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 1941 Normal Tax and Surtax on Individuals 55 Stat. 688 |
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| Net Income (dollars) |
Normal Rate (percent) |
Surtax Rate (percent) |
Combined Rate (percent) |
| 0 | 4 | 6 | 10 |
| 2,000 | 4 | 9 | 13 |
| 4,000 | 4 | 13 | 17 |
| 6,000 | 4 | 17 | 21 |
| 8,000 | 4 | 21 | 25 |
| 10,000 | 4 | 25 | 29 |
| 12,000 | 4 | 29 | 31 |
| 14,000 | 4 | 32 | 36 |
| 16,000 | 4 | 35 | 39 |
| 18,000 | 4 | 38 | 42 |
| 20,000 | 4 | 41 | 45 |
| 22,000 | 4 | 44 | 48 |
| 26,000 | 4 | 47 | 51 |
| 32,000 | 4 | 50 | 54 |
| 38,000 | 4 | 53 | 57 |
| 44,000 | 4 | 55 | 59 |
| 50,000 | 4 | 57 | 61 |
| 60,000 | 4 | 59 | 63 |
| 70,000 | 4 | 61 | 65 |
| 80,000 | 4 | 63 | 67 |
| 90,000 | 4 | 64 | 68 |
| 100,000 | 4 | 65 | 69 |
| 150,000 | 4 | 66 | 70 |
| 200,000 | 4 | 67 | 71 |
| 250,000 | 4 | 69 | 73 |
| 300,000 | 4 | 71 | 75 |
| 400,000 | 4 | 72 | 76 |
| 500,000 | 4 | 73 | 77 |
| 750,000 | 4 | 74 | 78 |
| 1,000,000 | 4 | 75 | 79 |
| 2,000,000 | 4 | 76 | 80 |
| 5,000,000 | 4 | 77 | 81 |
- Exemption of $750 for single filers and $1,500 for married couples and heads of family. A $400 exemption for each dependent under 18.
Read more about this topic: Revenue Act Of 1941
Famous quotes containing the words tax on, 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)
“I find nothing healthful or exalting in the smooth conventions of society. I do not like the close air of saloons. I begin to suspect myself to be a prisoner, though treated with all this courtesy and luxury. I pay a destructive tax in my conformity.”
—Ralph Waldo Emerson (1803–1882)
“It contributes greatly towards a man’s moral and intellectual health, to be brought into habits of companionship with individuals unlike himself, who care little for his pursuits, and whose sphere and abilities he must go out of himself to appreciate.”
—Nathaniel Hawthorne (1804–1864)