Page:United States Statutes at Large Volume 48 Part 1.djvu/788

 762 73d C ONGRESS. SESS. II. CH. 277. MAY 10, 1934 . TO PRIOR CTS "$357 ,450 upon net gifts of $ 2,00 0,000 ; and upon net gifts in AND MISOELLA- excess of $2,000,000 and not in excess of $2,500,000, 25 1/2 per centum NE O US. -Contd . Gift taxes . in addition of such excess . "$484 ,950 upon net gifts of $ 2,50 0,000 ; and upon net gifts in excess of $2,500,000 and not in excess of $3,000,000, 273/4 per centum in addition of such excess. " $623,700 upon net gifts of $3,000,000 ; and upon net gifts in excess of $3,000,000 and not in excess of $3,500,000, 30 per centum in addition of such excess . " $773,700 upon net gifts of $3,500,000 ; and upon net gifts in exces s of $ 3,500, 000 an d not in exc ess of $4,000 ,000, 32 per centum in addition of such excess. "$934,950 upon net gifts of $4,000,000 ; and upon net gifts in excess of $4,000,000 and not in excess of $4,500,000, 341/2 per centum in addition of such excess . ' ° $1,107,450 upon net gifts of $4,500,000 ; and upon net gifts in excess of $4,500,000 and not in excess of $5,000,000, 36 per centum in addition of such excess . " $1,287 450 upon net gifts of $5,000,000 ; and upon net gifts in excess of 5,000,000 and not in excess of $6,000,000, 371/2 per centum in addition of such excess. "$1,662,450 upon net gifts of $6,000,000 ; and upon net gifts in excess of $6,000,000 and not in excess of $7,000,000, 39 per centum in addition of such excess . " $2,052 450 upon net gifts of $7,000,000 ; and upon net gifts in excess of 7,000,000 and not in excess of $8,000,000, 401/2 per centum in addition of such excess. " $2,457,450 upon net gifts of $8,000,000 ; and upon net gifts in excess of $8,000,000 and not in excess of $9 .000,000 . 42 per centum in addition of such excess . "$2,877,450 upon net gifts of $9,000,000 ; and upon net gifts in excess of $9,000,0 00 and no t in exce ss of $10 ,000,000, 431/2 pe r centum in addition of such excess. "$3,312,450 upon net gifts of $10,000,000 ; and upon net gifts in excess of $10 ,000,0 00, 45 per c entum in addi tion o f such exces s . " New rates to apply (b) The amendment made by subsection (a) of this section shall to gifts, etc., made in calendar year 1935 and be applied in computing the tax for the calendar year 1935 and thereafter. each calendar year thereafter (but not . the tax for the calendar year 1934 or a previous calendar year), and s uch amendment shall be applied in all computations in respect of the calendar year 1934 and previous calendar years for the purpose of computing the tax for the calendar year 1935 or any calendar year thereafter. EXCISE TAXES. Soft drink tax Termination of. Vol.47,p.264 . TITLE IV-EXCISE TAXES SEC. 601. TERMINATION OF SOFT DRINK TAX. No tax shall be imposed under section 615 of the Revenue Act of 1932 on the sale or use of any article if such sale, or use takes place after the date of the enactment of this Act. Tax on certain oils. SEC. 602. TAX ON CE RTAI N OILS. Vol. 47, p 261, Section 601(c) of the Revenue Act of 1932 is amended by adding amended. at the end thereof a new paragraph as follows : Whale, etc ., oils. " ( 8) Whale oil (except sperm oil), fish oil (except cod oil, cod- liver oil, and halibut-liver oil), marine animal oil, and any com- bination or mixture containing a substantial quantity of any Application, etc° one or more of such oils, 3 cents per pound . The tax on the articles described in this paragraph shall apply only with respect