Page:United States Statutes at Large Volume 58 Part 1.djvu/252

 PUBLIC LAWS-CH. 210-MAY 29, 1944 "If the surtax net income is: Over $8,000 but not over $10,000 Over $10,000 but not over $12,000-- Over $12,000 but not over $14,000- _ Over $14,000 but not over $16,000-- Over $16,000 but not over $18,000--- Over $18,000 but not over $20,000-- Over $20,000 but not over $22,000-- Over $22,000 but not over $26,000-- Over $26,000 but not over $32,000--- Over $32,000 but not over $38,000-- Over $38,000 but not over $44,000-- Over $44,000 but not over $50,000-- Over $50,000 but not over $60,000-- Over $60,000 but not over $70,000 -- Over $70,000 but not over $80,000-- Over $80,000 but not over $90,000- _ Over $90,000 but not over $100,000- Over $100,000 but not over $150,000- Over $150,000 but not over $200,000- nOver S2M 0n The surtax shall be: $1,960, plus 34% of excess over $8,000. $2,640, plus 38% of excess over $10,000. $3,400, plus 43% of excess over$12,000. $4,260, plus 47% of excess over$14,000. $5,200,plus 50% of excess over$16,000. $6,200, plus 53% of excess over $18,000. $7,260, plus 56% of excess over$20,000. $8,380, plus 59% of excess over$22,000. $10,740, plus f $26,000. $14,460, plus l $32,000. $18,360, plus ( $38,000. $22,500, plus $44,000. $26,820, plus $50,000. $34,320, plus $60,000. $42,120, plus $70,000. $50,220, plus $80,000. $58,620, plus $90,000. $67,320, plus $100,000. $111,820, plus $150,000 . $156,820, plus $200,000." 62% of excess over 85% of excess over 39% 72% 75% 78% 81% 84% 87% 89% of excess over of excess over of excess over of excess over of excess over of excess over of excess over of excess over 90% of excess over 91% of excess over 15Stat. a. 26 U.. . ., Supp. III, § 12 (g). Ante, p. 31. 63 Stat. 24; W Stat. 893. 26U. 0.. 31, 32; Supp. III, J . Infra. U5Stat. U89. 26 U. 8. C., Bupp. 11, it 400-04 nte, pp.26,81; VW, p. 6?7. Ante, p. 231; ura. a3 Stat. 5. 26 U. . . 12; Supp. In, 112. (b) LIMITATION ON AGGREGATE TAx. - Section 12 is amended by striking out subsection (g) and inserting in lieu thereof the following: "(g) LIMITATION ON TAx. -The tax imposed by this section and section 11, computed without regard to the credits provided in sec- tions 31, 32 and 35, shall in no event exceed in the aggregate 90 per centum of the net income of the taxpayer for the taxable year. "(h) ALTERNATIVE TAx. -For alternative tax which may be elected if adjusted gross income is less than $5,000, see Supplement T." SEC. 5. ALTERNATIVE TAX ON INDIVIDUALS WITH ADJUSTED GROSS INCOME OF LESS THAN $5000. (a) IN GENEIAL--Supplement T of Chapter 1 (relating to the alternative tax on individuals with gross income from certain sources of less than $3,000) is amended to read as follows: "Supplement T-Individuals with Adjusted Gross Income of Less than $5,000 "SEC. 400. IMPOSITION OF TAX. "In lieu of the taxes imposed by sections 11 and 12, there shall be levied, collected, and paid for each taxable year upon the net income of each individual whose adjusted gross income for such year is less than $5,000, and who has elected to pay the tax imposed by this sup- plement for such year, the tax shown in the following table: 232 [58 STAT. .r. ,

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