Page:United States Statutes at Large Volume 100 Part 3.djvu/290

 100 STAT. 2098

PUBLIC LAW 99-514—OCT. 22, 1986

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"(A) taxable income, over ••''..-irli,,f -; - ' t:?^! "(B) the applicable dollar amount. "(2) LIMITATION.—The increase determined under paragraph (1) with respect to any taxpayer for any taxable year shall not
 * > exceed the sum of—

"(A) 13 percent of the maximum amount of taxable income to which the 15-percent rate applies under the table contained in subsection (a), (b), (c), or (e) (whichever applies), and "^ "(B) 28 percent of the deductions for personal exemptions allowable to the taxpayer for the taxable year under section 151. In the case of any individual taxable under subsection (d), ^' subparagraph (A) shall apply as if such individual were taxable " under subsection (a). "(3) APPLICABLE DOLLAR AMOUNT.—For purposes of paragraph



(1), the applicable dollar amount shall be determined under the following table:

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"In the case of a taxpayer to which the following subsection of this section applies: Subsection (a) Subsection (b) Subsection (c) Subsection (d) Subsection (e)

The applicable dollar amount is: $71,900 61,650 43,150 35,950 13,000.

"(4) ADJUSTMENT FOR INFLATION.—In the case of any taxable ^ year beginning in a calendar year after 1988, each dollar "^ amount contained in paragraph (3) shall be increased by an amount equal to— . "(A) such dollar amount, multiplied by "(B) the cost-of-living adjustment determined under . subsection (f)(3) for the calendar year in which the taxable year begins. "(h) TAX SCHEDULES FOR TAXABLE YEARS BEGINNING IN 1987.—In the case of any taxable year beginning in 1987— "(1) subsection (g) shall not apply, and "(2) the following tables shall apply in lieu of the tables set forth in subsections (a), (b), (c), (d), and (e): g^ ^

"(A) MARRIED INDIVIDUALS FILING JOINT RETURNS AND

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SURVIVING SPOUSES.—The table to apply for purposes of subsection (a) is as follows:

"If taxable income is Not over $3,000 Over $3,000 but not over $28,000 Over $28,000 but not over $45,000 Over $45,000 but not over $90,000 Over $90,000

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The tax is: 11% of taxable income. $330, plus 15% of the excess over $3,000. $4,080, plus 28% of the excess over $28 000 $8,840, plus 35% of the excess over $45,000. $24,590, plus 38.5% of the excess over $90,000.

"(B) HEADS OF HOUSEHOLDS.—The table to apply for pur-

poses of subsection (b) is as follows:

"If taxable income is Not over $2,500 Over $2,500 but not over $23,000 Over $23,000 but not over $38,000

The tax is: 11% of taxable income. $275, plus 15% of the excess over $2,500. $3,350, plus 28% of the excess over $23,000.

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