Revenue Act of 1950

The United States Revenue Act of 1950 eliminated a portion of the individual income tax rate reductions from the 1945 and 1948 tax acts, and increased the top corporate rate from 38 percent to 45 percent.

This act changed the law regarding tax exempt organizations. It introduced the concept of Unrelated Business Income Tax, denied exemption to certain foundations and trusts, and denied deductions to donors of some organization which failed to meet certain standards.^[1]

References

↑ Finkelstein, Maurice (January 1952). "Tax Exempt Charitable Corporations: Revenue Act of 1950". Michigan Law Review. 50 (3): 427–434. doi:10.2307/1284542.

External links

Full text of the Act

Tax Acts of the United States

Internal Revenue	1861 1862 1864 1913 1916 1917 1918 1921 1924 1926 1928 1932 1934 1935 1936 1940 1940 (2nd) 1941 1942 1943 1943 1944 1945 1948 1950 1950 1951 1954 1954 Code 1962 1964 1968 1969 1971 1975 1976 1977 1978 1981 1982 Gas Tax 1984 COBRA 1986 1986 Code 1990 1993 1996 1997 1998 2001 2002 2003 2004 2005 2006 2008 Crisis 2009 2010 2012

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