Page:United States Statutes at Large Volume 48 Part 1.djvu/787

 73d C ONGRESS. SESS. II. CH. 277 . MAY 10, 1934 . 761 of the tax in respect of which the liability arises or, if no return was made, then by the Court of Appeals of the District of Columbia. "(b) Notwith standi ng the provi sions of sub section (a), such deci- sion may be reviewed by any Circuit Court of Appeals, or the Court of Appeals of the District of Columbia, which may be designated by the Commis sioner and t he tax payer by stip ulatio n in w riting ." (b) Section 1002 of the Revenue Act of 1926, as amended by this section, shall be applicable to all decisions of the Board rendered on or after the date of the enactment of this Act, and such section, as in for ce prior to its am endment b y this se ction, sh all be ap plicable to such decisions rendered prior thereto, except that subdivision (b) thereof may be applied to any such decision rendered prior thereto. SEC. 520. GI FT TAX RATES. (a ) The gift-t ax sch edule set fo rth in sectio n 502 of the Reven ue Act of 1932 is amended to read as follows " Upon net gifts not in excess of $10,000, three fourths of 1 per centum. `` $75 upon net gifts of $10,000 ; and upon net gifts in excess of $10,000 and not in excess of $20,000, 11/2 per centum in addition of such ex cess . "$225 upon net gifts of $20,000 ; and upon net gifts in excess of $20,000 and not in excess of $30,000, 21/ 4 per centum in addition of such ex cess. "$450 upon net gifts of $30,000 ; and upon net gifts in excess of $30,000 and not in excess of $40,000, 3 per centum in addition of such ex cess . "$750 upon net gifts of $40,000 ; and upon net gifts in excess of $40,000 and not in excess of $50,000, 33/4 per centum in addition of such ex cess. "$1,125 upon net gifts of $50,000 ; and upon net gifts in excess of $50,000 and not in excess of $70,000, 5 1/4 per centum in addition of such ex cess . " $2,175 upon net gifts of $70,000 ; and upon net gifts in excess of $70,000 and not in excess of $100,000, 63/ per centum in addition of such excess. " $4,200 upon net gifts of $100,000 ; and upon net gifts in excess of $100,000 and not in excess of $200,000, 9 per centum in addition of such excess . "$13,200 upon net gifts of $200,000 ; and upon net gifts in excess of $200,000 and not in excess of $400,000, 12 per centum in addition of such excess. " $37,200 upon net gifts of $400,000 ; and upon net gifts in excess of $400,000 and not in excess of $600,000, 14 1/4 per centum in addi- tion of such excess . "$65,700 upon net gifts of $600,000 ; and upon net gifts in excess of $600,000 and not in excess of $800,000, 16 1/2 per centum in addi- tion of such excess. "$98,700 upon net gifts of $800,000 ; and upon net gifts in excess of $800,000 and not in excess of $1,000,000, 183/4 per centum in addi- tion of such excess . "$136,200 upon net gifts of $1,000,000 ; and upon net gifts in excess of $1,000,000 and not in excess of $1,500,000, 21 per centum in addition of such excess. "$241,200 upon net gifts of $1,500,000 ; and upon net gifts in excess of $1,500,000 and not in excess of $2,000,000, 231/4 per centum in addition of such excess . A MEN DME NTS TO PRIOR ACTS AND MISCELLA- NEOUS . Gift taxes . Schedule. Vol . 47, amende d. 14 6,