SIXTY-NINTH CONGRESS. Sass. I. Cn. :27. 1926. 2].»· (2) The term ‘? earned income deductions "‘means such deductions ..,,g•g&··;¤gg_; 4* as are allowed by section 214 for the purpom of computing net income, and are properly allocable to or chargeable earned 1D0Om8.,— ·""¤‘( ' cm` .· ·.i ` · ¤ ` (8) Thetemn °?earned net income”,means¤the excess of the amount m;,§}!¤•<’ ¤•* *¤· of the earned income over the sum of the earned income deductions. If the takpayerbinet. income isnnot more thaw;$5»,000, his mtirenet income shallibe considered to be earned netzimem and if (his net income is more than $5,000, his earned net income shall not be con- sidered to belessthan $5,000; Inno vcaseshall the earned net inoome M“’¤¤m· be.considercd,to.be=n¤u·pthan$20,000. V- ( » · ( (b) In the case of an individual the tax shall, in addition to the ,,,If,‘,‘{"'§,,‘“",,,,,,,,“}‘_§"{°_‘} credits provided Linmectiqn 222, ·be(~creditad with 25·per».eentum of ¤¤r¤•r¤¤M¤•>¤m•- the amount of.tax( which would beqgyable if his earned net income constituted his entire net income; ut in no case shall the credit ““‘“°‘*°"·'· ‘ allowed under this mbdivision exceed·25 per centum of his tax under section 210cp1¤s~2¤.pa» centum of the tax which wouldsbe payable under section 211 i his earned net income constituted. .his;entire 11Q€1D00m0.. ¤ ii` ·*. ··,··>=s ·',· ¤·,· ~ (c),In the case of the members ofa partnership the-pro r part ,,,¢,?,§’“"f“°“ ‘° "‘*” of each share of the net income which consists of eamedpgncome W shall be determined, under rules and rregulationsmo be prescribed by the Commisdonerwith the approval ofthei Secretary and shall be zeéparately shown in the return of the partnership and Shall be tax to thermember as provided in section 218, Paar II.--INDIVIDUALS I¤dMd¤•|•·
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Sac. 210. (a) In lieu, of the section,210 of the ,.2, "°“ °' ‘°"“" Revenue A.ct,,of .1924,;tbere be levied, cg lected, paid for V¤1.¤.p.2¤e. each taxable year ii n the net income of eve individuigl (except as provided in,su,bdif;ision of this a nor, _ » tax. of 5 per qentum-Pf amount Q ( r e net,1¤¤Ql¤¤;l@ mrcesegythe credits _ provided in section 2 6, except that in the case of a citiaen or resident ,,§$¥’,_*§’,'gm§{ °‘°*‘ of the United States the rate upon the first. $4,000 of..such excess amount shall be 1% Sger centum, and upon tbe_next,$4,000,of such °"Z°T ¥‘i§“`° °1i‘e 3 "°' °°0'3Eh?“ii are ( 3 ti. `s1a11 ~,,··»·, ,,,,, ~·¤ ¤· ·· · b 'euo _ etaxdim (yi fvision, a, BIB;} M · ¤ _° be levied collected, and paid? fpr.each.t¤¢x¤b1¤ year upon the not mm income oi every nonresident alien individual, a a con- tiguousccuntrry, anqrmal taxequal to the tract the owing: r (1) 1% per comm of the amount by w.`¢1¤th¤ part ¤f~ tha Mi °“..°&""*:f::$ ‘?; income attributable to wages, salaries, professional fees,,or other Fgowd Sum. amounts received as compensation for personal,services»act¤1ally performed in the United States, excegds; the cxgeditstprovided in subdivisions (d) and (e) of section 2 6; but the amount taxable M°‘*’”“”‘· at Such 1% P9? centum ¥`*‘~t·°;8h*·u not exceed $4900; ` Aammm uemes (2) 3 per centum of the amount by which,such part of the net ln: amuy mem and income exceeds the sum of (A) the credits provided in subdivisions “’°°°‘ (d) and (e) of section 216, glue (B) $4,000; but theamount taxable at such 3 per centum rate s all not exceed $4.,000;, and (3) 5 per centum of the amount of the net income in czcess of m¤·¤¤·¤ mmf- the sum of (A) the amount taxed under aragraphs (1) and (2), plus (B) the credits provided in section 516. smrrsx S“’°¤- Sac. 211. (a) In lieu of the tax imposed by section 211 of the ,A;‘·$j§‘§‘,fj}jj,;a9g§;;:’g{ Revenue Act of 1924, but in addition to the normal tax imposed mxiinnoo. "
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