Surtax On Undistributed Profits
A Surtax was levied on corporations on "undistributed profits", i.e. profits not paid out in dividends, as shown in the following table.
| Revenue Act of 1936 Surtax on Undistributed Profits 49 Stat. 1655 |
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| Application (percent of undistributed net income) |
Surtax Rate (percent) |
||
| up to 10 | 7 | ||
| from 10 to 20 | 12 | ||
| from 20 to 40 | 17 | ||
| from 40 to 60 | 22 | ||
| over 60 | 27 | ||
Read more about this topic: Revenue Act Of 1936, Tax On Corporations
Famous quotes containing the word profits:
“Whoever is content with the world, and who profits from its lack of justice, does not want to change it.”
—Friedrich Dürrenmatt (1921–1990)