§11 Tax imposed

2022—Subsec. (d). Pub. L. 117–169 substituted “the taxes imposed by subsection (a) and section 55” for “the tax imposed by subsection (a)”. 2017—Subsec. (b). Pub. L. 115–97, § 13001(a), amended subsec. (b) generally. Prior to amendment, text read as follows: “(1) In general.—The amount of the tax imposed by subsection (a) shall be the sum of— “(A) 15 percent of so much of the taxable income as does not exceed $50,000, “(B) 25 percent of so much of the taxable income as exceeds $50,000 but does not exceed $75,000, “(C) 34 percent of so much of the taxable income as exceeds $75,000 but does not exceed $10,000,000, and “(D) 35 percent of so much of the taxable income as exceeds $10,000,000. In the case of a corporation which has taxable income in excess of $100,000 for any taxable year, the amount of tax determined under the preceding sentence for such taxable year shall be increased by the lesser of (i) 5 percent of such excess, or (ii) $11,750. In the case of a corporation which has taxable income in excess of $15,000,000, the amount of the tax determined under the foregoing provisions of this paragraph shall be increased by an additional amount equal to the lesser of (i) 3 percent of such excess, or (ii) $100,000. “(2) Certain personal service corporations not eligible for graduated rates.—Notwithstanding paragraph (1), the amount of the tax imposed by subsection (a) on the taxable income of a qualified personal service corporation (as defined in section 448(d)(2)) shall be equal to 35 percent of the taxable income.” Subsec. (d). Pub. L. 115–97, § 12001(b)(11), substituted “the tax imposed by subsection (a)” for “the taxes imposed by subsection (a) and section 55”. 1993—Subsec. (b)(1). Pub. L. 103–66, § 13221(a)(3), inserted at end of closing provisions “In the case of a corporation which has taxable income in excess of $15,000,000, the amount of the tax determined under the foregoing provisions of this paragraph shall be increased by an additional amount equal to the lesser of (i) 3 percent of such excess, or (ii) $100,000.” Subsec. (b)(1)(C), (D). Pub. L. 103–66, § 13221(a)(1), (2), added subpars. (C) and (D) and struck out former subpar. (C) which read as follows: “34 percent of so much of the taxable income as exceeds $75,000.” Subsec. (b)(2). Pub. L. 103–66, § 13221(b), substituted “35 percent” for “34 percent”. 1988—Subsec. (d). Pub. L. 100–647 substituted “the taxes imposed by subsection (a) and section 55” for “the tax imposed by subsection (a)”. 1987—Subsec. (b). Pub. L. 100–203 amended subsec. (b) generally. Prior to amendment, subsec. (b) read as follows: “The amount of the tax imposed by subsection (a) shall be the sum of— “(1) 15 percent of so much of the taxable income as does not exceed $50,000, “(2) 25 percent of so much of the taxable income as exceeds $50,000 but does not exceed $75,000, and “(3) 34 percent of so much of the taxable income as exceeds $75,000. In the case of a corporation which has taxable income in excess of $100,000 for any taxable year, the amount of tax determined under the preceding sentence for such taxable year shall be increased by the lesser of (A) 5 percent of such excess, or (B) $11,750.” 1986—Subsec. (b). Pub. L. 99–514 amended subsec. (b) generally. Prior to amendment, subsec. (b) read as follows: “The amount of the tax imposed by subsection (a) shall be the sum of— “(1) 15 percent (16 percent for taxable years beginning in 1982) of so much of the taxable income as does not exceed $25,000; “(2) 18 percent (19 percent for taxable years beginning in 1982) of so much of the taxable income as exceeds $25,000 but does not exceed $50,000; “(3) 30 percent of so much of the taxable income as exceeds $50,000 but does not exceed $75,000; “(4) 40 percent of so much of the taxable income as exceeds $75,000 but does not exceed $100,000; plus “(5) 46 percent of so much of the taxable income as exceeds $100,000. In the case of a corporation with taxable income in excess of $1,000,000 for any taxable year, the amount of tax determined under the preceding sentence for such taxable year shall be increased by the lesser of (A) 5 percent of such excess, or (B) $20,250.” 1984—Subsec. (b). Pub. L. 98–369 inserted “In the case of a corporation with taxable income in excess of $1,000,000 for any taxable year, the amount of tax determined under the preceding sentence for such taxable year shall be increased by the lesser of (A) 5 percent of such excess, or (B) $20,250.” 1981—Subsec. (b)(1). Pub. L. 97–34, § 231(a)(1), substituted “15 percent (16 percent for taxable years beginning in 1982)” for “17 percent”. Subsec. (b)(2). Pub. L. 97–34, § 231(a)(2), substituted “18 percent (19 percent for taxable years beginning in 1982)” for “20 percent”. 1978—Pub. L. 95–600 reduced corporate tax rates by substituting provisions imposing a five-step tax rate structure on corporate taxable income for provisions using a normal tax and surtax approach to the taxation of corporate taxable income. 1977—Subsec. (b)(1). Pub. L. 95–30, § 201(1), substituted “

December 31, 1978” for “

December 31, 1977”. Subsec. (b)(2). Pub. L. 95–30, § 201(1), substituted “

January 1, 1979” for “

January 1, 1978” in provisions preceding subpar. (A). Subsec. (d)(1). Pub. L. 95–30, § 201(2), substituted “

December 31, 1978” for “

December 31, 1977”. Subsec. (d)(2). Pub. L. 95–30, § 201(2), substituted “

January 1, 1979” for “

January 1, 1978”. 1976—Subsec. (a). Pub. L. 94–455 reenacted subsec. (a) without change. Subsec. (b). Pub. L. 94–455, among other changes, substituted “

December 31, 1977, 22 percent” for “

December 31, 1976, 22 percent” and “after

December 31, 1974 and before

January 1, 1978” for “after

December 31, 1974 and before

January 1, 1977” and struck out provisions relating to the six-month application of the general rule. Subsec. (c). Pub. L. 94–455 struck out provisions relating to the special rule for 1976 for calendar year taxpayers. Subsec. (d). Pub. L. 94–455, among other changes, substituted provisions relating to surtax exemption of $25,000 for a taxable year ending Dec. 31, 1977, or $50,000 for a taxable year ending after Dec. 31, 1974, and before Jan. 1, 1978, for provisions relating to surtax exemption of $50,000 for any taxable year and struck out provisions relating to six-month application of the general rule. 1975—Subsec. (b). Pub. L. 94–164 redesignated existing pars. (1) and (2) as pars. (1)(A) and (1)(B), and in par. (1)(A) as so redesignated substituted “after

December 31, 1976” for “before

January 1, 1975 or after

December 31, 1975”, and in par. (1)(B) as so redesignated substituted “

January 1, 1977” for “

January 1, 1976”, and added par. (2). Pub. L. 94–12, § 303(a), reduced the normal tax for a taxable year ending after Dec. 31, 1974, and before Jan. 1, 1976, to 20 percent of so much of the taxable income as does not exceed $25,000 plus 22 percent of so much of the taxable income as exceeds $25,000. Subsec. (c). Pub. L. 94–164 designated existing provisions as par. (1), struck out special percentages for taxable years beginning before Jan. 1, 1964, and after Dec. 31, 1963 and before Jan. 1, 1965, and added par. (2). Subsec. (d). Pub. L. 94–164 designated existing provisions as par. (1), substituted “$50,000” for “$25,000”, inserted reference to section 1564 of this title, and added par. (2). Pub. L. 94–12, § 303(b), substituted “$50,000” for “$25,000”. 1969—Subsec. (d). Pub. L. 91–172 substituted “section 1561 or 1564” for “section 1561”. 1966—Subsec. (e)(4). Pub. L. 89–809, § 104(b)(2)(A), struck out par. (4) which made reference to section 881(a) (relating to foreign corporations not engaged in business in United States). Subsec. (f). Pub. L. 89–809, § 104(b)(2)(B), added subsec. (f). 1964—Subsec. (b). Pub. L. 88–272 applied the 30 percent tax to years beginning before Jan. 1, 1964 instead of

July 1, 1964 in par. (1), and in par. (2), reduced the rate from 25 percent to 22 percent, and applied it to years beginning after Dec. 31, 1963, instead of

June 30, 1964. Subsec. (c). Pub. L. 88–272 increased the percentage from 22 to 28 for taxable years beginning after Dec. 31, 1963, and before Jan. 1, 1965, and to 26 percent for taxable years beginning after Dec. 31, 1964. The surtax exemption previously carried in subsec. (c), is now stated in subsec. (d). Subsecs. (d), (e). Pub. L. 88–272 added subsec. (d) and redesignated former subsec. (d) as (e). 1963—Subsec. (b). Pub. L. 88–52 substituted “

July 1, 1964” for “

July 1, 1963” and “

June 30, 1964” for “

June 30, 1963” wherever appearing. 1962—Subsec. (b). Pub. L. 87–508 substituted “

July 1, 1963” for “

July 1, 1962” and “

June 30, 1963” for “

June 30, 1962” wherever appearing. 1961—Subsec. (b). Pub. L. 87–72 substituted “

July 1, 1962” for “

July 1, 1961” and “

June 30, 1962” for “

June 30, 1961” wherever appearing. 1960—Subsec. (b). Pub. L. 86–564 substituted “

July 1, 1961” for “

July 1, 1960” and “

June 30, 1961” for “

June 30, 1960” wherever appearing. Subsec. (d)(3). Pub. L. 86–779 inserted “and real estate investment trusts” after “regulated investment companies”. 1959—Subsec. (b). Pub. L. 86–75 substituted “

July 1, 1960” for “

July 1, 1959” and “

June 30, 1960” for “

June 30, 1959” wherever appearing. 1958—Subsec. (b). Pub. L. 85–475 substituted “

July 1, 1959” for “

July 1, 1958” and “

June 30, 1959” for “

June 30, 1958” wherever appearing. 1957—Subsec. (b). Pub. L. 85–12 substituted “

July 1, 1958” for “

April 1, 1957” and “

June 30, 1958” for “

March 31, 1957” wherever appearing. 1956—Subsec. (b). Act Mar. 29, 1956, substituted “

April 1, 1957” for “

April 1, 1956” and “

March 31, 1957” for “

March 31, 1956” wherever appearing. 1955—Subsec. (b). Act Mar. 30, 1955, substituted “

April 1, 1956” for “

April 1, 1955” and “

March 31, 1956” for “

March 31, 1955” wherever appearing.

of 1986 Amendment Pub. L. 99–514, title VI, § 601(b), Oct. 22, 1986, 100 Stat. 2249, provided that: “(1) In general.—The amendment made by subsection (a) [amending this section] shall apply to taxable years beginning on or after

July 1, 1987. “(2) Cross reference.—“For treatment of taxable years which include

July 1, 1987, see section 15 of the Internal Revenue Code of 1986.”

made by subsections (b), (c), and (d) [amending this section and section 21, 962, and 1561 of this title] apply to taxable years beginning after

December 31, 1975. The amendment made by subsection (c) [amending this section] ceases to apply for taxable years beginning after

December 31, 1976.” Pub. L. 94–12, title III, § 305(b)(1), Mar. 29, 1975, 89 Stat. 45, provided that: “The

made by this section (other than subsection (k)) [enacting section 6683 to this title and amending this section and section 245, 301, 512, 542, 543, 545, 819, 821, 822, 831, 832, 841, 842, 881, 882, 884, 952, 953, 1249, 1442, and 6016 of this title] shall apply with respect to taxable years beginning after

December 31, 1966. The amendment made by subsection (k) [amending section 1248(d)(4) of this title] shall apply with respect to sales or exchanges occurring after

December 31, 1966.”