Revenue Act of 1942 - Tax On Individuals

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 1942
Normal Tax and Surtax on Individuals

56 Stat. 802

Net Income
(dollars)		 Normal Rate
(percent)		 Surtax Rate
(percent)		 Combined Rate
(percent)
0 6 13 19
2,000 6 16 22
4,000 6 20 26
6,000 6 24 30
8,000 6 28 34
10,000 6 32 38
12,000 6 36 42
14,000 6 40 46
16,000 6 43 49
18,000 6 46 52
20,000 6 49 55
22,000 6 52 58
26,000 6 55 61
32,000 6 58 64
38,000 6 61 67
44,000 6 63 69
50,000 6 66 72
60,000 6 69 75
70,000 6 72 79
80,000 6 75 82
90,000 6 77 84
100,000 6 79 85
150,000 6 81 87
200,000 6 82 88
  • Exemption of $500 for single filers and $1,200 for married couples and heads of family. A $350 exemption for each dependent under 18.

Read more about this topic:  Revenue Act Of 1942

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