Tulsa daily world. [volume] (Tulsa, Indian Territory [Okla.]) 1905-1919, 1917-10-17


in subdivision (a) of section or
such act as amended by this act
Section 207. That as used in this
title the term Invested capital for
any year means the average invested
capital for the year, as defined ana
limited in this title, averaged monthly.
AS used in this title invested capt
tal' does not include stocks, bonds
(other than obligations OF the united
Statcs), or other assets, the income
from which is not subject to the tax
imposed by this title nor money or
other property borrowed and means,
subject to the above limitations;
(a) In the case of a corporation
or partnership: G) Actual cash paid
in: On the actual cash value OF
tangible property paid in other than
cash, for stock or shares in such cor
poration or partnership, at the time
of such payment (but IN case such
tangible property was paid in prior To
January /, 1914, the actual cash value
of such property as of January /, 1914,
but in no case to exceed the par value
of the original stock or shares spe-
officially Issued therefor), and CD paid
in or earned surplus and undivided
profits used or employed In the busi-
ness, exclusive Of undivided profits
Provided, that (a) the actual cash
value of patents and copyrights paid
in for stock or shares in such corpora
ton or partnership at the time of such
payment. shall be included as invested
capital, but not TO exceed the par
value of such stock or shares at the
time OF such payment, and CD the
good will trade marks, trade brands,
the franchise of "A corporation or part
nership, or other intangible property,
shall be included as invested capital II
the corporation or partnership made
payment bona fide therefor speclfi-
cally as such in cash or tangible prop
erty the value of such good will, trade
mark. trade brand. franchise. or in
tangible property. not to exceed the
actual cash or actual cash value OF
the tangible property paid therefor at
the time of such payment: but good
will, trade marks, trade brands. fran
chise of corporation or partnership,
or other intangible property. bona flde
purchased, prior to March 3, 1917, for
and with interests or shares in part
nership or for and with shares in the
capital stock Of n corporation Gssued
prior to March 3, 191D, in an
amount not to exceed, on March 8,
1917, 20 per centnm of the total In
terests or shares in the partnership
or OF the total shares of the capital
stock of the corporation, shall be In.
cluded in invested capital at a value
not to exceed the actual cash value at
the time of such purchase. and in
rcase of issue of stock therefor not to
exceed the par value OF such stock:
/ (b) In the case Of an individual %
actual cash paid into the trade or busi-
ness, and (2) the actual cash value OF
tangible property paid into the trade
or business, other than cash, at the
tine of such payment tbut in case
such tangible property was paid in
prior to January /. 1914. the actual
cash value Of such property as OF
January I, 1910, and (3) the actual
cash value Of patents. copyrights. good
will trade marks, trade brands, fran
\ chises, or other intangible property,
paid into the trade or business at the
time Of such payment. II payment was
made therefor specifically as such in
cash or tangible property, not to ex-