Income Tax For Individuals
A Normal Tax and a Surtax were levied against the net income of individuals as shown in the following table.
| Revenue Act of 1918 Income Tax on Individuals 40 Stat. 1062 |
|||||
| Net Income (dollars) |
Normal Rate for 1918 (percent) |
Normal Rate for 1919, 1920 (percent) |
Surtax Rate (percent) |
Combined Rate for 1918 (percent) |
Combined Rate for 1919, 1920 (percent) |
| 0 | 6 | 4 | 0 | 6 | 4 |
| 4,000 | 12 | 8 | 0 | 12 | 8 |
| 5,000 | 12 | 8 | 1 | 13 | 9 |
| 6,000 | 12 | 8 | 2 | 14 | 10 |
| 8,000 | 12 | 8 | 3 | 15 | 11 |
| 10,000 | 12 | 8 | 4 | 16 | 12 |
| 12,000 | 12 | 8 | 5 | 17 | 13 |
| 14,000 | 12 | 8 | 6 | 18 | 14 |
| 16,000 | 12 | 8 | 7 | 19 | 15 |
| 18,000 | 12 | 8 | 8 | 20 | 16 |
| 20,000 | 12 | 8 | 9 | 21 | 17 |
| 22,000 | 12 | 8 | 10 | 22 | 18 |
| 24,000 | 12 | 8 | 11 | 23 | 19 |
| 26,000 | 12 | 8 | 12 | 24 | 20 |
| 28,000 | 12 | 8 | 13 | 25 | 21 |
| 30,000 | 12 | 8 | 14 | 26 | 22 |
| 32,000 | 12 | 8 | 15 | 27 | 23 |
| 34,000 | 12 | 8 | 16 | 28 | 24 |
| 36,000 | 12 | 8 | 17 | 29 | 25 |
| 38,000 | 12 | 8 | 18 | 30 | 26 |
| 40,000 | 12 | 8 | 19 | 31 | 27 |
| 42,000 | 12 | 8 | 20 | 32 | 28 |
| 44,000 | 12 | 8 | 21 | 33 | 29 |
| 46,000 | 12 | 8 | 22 | 34 | 30 |
| 48,000 | 12 | 8 | 23 | 35 | 31 |
| 50,000 | 12 | 8 | 24 | 36 | 32 |
| 52,000 | 12 | 8 | 25 | 37 | 33 |
| 54,000 | 12 | 8 | 26 | 38 | 34 |
| 56,000 | 12 | 8 | 27 | 39 | 35 |
| 58,000 | 12 | 8 | 28 | 40 | 36 |
| 60,000 | 12 | 8 | 29 | 41 | 37 |
| 62,000 | 12 | 8 | 30 | 42 | 38 |
| 64,000 | 12 | 8 | 31 | 43 | 39 |
| 66,000 | 12 | 8 | 32 | 44 | 40 |
| 68,000 | 12 | 8 | 33 | 45 | 41 |
| 70,000 | 12 | 8 | 34 | 46 | 42 |
| 72,000 | 12 | 8 | 35 | 47 | 43 |
| 74,000 | 12 | 8 | 36 | 48 | 44 |
| 76,000 | 12 | 8 | 37 | 49 | 45 |
| 78,000 | 12 | 8 | 38 | 50 | 46 |
| 80,000 | 12 | 8 | 39 | 51 | 47 |
| 82,000 | 12 | 8 | 40 | 52 | 48 |
| 84,000 | 12 | 8 | 41 | 53 | 49 |
| 86,000 | 12 | 8 | 42 | 54 | 50 |
| 88,000 | 12 | 8 | 43 | 55 | 51 |
| 90,000 | 12 | 8 | 44 | 56 | 52 |
| 92,000 | 12 | 8 | 45 | 57 | 53 |
| 94,000 | 12 | 8 | 46 | 58 | 54 |
| 96,000 | 12 | 8 | 47 | 59 | 55 |
| 98,000 | 12 | 8 | 48 | 60 | 56 |
| 100,000 | 12 | 8 | 52 | 64 | 60 |
| 150,000 | 12 | 8 | 56 | 68 | 64 |
| 200,000 | 12 | 8 | 60 | 72 | 68 |
| 300,000 | 12 | 8 | 63 | 75 | 71 |
| 500,000 | 12 | 8 | 64 | 76 | 72 |
| 1,000,000 | 12 | 8 | 65 | 77 | 73 |
- Exemption of $1,000 for single filers and $2,000 for married couples and head of family; $200 exemption for each dependent under 18.
Read more about this topic: Revenue Act Of 1918
Famous quotes containing the words income, tax and/or individuals:
“Work though we must, our jobs do not automatically determine our priorities concerning our marriages, our children, our social life, or even our health. It’s still life, constrained as it may be by limited disposable income or leisure time, and we’re still responsible for making it something we enjoy or endure.”
—Melinda M. Marshall (20th century)
“In other words, a democratic government is the only one in which those who vote for a tax can escape the obligation to pay it.”
—Alexis de Tocqueville (1805–1859)
“Views of women, on one side, as inwardly directed toward home and family and notions of men, on the other, as outwardly striving toward fame and fortune have resounded throughout literature and in the texts of history, biology, and psychology until they seem uncontestable. Such dichotomous views defy the complexities of individuals and stifle the potential for people to reveal different dimensions of themselves in various settings.”
—Sara Lawrence Lightfoot (20th century)