Page:United States Statutes at Large Volume 47 Part 1.djvu/198

 174 72d CONGRESS. SESS. I. CH. 209 . JUNE 6,1932 . INCOME TAX SEC. 3. CLASSIFICATION OF PROVISIONS. Classification of pro- The provisions of this title are herein classified and designated visions. Designations. as- Subtitle A-Introductory provisions, Subtitle B-General provisions, divided into Parts and sections, Subtitle C-Supplemental provisions, divided into Supplements and sections. Special classes of tax- SEC. 4. SP ECIAL CLAS SES OF TAX PAYERS. Appli '' Th e appl icati on of the G enera l Pro vision s and of S upplem ents pphcationofgeneral provisions and supple- A to D, inclusive, to eac1i of the following special classes of tax- payers, shall be subject to the exceptions and additional provisions found in the Sup plement applicab le to such class, as follows Estates and trusts, (a) Estates and trusts and the beneficiaries thereof,-Supple- p .219. ment E. Members of partner- ~b) Members of partnerships,-Supplement F. ships, p . 222. Insurance companies, c Insurance companies, Supplement G. p 2 d) Nonresident alien individuals,-Supplement H.. Nonr eside nt aliens, p .228. e) F oreig n corp orati ons,- Supple ment I. Foreign corporations, p .229g f) Individual citizens of any possession of the United States sions, Citizens not of cit ize ns posses- of who are not otherwise citizens of the United States and who are not United States, p .231. residents of the United States,-Supplement J. Citizens deriving large portion of income ( g) Individual citizens of the United States or domestic corpora- fr om United States tions, satisfyin g the conditions of section 251 by reason of deri ving possessions. a large portion of their gross income from sources within a possession post, p. 231, of the United States,-Supplement J. China Trade Act (h) China Trade Act corporations, Supplement K. corporations, p .232 . General provisions. SUBT ITLE B-GENERAL PROVI SIONS Rates of tax. Normal tax on indi- SEC. 11. NORMAL TAX ON INDIVIDUALS. vi at s. Rates on net income. Ther e shall be levie d, colle cted, an d paid fo r each t axable y ear upon the net income of every individual a normal tax equal to the sum of t he follo wing (a) 4 per centum of the first $4,000 of the amount of the net post, p. 184 . income in excess of the cre dits aga inst net income provided in section 25 ; and (b) 8 per centum of the remainder of such excess amount. SEC. 12. SURTAX ON INDIVIDUALS. (a) RATES of SURTAX .-There shall be levied, collected, and paid for each taxable year upon the net income of every individual a surtax as follows :. . Upon a net income of $6,000 there shall be no surtax ; upon net income s in excess of $ 6,000 and not in excess of $10,000, 1 per cen- tum of such excess. - $40 upon net incomes of $10,000 ; and upon net incomes in excess of $10,000 and not in excess of $12,000, 2 per centum in addition of suc h excess. $80 upon net incomes of $12,000 ; and upon net incomes in excess of $12,000 and not in excess of $14,000, 3 per centum in addition of suc h excess. $140 upon net incomes of $14,000 ; and upon net incomes in excess of $14,000 and not in excess of $16,000, 4 per centum in addition of suc h excess. $220 upon net incomes of $16,000 ; and upon net-incomes in excess of $16,000 and not in excess of $18,000, 5 per centum in addition of such excess. Surtax on individ- uals. Rat es. Part I-Rates of Tax