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:
“I have no doubt that it was a principle they fought for, as much as our ancestors, and not to avoid a three-penny tax on their tea; and the results of this battle will be as important and memorable to those whom it concerns as those of the battle of Bunker Hill, at least.”
—Henry David Thoreau (1817–1862)
“Change of fashion is the tax levied by the industry of the poor on the vanity of the rich.”
—Sébastien-Roch Nicolas De Chamfort (1741–1794)
“How is freedom measured, in individuals as in nations? By the resistance which has to be overcome, by the effort it costs to stay aloft. One would have to seek the highest type of free man where the greatest resistance is constantly being overcome: five steps from tyranny, near the threshold of the danger of servitude.”
—Friedrich Nietzsche (1844–1900)