- Revenue Act of 1924
The United States Revenue Act of 1924 (USStat|43|253) (June 2, 1924), also known as the Mellon tax bill cut federal
taxrates and established the U.S. Board of Tax Appeals, which was later renamed the United States Tax Courtin 1942. The bill was named after Secretary of the Treasury Andrew Mellon.
The Revenue Act was applicable to incomes for 1924. [ [http://fraser.stlouisfed.org/publications/income/page/15474/download/34058/15474_1915-1930.pdf Surtax rates under the Revenue Acts 1913 to 1926] ]
The bottom rate, on income under $4,000, fell from 1.5% to 1.125% (both rates are after reduction by the "
earned income credit").
A parallel act, the
Indian Citizenship Act of 1924(43 U.S. Stats. At Large, Ch. 233, p. 253 (1924)), granted all non-citizen resident Indians citizenship. [http://www.usconstitution.com/IndianCitizenshipAct.htm] Thus the Revenue Act declared that there were no longer any "Indians, not taxed" to be not counted for purposes of United States Congressional apportionment.
Calvin Coolidgesigned the bill into law.
Tax on Individuals
A Normal Tax and a Surtax were levied against the net income of individuals as shown in the following table.
* [http://www.house.gov/Constitution/Constitution.html Text of the Constitution of the United States]
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