Revenue Act of 1917
E590716
The Revenue Act of 1917 was a U.S. federal law that significantly increased income and excess profits taxes to help finance American involvement in World War I.
All labels observed (2)
| Label | Occurrences |
|---|---|
| War Revenue Act of 1917 | 2 |
| Revenue Act of 1917 canonical | 1 |
Statements (44)
| Predicate | Object |
|---|---|
| instanceOf |
United States federal statute
ⓘ
tax law ⓘ |
| alsoKnownAs | War Revenue Act of 1917 NERFINISHED ⓘ |
| amends | Revenue Act of 1916 NERFINISHED ⓘ |
| appliesTo |
business profits
ⓘ
corporations ⓘ individual taxpayers ⓘ |
| appliesToJurisdiction |
United States government
ⓘ
surface form:
United States federal government
|
| authority | United States Constitution Article I taxing power ⓘ |
| country |
United States of America
ⓘ
surface form:
United States
|
| effect |
greater progressivity of the federal tax system
ⓘ
substantial increase in federal tax revenues ⓘ |
| enactedDuringConflict | World War I NERFINISHED ⓘ |
| enactmentDate | 1917-10-03 ⓘ |
| enactmentYear | 1917 ⓘ |
| followedBy | Revenue Act of 1918 NERFINISHED ⓘ |
| governmentBranch | legislative branch of the United States ⓘ |
| historicalContext | United States entry into World War I ⓘ |
| historicalPeriod | Progressive Era NERFINISHED ⓘ |
| implementedBy |
Bureau of Internal Revenue
NERFINISHED
ⓘ
United States Treasury Department NERFINISHED ⓘ |
| increased |
corporate income tax burden
ⓘ
excess profits tax rates ⓘ individual income tax rates ⓘ |
| introducedConcept | war excess profits tax ⓘ |
| legalArea | federal taxation ⓘ |
| legislativeBody | United States Congress ⓘ |
| partOf | United States federal tax code history ⓘ |
| policyGoal | to shift more tax burden to high incomes and corporate profits ⓘ |
| policyType | fiscal policy ⓘ |
| presidentAtEnactment | Woodrow Wilson NERFINISHED ⓘ |
| primaryPurpose |
to increase excess profits taxes
ⓘ
to increase federal income tax rates ⓘ to raise revenue for World War I ⓘ |
| relatedTo |
United States income tax history
ⓘ
United States war revenue legislation ⓘ |
| revenueType |
excess profits tax
ⓘ
income tax ⓘ war profits tax ⓘ |
| signedBy | Woodrow Wilson NERFINISHED ⓘ |
| subjectMatter |
progressive taxation
ⓘ
war finance ⓘ |
| taxBase |
excess profits over a defined normal return
ⓘ
net income ⓘ |
Referenced by (3)
Full triples — surface form annotated when it differs from this entity's canonical label.
this entity surface form:
War Revenue Act of 1917
this entity surface form:
War Revenue Act of 1917