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 and/or individuals:
“Rumble thy bellyful! Spit, fire! Spout, rain!
Nor rain, wind, thunder, fire are my daughters.
I tax you not, you elements, with unkindness;
I never gave you kingdom, called you children.”
—William Shakespeare (1564–1616)
“Society does not consist of individuals but expresses the sum of interrelations, the relations within which these individuals stand.”
—Karl Marx (1818–1883)