Volume 69 · 15
Public Law 84–18
To provide a one-year extension of the existing corporate normal-tax rate and of certain excise-tax rates.
Approved March 30, 1955
Statutory text
AN ACT
To provide a one-year extension of the existing corporate normal-tax rate and of certain excise-tax rates.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
That this Act may be cited as the “Tax Rate. Extension Act of 1955”.
SEC. 2. ONE-YEAR EXTENSION OF CORPORATE NORMAL-TAX RATE.
68A Stat. 11, 260.
Section 11 (b) (relating to corporate normal tax), section 821 (a) (1) (A) (relating to mutual insurance companies other than inter-insurers), and section 821 (b) (1) (relating to interinsurers) of the Internal Revenue. Code of 1954 are hereby amended as follows:
By striking out “april 1, 1950” each place it appears and inserting in lieu thereof “april 1, 1950”;
By striking out “April 1, 1955” each place it appears and inserting in lieu thereof “April 1, 1956”;
By striking out “march 31, 1933” each place it appears and inserting in lieu thereof “march 31, 1956”;
By striking out “March 31, 1955” each place it appears and inserting in lieu thereof “March 31, 1956”.
SEC. 3. ONE-YEAR EXTENSION OF CERTAIN EXCISE TAX RATES.
Extension of Rates.—
The following provisions of the Internal
68A Stat.
Revenue Code of 1954 are hereby amended by striking out “April 1, 1955” each place it appears and inserting in lieu thereof “April 1, 1956”—
section 4041 (c) (relating to special fuels);
section 4061 (relating to motor vehicles):
section 4081 (relating to gasoline);
section 5001 (a) (1) (relating to distilled spirits);
section 5001 (a) (3) (relating to imported perfumes containing distilled spirits);
section 5022 (relating to cordials and liqueurs containing wine);
section 5041 (b) (relating to wines);
section 5051 (a) (relating to beer); and
section 5701 (c) (1) (relating to cigarettes).
Technical Amendments.—
The following provisions of the Internal Revenue Code of 1954 are hereby amended as follows:
Section 5063 (relating to floor stocks refunds on distilled
spirits, wines, cordials, and beer) is amended by striking out “April 1, 1955” each place it appears and inserting in lieu thereof “April 1, 1956”, and by striking out “May 1, 1955” and inserting in lieu thereof “May 1, 1956,”.
Section 5134 (a) (3) (relating to drawback in the case of
distilled spirits) is amended by striking out “March 31, 1955” and inserting in lieu thereof “March 31, 1956”.
Subsections (a) and (b) of section 5707 (relating to floor
stocks refunds on cigarettes) are amended by striking out “April 1, 1955” each place it appears and inserting in lieu thereof “April 1, 1956”, and by striking out “July 1, 1955” and inserting in lieu thereof “July 1, 1956”.
Subsections (a) and (b) of section 6412 (relating to floor
stocks refunds on motor vehicles and gasoline) are amended by striking out “April 1, 1955” each place it appears and inserting in lieu thereof “April 1, 1956”, and by striking out “July 1, 1955” each place it appears and inserting in lieu thereof “July 1, 1956”.
Section 497 of the Revenue Act of 1951 (relating to refunds on articles
from foreign trade zones), as amended by the Excise Tax Reduction Act of 1954, is hereby amended by inserting after “Internal Revenue
Code” each place it appears “of 1939 (or section 5701 (c), 5001 (a), 5022, 5041 (b), or 5051 (a) of the Internal Revenue Code of 1954)”, and by striking out “April 1, 1955” each place it appears and inserting in lieu thereof “April 1, 1956”.
Approved March 30, 1955.