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Page:United States Statutes at Large Volume 61 Part 1.djvu/368

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PUBLIC LAWS-CH. 258-JULY 16, 1947 [61 STAT. credits provided as the number of months in the period for which the return is made bear to twelve months. SEC. 3 . IMPOSITION AND RATES OF TAX. - There is hereby annually levied and imposed for each taxable year upon the taxable income of every resident a tax at the following rates: One per centum on the first $5,000 of taxable income. One and one-half per centum on the next $5,000 of taxable income. Two per centum on the next $5,000 of taxable income. Two and one-half per centum on the next $5,000 of taxable income. Three per centum on the taxable income in excess of $20,000. SEC. 4 . (a) OPTIONAL METHOD OF COMPUTATION.-In lieu of the method of computation prescribed by section 3 of this title, a resident reporting on a cash basis for any full calendar year who does not claim credit for taxes paid by him to any State or Territory of the United States or political subdivision thereof under the provisions of section 5 of this title on the whole or any part of his income for such calendar year and, if his gross income for such calendar year is $5,000 or less, and is derived solely from salaries, wages, dividends, and interest, may elect to pay the tax as shown in the following table: Gross income less allow- ance for dependents Over 0 $1,150 1,200 1,250 1,300 1,350 1,400 1,450 1,500 1,550 1,650 1,700 1,750 1,800 1, 850 1, 00 1,950 2,000 2,050 2,100 2,150 2,200 2, 250 2,300 2, 350 2,400 2,450 2,500 2.550 2.600 2, 600 2, 50 2,700 2.750 2,800 2, 850 2,900 2,950 3,000 But not over $1,150 1,200 1, 250 1,300 1,350 1,400 1, 450 1,500 1, 550 1,600 1,650 1,700 1,750 1,800 1,860 1,900 1,950 2,000 2,060 2,100 2,150 2,200 2,250 2,300 2,350 2,400 2,450 2, 500 2, 550 2 600 2, 700 2,750 2,800 2,850 2,900 2,950 3,000 3,050 Personal exemption status $1,000 Tax 0 $0.50 1.00 1.50 2.00 2.50 3.00 3.50 3.50 4.00 4.50 5.00 5.50 6.00 6.560 7.00 7.50 8.00 8.00 8.50 9.00 9.50 10.00 10. 60 11.00 11.60 12.00 12. 50 12.50 13.00 13.50 14.00 14.50 15.00 15. 50 16.00 16.50 17.00 17.00 $2,000 Tax 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 80.50 1.00 1.60 2.00 2.5 3.00 3.50 4.00 4.60 5.00 6.50 6.00 6.50 7.00 7.00 Gross income less allow- ance for dependents Over $3,050 3,100 3,160 3,200 3,250 3,300 3, 350 3,400 3,450 3,500 3, 50 3,600 3,650 3,700 3,750 3,800 3,860 3,900 3, 960 4,000 4,050 4,100 4,150 4,200 4,250 4,300 4,350 4,400 4,450 4,500 4,550 4,600 4, 650 4,700 4,760 4,800 4,850 4,900 4,950 But not over $3,100 3,150 3,200 3,250 3,300 3,350 3,400 3,450 3,500 3,550 3,600 3,660 3,700 3,750 3,800 3,850 3,900 3,950 4,000 4,050 4, 100 4,150 4,200 4,250 4,300 4,350 4,400 4,450 4,500 4,550 4,600 4,650 4,700 4,750 4,800 4,850 4,900 4,950 5,000 Personal exemption status $1,000 Tax $17. 50 18.00 18.50 19.00 19.50 20.00 20.50 21.00 21.50 21.50 22.00 22.50 23.00 23.50 24.00 24.50 25.00 25.50 26.00 26.00 26. 60 27.00 27. 60 28.00 28.50 29.00 29.50 30.00 30.50 30.50 31.00 31. 50 32. 00 32.50 33.00 33.50 34.00 34.50 35.00 $2,000 Taz $7.50 8.00 8.50 9.00 9.50 10.00 10. 50 11.00 11.50 11.50 12.00 12. 50 13.00 13. 50 14.00 14. 50 15.00 15.50 1&00 1800 16. 0 17.00 17. 0 1800 la& so 19.00 19. 50 20.50 20.50 21.00 21.50 22. 00 22.50 23.00 23.50 24.00 24. 5 25.00 Application of schedule. (b) In applying the above schedule, to determine the tax of a tax- payer with one or more dependents, there shall be subtracted from his gross income beginning with the first taxable year to which this article is applicable and succeeding taxable years, $500 for each dependent as defined in this article. (c) In applying the above schedule, to determine whether the tax- payer is entitled to the personal exemption of $1,000 or $2,000, his status during the greater portion of the taxable year, as defined in this article, shall control. 344 ..