Revenue Act of 1926


Revenue Act of 1926

The United States Revenue Act of 1926, USStat|44|9, reduced inheritance and personal income taxes, cancelled many excise imposts, and ended public access to federal income tax returns.

Passed by the 69th Congress, it was signed into law by President Calvin Coolidge.

The act was applicable to incomes for 1925 and thereafter. [ [http://fraser.stlouisfed.org/publications/income/page/15474/download/34058/15474_1915-1930.pdf Surtax rates under the Revenue Acts 1913 to 1926] ]

Tax on Corporations

A rate of 13.5 percent was levied on the net income of corporations.

Tax on Individuals

A Normal Tax and a Surtax were levied against the net income of individuals as shown in the following table.

References


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