461
PUBLIC LAW 183—OCT. 20, 1951
65 STAT.]
'*If the surtax net income i s: Over $14,000 but not over $16,000— Over $16,000 but not over $18,000___ Over $18,000 but not over $20,000_— Over $20,000 but not over $22,000— Over $22,000 but not over $26,000— Over $26,000 but not over $32,000— Over $32,000 but not over $38,000— Over $38,000 but not over $44,000— Over $44,000 but not over $50,000— 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
The surtax shall b e: $3,840, plus 44% of $14,000. $4,720, plus 47% of $16,000. $5,660, plus 50% of $18,000. $6,660, plus 53% of $20,000. $7,720, plus 56% of $22,000. $9,960, plus 59% of $26,000. $13,500, plus 62% of $32,000. $17,220, plus 66% of $38,000. $21,180, plus 69% of $44,000. $25,320, plus 72% of $50,000. $32,520, plus 75% of $60,000. $40,020, plus 78% of $70,000. $47,820, plus 81% of $80,000. $55,920, plus 84% of $90,000. $64,320, plus 86% of $100,000. $107,320, plus 87% of $150,000. $150,820, plus 88% of $200,000."
excess over excess over excess over excess over excess over excess over excess over excess over excess over excess over excess over excess over excess over excess over excess over excess over excess over
(b) L i m i t a t i o n O n T a x. — S e c t i o n 12 (f) ( r e l a t i n g to l i m i t a t i o n on tax) is hereby amended to read as follows: "(f)
53 Stat. 7. 26 U.S.C. § 12 (f).
L I M I T A T I O N ON T A X. —
"(1)
CALENDAR TEAR
I 9 5 1. — I n the case of a tax a b l e
year
b e g i n n i n g on January 1, 1951, and e n d i n g December 31, 1951, the combined n o r m a l tax and s u r tax shall in n o event exceed 87.2 p e r c e n t u m of the net income for the tax a b l e year. "(2)
TAXABLE
YEARS B E G I N N I N G
AFTER OCTOBER 3 1,
1951, A N D
BEFORE JANUARY 1, 19 54.—III the case of tax a b l e year s b e g i n n i n g after October 31, 1951, and before January 1, 1954, the combined n o r m a l tax and s u r tax shall i n n o event exceed 88 p e r c e n t u m of the n e t income of the tax a b l e year. "(3)
T A X A B L E TEARS BEGINNING AFTER DECEMBER 31, 1953.—In
the case of tax a b l e year s b e g i n n i n g after December 31, 1953, the combined n o r m a l tax and s u r tax shall i n n o event exceed 87 p e r c e n t u m of the n e t income for the taxable year. " SEC. 102. INDIVIDUALS WITH ADJUSTED GROSS INCOME OF LESS THAN $5,000. Section 400 ( r e l a t i n g to o p t i o n a l tax on i n d i v i d u a l s w i t h adjusted gross incomes of less than $5,000) is hereby amended by striking o u t the tables c o n t a i n e d therein and inserting i n lieu thereof the following:
56 Stat. 689; 64 Stat, 911. 26 U.S.C. §400.
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