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PUBLIC LAW 85-840-.AUG. 28, 1958
[72 S T A T.
" (4) with respect to wages received during the calendar years 1966 to 1968, both inclusive, the rate shall be 4 percent; and "(5) with respect to wages received after December 31, 1968, the rate shall be 41/2 percent." Tax on Employers 26 USC 3111.
(c) Section 3111 of such Code (relating to rate of tax on employers under the Federal Insurance Contributions Act) is amended to read as follows: "SEC. 3111. RATE OF TAX. " I n addition to other taxes, there is hereby imposed on every 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 jjjos^ pp- 1044, defined in section 3121(b)) — " (1) with respect to wages paid during the calendar year 1959, the rate shall be 21/2 percent; "(2) with respect to wages paid during the calendar years 1960 to 1962, both inclusive, the rate shall be 3 percent; "(3) with respect to wages paid during the calendar years 1963 to 1965, both inclusive, the rate shall be 31/2 percent; "(4) with respect to wages paid during the calendar years 1966 to 1968, both inclusive, the rate shall be 4 percent; and "(5) with respect to wages paid after December 31, 1968, the rate shall be 4% percent." Effective Dates (d) The amendment made by subsection (a) shall apply with respect to taxable years beginning after December 31, 1958. The amendments made by subsections (b) and (c) shall apply with respect to remuneration paid after December 31, 1958. I N C R E A S E I N TAX BASE
Definition of Self-Employment Income 26 USC 1402.
gj,(, 402. (a)(1) Subparagraph (B) of section 1402(b)(1) of the Internal Revenue Code of 1954 is amended to read as follows: " (B) for any taxable year ending after 1954 and before 1959, (i) $4,200, minus (ii) the amount of the wages paid to such individual during the taxable year; and". (2) Paragraph (1) of section 1402(b) of such Code is further amended by adding at the end thereof the following new subparagraph: " (C) for any taxable year ending after 1958, (i) $4,800, minus (ii) the amount 01 the wages paid to such individual during the taxable year; or". Definition of Wages
26 USC 3121.
(b) Section 3121(a) of such Code (relating to the definition of wages) is amended by striking out "$4,200" wherever it appears and inserting in lieu thereof "$4,800". Federal Service
26 USC 3122.
(^Q^ Section 3122 of such Code (relating to Federal service) is amended by striking out "$4,200" wherever it appears and inserting in lieu thereof "$4,800^
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