Page:United States Statutes at Large Volume 54 Part 1.djvu/551

 54 STAT.] 76r CONG., 3D SESS. - CH. 419-JUNE 25, 1940 517 "$9,380 upon surtax net incomes of $44,000; and upon surtax net incomes in excess of $44,000 and not in excess of $50,000, 40 per centum in addition of such excess. "$11,780 upon surtax net incomes of $50,000; and upon surtax net incomes in excess of $50,000 and not in excess of $60,000, 44 per centum in addition of such excess. "$16,180 upon surtax net incomes of $60,000; and upon surtax net incomes in excess of $60,000 and not in excess of $70,000, 47 per centum in addition of such excess. "$20,880 upon surtax net incomes of $70,000; and upon surtax net incomes in excess of $70,000 and not in excess of $80,000, 50 per centum in addition of such excess. "$25,880 upon surtax net incomes of $80,000; and upon surtax net incomes in excess of $80,000 and not in excess of $90,000, 53 per centum in addition of such excess. "$31,180 upon surtax net incomes of $90,000; and upon surtax net incomes in excess of $90,000 and not in excess of $100,000, 56 per centum in addition of such excess. "$36,780 upon surtax net incomes of $100,000; and upon surtax net incomes in excess of $100,000 and not in excess of $150,000, 58 per centum in addition of such excess. "$65,780 upon surtax net incomes of $150,000; and upon surtax net incomes in excess of $150,000 and not in excess of $200,000, 60 per centum in addition of such excess. "$95,780 upon surtax net incomes of $200,000; and upon surtax net incomes in excess of $200,000 and not in excess of $250,000, 62 per centum in addition of such excess. "$126,780 upon surtax net incomes of $250,000; and upon surtax net incomes in excess of $250,000 and not in excess of $300,000, 64 per centum in addition of such excess. "$158,780 upon surtax net incomes of $300,000; and upon surtax net incomes in excess of $300,000 and not in excess of $400,000, 66 per centum in addition of such excess. "$224,780 upon surtax net incomes of $400,000; and upon surtax net incomes in excess of $400,000 and not in excess of $500,000, 68 per centum in addition of such excess. "$292,780 upon surtax net incomes of $500,000; and upon surtax net incomes in excess of $500,000 and not in excess of $750,000, 70 per centum in addition of such excess. "$467,780 upon surtax net incomes of $750,000; and upon surtax net incomes in excess of $750,000 and not in excess of $1,000,000, 72 per centum in addition of such excess. "$647,780 upon surtax net incomes of $1,000,000; and upon surtax net incomes in excess of $1,000,000 and not in excess of $2,000,000, 73 per centum in addition of such excess. "$1,377,780 upon surtax net incomes of $2,000,000; and upon surtax net incomes in excess of $2,000,000 and not in excess of $5,000,000, 74 per centum in addition of such excess. "$3,597,780 upon surtax net incomes of $5,000,000; and upon surtax net incomes in excess of $5,000,000, 75 per centum in addition of such excess." SEC. 3. CORPORATION TAX. (a) TAX ON CORPORATIONS IN GENERL.- - Section 13 (b) of the s3t.t.tsa Internal Revenue Code is amended to read as follows: vs. 13 Sp ). "(b) IMPosITIoN OF TAx.- T here shall be levied1 collected, and PW4 . 'ot7. paid for each taxable year upon the normal-tax net income of every corporation the normal-tax net income of which is more than $25,000

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