Reduction of Individual Income Taxes

“Tax other than in case of joint return of husband and wife under section 51

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2,050 180 84
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2, 100 189 90
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2, 150 198 96
2, 175 202 99
2, 200 207 102
2, 225 211 105
2, 250 215 108
2, 275 218 111
2, 300 222 114
2, 325

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150 2, 550 2, 575 259 154 2, 575 2, 600 263 159 2, 600 2, 625 266 163 2, 625 2, 650 270 168 2, 650

2, 675 273 172 2, 675 2, 700 276 177 2, 700 2, 725 280 181 2, 725 2, 750 283 186 2, 750 2, 775 287 190 2, 775

2, 800 290 195 2, 800 2, 825

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3, 100 332 238 3, 100 3, 150 340 245 3, 150 3, 200 347 252 3, 200 3, 250 355 259 3, 250 3, 300 362 266 3, 300 3, 350 370 272 3, 350 3, 400 377 279 3, 400

3, 450 385 286 3, 450 3,500 392 293 3, 500 3,550 400

300 3, 550 3, 600 407 307 3, 600 3, 650 415 314 3, 650 3,700 422 322 3,700 3,750 130 329 3, 750

3, 800 437 337 3, 800 3,850 445 345 3,850 3, 900 452 352 3, 900

3,950 460 360 3,950 4,000 467 367 4,000 4, 050 475 375 4,050 4,100 482 382 4, 100 4, 150

490 390 4, 150 4, 200 498 397 4, 200 4, 250 505 405 4, 250 4, 300 513 412 4, 300

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450 4, 550 4, 600 558

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“Tax in case of joint return of husband and wife under section 51

165

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3, 500 3, 550 262 183
3, 550 3, 600 270 189
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3, 700 3, 750 297 206
3, 750 3, 800 306 212
3, 800 3,850 315 218
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3, 900 3, 950 333 230
3, 950 4, 000 342 236
4,000 4, 050 351 242
4,050 4, 100 360 248
4, 100 4, 150 369 254
4, 150 4, 200 378 260
4, 200 4, 250 387 267
4, 250 4, 300 396 276
4, 300 4, 350 405 285
4, 350 4, 400 414 294
4, 400 4, 450 423 303
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(b) TAXABLE YEARS TO WHICH APPLICABIE.—The amendment made by this section shall be applicable with respect to taxable years beginning after December 31, 1947. For treatment of taxable years beginning in 1947 and ending in 1948, see section 601.

TITLE V-REDUCTION IN WITHHOLDING OF TAX AT

SOURCE ON WAGES

SEC. 501. PERCENTAGE METHOD.

Section 1622 (a) and section 1622 (b) (1) of the Internal Revenue Code (relating to percentage method of withholding) are hereby amended to read as follows:

“(a) REQUIREMENT OF WITHHOLDING.—Every employer making payments of wages shall deduct and withhold upon such wages a tax equal to the sum of the following:

“(1) 12 per centum of whichever of the following is the lesser :

“(A) the amount by which the wages: exceed the number of withholding exemptions claimed, multiplied by the amount of one such exemption as shown in the table in subsection (b) (1); or

“(B) the amount shown in the second column in the table in subsection (b) (1); “(2) 18 per centum of whichever of the following is the lesser: “(A) the amount by which the wages exceed the sum of

“(i) the number of withholding exemptions claimed, multiplied by the amount of one such exemption as shown in the table in subsection (b) (1); plus

“(ii) the amount shown in the second column in the table in subsection (b) (1); or “(B) the amount shown in the third column in the table in subsection (b) (1); “(3) 14 per centum of the amount by which the wages exceed the sum of

“(A) the number of withholding exemptions claimed, multiplied by the amount of one such exemption as shown in the table in subsection (b) (1); plus

“(B) the sum of the amounts shown in the second and third columns

in the table in subsection (b) (1). “(b) (1) The table referred to in subsection (a) is as follows:

SEC. 502. WAGE BRACKET WITHHOLDING.

The tables contained in section 1622 (c) (1) of the Internal Revenue Code (relating to wage bracket withholding) are hereby amended to read as follows:

“If the pay-roll period with respect to an employee is weekly-

“If the pay-roll period with respect to an employee is weekly

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14 percent of the excess over $200 plus

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