provisions of the Federal tax laws for the income years 1909 through 1948 2 profits: $3,000 An amount equal to the same percentage of invested capital' for the taxable year as the average annual pre-war income was of pre-war invested capital (not less than 7 percent nor more than 9 percent); or if corporation was not in existence during at least one whole year of the pre-war period, 8 percent of invested capital for taxable year; or if during pre-war period corporation had either no net income or a very small net income or if invested capital cannot be determined, same percent as that of representative corporations. (See sec. 210, Revenue Act of 1917.) (7) Taxable income Rate (percent) (For 1917 and prior years, income Net income: (7) ог and profits taxes paid to foreign Countries United States possessions were not allowed as tax credit, but were included in general deductions from gross income, except that taxes paid to foreign coun tries were not allowed to foreign corporations. 30 11 Amount paid or accrued.i2 65. 100 11 20 14 Do.12 40.. Excessprofits and warprofits tax rates of Revenue Act |