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Law and Regulations Relative to the Tax on Income of Individuals, Corporations, Joint Stock Companies, Associations, and Insurance Companies - Softcover

Imposed By Section 2, Act Of October 3, 1913; January 5, 1914

 
9781333455323: Law and Regulations Relative to the Tax on Income of Individuals, Corporations, Joint Stock Companies, Associations, and Insurance Companies

Synopsis

This book introduces the Income Tax Law of 1913, a landmark federal income tax established during a time of significant economic change in the United States. Enacted under President Woodrow Wilson, the law levied taxes on the net income of citizens and corporations, marking a major shift in the nation's revenue collection system. The author examines the various provisions of the law, including deductions, exemptions, and tax rates, providing historical context for its development. Delving into the law's impact on businesses and individuals, the book explores its role in shaping the American tax system and its lasting legacy in the realm of public finance.

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