“Second Revenue Act of 1940”的意思、由来-开放百科全书

词条

Second Revenue Act of 1940

释义

Tax on corporations
Normal tax Excess Profits Tax
References

The United States Second Revenue Act of 1940 created a corporate excess profits tax (top rate 50%) and increased corporate tax rates (top rate from 33% to 35%).

Tax on corporations

Normal tax

A Normal Tax was levied on the net income of corporations as shown in the following table.

Second Revenue Act of 1940 Normal Tax on Corporations {{USStat\|53\|974}} ^[1]
Net Income (dollars)	Rate (percent)
0	22.1
25,000	35

Excess Profits Tax

A Excess Profits Tax was levied on the excess profits net income (i.e., net income less allowances and exemptions) of corporations as shown in the following table.

Second Revenue Act of 1940 Excess Profits Tax on Corporations {{USStat\|53\|975}} ^[2]
Adjusted Excess Profits Net Income (dollars)	Rate (percent)
0	25
25,000	33
50,000	35
100,000	40
250,000	45
500,000	50

An exemption of $5,000 is allowed, and also an "excess profits credit" and "unused excess profits credit."

References

1. ^[https://www.scribd.com/doc/24622981/PL-76-801-Second-Revenue-Act-of-1940 Facsimile]
2. ^[https://www.scribd.com/doc/24622981/PL-76-801-Second-Revenue-Act-of-1940 Facsimile]

4 : United States federal taxation legislation|1940 in American law|76th United States Congress|United States federal legislation articles without infoboxes

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