Imposition of Tax.—

Sec. 303. Imposition of Tax.— (a) There is hereby imposed on each deed at the time it is submitted to the Commissioners for recordation a (ax at the rate of one-half of 1 per centum of the consideration for such deed: Provided, That in any case where application of the rate of tax to the consideration for a deed results in a total tax of less than $1 the tax shall be $1. (b) Each such deed shall be accompanied by a return under oath in such form as the Commissioners may prescribe, executed by all the parties to the deed, setting forth the consideration for the deed, the amount of tax payable, and such other information as the Commissioners may require. (c) The parties to a deed which is submitted to the Commissioners for recordation shall be jointly and severally liable for payment of the taxes imposed by this section: Provided, That neither the United States nor the District of Columbia shall be subject to such liability. (d) The Commissioners are authorized— (1) to prescribe by regulation for reasonable extensions of time for the filing of the return required by subsection (b) of this section; and (2) to waive as to any party to a deed the requirement for the filing of a return by such party whenever it shall be determined by the Commissioners that a return cannot be filed: Provided, That any waiver granted by the Commissioners to a party shall not, unless specifically authorized, be deemed to be a waiver as to any other party. Any waiver made pursuant to this subsection shall not affect the requirements of subsection (c) of this section.