The Richmond Virginian. (Richmond, Va.) 1910-1920, 1916-07-02

under NE prsseut - Two per c4nl II
rets4nA however, the exsmpeDon Of
$4,000 = ysAr incomes for ans1s per-
sons and u. q year Of married per-
sons. The surtax rates are largely In
Creased b. . system OF re-ciassinca-
tons which lowers the amount upon
which the variouS percentages Of sur
tax must be paid. Under the present
law, q surtax is added to the basic
rate OF one per cent as follows:
Surtax Provisions.
One per cent on incomes that ex-
coed $4,000. and do not exceed $780,
900. Two per cent on incomes in ex-
cess of $4,000 and not in excess Of
$4,000. Three per cent on incomes
in excess Of $4,000 and not in
excess of 100000. -FOUR per cent on
/ Inc ONES In excess or $1,000 and not
! in excess of $250.000. Five per cent
on incomes in excess of s250,o0o and
not in excess Of 100000. And six
| per cent on incomes in excess of
100000
Under the proposed law the sur
taxes to be imposed in addition to the
normal rate of two per cent are:
/ One per cent on incomes that ex-
coed $4,000 and do not exceed s4o.-
| 600; two per cent on incomes that
exceed $4,000 and not In excess of
! 100000: three per cent on incomes of
! 5000, and not in excess OF $50, 900;
| four per cent on incomes in excess of
| $780, 900 and not in excess OF 800, 700;
| Ave per cent on incomes in excess Of
| 800, 900 and not In excess of $780,
| 600; SIX per cent on incomes in excess
of $4,000 and not in excess of
| 5000. 0o0 seven per cent on incomes
! in excess of $500, 600 ana not In excess
| of $3.50, 900; eight per cent on incom es
In excess Of s25o,0oo and not in ex-
cess Of $500, 900; nine per cent on in
comes in excess Of 100000 and not
in excess Of $500 900; ten per cent on
| incomes in excess of $500, 900.
The Munitions Tax.
The munitions tax will be imposed
a. follows:
| Manufacturers of gun powder and
other explosives, except blasting
powder and dynamite: Five per cent
Of the gross receipts not in excess or
sI.ooo,o0o: eight per cent Of the
amount by which such receipts exceed
100000.
Manufacturers of cartridges, caps.
pro1ecttles, shells. torpedoes. shrapnel.
! firearms or any of their parts. two per
cent OF the gross receipts exceeding
| $3.50, 600; three per cent of the gross
receipts exceeding s250,o0o and not
I exceeding $500. 900; four per cent of
( the amount Of gross receipts between
! 100000 and 81. 900. 900; five per cent
/ of the amount by which gross receipts
exceed 100000.
| smelters. refners and alloys Of cop
per: One Der cent ON gross receipts
| between s25o. 900 and 100000; two
per cent on receipts between $1,000, 900
; ana sto,e1o.o8e: three per cent on
/ the amount by which receipts exceed
$4,000, 900
/ The munitions tax would not be
collected. under the bill. In cases
where the net profits on the gross
receipts would amount TO less than
10 per cert In cases where the pay
rnsnt Of sfse tax would reduce the net
Profit below 10 per cent tho amount
TO be collected would be only the net
profit IN excess Of 10 per cent
Inheritance Tax.
The Inheritance tax In arranged
upon a graduated basfs. All taxes
would be assessed upon the "nccst es-
tate" to be determined by deducting
funeral expenses and an exemption OF
$50, GOO from the gToss amount BE-
qusathed The rate OF taxation would
DO az follows:
One per cent on The amount Of net
estate less than $50, 0oe; two per cent
OF the amount by wastoh the net es-
tate exceeds $4,000, and does not
exceed $4,000: three per cent Of the
amount between Sis0, 600 and $3.50
600; four per cent OF the amount be-
tween s2co. 900 and $4,000, nwc per
cent OF the amoun@ by which the net
estate exceeds $4,000.
! As TO Protecting New Infant
The dye-stun protective section pro-
vides u general reolass4ftcaton Of the
coal tar bases interim edfaces and fin
ished dye-st11ffs. with . graduated
scale from the free list on bases 70
80 per cent ad vniorem on finished
dye. Then tho lay would impose Q
spscfaS tan OF Sit cents per pound
on ne intermediate and seven cents q
pound on finished dyes for q period