PUBLIC LAWS-CH. 453 -NOV. 8 , 1945 "f the surtax net income is: Over $50,000 but not over $60,000- ... Over $60,000 but not over $70,000---- Over $70,000 but not over $80,000---- Over $80,000 but not over $90,000-- _ Over $90,000 but not over $100,000- __ Over $100,000 but not over $150,000- _ Over $150,000 but not over $200,000-_ Over $200,000 _---- ---------- __ _ __ _ 58 8tat. 23. I5 U.. C., 8upp. IV, 12 (). Pto, p. 570. 83tat. 18 . 2 U.S..0. 28 (b); Supp. IV , 25 (b). 53 stat. 27 . 2BU.8.0.|51; 8upp. IV. I 51. 56 Stat. 825. 26 U. S. C., Supp. IV,1 23(z)." 3 Stat. 18. IV U. S. C., Supp. IV,12(a) (3). The tentative surtax shall be: $25,320, plus 72% of excess over $50,000. $32,520 , plus $60,000. $40,020 , plus $70,000 . $47,820 , plus $80,000. 75% of excess over 78% of excess over 81% of excess over $55,920, plus 84% of excess over $90,000. $64,320, plus 86% of excess over $100,000. $107,320, plus 87% of excess over $150,000. $150,820, plus 88% of excess over $200,000." (c) LIMITATION ON TAx. -Section 12 (g) (relating to the 90 per centum limitation) is amended by striking out "90 per centum" and inserting in lieu thereof "851/2 per centum'. (d) TAXABBE YEARS TO WHICH APPLICABLE.- The amendments made by this section shall be applicable to taxable years beginning after December 31, 1945. For treatment of taxable years beginning in 1945 and ending in 1946, see section 131. SEC. 102. ALLOWANCE OF SAME EXEMPTIONS FOR NORMAL TAX AS FOR SURTAX. (a) IN GEN RAL.- o -So much of section 25 (b) (relating to credits for surtax) as precedes paragraph (2) thereof is amended to read as follows: "(b) CuBDrrs OR BOTH NORMAL TAX AND SUTTAX.-- "(1) CnmEIT.- T here shall be allowed for the purposes of both the normal tax and the surtax, the following credits against net income: "(A) An exemption of $500 for the taxpayer; "(B) An exemption of $500 for the spouse of the tax- payer if- "(i) a joint return is made by the taxpayer and his spouse under section 51, in which case the aggregate exemption of the spouses under subparagraph (A and this subparagraph shall be $1,000, or "(ii) a separate return is made by the taxpayer, and his spouse has no gross income for the calendar year in which the taxable year of the taxpayer begins and is not the dependent of another taxpayer; "(C) An exemption of $500 for each dependent whose gross income for the calendar year in which the taxable year of the taxpayer begins is less than $500, except that the exemption shall not be allowed in respect of a dependent who has made a joint return with his spouse under section 51 for the taxable year beginning in such calendar year." (b) TEcHNIcAL AMENDM1NTS.-- (1) Section 23 (x) (relating to the deduction for medical expenses) is amended by striking out "surtax" wherever appear- ing therein. (2) Section 25 (a) (3) (relating to the normal tax exemption) is repealed. [59 STAT.
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