Page:United States Statutes at Large Volume 40 Part 1.djvu/320

 Sixrrrrrrn coxonnss. sms. 1. Ch. ea. 1917. 301 teen hundred and sixteen, there shall be levied, assessed, collected, WAR ¤N¤<>ME MX- and paid a like normal tax of two per centum upon the income of P0st,p.1062. every individual, a citizen or resident of the United States, received in the calendar year nineteen hundred and seventeen and every calendar year thereafter. _ Sec. 2. That in addition to the additional tax imposed by subdi- ,,,§{‘5,0‘{,’,,°f"”°S °"°"°"‘ vision (b) of section one of such Act of September eighth, nineteen V<>i—39»i>-756- hundred and sixteen, there shall be levied, assessed, collected, and paid a like additional tax upon the income of every individual received in the calendar year nineteen hundred and seventeen and every calendar year thereafter, as follows: One per centum per annum 1(Jipon the amount by which the total ,I§§§2Si,_ mz net income exceeds $5,000 and oes not exceed $7,500; Two per centum per annum upon the amount by which the total net income exceeds $7,500 and does not exceed $10,000 ; Three per centum per annum iépon the amount by which the total net income exceeds $10,000 and oes not exceed $12,500; Four per centum per annum upon the amount by which the total net income exceeds $12,500 and does not exceed $15,000; Five per centum per annum upon the amount by which the total net income exceeds $15,000 and oes not exceed $20,000; Seven peiicentum per annum upon the amount by which the total net income exceeds $20,000 and does not exceed $40,001); Ten per centum per annum upon the amount by which the total net income exceeds $40,000 and oes not exceed $60,000; Fourteen per centum per annum upon the amount by which the total net income exceeds $60,000 and does not exceed $80,000; Eighteen per centum per annum upon the amount by which the total net income exceeds $80,000 and does not exceed $100,000; _ 'hventy-two per centum per annum uipon the amount by which the total net income exceeds $100,000 an does not exceed $150,000; Twenty-five per centum per annum u(pon the amount by which the total net income exceeds $150,000 an does not exceed $200,000; Thirty per centum per annum upon the amount by which the total net income exceeds $200,000 and does not exceed $250,000; Thirty-four per centum per annum 11(pon the amount by which the total net income exceeds $250,000 an does not exceed $300,000; Thirty-seven per centum per annum upon the amount by which the total net income exceeds $300,000 and does not exceed $500,000; Forty per centum per annum upon the amount by which the total net income exceeds $500,000 an does not exceed $750,000._ ·Forty-five per centum per annum upon the amount by which the total net income exceeds $750,000 an does not exceed $1,000,000. Fifty per centum per annum upon the amount by which the total net income exceeds $1,000,000. Sec. 3. That the taxes imdposed by sections one and two of this ,,,g§§f§§§‘°“‘* pal" Act shall be computed, levie, assessed, collected, and paid upon the same basis and in the Same manner as the similar taxes imposed by section one of such Act of September eighth, nineteen hundred and sixteen, except that in the case of the tax imposed by section one of P I t_ Q this Act (a) the exemptions of $3,000 and $4,000 provided in section rediicrggxia mmp m' seven of such Act of September eighth, nineteen hundred and sixteen, "°"· P·33‘· as amended by this Act, shall be, respectively, $1,000 and $2,000, and R t umd (b) the returns required under subdivisions (b) and (c) of section vgxxsgilsz. ' eight of such Act as amended by this Act shall be required in the case P""· *’· 33* of net incomes of $1,000 or over, in the case of unmarried ersons, and $2,000 or over in the case of married persons, instead oi) $3,000 __ _ or Over, as therein provided, and (c) the rovisions of subdivision (0) ,.,,“§E,Q%§ld"§€,§Y,°§,ty°§§ of S€Ct1OIl nine of such Act, as amended,) by this Act, requiring the gg}; 8**6* J*m°°rY l· normal tax of individuals on income derived from interest to be 1>éu,p.ss2. deducted and withheld at the source of the income shall not apply to