Revenue Act of 1864

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The Internal Revenue Act of 1864 increased the income tax rates established by the Internal Revenue Act of 1862. The measure was signed into law by President Abraham Lincoln and was the second federal income tax law in United States history.

[edit] Provisions

The measure created a third tax bracket, and increased taxes overall from the rates set in 1862. Tax brackets under the act were as follows:

• 5%: from $600 to 5,000
• 7.5%: from $5,000 to $10,000
• 10%: $10,000 and above

In addition to raising income tax rates, the act established stamp taxes on such items as matches and photographs.

Tax Acts of the United States

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