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War Revenue Act Of 1917
The United States War Revenue Act of 1917 greatly increased federal income tax An income tax is a tax imposed on individuals or entities (taxpayers) in respect of the income or profits earned by them (commonly called taxable income). Income tax generally is computed as the product of a tax rate times the taxable income. Tax ... rates while simultaneously lowering exemptions. The 2% bracket had previously applied to income below $20,000. That amount was lowered to $2,000. The top bracket (on income above $2 million) was raised from 15% to 67%. The act was applicable to incomes for 1917. War Income Tax for Individuals In addition to the Normal Tax and an Additional Tax levied against the net income of individuals in the Revenue Act of 1916 a "like normal" tax and a "like additional" tax were levied against the net income of individuals as shown in the following table. *Exemption of $3,000 for a single filer, $4,000 for a married couple, and $4,000 for a head of household. I ...
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United States
The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territories, nine Minor Outlying Islands, and 326 Indian reservations. The United States is also in free association with three Pacific Island sovereign states: the Federated States of Micronesia, the Marshall Islands, and the Republic of Palau. It is the world's third-largest country by both land and total area. It shares land borders with Canada to its north and with Mexico to its south and has maritime borders with the Bahamas, Cuba, Russia, and other nations. With a population of over 333 million, it is the most populous country in the Americas and the third most populous in the world. The national capital of the United States is Washington, D.C. and its most populous city and principal financial center is New York City. Paleo-Americ ...
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Income Tax
An income tax is a tax imposed on individuals or entities (taxpayers) in respect of the income or profits earned by them (commonly called taxable income). Income tax generally is computed as the product of a tax rate times the taxable income. Taxation rates may vary by type or characteristics of the taxpayer and the type of income. The tax rate may increase as taxable income increases (referred to as graduated or progressive tax rates). The tax imposed on companies is usually known as corporate tax and is commonly levied at a flat rate. Individual income is often taxed at progressive rates where the tax rate applied to each additional unit of income increases (e.g., the first $10,000 of income taxed at 0%, the next $10,000 taxed at 1%, etc.). Most jurisdictions exempt local charitable organizations from tax. Income from investments may be taxed at different (generally lower) rates than other types of income. Credits of various sorts may be allowed that reduce tax. Some jurisdicti ...
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Revenue Act Of 1916
The United States Revenue Act of 1916, (ch. 463, , September 8, 1916) raised the lowest income tax rate from 1% to 2% and raised the top rate to 15% on taxpayers with incomes above $2 million ($ in dollars). Previously, the top rate had been 7% on income above $500,000 ($ in dollars). The Act also instituted the federal estate tax.Revenue Act of 1916, section 201, Ch. 463, 39 Stat. 756, 777 (Sept. 8, 1916). The entry of the United States into World War I greatly increased the need for revenue. An excess profits tax was introduced and the modern estate tax An inheritance tax is a tax paid by a person who inherits money or property of a person who has died, whereas an estate tax is a levy on the estate (money and property) of a person who has died. International tax law distinguishes between an es ... was imposed. The act was applicable to incomes for 1916. Income Tax Table for Individuals A Normal Tax and an Additional Tax were levied against the net income of individuals ...
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Statutes At Large
''Statutes at Large'' is the name given to published collections or series of legislative Acts in a number of jurisdictions. The expression "statutes at large" was first used in the edition of Barker published in 1587. England and Great Britain * ''The Statutes at Large'': ** Edition by Owen Ruffhead, from "Magna Charta" down to the Acts of 4 Geo. 3: 9 volumes, London."Printed for Mark Basket, Printer to the King's Most Excellent Majesty, and by the Assigns of Robert Basket; And by Henry Woodfall and William Strahan, Law Printers to the King's Most Excellent Majesty", 1763–1765. ** Continuation of Ruffhead's edition, down to the Acts of 25 Geo. 3: 5 volumes, London.(Vols. 10–13) "Printed for Charles Eyre and William Strahan, Printers to the King's Most Excellent Majesty; And by W. Strahan and M. Woodfall, Law Printers to the King's Most Excellent Majesty", 1771–1780.(Vol. 14) "Printed by Charles Eyre and the Executors of William Strahan, Printers to the Kin ...
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Form 1099
Form 1099 is one of several IRS tax forms (see the variants section) used in the United States to prepare and file an ''information return'' to report various types of income other than wages, salaries, and tips (for which Form W-2 is used instead). The term ''information return'' is used in contrast to the term ''tax return'' although the latter term is sometimes used colloquially to describe both kinds of returns. The form is used to report payments to independent contractors, rental property income, income from interest and dividends, sales proceeds, and other miscellaneous income. Blank 1099 forms and the related instructions can be downloaded from the IRS website. Significance for payee's tax return Payees use the information provided on the 1099 forms to help them complete their own tax returns. In order to save paper, payers can give payees one single Combined Form 1099 that lists all of their 1099 transactions for the entire year. Taxpayers are usually not required to a ...
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65th United States Congress
The 65th United States Congress was a meeting of the legislative branch of the United States federal government, composed of the United States Senate and the United States House of Representatives. It met in Washington, DC from March 4, 1917, to March 4, 1919, during the fifth and sixth years of Woodrow Wilson's presidency. The apportionment of seats in this House of Representatives was based on the Thirteenth Census of the United States in 1910. The Senate maintained a Democratic majority. In the House, the Republicans had actually won a plurality, but as the Progressives and Socialist Representative Meyer London caucused with the Democrats, this gave them the operational majority of the nearly evenly divided chamber, thus giving the Democrats full control of Congress, and along with President Wilson maintaining an overall federal government trifecta. Major events * March 4, 1917: Jeannette Rankin of Montana became the first woman member of the United States House of Rep ...
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United States Federal Taxation Legislation
United may refer to: Places * United, Pennsylvania, an unincorporated community * United, West Virginia, an unincorporated community Arts and entertainment Films * ''United'' (2003 film), a Norwegian film * ''United'' (2011 film), a BBC Two film Literature * ''United!'' (novel), a 1973 children's novel by Michael Hardcastle Music * United (band), Japanese thrash metal band formed in 1981 Albums * ''United'' (Commodores album), 1986 * ''United'' (Dream Evil album), 2006 * ''United'' (Marvin Gaye and Tammi Terrell album), 1967 * ''United'' (Marian Gold album), 1996 * ''United'' (Phoenix album), 2000 * ''United'' (Woody Shaw album), 1981 Songs * "United" (Judas Priest song), 1980 * "United" (Prince Ital Joe and Marky Mark song), 1994 * "United" (Robbie Williams song), 2000 * "United", a song by Danish duo Nik & Jay featuring Lisa Rowe Television * ''United'' (TV series), a 1990 BBC Two documentary series * ''United!'', a soap opera that aired on BBC One from 1965-19 ...
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1917 In Law
Events Below, the events of World War I have the "WWI" prefix. January * January 9 – WWI – Battle of Rafa: The last substantial Ottoman Army garrison on the Sinai Peninsula is captured by the Egyptian Expeditionary Force's Desert Column. * January 10 – Imperial Trans-Antarctic Expedition: Seven survivors of the Ross Sea party were rescued after being stranded for several months. * January 11 – Unknown saboteurs set off the Kingsland Explosion at Kingsland (modern-day Lyndhurst, New Jersey), one of the events leading to United States involvement in WWI. * January 16 – The Danish West Indies is sold to the United States for $25 million. * January 22 – WWI: United States President Woodrow Wilson calls for "peace without victory" in Germany. * January 25 ** WWI: British armed merchantman is sunk by mines off Lough Swilly (Ireland), with the loss of 354 of the 475 aboard. ** An anti-prostitution drive in San Francisco occurs, and police ...
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1917 In The United States
Events from the year 1917 in the United States Incumbents Federal Government * President: Woodrow Wilson ( D-New Jersey) * Vice President: Thomas R. Marshall ( D-Indiana) * Chief Justice: Edward Douglass White (Louisiana) * Speaker of the House of Representatives: Champ Clark ( D-Missouri) * Congress: 64th (until March 4), 65th (starting March 4) Events January–March * January 1 – The University of Oregon defeats the University of Pennsylvania 14–0 in college football's 3rd Annual Rose Bowl. * January 10 – The Silent Sentinels begin their protest in favor of women's suffrage in front of the White House. * January 11 – German saboteurs set off the Kingsland Explosion at Kingsland, New Jersey (modern-day Lyndhurst), one of the events leading to U.S. involvement in World War I. * January 22 – World War I: President Woodrow Wilson calls for "peace without victory" in Europe. * January 25 **The Danish West Indies is sold to the United States f ...
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