Page:United States Statutes at Large Volume 70.djvu/901

 70 S T A T. ]

PUBLIC LAW 880-AUG. 1, 1966

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day of the sixth calendar month following the month in which such plan is approved. In no event shall interest be imposed on the amount of any such tax due under such chapter for any period before the day on which the Secretary of Health, Education, and Welfare approves such plan. CHANGES IN TAX SCHEDULES

SEC. 202. (a) Section 1401 of the Internal Revenue Code of 1954 " use uoi. is amended to read as follows: "SEC. 1401. RATE OF TAX. "In addition to other taxes, there shall be imposed for each taxable year, on the self-employment income of every individual, a tax as follows: "(1) in the case of any taxable year beginning after December 31, 1956, and before January 1, 1960, the tax shall be equal to 3% percent of the amount of the self-employment income for such taxable year; "(2) in the case of any taxable year beginning after December 31, 1959, and before January 1, 1965, me tax shall be equal to Yg percent of the amount of the self-employment income for such taxable year; "(3) in the case of any taxable year beginning after December 31, 1964, and before January 1, 1970, the tax shall be equal to 4% percent of the amount of the self-employment income for such taxable year; "(4) in the case of any taxable year beginning after December 31, 1969, and beforei.January 1, 1975, the tax shall be equal to 5% percent of the amount of the self-employment income for such taxable year; and "(6) in the case of any taxable year beginning after December 31, 1974, th^ tax shall be equal to 6% percent of the amount of the self-employment income for such taxable year." (b) Section 3101 of such code is amended to read as follows: aeuscaioi. "SEC 3101. RATE OF TAX. "In addition to other taxes, there is hereby imposed on the inc(Hne of every individual a tax equal to the following percentages of the wages (as defined in section 3121(a)) receivedl>y him with respect to employment (as defined in section 3121(b))— "(1) with respect to wages received during the calendar years 1957 to 1959, both inclusive, the rate shall be 2i/4 percent; "(2) with respect to wages received during the calendar years 1960 to 1964, botti inclusive, the rate shall be 2% percent: "(3) with respect to wages received during the calendar years 1965 to 1969, both inclusive, the rate shall be 314 percent; "(4) with respect to wages received during the calendar years 1970 to 1974, both inclusive, the rate shall be 3% percent; and "(5) with respect to wages received after December 31, 1974, the rate shall be 414 percent." (c) Section 3111 of such code is amended to read as follows: ^a use siii. "SEC. Sill. RATE OF TAX. "In addition to other taxes, there is hereby imposed on eveij employer an excise tax, with respect to having individuals in his employ, equal to the following percentages of the wages (as defined in section 3121(a)) paid by him with respect to employment (as defined i^„V5^ ^"^124 in section 3121(b))— t39^s4i', tJti ' "(1) with respect to wages paid during the calendar years 1957 to 1969, both inclusive, the rate shall be 214 percent;

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