Page:United States Statutes at Large Volume 95.djvu/208

 95 STAT. 182

PUBLIC LAW 97-34—AUG. 13, 1981 "(2) FOR TAXABLE YEARS B E G I N N I N G I N 1983.—

"If taxable income is: Not over $1,050 Over $1,050 but not over $2,100 Over $2,100 but not over $4,250 Over $4,250 but not over $6,300 Over $6,300 but not over $8,400 Over $8,400 but not over $10,600 Over $10,600 but not over $13,250 Over $13,250 but not over $15,900 Over $15,900 but not over $21,200 Over $21,200 but not over $28,300 Over $28,300 but not over $41,100 Over $41,100 but not over $53,000 Over $53,000

The tax is: 11% of taxable income. $115, plus 13% of the excess $1,050. $252, plus 15% of the excess $2 100. $574*, plus 17% of the excess $4,250. $923, plus 19% of the excess $6,300. $1,322, plus 23% of the excess $8,400. $1,828, plus 26% of the excess $10,600. $2,517, plus 30% of the excess $13,250. $3,312, plus 35% of the excess $15,900. $5,167, plus 40% of the excess $21 200. $8,007, plus 44% of the excess $28,300. $13,639, plus 48% of the excess $41,100. $19,351, plus 50% of the excess $53,000.

over over over over over over over over over over over over

"(3) FOR TAXABLE YEARS B E G I N N I N G AFTER 1983.—

"If taxable income is: Not over $1,050 Over $1,050 but not over $2,100

26 USC 6428.

The tax is: 11% of taxable income. $115, plus 12% of the excess over $1,050. Over $2,100 but not over $4,250 $241, plus 14% of the excess over $2,100. Over $4,250 but not over $6,300 $542, plus 16% of the excess over $4,250. Over $6,300 but not over $8,400 $870, plus 18% of the excess over $6,300. Over $8,400 but not over $10,600 $1,248, plus 22% of the excess over $8,400. Over $10,600 but not over $13,250 $1,732, plus 25% of the excess over $10,600. Over $13,250 but not over $15,900 $2,395, plus 28% of the excess over $13,250. Over $15,900 but not over $21,200 $3,137, plus 33% of the excess over $15,900. Over $21,200 but not over $28,300 $4,886, plus 38% of the excess over $21 200. Over $28,300 but not over $41,100 $7,584, plus 42% of the excess over $28,300. Over $41,100 but not over $53,000 $12,960, plus 45% of the excess over $41,100. Over $53,000 but not over $79,500 $18,315, plus 49% of the excess over $53,000. Over $79,500 $31,300, plus 50% of the excess over $79,500." (b) CREDIT TO REFLECT EQUIVALENT 1981 RATE REDUCTION.— (1) j ^ GENERAL.—Section 6428 (relating to refund of 1974 individual income taxes) is amended to read as follows: "SEC. 6428.1981 RATE REDUCTION TAX CREDIT. "(a) ALLOWANCE OF CREDIT.—There shall be allowed as a credit against the tax imposed by section 1, or against a tax imposed in lieu of the tax imposed by section 1, for any taxable year beginning in 1981, an amount equal to the product of— "(1) 1.25 percent, multiplied by "(2) the amount of tax imposed by section 1 (or in lieu thereof) for such taxable year. "(b) SPECIAL RULES FOR APPLICATION OF THIS SECTION.—

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