Article: Corporate Income Tax Act of 1909

Corporate Income Tax Act of 1909

Reuven S. Avi-Yonah


Excerpt from the Corporate Income Tax Act of 1909

That every corporation, joint stock company or association, organized for profit and having a capital stock represented by shares ... now or hereafter organized under the laws of the United State or of any State ... shall be subject to pay annually a special excise tax with respect to carrying on or doing business by such corporation ... equivalent to one per centum on the entire net income over and above five thousand dollars received by it from all sources during such year....


T he Corporate Tax Act of 1909 (36 Stat. 11, 112) imposed an excise tax on corporations for the ...

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