Page:United States Statutes at Large Volume 87.djvu/986

 954

Ante,

PUBLIC LAW 93-233-DEC. 31, 1973

p. 153.

Effective date.

49 Stat. 620. 42 USC 1305.

68A Stat. 3. 26 USC 1 et seqf. 86 Stat. 406. Ante.p153.

86 Stat. 1362. 26 USC 3101.

[87 STAT.

(b)(1) ScH'tion l-l-:^(b)(l)(H) of the Intonuil Keveime Code of 1954 (relating to definition of self-employment income) is amended by striking out "$12,600" and inserting in lieu thereof "$18,200". (2) Effective with respect to remuneration paid after 1973, section 3121 (a)(1) of such Code is amended by striking out the dollar amount each place it appears therein and inserting in lieu thereof "$13,200". (3) Effective with respect to remuneration paid after 1973, the second sentence of section 3122 of such Code is amended by striking out the dollar amount and inserting in lieu thereof "$13,200". (4) Effective with respect to remuneration paid after 1973, section 3125 of such Code is amended by striking out the dollar amount each place it appears in subsections (a), (b), and (c) and inserting in lieu thereof "$13,200". (5) Section 6413(c)(1) of such Code (relating to special refunds of employment taxes) is amended by striking out "$12,600" each place it appears and inserting in lieu thereof "$13,200". (6) Section 6413(c)(2)(A) of such Code (relating to refunds of employment taxes in the case of Federal employees) is amended by striking out "$12,600" and inserting in lieu thereof "$13,200". (7) Effective with respect to taxable years beginning after 1973, section 6654(d)(2)(B) (ii) of such Code (relating to failure by individual to pay estimated income tax) is amended by striking out the dollar amount and inserting in lieu thereof "$13,200". (c) Section 230(c) of the Social Security Act is amended by striking out "$12,600^' and inserting in lieu thereof "$13,200". (d) Paragraphs (2)(C), (3)(C), (4)(C), and (7)(C) of section 203(b) of Public Law 92-336 are each amended by striking out "$12,600" and inserting in lieu thereof "$13,200". (g^ ^j^g amendments made by this section, except subsection (a)(4),• shall apply only with respect to remuneration paid after, and taxable years beginning after, 1973. The amendments made by subsection (a)(4) shall apply with respect to calendar years after 1973. (f) The amendments made by this section to provisions of the Social Security Act, the Internal Revenue Code of 1954, and Public Law 92-336 shall be deemed to be made to such provisions as amended by section 203 of Public Law 93-66. -^ C H A X G E S IX TAX

SCHEDULES

SEC. 6. (a)(1) Section 3101(a) of the Internal Revenue Code of 1954 (relating to rate of tax on employees for purposes of old-age, survivors, and disability insurance) is amended by striking out paragraphs (4) through (6) and inserting in lieu thereof the following: "(4) with respect to wages received during the calendar year 1973, the rate shall be 4.85 percent; "(5) with respect to wages received during the calendar years 1974 through 2010, the rate shall be 4.95 percent; and "(6) with respect to wages received after December 31, 2010, the rate shall be 5.95 percent." (2) Section 3111(a) of such Code (relating to rate of tax on employers for purposes of old-age, survivors, and disability insurance) IS amended by striking out paragraphs (4) through (6) and inserting in lieu thereof the following: " (4) with respect to wages paid during the calendar year 1973, the rate shall be 4.85 percent; "(5) with respect to wages paid during the calendar years 1974 through 2010, the rate shall be 4.95 percent; and "(6) with respect to wages paid after December 31, 2010, the rate shall be 5.95 percent.".

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