Western Carolina Democrat and French Broad hustler. [volume] (Hendersonville, N.C.) 1913-1915, 1913-03-13
THE NEW REVENUE BILL.
Summary of Original Product of Joint
Finance Committee.

M@MOO OVAA4AA4UOCOo
The revenue bill provides for a tax
on inheritances, beginning with 81 for
every 800 above $4,000 and running
up to 81 per 800, the rate graded &C
cording to the degree of relationship
and the amount of the Inheritance.
Incomes above $1,000 shall be taxed
from 1 to 3 per cent, according to
] amount. If the amount of income Ii
able to tax is $1,000 or less above the
exemption the rate is 1 per cent, 1R
up to 81, 500, 2 up to $4,000 and 8 above
that amount.
Under the head of license tax, a priv
ilege is charged for doing business in
the state. In this class are theaters,
travelling theatrical companies. cir
cuses, attorneys, physiciane, dentists,
real estate agents, coal dealers. ped
oilers, BICYCLE dealers, commission
merchants, ship brokers, pawn-brok-
ers, livery stables, sewing machine,
feather r~eneovators. mercantile agen-
cies, Gypsies and fortune ~tellers, light
ming rod agents, hotels, cotton COM
presses, gift enterprises, slot ma
chimes, bagatelle tables, stockholders,
bottling works, packing houses, news
paper contests, dealers in certain oils.
automobiles for hire, malt dealers,
druggists selling liquors.
Each medical depository or druggist
who sells spirituous, vinous or malt
liquors on a written prescription of a
physician shall pay a tax as follows:
In towns of less than 1000 inhabitants
$25, in towns of more than 1000 and
less than 1000 $50, in towns Of less
than 1000 SIS, in towns of less than
5000 500, of less than 10000 $3.50, of
less than $4,000 $500 and of more than
$4,000 $500.
Persons carrying on the business of
selling magazines, fruits, etc., on
trains an annual tax of 5000 shall be
charged. A graduated tax of from
SIS to SO is charged soda fountains.
On persons selling soft drinks contain
ing caffeine, cocaine or any Of the salts
or derivatives, whether dispensed at q
fountain or sold in bottles, a privilege
tax of 5 per cent of the total purchase
price is charged, but nothing in the
section shall be construed to authoriz-
ed the sale of cocainS in any manner
now forbidden by law. Each barrel,
crate or bottle or other container of
such soft drinks shall have attached
thereto a tag or stamp stating that the
privilege tax on the same has been
paid. The state treasurer must fur
nish the tags or stamps.
The annual license tax for operating
steam railroads is based on gross earn
ings. When the gross receipts per
mile are $1,000 or less per year a tax
of 81 per mile shall be charged; above
81 900 81 per mile, above $4,000 Sc per
mile and so on.
The plan of taxing express compan-
les is changed from collections of 5
per cent on gross earnings to a license
tax of 81 per mile for each mile or
road operated within the state. This
is expected to treble the sum of $4,000
heretofore collected annually from ex-
press companies. Telegraph complain
les shall pay at the rate of So per mile
for each pole of mile of line.
Each domestic and foreign corpora
ton shall pay a franchise tax of one
tenth of one per cent on it's subscrib-
ed or issued and Outstanding capital
stock, which fee shall not be less than
$40 in any case.