The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1915-03-05
The NEW INCOME
TAX MEASURE
NEW MEASURE PROVIDES FOR
TAX ON INDIVIDUALS AND
CORPORATIONS.
Differs From old Bill In That All
Incomes are Effected Removing
Objections 20 Old Bill
BY w. r. kEYSER
(StaH Correspondentl

CHARLESTON. ". Va. March A.
Differing greatly from the bill intro
duced during the recent regular ses-
sion Of the legislature by Delegate
Duty. imposing an excise TAX or in
comes Of corporations. an income tax
measure was offered last night by Del
egatc Haruan. OF Grant. proposing n
tax on net incomes above one tuous-
and dollars. and applying 20 individ-
uals. cop partnerships. and associations
az well as corporations. The bill as
drafted. provides that returns shall be
made before March I, Of each year,
and that the tax shall be paid annually
on or before July ;. and would apply 10
TO the present calendar year.
The word income" is defined in the
act 50 as To include all rent on real
estate. dividends on stocks. interest
on notes. mortgages or money. sal
aries. profits from business: all royal
ties. and all gains or profits or other
income by every person within the
State. by non resident Of the state
upon such income derived from prop
crty located or business transacted in
this state. except a. later exempted
in the bill
The Exceptions
The exceptions are. To individuals.
81 900; husband and wife. 81 500, for
each child under ~ years Of age.
$500; for each additional person who
is actually supported by and entirely
dependent upon the taxpayer for his
support. 5000. Exceptions shall not
apply to incomes derived from sources
within the state By uon-rcaidents.
corporations or co-par;nerships.
The incomes Of state. national and
mutual savings hanks. trust com
panles. building AID loan associa-
tons, religious. scientific. educational.
benevolent or other corporations not
Organized for peculiarly profits are
exempted
Incomes derived from property and
privileges by persons now required
by law 90 pay taxes or license fees di-
roctly into the treasury az tho state
ln lieu Of taxes are exempted. g.. are
also incomes derived by the Emitted
stateg. the state and all counties.
ciucs. VILLAGES, school districts or
other political units Of the state.
The Computation.
The bill provide. that the tax shall
b. computed AZ tho following rates.
on tine first one thousand dollars
.ot taxable income or any part thereof.
az the rate of one per cent
on the second one thousand dollars
or fraction. one and one fourth per
cent
on the third one thousand dollars
or fraction. one and one-half per
cent
On the fourth one thousand dollars
of fraction. one and three-fourths per
cent
on the hnh one thousand dollars or
fraction thereof, two per cent.
on the sixth one thousand dollars
or fraction thereof. Two and one-half
per cent
ON the seventh one thousand doilars
or fraction thereof three per cent
ON thH ,irHIh ON. thousand dollars
or Traction thereof three and half
per cent
ON The ninth one thousand dollars ~
traction thereof -four per cent
ON frs tenth ON. thousand doIIars
or fraction thereof. four and one.half
per cent
ON fHe eleventh ono thousand dol
Iara Dr fraction thereof. 1--WE per cent
on 'Hr fwr'rt ono thousand dollars
or fraction thereof nga and orr.faIf
per cent
ON amy taxable income boo excess rr
twelve thousand dollars. .ir p.- cent