Page:United States Statutes at Large Volume 57 Part 1.djvu/142

 57 STAT.] 78TH CONG. , 1ST SESS.-CH. 120-JUNE 9, 1943 129 "(B) in computing the tax required to be deducted and withheld under subsection (a) (2), a Victory tax withhold- ing exemption determined in accordance with the following schedule: Victory Tax Withholding "Payroll Period Exemption Weekly -- -- --- $12. 00 Biweekly --- -- 24. 00 Semimonthly - 26. 00 Monthly-- -- 52.00 Quarterly_-- - --- -- --- - 156.00 Semiannual- --- --- -- 312.00 Annual -- 624.00 Daily or Miscellaneous (per day of such period) 1. 70 "(2) If wages are paid with respect to a period which is not a payroll period, the withholding exemption allowable with respect to each payment of such wages shall be the exemption allowed for a miscellaneous payroll period containing a number of days (including Sundays and holidays) equal to the number of days in the period with respect to which such wages are paid. "(3) In any case in which wages are paid by an employer without regard to any payroll period or other period, the with- holding exemption allowable with respect to each payment of such wages shall be the exemption allowed for a miscellaneous payroll period containing a number of days equal to the number of days (including Sundays and holidays) which have elapsed since the date of the last payment of such wages by such employer during the calendar year, or the date of commencement of employment with such employer during such year, or January 1 of such year, whichever is the later. "(4) In any case in which the period, or the time described in paagrgraph (3), in respect of any wages is less than one week, the Commissioner, under regulations prescribed by him with the approval of the Secretary, may authorize an employer, in computing the tax required to be deducted and withheld, to use the excess of the aggregate of the wages paid to the employee during the calendar week over the withholding exemption allowed by this subsection for a weekly payroll period. "(5) In determining the amount to be deducted and withheld under this subsection, the wages may, at the election of the employer, be computed to the nearest dollar. "(c) WAGE BRACKET WITHHOLDING.- "(1) At the election of the employer with respect to any employee, the employer shall deduct and withhold upon the wages paid to such employee a tax determined in accordance with the following tables, which shall be in lieu of the tax required to be deducted and withheld under subsection (a). 8107°- -4 4-PT. 1 9

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