Amendment to the Income Tax Rate

Title

Amendment to the Income Tax Rate

Creator

Simmons, Furnifold M. (Furnifold McLendel), 1854-1940

Identifier

WWP18002

Date

1913 September 5

Description

Furnifold M. Simmons enclosed this caucus amendment to the Federal Income Tax bill in a note sent to Woodrow Wilson

Source

Wilson Papers, Library of Congress, Library of Congress, Washington, District of Columbia

Subject

Wilson, Woodrow, 1856-1924--Correspondence

Relation

WWP18001

Text

CAUCUS AMENDMENT.
Subdivision 2. In addition to the income tax provided under this section (herein raeferred to as the normal income tax) there shall be levied, assessed, and collected upon the net income of every individual an additional income tax (herein referred to as the additional tax) of 1 per centum per annum upon the amount by which the total net income exceeds $20,000 and does not exceed $50,000, and 2 per centum per annum upon the amount by which the total net income exceeds $50,000 and does not exceed $75,000, and 3 per cent per annum upon the amount by which the total net income exceeds $575,000 and does not exceed $100,000; and four per centum per annum upon the amount by which the total net income exceeds $100,000 and does not exceed $250,000; and 45 per centum per annum upon the amount by which the total net income exceeds $250,000 and does not exceed $500,000; and 6 per centum per annum upon the amount by which the next income exceeds $500,000.

Original Format

Miscellaneous

Files

http://resources.presidentwilson.org/wp-content/uploads/2018/06/Temp00500B.pdf

Citation

Simmons, Furnifold M. (Furnifold McLendel), 1854-1940, “Amendment to the Income Tax Rate,” 1913 September 5, WWP18002, First Year Wilson Papers, Woodrow Wilson Presidential Library & Museum, Staunton, Virginia.