Page:United States Statutes at Large Volume 72 Part 1.djvu/1083

 72

STAT.]

PUBLIC LAW 85-840-AUG. 28. 1968

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sions of subsection (d) of such section) to consist of a separate retirement system with respect to the positions of such teachers and a separate retirement system with respect to the positions of such other employees; and for the purposes of this sentence, the term "teacher" shall mean any teacher, principal, supervisor, school nurse, school dietitian, school secretary or superintendent employed in any public school, including teachers in unorganized territory.

TITLE IV-^AMENDMENTS TO THE INTERNAL REVENUE CODE OF 1954 C H A N G E S I N TAX S C H E D U L E S

Self-Employment Income Tax SEC. 401. (a) Section 1401 of the Internal Revenue Code of 1954 (relating to rate of tax on self-employment income) is amended to read as follows: "SEC. 1401. RATE OF TAX. " I n 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, 1958, 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, 1963, the tax shall be equal to 41/2 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, 1962, and before January 1, 1966, the tax shall be equal to 514 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, 1965, and before January 1, 1969, the tax shall be equal to 6 percent of the amount of the self-employment income for such taxable year; and "(5) in the case of any taxable year beginning after December 31, 1968, the tax shall be equal to 6% percent of the amount of the self-employment income for such taxable year."

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Tax on Employees (b) Section 3101 of such Code (relating to rate of tax on em26 USC 3101. ployees under the Federal Insurance Contributions Act) is amended to read as follows: "SEC. 3101. RATE OF TAX. " I n addition to other taxes, there is hereby imposed on the income of every individual a tax equal to the following percentages of the wages (as defined in section 3121(a)) received by him with respect Post, p. 1042. to employment (as defined in section 3121(b)) — t,^°*'' ^' ^°'*'*" 1046. "(1) with respect to wages received during the calendar year 1959, the rate shall be 2^^ percent; "(2) with respect to wages received during the calendar years 1960 to 1962, both inclusive, the rate shall be 3 percent; "(3) with respect to wages received during the calendar years 1963 to 1965, both inclusive, the rate shall be 31/2 percent;

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