OCR Text |
Show INCOME TAXATION WHAT IS YOURS? The following table, compiled by the National City Company, shows the income tax upon specified net taxable incomes of individuals under the provisions of the income tax law of September 8, 1916, the new war tax law, and the total tax payable. The table is based upon an exemption exemp-tion allowance of $2,000 under the new and $4,000 under the old law: Under law of Sept. S, '16 War tax law Total tax income amount amount amount $ 2,000 $0 $0 $0 3,000 0 20 20. 4,000 0 40 40 5,000 20 60 SO 10,000 120 235 355 15,000 220 510 730 . 20,000 320 860 1,180 25,000 470 1,310 1,780 30,000 620 1,760 2,380 35,000 770 2,210 2.9S0 40,000 920 2,660 3,580 45,000 1,120 ' 3,260 4,380 50,000 1,320 3,860 5,180 |