The United States Second Revenue Act of 1940 created a corporate excess profits tax (top rate 50%) and increased corporate tax rates (top rate from 33% to 35%).
Famous quotes containing the words revenue and/or act:
“If you tax too high, the revenue will yield nothing.”
—Ralph Waldo Emerson (1803–1882)
“To act the part of a true friend requires more conscientious feeling than to fill with credit and complacency any other station or capacity in social life.”
—Sarah Ellis (1812–1872)