Page:United States Statutes at Large Volume 49 Part 1.djvu/1067

 10 22 74Th; CONGRESS. SESS. I. CH. 829. AUGUST 30, 1935 . Estate tax rates- " $557,600 upon net estates of $2,000,000 ; and upon net estates in Continued . excess of $2,000,000 and not in excess of $2,500,000, 38 per centum in addition of such excess. "$747,600 upon net estates of $2,500,000 ; and upon net estates in excess of $2,500,000 and not in excess of $3,000,000, 41 per centum in addition of such excess. "$952,600 upon net estates of $3,000,000 ; and upon net estates in excess of $3,000,000 and not in excess of $3,500,000, 44 per centum in addition of such excess . "$1,172,600 upon net estates of $3,500,000 ; and upon net estates in excess of $3,500,000 and not in excess of $4,000,000, 47 per centum in addition of such excess. "$1,407,600 upon net estates of $4,000,000 ; and upon net estates in excess of $4,000,000 and not in excess of $4,500,000, 50 per centum in addition of such excess . "$1,657,600 upon net estates of $4,500,000 ; and upon net estates in excess of $4,500,000 and not in excess of $5,000,000, 53 per centum in addition of such excess. "$1,922,600 upon net estates of $5,000,000 ; and upon net estates in excess of $5,000,000 and not in excess of $6,0 00,0 00, 56 per ce ntum in additi on of such exces s . " $2,482,600 upon net estates of $6,000,000 ; and upon net estates in excess of $6,000,000 and not in excess of $7,000,000, 59 per centum in addition of such excess. "$3,072,600 upon net estates of $7,000,000 ; and upon net estates in excess of $7,000,000 and not in excess of $8,000,000, 61 per centum in addition of such excess . "$3,682,600 upon net estates of $8,000,000 ; a nd upon net esta tes in excess of $8,000,000 and not in excess of $9,000,000, 63 per centum in addition of such excess. "$4,312,600 upon net estates of $9,000,000 ; and upon net estates in excess of $9,000,000 and not in excess of $10,000,0 00, 65 per centum in addition of such excess. " $4,962,600 upon net estates of $10,000,000 ; and upon net estates in excess of $10,000,000 and not in excess of $20,000,000, 67 per centum in addition of such excess. "$11,662,600 upon net estates of $20,000,000 ; and upon net estates in excess of $20,000,000 and not in excess of $50,000,000, 69 per centum in addition of such excess . "$32,362,600 upon net estates of $50,000,000 ; and upon net estates in excess of $50,000 000, 70 per centum in addition of such excess ." Vol . 47,p.244 . (b) Secti on 4 01 rc) of the Revenue Act of 1932 (relating to the exemption for the purposes of the additional estate tax) is amended by striking out " $50,000 " and inserting in lieu thereof " $40,000 " . Vol. 47, p. 245 . (c) Section 403 of the Revenue Act of 1932, as amended, (relating to the requirement for filing return under such additional estate tax) is amended by striking out " $50,000 " and inserting in lieu thereof 11 $40,000". Application oramend- (d) The amendments made by this section shall be effective only meats . with respect to transfers of estates of decedents dying after the date of the enactment of this Act . Estate tax-v .lua- SEC. 202. ESTATE TAX-VALUATION tion . C.,p .107~1 p 72 u. S. (a) Section 302 of the Re ve nue Act of 192 6, as amended, is amended by adding a new su bdivision as foll ows : - Determination of "(j) If the executor so elects upon his return (if filed within the value of gross estate. time prescribed by law or prescribed by the Commissioner in pur- suance of law), the value of the gross estate shall be determined by valuing all the property included therein on the date of the