Income Tax For Individuals
A Normal Tax and a Surtax were levied against the net income of individuals as shown in the following table.
| Revenue Act of 1918 Income Tax on Individuals 40 Stat. 1062 |
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| Net Income (dollars) |
Normal Rate for 1918 (percent) |
Normal Rate for 1919, 1920 (percent) |
Surtax Rate (percent) |
Combined Rate for 1918 (percent) |
Combined Rate for 1919, 1920 (percent) |
| 0 | 6 | 4 | 0 | 6 | 4 |
| 4,000 | 12 | 8 | 0 | 12 | 8 |
| 5,000 | 12 | 8 | 1 | 13 | 9 |
| 6,000 | 12 | 8 | 2 | 14 | 10 |
| 8,000 | 12 | 8 | 3 | 15 | 11 |
| 10,000 | 12 | 8 | 4 | 16 | 12 |
| 12,000 | 12 | 8 | 5 | 17 | 13 |
| 14,000 | 12 | 8 | 6 | 18 | 14 |
| 16,000 | 12 | 8 | 7 | 19 | 15 |
| 18,000 | 12 | 8 | 8 | 20 | 16 |
| 20,000 | 12 | 8 | 9 | 21 | 17 |
| 22,000 | 12 | 8 | 10 | 22 | 18 |
| 24,000 | 12 | 8 | 11 | 23 | 19 |
| 26,000 | 12 | 8 | 12 | 24 | 20 |
| 28,000 | 12 | 8 | 13 | 25 | 21 |
| 30,000 | 12 | 8 | 14 | 26 | 22 |
| 32,000 | 12 | 8 | 15 | 27 | 23 |
| 34,000 | 12 | 8 | 16 | 28 | 24 |
| 36,000 | 12 | 8 | 17 | 29 | 25 |
| 38,000 | 12 | 8 | 18 | 30 | 26 |
| 40,000 | 12 | 8 | 19 | 31 | 27 |
| 42,000 | 12 | 8 | 20 | 32 | 28 |
| 44,000 | 12 | 8 | 21 | 33 | 29 |
| 46,000 | 12 | 8 | 22 | 34 | 30 |
| 48,000 | 12 | 8 | 23 | 35 | 31 |
| 50,000 | 12 | 8 | 24 | 36 | 32 |
| 52,000 | 12 | 8 | 25 | 37 | 33 |
| 54,000 | 12 | 8 | 26 | 38 | 34 |
| 56,000 | 12 | 8 | 27 | 39 | 35 |
| 58,000 | 12 | 8 | 28 | 40 | 36 |
| 60,000 | 12 | 8 | 29 | 41 | 37 |
| 62,000 | 12 | 8 | 30 | 42 | 38 |
| 64,000 | 12 | 8 | 31 | 43 | 39 |
| 66,000 | 12 | 8 | 32 | 44 | 40 |
| 68,000 | 12 | 8 | 33 | 45 | 41 |
| 70,000 | 12 | 8 | 34 | 46 | 42 |
| 72,000 | 12 | 8 | 35 | 47 | 43 |
| 74,000 | 12 | 8 | 36 | 48 | 44 |
| 76,000 | 12 | 8 | 37 | 49 | 45 |
| 78,000 | 12 | 8 | 38 | 50 | 46 |
| 80,000 | 12 | 8 | 39 | 51 | 47 |
| 82,000 | 12 | 8 | 40 | 52 | 48 |
| 84,000 | 12 | 8 | 41 | 53 | 49 |
| 86,000 | 12 | 8 | 42 | 54 | 50 |
| 88,000 | 12 | 8 | 43 | 55 | 51 |
| 90,000 | 12 | 8 | 44 | 56 | 52 |
| 92,000 | 12 | 8 | 45 | 57 | 53 |
| 94,000 | 12 | 8 | 46 | 58 | 54 |
| 96,000 | 12 | 8 | 47 | 59 | 55 |
| 98,000 | 12 | 8 | 48 | 60 | 56 |
| 100,000 | 12 | 8 | 52 | 64 | 60 |
| 150,000 | 12 | 8 | 56 | 68 | 64 |
| 200,000 | 12 | 8 | 60 | 72 | 68 |
| 300,000 | 12 | 8 | 63 | 75 | 71 |
| 500,000 | 12 | 8 | 64 | 76 | 72 |
| 1,000,000 | 12 | 8 | 65 | 77 | 73 |
- Exemption of $1,000 for single filers and $2,000 for married couples and head of family; $200 exemption for each dependent under 18.
Read more about this topic: Revenue Act Of 1918
Famous quotes containing the words income, tax and/or individuals:
“You boast of spending a tenth part of your income in charity; maybe you should spend the nine tenths so, and done with it.”
—Henry David Thoreau (1817–1862)
“People buy their necessities in shops and have to pay dearly for them because they have to assist in paying for what is also on sale there but only rarely finds purchasers: the luxury and amusement goods. So it is that luxury continually imposes a tax on the simple people who have to do without it.”
—Friedrich Nietzsche (1844–1900)
“Poor America, of what avail is all her wealth, if the individuals comprising the nation are wretchedly poor? If they live in squalor, in filth, in crime, with hope and joy gone, a homeless, soilless army of human prey.”
—Emma Goldman (1869–1940)