# Pub. L. 90-364: changes to the Internal Revenue Code 1968-06-28, 82 Stat. 266. Source: . ## Legislative history - Bill: [H.R. 15414](https://www.congress.gov/bill/90th-congress/house-bill/15414) ## § 103: Interest on State and local bonds - § 103(c): Pub. L. 90–364 added subsec. (c). Former subsec. (c) redesignated (d). - § 103: Pub. L. 90–364 redesignated former subsec. (c) as (d). ## § 243: Dividends received by corporations - § 243(b)(3)(C): Pub. L. 90–364 substituted “surtax exemption, and one amount under section 6154(c)(2) and (3) and sections 6655(e)(2) and (3), for purposes of estimated tax payment requirements under section 6154” for “$100,000 exemption for purposes of estimated tax filing requirements under section 6016”. ## § 276: Certain indirect contributions to political parties - § 276(c), § 276: Pub. L. 90–364 added subsec. (c) and redesignated former subsec. (c) as (d). ## § 501: Exemption from tax on corporations, certain trusts, etc. - § 501(e), § 501(f): Pub. L. 90–364 added subsec. (e) and redesignated former subsec. (e) as (f). ## § 3402: Income tax collected at source - § 3402(a): Pub. L. 90–364, § 102(c)(1), designated existing Tables 1 to 8 as constituting par. (1), inserted provisions preceding existing Table 1–8 so as to limit their application to the case of wages paid on or before the 15th day after the date of the enactment of the Revenue and Expenditure Control Act of 1968 or after June 30, 1969, and added par. (2). - § 3402(c)(6): Pub. L. 90–364, § 102(c)(2), added par. (6). ## § 4251: Imposition of tax - § 4251(a)(2): Pub. L. 90–364, § 105(b)(1), extended from April 30, 1968, through the end of 1969 the period for the imposition of the 10 percent rate, thereby increasing the rate from 1 percent to 10 percent for the period May 1, 1968, through the end of 1968 and from 0 percent to 10 percent for 1969, and imposed a rate of 5 percent during 1970, a rate of 3 percent during 1971, and a rate of 1 percent during 1972. - § 4251(b): Pub. L. 90–364, § 105(b)(2), substituted “1973” for “1969”. - § 4251(c): Pub. L. 90–364, § 105(b)(2), extended provisions calling for treatment of bills not rendered before the end of a year for service rendered before November 1 of that year as having been first rendered on December 31 of that year so as to include years subsequent to 1968 and struck out special provision for the application of subsec. (a) in the case of communication services rendered before March 1, 1968, for which a bill was not rendered before May 1, 1968. ## § 6020: Returns prepared for or executed by Secretary - § 6020(b)(1): Pub. L. 90–364 struck out reference to section 6016. ## § 6412: Floor stocks refunds - § 6412(a)(1): Pub. L. 90–364 substituted “January 1, 1970, January 1, 1971, January 1, 1972, or January 1, 1973,” for “May 1, 1968, or January 1, 1969,”. ## § 6425: Adjustment of overpayment of estimated income tax by corporation - Enacted 26 U.S.C. § 6425. ## § 6651: Failure to file tax return or to pay tax - § 6651(c): Pub. L. 90–364 struck out reference to section 6016. ## § 6655: Failure by corporation to pay estimated income tax - § 6655(b)(1): Pub. L. 90–364, § 103(c)(1), substituted “80 percent” for “70 percent”. - § 6655(d)(1): Pub. L. 90–364, § 103(e)(1), struck out “reduced by $100,000” after “The tax shown on the return of the corporation for the preceding taxable year”. - § 6655(d): Pub. L. 90–364, § 103(c)(1), substituted “80 percent” for “70 percent”. - § 6655(e): Pub. L. 90–364, § 103(c)(2), designated existing provisions as par. (1) under a heading “In general”, in such redesignated par. (1) substituted “For purposes of subsections (b) and (d)” for “For purposes of subsections (b), (d)(2), and (d)(3)” in introductory text, redesignated as subpar. (A) former par. (1) and as subpar. (B) former par. (2), struck out reference to $100,000 as one factor in the sum required for redesignated subpar. (B) and added cls. (ii) and (iii), and added pars. (2), (3), and (4) under headings “Temporary estimated tax exemption”, “Transitional exemption”, and “Special rule for subsection (d)(1) and (2)” respectively. - § 6655(g): Pub. L. 90–364, § 103(d)(2), added subsec. (g). ## § 7203: Willful failure to file return, supply information, or pay tax - § 7203: Pub. L. 90–364 struck out reference to section 6016. ## § 7502: Timely mailing treated as timely filing and paying - § 7502(e): Pub. L. 90–364 added subsec. (e). ## § 7701: Definitions - § 7701(a)(34): Pub. L. 90–364 substituted “section 6154(c)” for “section 6016(b)”.