Chapter 2.

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CHAP. 2.— Joint Resolution Reducing rates of income tax for the calendar year 1929. December 16, 1929.[[H. J. Res. 133](/us/bill/71/hjres/133).][[Pub. Res., No. 23](/us/bill/71/pubres/23).] Resolved by the Senate and House of Representatives of the United States of America in Congress assembled, That, in lieu of such ratesRevenue Act, 1928.Income tax for 1929, reduced.Vol. 45, p. 795.[U. S. C., Supp. IV, p. 377](/us/usc/p377). of income tax specified in the Revenue Act of 1928 (United States Code, Supplement III, title 26, chapter 24) as are set forth in the following table, which under such Act are applicable to the calendar year 1929, the rates applicable to such year shall be those set forth in such table:Table of rates.Vol. 45, pp. 795, 838.[U.

S. C., Supp. IV, pp. 379, 399](/us/usc/379/399).Vol. 45, p. 797.[U. S. C., Supp. IV, 380](/us/usc/380).Vol. 45, p. 842.[U. S. C., Supp. IV, p. 401](/us/usc/401).Vol. 45, p. 844.[U. S. C., Supp. IV, p. 402](/us/usc/p402).Vol. 45, p. 847.[U. S. C., Supp. IV, p. 403](/us/usc/p403).Vol. 45, pp. 833, 835.[U. S. C., Supp. IV, p. 397](/us/usc/p397). Sections of revenue act of 1928 Description of tax New rule applicable to calendar year 1929 Rate under 1929 act Sections 11 and 161 [U.

S. C. Sup. III, title 26, §§ 2011 and 2161] Normal tax on individuals and on estates and trusts { ½ of 1% 1½% 2% 3% 4% 5% Section 13 [U. S. C. Sup. III, title 26, § 2013] Tax on corporations 11% 12% Section 201 [U. S. C. Sup. III, title 26, § 2201] Tax on life insurance companies 11% 12% Section 204 [U. S. C. Sup. III, title 26, § 2204] Tax on insurance companies other than life or mutual 11% 12% Section 211 [U. S. C. Sup. Ill, title 26, § 2211] Normal tax on nonresident aliens { ½ of 1% 1½% 2% 3% 4% 5% Sections 144 and 145 [U.

S. C. Sup. Ill, title 26, §§ 2144 and 2145] Withholding at source { ½ of 1% 1½% 4% 5% 11% 12% Sec. 2. This joint resolution shall take effect as of January 1, 1929.Effective January 1, 1929. Approved, December 16, 1929. 47