Newspapers / The Fieldcrest Mill Whistle … / Dec. 7, 1953, edition 1 / Page 7
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f«deral Income Tax ® Be Lower In 1954 Our federal income taxes will be 10 per cent less in 1954. This 1951 only Hon''* Company will withhold less Ihe your pay for tax purposes, is the lower taxes in 1954 tax increases under the Act remain in effect ‘ the end of 1953. tales year, the old tax lijjk the old withholding rates go effect. Because of this, the Jt aiding rate during 1954 will be Jo *^^te of 18 per cent instead of the 1953 ^ which applied during Social Security taxes, con- Pai)y equally by you and the Com- aiito’be higher in 1954 due to the to 2 increase from 1V2 per cent cent of wages up to $3600. Mtij, *“Onnpany is required by law to '’*%ee° the wages paid em- taj; ® the amount of the withholding Mtiii, ® law requires that the new . "holdin- —- - g rate apply to all wages and after January 1, 1954, re- ■ of when the wages were ?arj '^Died. lioi(jj®°'^tion of the new weekly with- ll g ® tax table prescribed by the the '^^'^asury Department appears Adjoining column. You may want 'avg ' °^t and keep the table. If you tear lol^jj^'l'^estions concerning the with' \ ^ tax or Social Security taxes, 'fe f ^ obtain information or assist- Sof your departmental super- the Personnel Department. ^0 Security Taxes ^^•*‘ci-ease January 1 'ly tg^^*-°niatic increase in Social Secur- both the employee and the \ takes effect January 1, 1954. ‘'j' '^oll deduction for Social Secur- * So from 1 % per cent to 2 per the same increase in the ri contribution taking place on V ^he Social Security Law was 1935, it required that the cost I etif 1 be shared equally by ^ employer. The Nrjb provides that the rate of ”on be gradually increased to that the amount collected Of enough to take care of the the benefits paid. ,^69^ Job Insurance tff the ^ "'ork at Fieldcrest depends to products. Every ^ niake to get high production, '•'SUr down and quality up is 9nce premium on your job. Se ^ is a man who holds *6s j °Pen for his wife while she ® load of firoceries. DECEMBER 7, 1953 Federal Income Tax New 1954 Withholding Tahle (To Become Effective January 1, 1954) If the payroll period with respect to an employee is WEEKLY Andthewagesare- And the number of withholding exemptions claimed is— At least But less 0 1 2 3 4 5 6 7 8 9 1 10 or more The amount of tax to be withheld shall be— 25 . 26 4.60 2.30 2.50 2.60 2.80 3.00 0 — • = «=»• 26 . 27 4.80 .20 .30 .50 .70 0 0 0 0 27 . 28 5.00 0 0 0 0 0 28 . 29 5.10 0 0 0 0 29 . 30 5.30 0 0 0 0 0 0 0 0 30 . 31 5.50 3.20 3.40 3.50 3.70 3.90 .90 1.10 1.20 1.40 1.60 . — . . 31 32 5.70 5.90 6.00 6.20 0 0 0 0 32 33 0 0 0 33 34 0 0 0 0 0 34 35 0 0 0 0 0 0 0 At iMat But Im* than 0 1 2 3 4 5 6 7 8 9 10 35 36 6.40 6.60 6.S0 4.10 4.30 4.40 4.60 4.80 1.80 2.00 2.10 2.30 2.50 0 36 37'.. 0 0 0 0 37 38 0 0 0 0 38 39 6.90 7.10 0 0 0 39 40 .20 0. 0 0 0 0 0 0 0 0 40 41 7.30 7.50 7.70 5.00 5.20 5.30 5.50 5.70 2.70 2.90 3.00 3.20 3.40 .40 .50 .70 .90 1.10 0 0 0 0 0 0 41 42 0 0 0 0 42 43 0 0 0 0 43 44 7.80 8.00 0 0 0 0 0 44...., 45 0 0 0 0 0 0 0 0 0 45 46 8.20 8.40 8.60 8.70 8.90 5.90 6.10 6.20 6.40 6.60 3.60 3.80 3.90 4.10 4.30 1.30 1.40 1.60 1.80 2.00 46 47 0 0 0 0 47 48 0 0 0 0 0 48 49 0 0 0 0 49 50 0 0 0 0 0 0 0 50 51 9.10 9.30 9.50 6.80 7.00 7.10 7.30 7.50 4.50 4.70 4.80 5.00 5.20 2.20 2.30 2.50 2.70 2.90 51 52 0 0 0 52 53..i... .20 .40 .60 0 0 0 53 54 9.60 0 0 0 54 55 9.80 0 0 0 0 0 0 0 0 At least But less 0 1 2 3 4 5 6 7 8 9 10 or more Th e amou nt of tax to be withheld shall b®— $55 50 $56 57 $10.00 10.20 J7.70 7.90 8.00 8.20 S5.40 5.60 5.70 5.90 6.10 $3.10 3.20 3.40 3.60 3.80 $ .80 .90 1.10 1.30 1.50 $0 $0 $0 $0 $0 $0 57 58.... 10.40 0 0 0 0 0 58 59 10.50 0 0 0 0 59 60.... 10.70 8.40 0 0 0 0 0 0 0 0 0 0 60 62 11.00 8.70 6.40 6.70 7.10 7.40 7.80 4.10 4.40 4.80 5.10 5.50 1.70 2.10 2.50 2.80 3.20 0 0 .20 .50 .90 62 64 11.30 9.00 0 0 0 0 64 66. . 11.70 9.40 9.80 10.10 0 0 0 0 66 68 .. 12.10 0 0 0 0 68 70... 12.40 0 0 0 0 0 0 0 0 70 72.... 12.80 10.50 10.80 8.20 8.50 8.90 9.20 9.60 5.90 6.20 6.60 6.90 7.30 3.50 3.90 4.30 4.60 5.00 1.20 1.60 2.00 2.30 2.70 0 0 0 0 .40 72 74 13.10 0 0 0 0 74 76 13.50 11.20 0 0 0 0 76 78 13.90 11.60 0 0 78 80. .. 14.20 11.90 0 0 0 0 0 80 82 14.60 12.30 10.00 10.30 10.70 11.00 7.70 8.00 8.40 8.70 9.10 5.30 5.70 6.10 6.40 6.80 3.00 3.40 3.80 4.10 4.50 .70 1.10 1.50 1.80 2.20 82 84 14.90 12.60 0 0 0 84 86 15.30 13.00 0 0 86 88 15.70 13.40 0 0 88 90 16.00 13.70 11.40 0 0 0 0 0 90 92 16.40 14.10 11.80 9.50 9.80 10.20 10.50 10.90 7.10 7.50 ^90 8.20 8.60 4.80 5.20 5.60 5.90 6.30 2.50 2.90 3.30 3.60 4.00 .20 .60 .90 1.30 1.70 92 94 16.70 14.40 12.10 0 0 94 96 17.10 14.80 12.50 0 0 96 98 17.50 15.20 12.80 0 0 98 100 17.80 15.50 13.20 0 0 0 0 At l«i«t Sut Im th«n 0 1 2 3 4 5 6 7 8 9 10 100 105 18.50 16.10 13.80 11.50 12.40 13.30 14.20 15.10 9.20 10.10 11.00 11.90 12.80 6.90 7.80 8.70 9.60 10.50 4.60 5.50 6.40 7.30 2.30 3.20 4.10 5.00 5.90 105 110 19.40 17.00 14.70 15.60 16.50 17.40 .90 1.80 2.70 3.60 0 0 110 115 20.30 17.90 0 0 115 120 21.20 18.80 0 .40 1.30 0 120 125 22.10 19.70 0 0
The Fieldcrest Mill Whistle (Spray, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Dec. 7, 1953, edition 1
7
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