78TH CONG. , 2D SESS.-CH. 63--FEB. 25 ,1944 (e) REAL ESTATE; BOND PREMiT AND DISCOUNT. -Subsections (c) and (d) of section 207 are amended by striking out "other than life and marine", wherever appearing therein, and inserting in lieu thereof the following: "subject to the tax imposed by this section". (f) TAXABLE YEARS TO WHICH APPLICABLE.- T he amendments made by this section shall apply with respect to taxable years beginning after December 31, 1941. SEC. 136. TREATY OBLIGATIONS. No amendment made by this title shall apply in any case where its application would be contrary to any treaty obligation of the United States. SEC. 137. STATUS FOR WITHHOLDING AT SOURCE ON WAGES. Section 1622 (h) (1) (relating to withholding exemption certificates) is amended to read as follows: "(1) If furnished after the date of commencement of employ- ment with the employer by reason of a change of status, shall take effect with respect to the first payment of wages made on or after the first status determination date which occurs at least thirty days from the date on which such certificate is furnished to the employer, except that at the election of the employer such certifi- cate, if furnished by reason of a change of status occurring on or before July 1 of the calendar year, may be made effective with respect to any previous payment of wages made on or after the date of the furnishing of such certificate. For the purposes of this paragraph the term 'status determination date' means January 1 and July 1 of each year." TITLE II-EXCESS PROFITS TAX AND POST-WAR REFUND OF EXCESS PROFITS TAX Part I-Excess Profits Tax Amendments SEC. 201. TAXABLE YEARS TO WHICH AMENDMENTS APPLICABLE. Except as otherwise expressly provided, the amendments made by this title shall be applicable only with respect to taxable years begin- ning after December 31, 1943. SEC. 202. INCREASE IN EXCESS PROFITS TAX RATE. (a) IN GENERAL. -Section 710 (a) (1) (A) (relating to the rate of excess profits tax) is amended to read as follows: "(A) 95 per centum of the adjusted excess profits net income, or". (b) TECHNICAL AMENDMENT RELATING TO PUBaO UTnrrPEs. - Sec- tion 710 (a) (1) (B) (relating to the 80 per centum limitation) is amended by inserting before the period at the end thereof the follow- ing: ", and without regard to 80 per centum of the credit provided in section 26 (h) (relating to credit for dividends paid on certain preferred stock)". (c) CBEDIT FOR INCOME SUBJECr TO ExcEss PROITrr TAX. -Section 26 (e) (relating to the credit for income subject to the excess profits tax) is amended by striking out "90 per centumi" and inserting in lieu thereof "95 per centum". 53 Stat. 74; 56 Stat. 875. 26 U. S. C., Supp. III,§ 207 (c), (d). 57 Stat. 136 . 26 U. S. C., Supp. III, § 1622 (h) (1). Post, pp. 253 , 255. "Status determin- tion date." 56 Stat. 899. 26 U. S. C., Supp. m, § 710 (a) (1) (A). 56 Stat. 899. 26 U. , C., Supp. m, 1 710 (a) (1) (B). 56 Stat. 830 . 26 U. S. 0, Supp. m, 2 (h). Ante, p. 36 63 Stat. 19; 66 tat. 806. 26 U. 8. 0, SuppI m 126 (e). 58 STAT.] 53
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