Sec. 402. Rate adjustment

182 words·~1 min read·/bill/115/hr/7262/ih/section-402

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The table contained in section 2001(c) is amended by striking the last row and inserting the following: Over $1,000,000 $345,800, plus 55 percent of the excess of such amount over $1,000,000. Over $13,000,000 $6,945,800, plus 60 percent of the excess of such amount over $13,000,000. Over $93,000,000 $54,945,800, plus 65 percent of the excess of such amount over $93,000,000. Paragraph

(3)of section 2010(c) is amended to read as follows: For purposes of this subsection, the basic exclusion amount is $3,500,000. . Section 2001 is amended— in subsection (b), by striking The tax and inserting Subject to subsection (h), the tax ; and by adding at the end the following new subsection: In the case of a taxable estate for which the applicable amount is in excess of $1,000,000,000, the tax determined under subsection

(b)shall be increased by an amount equal to 10 percent of such applicable amount. For purposes of this subsection, the applicable amount shall be equal to the sum of the amounts under subparagraphs

(A)and

(B)of paragraph

(1)of subsection

(b)for the taxable estate. .