PUBLIC LAWS-OH. 146-MAY 27, 1949 61 Stat. 343. D. C. Code, Supp. VII, t 47-1567a. Fractional year. 61 Stat. 344 . D. C . Code, Supp. VII, § 47-1567b. 61 Stat. 344 . D. C . Code, Supp. VII, § 47-1567c. 61 Stat. 347. D. C . Code, Supp. VII, § 47-1577d. 61 Stat. 343 . D. C . Code, Supp. VII, § 47-1567a (a). Supra. 61 Stat. 346. D. C. Code, Supp. VII, § 47-1574c. 61 Stat. 354 . D. C . Code, Supp. VII, 1 47-1586i (a) (4). $4,000. In such cases a separate return shall be filed by each spouse showing his respective portion of such gross income, gross sales, or gross receipts as the case may be, and no joint return of income or computation thereof by them shall be required or per- mitted under this article except such returns as are required under section 2 (c),2 (f),and2 (g) of this title. "(b) FmucIARIEs.-Every fiduciary (except a receiver appointed by authority of law in possession of part only of the property of an individual) for- "(1) every individual for whom he acts having a gross income for the taxable year of $4,000 or over, regardless of the amount of the individual's net income; "(2) every estate for which he acts, the gross income of which for the taxable year is $4,000 or over, regardless of the amount of the net income of the estate; and "(3) every trust for which he acts, the net income of which for the taxable year is $100 or over." SEC. 412 . Section 2 of title VI of article I of said Act is hereby amended to read as follows: "SEC. 2 . PERSONAL EXEMPTIONS AND CREDrr FOR DEPENDENTS. - T here shall be allowed to residents the following credits against net income: "(a) An exemption of $4,000 for the taxpayer. "(b) An exemption of $500 for each dependent, as defined in this article, whose gross income for the calendar year in which the taxable year of the taxpayer begins is less than $500. "(c) Beginning with the first taxable year to which this article is applicable and in succeeding taxable years, the amount allowed under subsection (a) of this section shall be prorated to the day of death in the final return of a decedent dying before the end of the taxable year, and as of the date of death the personal exemption is terminated and not extended over the remainder of the taxable year. "(d) In the case of a return made for a fractional part of a year, the personal exemption and credits for dependents shall be reduced, respectively, to amounts which bear the same ratio to the full credits provided as the number of months in the period for which the return is made bears to twelve months." SEC. 413. Section 3 of title VI of article I of said Act is amended to read as follows: "SEC. 3 . IMPOSITION AND RATE OF TAX.- There is hereby annuallv levied and imposed for each taxable year upon the taxable income of every resident a tax at the following rates: "ne and one-half per centum on the first $5,000 of taxable income. "Two per centum on the next $5,000 of taxable income. "Two and one-half per centum on the next $5,000 of taxable income. "Three per centum on the taxable income in excess of $15,000." SEC. 414. Section 4 of title VI of article I of said Act is repealed. SEC. 415. Section 5 of title IX of article I of said Act is amended by adding thereto the following new subsections: "(d) There shall be allowed to an estate the same exemption as is allowed residents under the provisions of section 2 (a) of title VI of this article. "(e) There shall be allowed to a trust a credit against net income of $100." SEC. 416. Section 4 of title VIII of article I of said Act is amended by striking out the figure "$10,000" and inserting in lieu thereof the figure "$5,000". SEc. 417. Section 10 (a) (4) of title XII of article I of said Act is amended to read as follows: 132 [63 STAT.
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