Tax On Individuals
A Normal Tax and a Surtax were levied against the net income of individuals as shown in the following table.
| Revenue Act of 1921 Normal Tax and Surtax on Individuals 42 Stat. 233 |
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| Net Income | Normal Rate | Surtax applicable to 1921 |
Surtax applicable to 1922 and thereafter |
||
| (dollars) | (percent) | Surtax Rate (percent) |
Combined Rate (percent) |
Surtax Rate (percent) |
Combined Rate (percent) |
| 0 | 4 | 0 | 4 | 0 | 4 |
| 4,000 | 8 | 0 | 8 | 0 | 8 |
| 5,000 | 8 | 1 | 9 | 0 | 8 |
| 6,000 | 8 | 2 | 10 | 1 | 9 |
| 8,000 | 8 | 3 | 11 | 1 | 9 |
| 10,000 | 8 | 4 | 12 | 2 | 10 |
| 12,000 | 8 | 5 | 13 | 3 | 11 |
| 14,000 | 8 | 6 | 14 | 4 | 12 |
| 16,000 | 8 | 7 | 15 | 5 | 13 |
| 18,000 | 8 | 8 | 16 | 6 | 14 |
| 20,000 | 8 | 9 | 17 | 8 | 16 |
| 22,000 | 8 | 10 | 18 | 9 | 17 |
| 24,000 | 8 | 11 | 19 | 10 | 18 |
| 26,000 | 8 | 12 | 20 | 11 | 19 |
| 28,000 | 8 | 13 | 21 | 12 | 20 |
| 30,000 | 8 | 14 | 22 | 13 | 21 |
| 32,000 | 8 | 15 | 23 | 15 | 23 |
| 34,000 | 8 | 16 | 24 | 15 | 23 |
| 36,000 | 8 | 17 | 25 | 16 | 24 |
| 38,000 | 8 | 18 | 26 | 17 | 25 |
| 40,000 | 8 | 19 | 27 | 18 | 26 |
| 42,000 | 8 | 20 | 28 | 19 | 27 |
| 44,000 | 8 | 21 | 29 | 20 | 28 |
| 46,000 | 8 | 22 | 30 | 21 | 29 |
| 48,000 | 8 | 23 | 31 | 22 | 30 |
| 50,000 | 8 | 24 | 32 | 23 | 31 |
| 52,000 | 8 | 25 | 33 | 24 | 32 |
| 54,000 | 8 | 26 | 34 | 25 | 33 |
| 56,000 | 8 | 27 | 35 | 26 | 34 |
| 58,000 | 8 | 28 | 36 | 27 | 35 |
| 60,000 | 8 | 29 | 37 | 28 | 36 |
| 62,000 | 8 | 30 | 38 | 29 | 37 |
| 64,000 | 8 | 31 | 39 | 30 | 38 |
| 66,000 | 8 | 32 | 40 | 31 | 39 |
| 68,000 | 8 | 33 | 41 | 32 | 40 |
| 70,000 | 8 | 34 | 42 | 33 | 41 |
| 72,000 | 8 | 35 | 43 | 34 | 42 |
| 74,000 | 8 | 36 | 44 | 35 | 43 |
| 76,000 | 8 | 37 | 45 | 36 | 44 |
| 78,000 | 8 | 38 | 46 | 37 | 45 |
| 80,000 | 8 | 39 | 47 | 38 | 46 |
| 82,000 | 8 | 40 | 48 | 39 | 47 |
| 84,000 | 8 | 41 | 49 | 40 | 48 |
| 86,000 | 8 | 42 | 50 | 41 | 49 |
| 88,000 | 8 | 43 | 51 | 42 | 50 |
| 90,000 | 8 | 44 | 52 | 43 | 51 |
| 92,000 | 8 | 45 | 53 | 44 | 52 |
| 94,000 | 8 | 46 | 54 | 45 | 53 |
| 96,000 | 8 | 47 | 55 | 46 | 54 |
| 98,000 | 8 | 48 | 56 | 47 | 55 |
| 100,000 | 8 | 52 | 60 | 48 | 56 |
| 150,000 | 8 | 56 | 64 | 49 | 57 |
| 200,000 | 8 | 60 | 68 | 50 | 58 |
| 300,000 | 8 | 63 | 71 | ||
| 500,000 | 8 | 64 | 72 | ||
| 1,000,000 | 8 | 65 | 73 | ||
- Exemption of $1,000 for single filers and $2,500 for married couples and heads of family. A $400 exemption for each dependent under 18. Married couple exemption is reduced to $2,000 for net income over $5,000.
Read more about this topic: Revenue Act Of 1921
Famous quotes containing the words tax on, tax and/or individuals:
“I have no doubt that it was a principle they fought for, as much as our ancestors, and not to avoid a three-penny tax on their tea; and the results of this battle will be as important and memorable to those whom it concerns as those of the battle of Bunker Hill, at least.”
—Henry David Thoreau (1817–1862)
“I come into the peace of wild things
who do not tax their lives with forethought
of grief.”
—Wendell Berry (b. 1934)
“The human plagiarism which is most difficult to avoid, for individuals ... is the plagiarism of ourself.”
—Marcel Proust (1871–1922)