Revenue Act of 1926

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President Coolidge signs the act in a small ceremony.

The United States Revenue Act of 1926, 44 Stat. 9, reduced inheritance and personal income taxes, cancelled many excise imposts, eliminated the gift tax and ended public access to federal income tax returns.

Passed by the 69th Congress, it was signed into law by President Calvin Coolidge.

The act was applicable to incomes for 1925 and thereafter.[1]

Tax on Corporations[edit]

A rate of 13.5 percent was levied on the net income of corporations.

Tax on Individuals[edit]

A Normal Tax and a Surtax were levied against the net income of individuals as shown in the following table.

Revenue Act of 1926
Normal Tax and Surtax on Individuals

44 Stat. 21 [2]

Net Income
(dollars)
Normal Rate
(percent)
Surtax Rate
(percent)
Combined Rate
(percent)
01.501.4
4,000303
8,000505
10,000516
14,000527
16,000538
18,000549
20,0005510
22,0005611
24,0005712
28,0005813
32,0005914
36,00051015
40,00051116
44,00051217
48,00051318
52,00051419
56,00051520
60,00051621
64,00051722
70,00051823
80,00051924
100,00052025

References[edit]

  1. ^ Surtax rates under the Revenue Acts 1913 to 1926
  2. ^ Facsimile from Statutes at Large