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(b) The National Prohibition Act of October 28,
is assured in such manner as the Commissioner of Internal
2 1919, or any Act supplementary or amendatory thereof;
3 and
2 Revenue, with the approval of the Secretary of the Treasury,
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may require; (c) it derives less than 5 per centum of its
(c) The Act entitled "An Act to provide for the reg-
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gross income from sources within the United States; and
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(d) the Secretary of Commerce certifies to the Commis-
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sioner of Internal Revenue that during the taxable year the
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corporation in all respects has complied with the provisions
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of the China Trade Act, 1921, and regulations made there-
5 istration of, with collectors of internal revenue, and to im-
6 pose a special tax upon all persons who produce, import,
7 manufacture, compound, deal in, dispense, sell, distribute, or
8 give away opium or coca leaves, their salts, derivatives, or
9 preparations, and for other purposes," approved December
10 17, 1914, as amended.
(d) Also the Act known as the Clayton Antitrust Act.
9 under. The Commissioner of Internal Revenue with the
10 approval of the Secretary of the Treasury shall make all
11 regulations necessary for the determination of such exemp-
tion, and of the liability of shareholders or members to
taxation in respect to dividends paid by such corporation,
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SEC. 24. (a) That section 231 of the Revenue Act of
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1918 is amended by striking out the period at the end
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thereof, inserting in lieu thereof a semicolon, and adding a
new subdivision to read as follows:
but all dividends paid by such corporation to shareholders or
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"(15) A corporation organized under the China Trade
ject to all taxes that are assessable against dividends of
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Act, 1921, but only if and with respect to any taxable year 18 for which (a) it files a return at the time and place pro- 19 vided in section 241, made in the manner provided in sec- 20 tion 239, and containing such information as the Commis- 21 sioner of Internal Revenue, with the approval of the Secre-
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tary of the Treasury, may by regulation prescribe; (b) it 23 declares dividends during the taxable year in an amount 24 equal to one-third of its net income the payment of which
25 not later than sixty days after the close of such taxable year
15 members who are citizens of the United States shall be sub-
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17 similar corporations deriving their total incomes from busi-
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ness transacted wholly within the United States."
(b) Section 1 of the Revenue Act of 1918 is amended
by adding at the end thereof a new paragraph to read as
follows:
"A corporation organized under the China Trade Act, 1921, shall for the purposes of this Act be considered a
domestic corporation."
(c) Sections 232, 233, and 234 of the Revenue Act
26 of 1918 are amended by inserting in each of such sections
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