Amendment to the Income Tax Rate
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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.