Internal Revenue Code of 1954
- Corporate Tax Rates. Temporarily extended 5 percentage point increase in corporate tax rates through 3/31/55.
- Depreciation Deductions. Increased depreciation deductions by providing additional depreciation schedules.
- Dividend Tax Credit. Created 4% dividend tax credit for individuals.
Excise Tax Reduction Act of 1954
- Excise Tax Increases. Temporarily extended 1951 excise tax increases through 3/31/55.
- Excise Tax Rates. Reduced excise tax rates on telephones, admissions, jewelry, etc.
Revenue Act of 1951
- Individual Income Tax. Temporarily increased individual income tax rates through 1953.
- Corporate Tax. Temporarily increased corporate tax rates 5 percentage points through 3/31/54.
- Excise Taxes. Temporarily increased excise taxes on alcohol, tobacco, gasoline, and autos through 3/31/54.
Revenue Act of 1950
- Individual Income Tax. Eliminated portion of the individual income tax rate reductions from 1945 and 1948 acts.
- Corporate Tax. Eliminated 53% corporate tax rate "bubble"; increased top corporate rate from 38% to 45%.
Excess Profits Tax of 1950
- Corporate Tax Rate. Increased top corporate tax rate from 45% to 47%.
- Excess Profits Tax. Created temporary excess profits tax of 30% to 30/53.