31.3301-3—Rate and computation of tax.
| Percent | |
|---|---|
| In the calendar years 1955 to 1960, both inclusive | 3 |
| In the calendar year 1961 | 3.1 |
| In the calendar year 1962 | 3.5 |
| In the calendar year 1963 | 3.35 |
| In the calendar year 1964 and subsequent calendar years | 3.1 |
(b)
The tax is computed by applying to the wages paid in a calendar year, with respect to employment after December 31, 1938, the rate in effect at the time the wages are paid.