Page:United States Statutes at Large Volume 49 Part 1.djvu/1698

 74 TH C ONGRESS. SESS. II. CH. 690. J UNE 22, 1936 . SEC. 4. SPECIAL CLASSES OF TAXPAYERS. The application of the General Provisions and of Supplements A to D, inclusive, to each of the following special classes of taxpayers, shall be subject to the exceptions and additional provisions found in the Supplement applicable to such class, as follows (a) Estates and trusts and the beneficiaries thereof,-Supple- ment E. (b) Mem bers of p artnership s,-Supplem ent F. (c) In sura nce com pani es, -Sup plem ent G. d) Nonresident alien individuals,-Supplement H . (e) Foreign corporations,-Supplement I. (f) Individual citizens of any possession of the United States who are not otherwise citizens of the United States and who are not residents of the United States,-Supplement J . (g) Individual citizens of the United States or domestic corpora- tion s, satisfying the conditions of section 251 by reason of deriving a large portion of their gross income from sources within a possession of the United States,-Supplement J . (h) China Trade Act corporat ions,-Supp lement K . SUBTITLE B-GENERAL PROVISIONS Part I-Rates of Tax SEC. 11. NORMA L TAX ON INDI VIDUA LS . There shall be levied, collected, and paid for each taxable year upon the net income of every individual a normal tax of 4 per centum of the amount of the net income in excess of the credits against net income provided in section 25 . SEC. 12. SURTAX ON INDIVIDUALS. (a) DEFINITION OF "SURTAX NET INCOME":AS used in this section the t erm "surtax net i ncome" means the amount of the net income in excess of the credits against net income provided in section 25 (b). (b) RATES OF SURTAX .-There shall be levied, collected, and paid for each taxable year upon the surtax net income of every individual a surtax as follows Upon a surtax net income of $4,000 there shall be no surtax ; upon surtax net incomes in e xcess of $4,000 a nd not in excess of $6,000, 4 per centum of such excess. $80 upon surtax net incomes of $6,000 ; and upon surtax net incomes in excess of $6,000 and not in excess of $8,000, 5 per cen- tum in addition of such excess. $180 upon surtax net incomes of $8,000 ; and upon surtax net incomes in excess of $8,000 and not in excess of $10,000, 6 per centum in addition of such excess. $300 upon surtax net incomes of $10,000 ; and upon surtax net incomes in excess of $10,000 and not in exces s of $12,000, 7 per centum in addition of such excess. $440 upon surtax net incomes of $12,000 ; and upon surtax net incomes in excess of $12,000 and not in excess of $ 14,000, 8 per centum in addition of such excess. $600 upon surtax net incomes of $14,000 ; and upon surtax net incomes in excess of $14,000 and not in excess of $16,000, 9 per centum in addition of such excess. $780 upon surtax net incomes of $16,000 ; and upon surtax net incomes in excess of $16,000 and not in excess of $18,000, 11 per centum in addition of such excess. Special classes of tax- payers. Application of Gen- er al Provisions and of Supplements. Estates and trusts, etc .,p . 1706. Partnerships, p .1709. Insurance companies, p. 1710. Nonresident aliens, p. 1714. Foreign corporations, p. 1717. Citizens of posses- sions of United States, p. 1718. Citizens de rivin g large por tion of in come from United State s possessions, p. 1718, Ch ina Tra de Act corporations, p.1720. General provisions. Rates of tax. Norm al tax on indi. viduals, p. 1662 . Ra tes up on net in- come. Post, p.1662. Rates. 1653 Surtax on individ. uals. Def initi on.