26 U.S.C. § 3 : US Code - Section 3: Tax tables for individuals

Search 26 U.S.C. § 3 : US Code - Section 3: Tax tables for individuals

(a) Imposition of tax table tax
(1) In general
In lieu of the tax imposed by section 1, there is hereby
imposed for each taxable year on the taxable income of every
individual -
(A) who does not itemize his deductions for the taxable year,
and
(B) whose taxable income for such taxable year does not
exceed the ceiling amount,
a tax determined under tables, applicable to such taxable year,
which shall be prescribed by the Secretary and which shall be in
such form as he determines appropriate. In the table so
prescribed, the amounts of the tax shall be computed on the basis
of the rates prescribed by section 1.
(2) Ceiling amount defined
For purposes of paragraph (1), the term "ceiling amount" means,
with respect to any taxpayer, the amount (not less than $20,000)
determined by the Secretary for the tax rate category in which
such taxpayer falls.
(3) Authority to prescribe tables for taxpayers who itemize
deductions
The Secretary may provide that this section shall apply also
for any taxable year to individuals who itemize their deductions.
Any tables prescribed under the preceding sentence shall be on
the basis of taxable income.
(b) Section inapplicable to certain individuals
This section shall not apply to -
(1) an individual making a return under section 443(a)(1) for a
period of less than 12 months on account of a change in annual
accounting period, and
(2) an estate or trust.
(c) Tax treated as imposed by section 1
For purposes of this title, the tax imposed by this section shall
be treated as tax imposed by section 1.
(d) Taxable income
Whenever it is necessary to determine the taxable income of an
individual to whom this section applies, the taxable income shall
be determined under section 63.
(e) Cross reference
For computation of tax by Secretary, see section 6014.