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 1932 Normal Tax and Surtax on Individuals 47 Stat. 174 |
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| Net Income (dollars) |
Normal Rate (percent) |
Surtax Rate (percent) |
Combined Rate (percent) |
| 0 | 4 | 0 | 4 |
| 4,000 | 8 | 0 | 8 |
| 6,000 | 8 | 1 | 9 |
| 10,000 | 8 | 2 | 10 |
| 12,000 | 8 | 3 | 11 |
| 14,000 | 8 | 4 | 12 |
| 16,000 | 8 | 5 | 13 |
| 18,000 | 8 | 6 | 14 |
| 20,000 | 8 | 8 | 16 |
| 22,000 | 8 | 9 | 17 |
| 24,000 | 8 | 10 | 18 |
| 26,000 | 8 | 11 | 19 |
| 28,000 | 8 | 12 | 20 |
| 30,000 | 8 | 13 | 21 |
| 32,000 | 8 | 15 | 23 |
| 36,000 | 8 | 16 | 24 |
| 38,000 | 8 | 17 | 25 |
| 40,000 | 8 | 18 | 26 |
| 42,000 | 8 | 19 | 27 |
| 44,000 | 8 | 20 | 28 |
| 46,000 | 8 | 21 | 29 |
| 48,000 | 8 | 22 | 30 |
| 50,000 | 8 | 23 | 31 |
| 52,000 | 8 | 24 | 32 |
| 54,000 | 8 | 25 | 33 |
| 56,000 | 8 | 26 | 34 |
| 58,000 | 8 | 27 | 35 |
| 60,000 | 8 | 28 | 36 |
| 62,000 | 8 | 29 | 37 |
| 64,000 | 8 | 30 | 38 |
| 66,000 | 8 | 31 | 39 |
| 68,000 | 8 | 32 | 40 |
| 70,000 | 8 | 33 | 41 |
| 72,000 | 8 | 34 | 42 |
| 74,000 | 8 | 35 | 43 |
| 76,000 | 8 | 36 | 44 |
| 78,000 | 8 | 37 | 45 |
| 80,000 | 8 | 38 | 46 |
| 82,000 | 8 | 39 | 47 |
| 84,000 | 8 | 40 | 48 |
| 86,000 | 8 | 41 | 49 |
| 88,000 | 8 | 42 | 50 |
| 90,000 | 8 | 43 | 51 |
| 92,000 | 8 | 44 | 52 |
| 94,000 | 8 | 45 | 53 |
| 96,000 | 8 | 46 | 54 |
| 98,000 | 8 | 47 | 55 |
| 100,000 | 8 | 48 | 56 |
| 150,000 | 8 | 49 | 57 |
| 200,000 | 8 | 50 | 58 |
| 300,000 | 8 | 51 | 59 |
| 400,000 | 8 | 52 | 60 |
| 500,000 | 8 | 53 | 61 |
| 750,000 | 8 | 54 | 62 |
| 1,000,000 | 8 | 55 | 63 |
- 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.
Read more about this topic: Revenue Act Of 1932
Famous quotes containing the words tax and/or individuals:
“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)
“Generalisation is necessary to the advancement of knowledge; but particularly is indispensable to the creations of the imagination. In proportion as men know more and think more they look less at individuals and more at classes. They therefore make better theories and worse poems.”
—Thomas Babington Macaulay (1800–1859)