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Revenue Act of 1921

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income of following years, and provides for the final settlement of tax cases besides making some other changes in the previous statute." The top marginal rate on individuals fell from 73 to 58 percent by 1922, and preferential treatment for capital gains was introduced at a rate of 12.5 percent. Mellon had hoped for more significant tax reduction.
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The bill passed the House on August 20, 1921. It was passed by the Senate in amended form on November 7, 1921. It was sent to conference on November 10 before the House on November 21 and the Senate on November 23 voted in favor of a new version of the bill. President Harding signed the bill on
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imposed during World War I, as well as "the transportation taxes, some luxury and other taxes, reduces slightly the maximum surtaxes upon individual incomes and increases somewhat the personal exemptions of heads of families and dependents, permits net losses of one year to be offset against net
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argued that significant tax reduction was necessary in order to spur economic expansion and restore prosperity.
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In 1921 a rate of 10 percent was levied on the net income of corporations and 12.5 percent levied thereafter.
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A Normal Tax and a Surtax were levied against the net income of individuals as shown in the following table.
1907: 1681: 1601: 2370: 2127: 2072: 2057: 1746: 2456: 1857: 1758: 1826: 1752: 1676: 1523: 2466: 2436: 2232: 2082: 2062: 2042: 2037: 2022: 2012: 2007: 2002: 1987: 1982: 1977: 1967: 1957: 1952: 1947: 1942: 1937: 1932: 1927: 1922: 1912: 1902: 1892: 1877: 1872: 1867: 1686: 1606: 2292: 2222: 2017: 1621: 50: 2471: 1661: 1631: 1450: 1385: 1333: 1818: 1740: 2416: 1792: 1502: 2411: 2400: 2395: 2385: 2380: 2375: 2365: 2360: 2355: 2350: 2345: 2340: 1785: 2521: 2506: 2390: 43: 1496: 1491: 2426: 1764: 1299:
exemption for each dependent under 18. Married couple exemption is reduced to
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tax reduction following their landslide victory in the
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List of federal judges appointed by Warren G. Harding
2331: 1856: 1733: 1695: 1539: 1484: 1834: 1435: 8: 1378:The Southwestern Political Science Quarterly 1295:for married couples and heads of family. A 2528:United States federal taxation legislation 1850:United States federal taxation legislation 1841: 1827: 1819: 1725:Historical reputation of Warren G. Harding 1672:Warren G. Harding Supreme Court candidates 1514:1914 United States Senate election in Ohio 1442: 1428: 1420: 1710:Cultural depictions of Warren G. Harding 1519:1920 United States presidential election 81: 1570:Agricultural Appropriations Act of 1922 1312: 1715:List of memorials to Warren G. Harding 1509:Electoral history of Warren G. Harding 1374:"The Federal Tax Revision Law of 1921" 1720:Warren G. Harding Presidential Center 7: 88:Normal Tax and Surtax on Individuals 1531:1920 Republican National Convention 31:, November 23, 1921) was the first 14: 1555:Inauguration of Warren G. Harding 2323:2021 (Infrastructure, PL 117–58) 1802: 1801: 1474:28th Lieutenant Governor of Ohio 1617:Federal Aid Highway Act of 1921 1466:President of the United States 1: 1637:Great Railroad Strike of 1922 49:The legislation repealed the 16:United States tax legislation 2313:2021 (Defense Authorization) 1326:The American Economic Review 1303:for net income over $ 5,000. 2318:2021 (American Rescue Plan) 1560:Washington Naval Conference 2549: 1780: 1585:General Accounting Office 1575:Budget and Accounting Act 1457: 1322:"The Revenue Act of 1921" 121: 114: 84: 41:Secretary of the Treasury 1704:The President's Daughter 1612:Emergency Tariff of 1921 1682:Voyage of Understanding 1657:Veterans Administration 1627:Fordney–McCumber Tariff 1602:Dyer Anti-Lynching Bill 1565:Depression of 1920–1921 1320:Blakey, Roy G. (1922). 2447:1922: Fordney–McCumber 1747:Elizabeth Ann Blaesing 1642:Knox–Porter Resolution 1372:Miller, E. T. (1921). 1291:for single filers and 125:to 1922 and thereafter 37:1920 federal elections 2308:2020 (Appropriations) 2298:2020 (Families First) 2288:2018 (Appropriations) 1759:Carolyn Harding Votaw 1404:"1921 Income Tax Act" 1352:"1921 Income Tax Act" 2533:1921 in American law 2371:1828: "Abominations" 1753:George Tryon Harding 1677:Harding Railroad Car 1580:Bureau of the Budget 1524:Front porch campaign 2432:1909: Payne–Aldrich 2422:1894: Wilson–Gorman 1687:Teapot Dome scandal 1652:Sheppard–Towner Act 1647:Revenue Act of 1921 1607:Emergency Quota Act 1597:Capper–Volstead Act 1411:HiddenMysteries.org 1359:HiddenMysteries.org 86:Revenue Act of 1921 67:Tax on Corporations 63:November 23, 1921. 21:Revenue Act of 1921 2452:1930: Smoot–Hawley 2351:1791: Hamilton III 1622:Future Trading Act 75:Tax on Individuals 51:excess profits tax 23:(ch. 136, 42  19:The United States 2515: 2514: 2356:1792: Hamilton IV 2346:1790: Hamilton II 2243:2010 (PL 111-312) 2238:2010 (PL 111–240) 1816: 1815: 1793:Calvin Coolidge → 1662:Willis Graham Act 1632:Grain Futures Act 1451:Warren G. Harding 1284: 1283: 123:Surtax applicable 116:Surtax applicable 2540: 2507:2018/2019: Trump 2457:1934: Reciprocal 2381:1833: Compromise 2341:1789: Hamilton I 1843: 1836: 1829: 1820: 1805: 1804: 1786:← Woodrow Wilson 1741:Florence Harding 1477: 1469: 1444: 1437: 1430: 1421: 1415: 1414: 1408: 1400: 1394: 1393: 1369: 1363: 1362: 1356: 1348: 1342: 1341: 1317: 82: 2548: 2547: 2543: 2542: 2541: 2539: 2538: 2537: 2518: 2517: 2516: 2511: 2492:1988: Canada FT 2442:1921: Emergency 2437:1913: Underwood 2366:1824: Sectional 2327: 2213:2007 (Mortgage) 2113:1983 (PL 98-76) 2108:1983 (PL 98-67) 1859: 1852: 1847: 1817: 1812: 1776: 1729: 1691: 1543: 1535: 1503:The Marion Star 1480: 1472: 1461: 1453: 1448: 1418: 1406: 1402: 1401: 1397: 1371: 1370: 1366: 1354: 1350: 1349: 1345: 1319: 1318: 1314: 1310: 164: 157: 150: 143: 124: 117: 90: 87: 77: 69: 60: 17: 12: 11: 5: 2546: 2544: 2536: 2535: 2530: 2520: 2519: 2513: 2512: 2510: 2509: 2504: 2499: 2494: 2489: 2484: 2479: 2474: 2469: 2464: 2459: 2454: 2449: 2444: 2439: 2434: 2429: 2424: 2419: 2417:1890: McKinley 2414: 2409: 2406: 2403: 2398: 2393: 2388: 2383: 2378: 2373: 2368: 2363: 2358: 2353: 2348: 2343: 2337: 2335: 2329: 2328: 2326: 2325: 2320: 2315: 2310: 2305: 2300: 2295: 2290: 2285: 2280: 2275: 2270: 2265: 2260: 2255: 2250: 2245: 2240: 2235: 2230: 2225: 2220: 2215: 2210: 2205: 2200: 2195: 2190: 2185: 2180: 2175: 2170: 2165: 2160: 2155: 2150: 2145: 2140: 2135: 2130: 2125: 2120: 2115: 2110: 2105: 2100: 2095: 2090: 2085: 2080: 2075: 2070: 2065: 2060: 2055: 2050: 2045: 2040: 2035: 2030: 2025: 2020: 2015: 2010: 2005: 2000: 1995: 1990: 1985: 1980: 1975: 1970: 1965: 1960: 1955: 1950: 1945: 1940: 1935: 1930: 1925: 1920: 1915: 1910: 1905: 1900: 1895: 1890: 1885: 1880: 1875: 1870: 1864: 1862: 1854: 1853: 1848: 1846: 1845: 1838: 1831: 1823: 1814: 1813: 1811: 1810: 1797: 1796: 1789: 1781: 1778: 1777: 1775: 1774: 1768: 1762: 1756: 1750: 1744: 1737: 1735: 1731: 1730: 1728: 1727: 1722: 1717: 1712: 1707: 1699: 1697: 1693: 1692: 1690: 1689: 1684: 1679: 1674: 1669: 1664: 1659: 1654: 1649: 1644: 1639: 1634: 1629: 1624: 1619: 1614: 1609: 1604: 1599: 1594: 1589: 1588: 1587: 1582: 1572: 1567: 1562: 1557: 1551: 1549: 1537: 1536: 1534: 1533: 1528: 1527: 1526: 1516: 1511: 1506: 1499: 1494: 1488: 1486: 1482: 1481: 1479: 1478: 1470: 1458: 1455: 1454: 1449: 1447: 1446: 1439: 1432: 1424: 1417: 1416: 1395: 1384:(3): 223–238. 1364: 1343: 1311: 1309: 1306: 1305: 1304: 1282: 1281: 1279: 1277: 1274: 1271: 1268: 1264: 1263: 1261: 1259: 1256: 1253: 1250: 1246: 1245: 1243: 1241: 1238: 1235: 1232: 1228: 1227: 1224: 1221: 1218: 1215: 1212: 1208: 1207: 1204: 1201: 1198: 1195: 1192: 1188: 1187: 1184: 1181: 1178: 1175: 1172: 1168: 1167: 1164: 1161: 1158: 1155: 1152: 1148: 1147: 1144: 1141: 1138: 1135: 1132: 1128: 1127: 1124: 1121: 1118: 1115: 1112: 1108: 1107: 1104: 1101: 1098: 1095: 1092: 1088: 1087: 1084: 1081: 1078: 1075: 1072: 1068: 1067: 1064: 1061: 1058: 1055: 1052: 1048: 1047: 1044: 1041: 1038: 1035: 1032: 1028: 1027: 1024: 1021: 1018: 1015: 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2382: 2379: 2377: 2374: 2372: 2369: 2367: 2364: 2362: 2359: 2357: 2354: 2352: 2349: 2347: 2344: 2342: 2339: 2338: 2336: 2334: 2330: 2324: 2321: 2319: 2316: 2314: 2311: 2309: 2306: 2304: 2301: 2299: 2296: 2294: 2293:2019 (SECURE) 2291: 2289: 2286: 2284: 2281: 2279: 2276: 2274: 2271: 2269: 2266: 2264: 2261: 2259: 2256: 2254: 2251: 2249: 2246: 2244: 2241: 2239: 2236: 2234: 2231: 2229: 2226: 2224: 2221: 2219: 2216: 2214: 2211: 2209: 2206: 2204: 2201: 2199: 2196: 2194: 2191: 2189: 2186: 2184: 2181: 2179: 2176: 2174: 2173:2001 (EGTRRA) 2171: 2169: 2166: 2164: 2161: 2159: 2156: 2154: 2151: 2149: 2146: 2144: 2141: 2139: 2136: 2134: 2131: 2129: 2126: 2124: 2121: 2119: 2116: 2114: 2111: 2109: 2106: 2104: 2101: 2099: 2096: 2094: 2091: 2089: 2086: 2084: 2081: 2079: 2076: 2074: 2071: 2069: 2066: 2064: 2061: 2059: 2056: 2054: 2051: 2049: 2046: 2044: 2041: 2039: 2036: 2034: 2031: 2029: 2026: 2024: 2021: 2019: 2016: 2014: 2011: 2009: 2006: 2004: 2001: 1999: 1996: 1994: 1991: 1989: 1986: 1984: 1981: 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1517: 1515: 1512: 1510: 1507: 1505: 1504: 1500: 1498: 1495: 1493: 1490: 1489: 1487: 1483: 1475: 1471: 1467: 1464: 1460: 1459: 1456: 1452: 1445: 1440: 1438: 1433: 1431: 1426: 1425: 1422: 1412: 1405: 1399: 1396: 1391: 1387: 1383: 1379: 1375: 1368: 1365: 1360: 1353: 1347: 1344: 1339: 1335: 1332:(1): 75–108. 1331: 1327: 1323: 1316: 1313: 1307: 1302: 1298: 1294: 1290: 1287:Exemption of 1286: 1285: 1280: 1278: 1275: 1272: 1269: 1266: 1265: 1262: 1260: 1257: 1254: 1251: 1248: 1247: 1244: 1242: 1239: 1236: 1233: 1230: 1229: 1225: 1222: 1219: 1216: 1213: 1210: 1209: 1205: 1202: 1199: 1196: 1193: 1190: 1189: 1185: 1182: 1179: 1176: 1173: 1170: 1169: 1165: 1162: 1159: 1156: 1153: 1150: 1149: 1145: 1142: 1139: 1136: 1133: 1130: 1129: 1125: 1122: 1119: 1116: 1113: 1110: 1109: 1105: 1102: 1099: 1096: 1093: 1090: 1089: 1085: 1082: 1079: 1076: 1073: 1070: 1069: 1065: 1062: 1059: 1056: 1053: 1050: 1049: 1045: 1042: 1039: 1036: 1033: 1030: 1029: 1025: 1022: 1019: 1016: 1013: 1010: 1009: 1005: 1002: 999: 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20: 18: 2497:1993: NAFTA 2386:1842: Black 2278:2017 (TCJA) 2253:2012 (ATRA) 1765:Nan Britton 1476:(1904–1906) 1468:(1921–1923) 156:Surtax Rate 142:Surtax Rate 111:Normal Rate 2522:Categories 2462:1948: GATT 2283:2018 (BBA) 2268:2015 (BBA) 2233:2010 (ACA) 1973:1940 (2nd) 1771:Laddie Boy 1767:(mistress) 1749:(daughter) 1541:Presidency 1308:References 1267:1,000,000 106:Net Income 33:Republican 2502:1994: WTO 2133:1986 Code 2033:1954 Code 1963:1939 Code 1773:(pet dog) 1592:Cable Act 1390:2374-1295 1338:0002-8282 165:(percent) 158:(percent) 151:(percent) 144:(percent) 137:(percent) 132:(dollars) 1858:Internal 1807:Category 1761:(sister) 1755:(father) 1546:timeline 1249:500,000 1231:300,000 1211:200,000 1191:150,000 1171:100,000 92:42  2472:1974/75 2333:Tariffs 2103:Gas Tax 1860:Revenue 1301:$ 2,000 1293:$ 2,500 1289:$ 1,000 1151:98,000 1131:96,000 1111:94,000 1091:92,000 1071:90,000 1051:88,000 1031:86,000 1011:84,000 991:82,000 971:80,000 951:78,000 931:76,000 911:74,000 891:72,000 871:70,000 851:68,000 831:66,000 811:64,000 791:62,000 771:60,000 751:58,000 731:56,000 711:54,000 691:52,000 671:50,000 651:48,000 631:46,000 611:44,000 591:42,000 571:40,000 551:38,000 531:36,000 511:34,000 491:32,000 471:30,000 451:28,000 431:26,000 411:24,000 391:22,000 371:20,000 351:18,000 331:16,000 311:14,000 291:12,000 271:10,000 118:to 1921 58:History 2223:Crisis 1743:(wife) 1734:Family 1388:  1336:  251:8,000 231:6,000 211:5,000 191:4,000 96:  39:. New 27:  2123:COBRA 1407:(PDF) 1355:(PDF) 1297:$ 400 94:Stat. 25:Stat. 2487:1988 2482:1984 2477:1979 2467:1962 2408:1875 2405:1872 2396:1857 2376:1832 2273:2016 2263:2014 2258:2012 2248:2011 2228:2009 2218:2008 2208:2007 2203:2006 2198:2006 2193:2005 2188:2004 2183:2003 2178:2002 2168:1998 2163:1997 2158:1996 2153:1993 2148:1990 2143:1988 2138:1987 2128:1986 2118:1984 2098:1982 2093:1981 2088:1980 2083:1978 2078:1977 2073:1976 2068:1975 2063:1971 2058:1969 2053:1968 2048:1966 2043:1964 2038:1962 2028:1954 2023:1951 2018:1950 2013:1950 2008:1948 2003:1945 1998:1944 1993:1943 1988:1943 1983:1942 1978:1941 1968:1940 1958:1937 1953:1936 1948:1935 1943:1934 1938:1932 1933:1928 1928:1926 1923:1924 1918:1921 1913:1918 1908:1917 1903:1916 1898:1914 1893:1913 1888:1909 1883:1894 1878:1864 1873:1862 1868:1861 1485:Life 1463:29th 1386:ISSN 1334:ISSN 1276:73 1273:65 1258:72 1255:64 1240:71 1237:63 1226:58 1223:50 1220:68 1217:60 1206:57 1203:49 1200:64 1197:56 1186:56 1183:48 1180:60 1177:52 1166:55 1163:47 1160:56 1157:48 1146:54 1143:46 1140:55 1137:47 1126:53 1123:45 1120:54 1117:46 1106:52 1103:44 1100:53 1097:45 1086:51 1083:43 1080:52 1077:44 1066:50 1063:42 1060:51 1057:43 1046:49 1043:41 1040:50 1037:42 1026:48 1023:40 1020:49 1017:41 1006:47 1003:39 1000:48 997:40 986:46 983:38 980:47 977:39 966:45 963:37 960:46 957:38 946:44 943:36 940:45 937:37 926:43 923:35 920:44 917:36 906:42 903:34 900:43 897:35 886:41 883:33 880:42 877:34 866:40 863:32 860:41 857:33 846:39 843:31 840:40 837:32 826:38 823:30 820:39 817:31 806:37 803:29 800:38 797:30 786:36 783:28 780:37 777:29 766:35 763:27 760:36 757:28 746:34 743:26 740:35 737:27 726:33 723:25 720:34 717:26 706:32 703:24 700:33 697:25 686:31 683:23 680:32 677:24 666:30 663:22 660:31 657:23 646:29 643:21 640:30 637:22 626:28 623:20 620:29 617:21 606:27 603:19 600:28 597:20 586:26 583:18 580:27 577:19 566:25 563:17 560:26 557:18 546:24 543:16 540:25 537:17 526:23 523:15 520:24 517:16 506:23 503:15 500:23 497:15 486:21 483:13 480:22 477:14 466:20 463:12 460:21 457:13 446:19 443:11 440:20 437:12 426:18 423:10 420:19 417:11 406:17 400:18 397:10 386:16 380:17 366:14 360:16 346:13 340:15 326:12 320:14 306:11 300:13 286:10 280:12 260:11 240:10 98:233 29:227 2524:: 1409:. 1380:. 1376:. 1357:. 1330:12 1328:. 1324:. 1270:8 1252:8 1234:8 1214:8 1194:8 1174:8 1154:8 1134:8 1114:8 1094:8 1074:8 1054:8 1034:8 1014:8 994:8 974:8 954:8 934:8 914:8 894:8 874:8 854:8 834:8 814:8 794:8 774:8 754:8 734:8 714:8 694:8 674:8 654:8 634:8 614:8 594:8 574:8 554:8 534:8 514:8 494:8 474:8 454:8 434:8 414:8 403:9 394:8 383:8 377:9 374:8 363:6 357:8 354:8 343:5 337:7 334:8 323:4 317:6 314:8 303:3 297:5 294:8 283:2 277:4 274:8 266:9 263:1 257:3 254:8 246:9 243:1 237:2 234:8 226:8 223:0 220:9 217:1 214:8 206:8 203:0 200:8 197:0 194:8 186:4 183:0 180:4 177:0 174:4 171:0 1842:e 1835:t 1828:v 1548:) 1544:( 1443:e 1436:t 1429:v 1413:. 1392:. 1382:2 1361:. 1340:.

Index

Stat.
227
Republican
1920 federal elections
Secretary of the Treasury
Andrew Mellon
excess profits tax
Stat.
233
"The Revenue Act of 1921"
ISSN
0002-8282
"1921 Income Tax Act"
"The Federal Tax Revision Law of 1921"
ISSN
2374-1295
"1921 Income Tax Act"
v
t
e
Warren G. Harding
29th
President of the United States
28th Lieutenant Governor of Ohio
Harding Home
Harding Tomb
The Marion Star
Electoral history of Warren G. Harding
1914 United States Senate election in Ohio
1920 United States presidential election

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