[Texas Cotton Industries Corporate Income and Excess-Profits Tax Return: 1937] Page: 1 of 6

                                
UNITED STATES
CORPORATION INCOME AND EXCESS-PROFITS TAX RETURN

Treasury Department  (FORM  1120)     Internal Revenue Service
For Calendar Year 1937 or Fiscal Year
beginning  ------____, 1937, and ended      ---_-----, 1938
PRINT PLAINLY CORPORATION'S NAME AND ADDRESS
-----  XA$--C )# W--  E 8R  -----;>------------------------------------
------ M  reak Street------------- ----------- -----------------------
(Street and number)
------------- ---- --  M  Fiwe  ---------------  ------------------------------
(Cuny)(State)
Kind of business

DUPLICATE COPY
IMPORTANT
4
One    duplicate    copy
must be filed with orig-
inal return.

($10 will be assessed
duplicate is not filed.)

EXCESS-PROFITS TAX COMPUTATION
Rate       Amount of Tax
Item No.
1. Net income for excess-profits computation (item 28, Schedule A)----------__________________ $-------- . -Q
2. State value of capital stock as declared in your capital stock tax return for the year ended June
30, 1937 (or in your capital stock tax return for the year ended June 30, 1938, if your income
tax fiscal year began in 1937 and ended on or after July31, 1938)
3. Enter here 10 percent of item 2_     -------------------------- ---             _ --
4. Dividends received credit (85 percent of Schedule F, column 2) _   _-
5. Balance subject to excess-profits tax (item 1 minus items 3 and 4)--------------------   $-_--------
6. Amount taxable at 6 percent (5 percent of item 2, but not more than item 5)--------------------------------------6%     $-.--rf
7. Balance taxable at 12 percent (item 5 minus item 6)-------------------$-----------12%                                              301
8.     Total excess-profits tax--..----..            ------..----..---______---------------$
NORMAL TAX COMPUTATION

Net income for income tax computation (item 31, Schedule A)    _______________________
Dividends received credit (85 percent of Schedule F, column 2)_  $
Dividends paid credit (for mutual investment companies).  ___  _________-----__
Balance subject to normal tax (item 9 minus item 10 or 11)_
Tax on portion of item 12 not in excess of $2,000____.._
Tax on portion of item 12 in excess of $2,000 and not in excess of $15,000_
Ta  on portion of item 12 in excess of $15,000 and not in excess of $40,000_
Tax on portion of item 12 in excess of $40,000____
Total normal tax in items 13 to 16.....____..-
NORMAL TAX ON CORPORATIONS NOT SUBJECT TO GRADUATED NORMAL TAX RATES
(to be used in lieu of the normal tax rates above)
Banks and trust companies (see Instruction II).___
Insurance  companies_--- ......___- ..__--- _.._-..-.-
Corporations entitled to the benefits of section 251 of the Revenue Act of 1936_
Corporations organized under the China Trade Act, 1922_
Foreign corporations engaged in trade or business within the United States or having an
office or place of business therein_ _____________________._ .._

$----------   7  7
$---- -      .---------
Item 12 above
$    ----------- -------

8%
11%
13%
15%
15%
15%
150%
15%

------22%

UNDISTRIBUTED PROFITS SURTAX COMPUTATION
(See Instruction III respecting corporations exempt from surtax)

23. Net income for income tax computation (item 31, Schedule A)         _______________________
24. Normal tax (item 17 above)      -----------------------------------$
25. Credit for holding company affiliate or national mortgage associa-
tion (see Instruction III (b) and (c))--------------------------
26. Adjusted net income (item 23 minus items 24 and 25)------------------
27. Dividends paid credit (line 13, Schedule M)----------------___ $
28. Credit for contracts restricting dividend payments (see Instr. III)----------------------
29. Undistributed net income (item 26 minus items 27 and 28)_
30. Portion of item 29 taxable at 7%: $5,000 or 10% of item 26, whichever is greater (but not
more  than  item  29)-__-- _..__ _ _ _ _ __ _________  __
31. Portion of item 29 taxable at 12%: 10% of item 26 (but not more than item 29 minus
ite m  3 0 ) _- - _ _ - -_ _ _ _ _ _ _ _-_-___ _ ___ _ _ _ _ ___.._-.-_ _-

$--------- 727--
$---------727
$-----------727--6--

7%

12%   --------------

Portion of item 29 taxable at 17%: 20% of item 26 (but not more than item 29 minus items
30 and 31)_--__                _   _  _     ._      _.--------------------------------------------------------------------------------17%
Portion of item 29 taxable at 22%: 20% of item 26 (but not more than item 29 minus items
30 to 32)----------------------------------------------------------------------- -           -------------%--------22
Portion of item 29 taxable at 27%: (item 29 minus items 30 to 33)-------------------------------27%                        ---------------------
Total surtax in items 30 to 34-_--__-$--------

36.      Total normal tax and surtax (item     17 plus item 35, or item   18, 19, 20, 21, or 22)      -------------------------------------$------
37.      Less: Credit for income tax of a foreign country or U. S. possession allowed a domestic corporation (see Instruction IV)-----------------           _____
38. Balance of tax (item   36 minus item   37)-$----------------------------------------------------------------------------               --
39. Excess-profits tax (item 8 above)--------------------------------------------------------------------                         -------
40.      Total tax due (item 38 plus item 39)--------------------------------------------------------------------------$

2-17510

1937

(Auditor's Stamp)

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1937

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