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72d CONGRESS . SESS. I . CH. 209. JUNE 6, 1932 . OUT T"IMS
to a benef iciary other than the do nor sha ll be consid ered t o be a transfer by the donor of such income by gift . Computation .
SEC. 502. COMPUTATION OF TAX . The tax for each calendar year shall be an amount equal to the excess of- Amou nts . (1) a tax, computed in accordance with the Rate Schedule hereinafter set forth, on the ag gregate sum of the net gifts for such calendar year and for each of the preceding calendar years, over (2) a tax , com puted in accor dance wit h the Rate Sch edule , on the aggregate sum of the net gifts for each of the preceding calendar years . Rate schedule.
Gar TAX RATE SCHEDULE Upon net gi fts no t in e xcess of $10 ,000, t hree-f ourths of 1 per centum . $75 upon net gifts of $10,000 ; and upon net gifts in excess of $10,000 and not in excess of $20,000, 11/2 per centum in addition of such excess . '$225 upon net gifts of $20,000 ; and upon net gifts in excess of $20,000 and not in excess of $30,000, 21/4 per centum in addition of such excess . $450 upon net gifts of $30,000 ; and upon net gifts in excess of $30,000 and not in excess of $40,000, 3 per centum in addition of suc h excess . $750 upon net gifts of $40,000 ; and upon net gifts in excess of $40,000 and not in excess of $50,000, 33/4 per centum in addition of such excess . $1,125 upon net gifts of $50,000 ; and upon net gifts in excess of $50,000 and not i n excess of $100,0 00, 5 pe r centum in additi on of such excess . $3,625 upon net gifts of $100,000 ; and upon net gifts in excess of $100,000 and not in excess of $200,000, 61 per centum in addition of such excess . $10,125 upon net gifts of $200,000 ; and upon net gifts in excess of $200,000 and not in excess of $400,000, 8 per centum in addition of such excess . $26,125 upon net gifts of $400,000 ; and upon net gifts in excess of $400,000 and not in excess of $600,000, 91/2 per centum in addition of such excess . $45,125 upon net gifts of $600,000 ; and upon net gifts in excess of $600,000 and not in excess of $800,000, 11 per centum in addition of such excess . $67,1 25 upon n et gifts of $800,000 ; and up on net gi fts in ex cess of $800,000 and not in excess of $1,000 .000, 121/2 per centum in addition of such excess . $92,125 upon net gifts of $1,000,000 ; and upon net gifts in excess of $1 ,000,000 and not i n excess of $1,500 ,000, 14 per cent um in add ition of such exc ess . $162,125 upon net gifts of $1,500,000 ; and upon net gifts in excess of $1,500,000 and not in excess of $2,000,000, 151/ 2 per centum in addition of such excess . $239,625 upon net gifts of $2,000,000 ; and upon net gifts in excess of $2,000,000 and not in excess of $2,500,000, 1 per centum in addi- tion of such excess . $324,625 upon net gifts of $2,500,000 ; and upon net gifts in excess of $2,500y000 and not in excess of $3,000,000, 18 1/2 per centum in addition of such excess .
