Revenue Act of 1916
E127686
The Revenue Act of 1916 was a landmark U.S. federal tax law that significantly expanded income taxation and introduced new taxes to help finance the government in the lead-up to American involvement in World War I.
All labels observed (1)
| Label | Occurrences |
|---|---|
| Revenue Act of 1916 canonical | 5 |
Statements (44)
| Predicate | Object |
|---|---|
| instanceOf |
United States federal statute
ⓘ
tax law ⓘ |
| affectedBy | Sixteenth Amendment to the United States Constitution ⓘ |
| appliesToTaxYear | 1916 ⓘ |
| branchOfGovernment | legislative branch of the United States ⓘ |
| category |
1916 in American law
ⓘ
United States federal taxation legislation ⓘ World War I finance in the United States ⓘ |
| containsProvision |
exemptions and deductions for individual taxpayers
ⓘ
federal estate tax on transfers at death ⓘ graduated income tax rates on individuals ⓘ taxation of corporate income ⓘ war-related revenue measures ⓘ |
| country |
United States of America
ⓘ
surface form:
United States
|
| enactmentDate | 1916-09-08 ⓘ |
| expanded | federal income tax base ⓘ |
| follows | Revenue Act of 1913 ⓘ |
| government |
Woodrow Wilson administration
ⓘ
surface form:
Administration of President Woodrow Wilson
|
| hasLanguage | English ⓘ |
| historicalPeriod |
World War I
ⓘ
surface form:
World War I era
|
| impact |
expanded number of Americans subject to federal income tax
ⓘ
increased federal revenues prior to U.S. entry into World War I ⓘ strengthened federal reliance on income taxation ⓘ |
| increased | top marginal income tax rate in the United States ⓘ |
| introducedTax |
excess profits tax on corporations
ⓘ
federal estate tax ⓘ new graduated income tax rates ⓘ |
| jurisdiction |
United States government
ⓘ
surface form:
United States federal government
|
| legalCitation | 39 Stat. 756 ⓘ |
| legislativeBody | United States Congress ⓘ |
| locationOfEnactment | Washington, D.C. ⓘ |
| policyArea |
public finance
ⓘ
taxation ⓘ |
| purpose |
to expand the federal income tax
ⓘ
to increase taxation of high incomes and large estates ⓘ to raise federal revenue in anticipation of World War I expenses ⓘ |
| regulates |
corporate income taxation
ⓘ
individual income taxation ⓘ taxation of estates ⓘ |
| replacedBy | Revenue Act of 1917 ⓘ |
| signedBy | Woodrow Wilson ⓘ |
| signingDate | 1916-09-08 ⓘ |
| subjectOf | United States tax history scholarship ⓘ |
| timePeriod |
Progressive Era
ⓘ
surface form:
Progressive Era in the United States
|
Referenced by (5)
Full triples — surface form annotated when it differs from this entity's canonical label.