Dividend tax provision amended to clarify tax payable on dividends, replacing wording and omitting a prior sub-clause. Amendment to section 115-O(1A)(i) inserts 'and' at the end of sub-clause (a), substitutes the words in sub-clause (b) with 'paid the tax which is payable under this section on such dividend:', and omits sub-clause (c), thereby altering the statutory wording that defines the obligation to pay tax on distributed dividends.