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26 USC § 1348 - Repealed. Pub. L. 97–34, title I, § 101(c)(1), Aug. 13, 1981, 95 Stat. 183] 

---
identifier: "/us/usc/t26/s1348"
source: "usc"
legal_status: "official_prima_facie"
title: "26 USC § 1348 - Repealed. Pub. L. 97–34, title I, § 101(c)(1), Aug. 13, 1981, 95 Stat. 183]"
title_number: 26
title_name: "INTERNAL REVENUE CODE"
section_number: "1348"
section_name: "Repealed. Pub. L. 97–34, title I, § 101(c)(1), Aug. 13, 1981, 95 Stat. 183]"
chapter_number: 1
chapter_name: "NORMAL TAXES AND SURTAXES"
subchapter_number: "Q"
subchapter_name: "Readjustment of Tax Between Years and Special Limitations"
part_number: "VI"
part_name: "REPEALED]"
positive_law: false
currency: "119-84"
last_updated: "2026-04-17"
format_version: "1.1.0"
generator: "[email protected]"
status: "repealed"
---

# [§ 1348. Repealed. Pub. L. 97–34, title I, § 101(c)(1), Aug. 13, 1981, 95 Stat. 183]

Section, added , , ; amended , , ; , , ; , §§ 441(a), 442(a), title VII, § 701(x)(1), (2), , , 2920; , as amended , , , provided for a 50-percent maximum rate on personal service income.

## Statutory Notes and Related Subsidiaries

### Effective Date of Repeal

Repeal effective for taxable years beginning after , see , set out as an Effective Date of 1981 Amendment note under .

### Transitional Rule in Case of Taxable Year Beginning Before Nov. 1, 1978, and Ending After Oct. 31, 1978

, , , as amended by , , , provided that in the case of a taxable year which began before , and ended after , the amount taken into account under subsec. (b)(2)(B) of  by reason of  be 50 percent of the lesser of the net capital gain for the taxable year or the net capital gain taking into account only gain or loss properly taken into account for the portion of the taxable year before .