PUBLIC LAWS-CLH 289-MAY 28, 1938 Surtax on individ- uals-Continued. Rates-Continued. Capital gains or losses. Pot,p. 501. Sale of oil or gas properties. Post, p. 484 . Personal holding companies. Post, p. 667 . Avoidance by in- corporation. Pot, p. 483. $14,000 upon surtax net incomes of $68,000; and upon surtax net incomes in excess of $68,000 and not in excess of $74,000, 43 per centum in addition of such excess. $16,580 upon surtax net incomes of $74,000; and upon surtax net incomes in excess of $74,000 and not in excess of $80,000, 47 per centum in addition of such excess. $19,400 upon surtax net incomes of $80,000; and upon surtax net incomes in excess of $80,000 and not in excess of $90,000, 51 per centum in addition of such excess. $24,500 upon surtax net incomes of $90,000; and upon surtax net incomes in excess of $90,000 and not in excess of $100,000, 55 per centum in addition of such excess. $30,000 upon surtax net incomes of $100,000; and upon surtax net incomes in excess of $100,000 and not in excess of $150,000, 58 per centum in addition of such excess. $59,000 upon surtax net incomes of $150,000; and upon surtax net incomes in excess of $150,000 and not in excess of $200,000, 60 per centum in addition of such excess. $89,000 upon surtax net incomes of $200,000; and upon surtax net incomes in excess of $200,000 and not in excess of $250,000, 62 per centum in addition of such excess. $120,000 upon surtax net incomes of $250,000; and upon surtax net incomes in excess of $250,000 and not in excess of $300,000, 64 per centum in addition of such excess. $152,000 upon surtax net incomes of $300,000; and upon sur- tax net incomes in excess of $300,000 and not in excess of $400,000, 66 per centum in addition of such excess. $218,000 upon surtax net incomes of $400,000; and upon sur- tax net incomes in excess of $400,000 and not in excess of $500,000, 68 per centum in addition of such excess. $286,000 upon surtax net incomes of $500,000; and upon sur- tax net incomes in excess of $500,000 and not in excess of $750,000, 70 per centum in addition of such excess. $461,000 upon surtax net incomes of $750,000; and upon sur- tax net incomes in excess of $750,000 and not in excess of $1,000,000, 72 per centum in addition of such excess. $641,000 upon surtax net incomes of $1,000,000; and upon sur- tax net incomes in excess of $1,000,000 and not in excess of $2,000,000, 73 per centum in addition of such excess. $1,371,000 upon surtax net incomes of $2,000,000; and upon surtax net incomes in excess of $2,000,000 and not in excess of $5,000,000, 74 per centum in addition of such excess. $3,591,000 upon surtax net incomes of $5,000,000; and upon surtax net incomes in excess of $5,000,000, 75 per centum in addition of such excess. (c) TAX IN CASE OF CAPITAL GAINS OR LossEs.- For rate and computation of alternative tax in lieu of normal tax and surtax in the case of a capital gain or loss from the sale or exchange of capital assets held for more than eighteen months, see section 117 (c). (d) SALE OF OIL OR GAS PROPERTIES.-For limitation of surtax attributable to the sale of oil or gas properties, see section 105. (e) TAX ON PERSONAL HOLDING COMPANIES.- For surtax on per- sonal holding companies, see Title IA. (f) AVOIDANCE OF SUBTAXES By INCoORAPTION.-For surtax on corporations which accumulate surplus to avoid surtax on share- holders, see section 102. 454 [52 STAT.
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