Page:United States Statutes at Large Volume 59 Part 1.djvu/575

 59 STAT.] 79TH CONG. , lST SESS.-CH. 45- -NOV. 8, 1945 TITLE I-INCOME AND EXCESS PROFITS TAX Part I-Individual Income Taxes SEC. 101. REDUCTION IN NORMAL TAX AND SURTAX ON INDI- VIDUALS. (a) REDUCTION IN NORMAL TAX ON INDIVIDUALS. -Section 11 (relat- ing to the normal tax on individuals) is amended to read as follows: "SEC. 11 . NORMAL TAX ON INDIVIDUALS. "There shall be levied, collected, and paid for each taxable year upon the net income of every individual a normal tax determined by computing a tentative normal tax of 3 per centum of the amount of the net income in excess of the credits against net income provided in section 25, and by reducing such tentative normal tax by 5 per centum thereof. For alternative tax which may be elected if adjusted gross income is less than $5,000, see Supplement T." (b) REDUIrIONW rSURTAX ON NDIVIDUAL.- -Section 12 (b) (relat- ing to the rate of surtax on individuals) is amended to read as follows: "(b) RATES OF SuaTAX. -- There shall be levied, collected, and paid for each taxable year upon the surtax net income of every individual a surtax determined by computing a tentative surtax under the follow- ing table, and by reducing such tentative surtax by 5 per centum thereof: 557 63 Stat. 5. 26 U. S. C., 8upp. IV, I 11. 53 Stat. 17. 26U.S.C.i2a; SupP. IV, 125. P ,P. Sa8. 55 8tat. 89 . 26 U. S. C., Supp. IV, hi 40 -404. Poi, pp. 55s Mo. 53 Stat. 5. 26 U. 8. C., Supp. IV, 12. "If the surtax net income is: Not over $2,000- Over $2,000 but not over $4,000- Over $4,000 but not over $6,000 Over $6,000 but not over $8,000  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- - The tentative surtax shall be: 17% of the surtax net income. $340, plus 19% of excess over $2,000 . $720, plus 23% of excess over $4,000. $1,180, plus $6,000. $1,720, plus 31% $8,000 . $2,840, plus 85% $10,000. $3,040, plus 40% $12,000. $3,840, plus 44% $14,000. $4,720, plus 47% $16,000. $5,660, plus 50% $18,000. $6,660, plus 53% $20,000. $7,720, plus 56% $22,000. $9,960, plus 59% $26,000. $13,500, plus 62% $32,000. $17,220, plus 66% $38,000. $21,180, plus 69% 44,000. 27% of excess over of of of of of of of of of of of of excess excess excess excess excess excess excess excess excess excess excess excess over over over over over over over over over over over over

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