REVENUE ACT OF 1862

The 'Revenue Act of 1862' (July 1, 1862, Ch. 119, ), was passed by the United States Congress during the American Civil War and signed into law by President Abraham Lincoln.
Income between $800 and $10,000 was taxed at a 3 percent rate. Higher income was taxed at a 5 percent rate.
The income tax was to be withheld by the employer.
A permanent tax collection agency and the office of the Commissioner of Internal Revenue were established.

Contents

Inflation-adjusted numbers

Inflation-adjusted numbers

Corrected for inflation by CPI [1]:

1862 dollars	2005 dollars
$800	$15,445
$10,000	$193,058