Section 2
SEC. 2. Section three of Act Numbered Twenty-eight hundred and thirty-three is hereby repealed, and there is enacted, in lieu thereof, as section three of the law, the following: "SEC. 3. If any corporation, joint-stock company, partnership, joint account (cuenta en participacion), association, however, created or organized, except banks and insurance companies, is formed or availed of for the purpose of preventing the imposition of the additional tax or surtax upon its shareholders or members through the medium of permitting its gains and profits to accumulate instead of being divided or distributed, there is hereby levied and assessed against such corporation, joint-stock-company, partnership, joint account (cuenta en participacion), or association for each taxable year a tax equal to twenty-five per centum of the undistributed portion of its accumulated profits or surplus which shall be in addition to the tax imposed by section ten, as amended, and shall be computed, collected and paid in the same manner and subject to the same provisions of law, including penalties, as that tax."