The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1903-02-10
Under the Dome.

The Revenue bill Will probably be re-
ported TO the House this week, and thus
ample time will be given for its full dis
| cusSion and consideration before the rush
of the closing days of the session. The
subcommittee of the Senate and House
Finance Committees, which has been
| preparing this bill, will report the same
| tomorrow afternoon to a joint meeting Of
the Senate and House Committees This
subcommittee has been induatrtOusly
engaged in the preparation of this bill,
working on it both by day and late at
night.
In an interview with Senator london,
chairman of this subcommittee. the
| News and Observer is enabled to give its
readers the changes proposed by that
committee in the new revenue bill, which
are as follows:
The section of the present revenue bill
relating to bank taxation and reports
from corporations will be taken from the
revenue act and placed where it proper
ly belong, in the Machinery Act. Sew
eral changes in this section are proposed,
but will not be definitely determined
until the Machinery Act is considered.
In schedule AA, relating to the inherit
ance tax, only one change is proposed
AAA1 tItS Jaw I'll + 1bi1i III thC
same position as the lineai issue, thus
making the rate Of inheritance tax the
same.
The change proposed in the income tax
does not require persons to list their in
comes which do not exceed 81 900. the
amount exempted.
In schedule 3, the first change propos-
cd strikes out of section 80 the proviso
allowing the license tax to be p~o-ratcd
for such parts of the year as it is used.
Sesction 80. imposing the tax in circuses
etc, is amended so as to prevent cir
cuses from avoiding, as many have done,
the tax therein imposed. The change i'm
loses a tax 5000 a day on every circus to
which the price of admission, including
a reserved seat, does not exceed fifty
cents.
The license tax is repealed or a num-
Der of vocatiOns, such as auctioneers,
dealers is fresh meats, wood dealers, junk
dealers, etc. The tax on horse dealers
is reduced from s25 to SIS, to be paid to
the State Treasurer. Dealers of clocks,
stoves and ranges must pay a tax of 800
instead of $50 as heretofore.
Section so, relating to paw brokers, is
amended to read, 'This section shall
apply to all persons, firms or corpora
tions conducting a business of londingi
money and holding the same by chattcl
mortgage, pledge or otherwise and who
charge more than the legal rate Of in
tcrcst.' In section "a, relating to ped
dlers, persons who sell books, periodicals
and printed music are exempted from
the peddlers license tax.
The tax on lightning-rod agents is in
creased from $50 to $50.
The tax on hotels is changed so as not
to tax those charging not over SLIGO a
day.
The tax on oil tanks is increased from
500 to 500 and a tax OF IS is levied upon
each delivery wagon of oil.
Section 10, relating to liquor dealers.
is amended SO as to increase the taxi
therein levied from $50 to $50, from STOOL
to 5000 and from s25 to $50.
The Merchants Special License Tax
of LOO is repealed ana their tax on their
gross sales is changed so as to be fifty
cents on sales of $1,000 or less and on all
sales over 81 900 or any fractional part
thereof, fifty cents for each 81 900 or
the fractional part thereof. This change
will impose a much less tax on small
merchants and a larger tax on mcrchantsl
who sell over 5 ) 1000.
The tax on immigrant agents is in
creased from $25 to 500 for the State and
500 in each county.
Section 81. relating to the tax on cor
porations, is amended so as to add there
to the words n county, city or town
shall have the power to levy a franchise |
tax under this section
The rate of taxation upon poll cd
property has not yet been definitely fix
cd, but Will probably be same as here
tofore.
The tax on cigarettes, express compa-l
mics and telegraph companies will be in-I
creased and a tax will be levied upon
whiskey. which it is hoped Will add
largely to the States revenue.
The subcommittee. which has been |
preparing the revenue act, Will now be-
gin their work upon the machinery act in
which many important changes are pro
posed.
This subcommittee, in framing the rev
enue act, have allowed a full opportunity
to all persons to be heard who desired
any changes in existing revenue act. but |
very few have availed themselves of that |
opportunity, thus showing that the pres-I
ent revenue act. which was so severely
criticised when enacted, has not been as
oppressive as at first stated.
The roposed changes will be consid-I
cred by the full committee this week
when opportunity again will be presented
to all who wish to be heard with refer-i
ence to any schedule in the bill.