Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1916-03-14
ECHOES OF The
LEGISLATURE
Revenues Of the State Have
Been Increased by New
Laws s85o,O0O
TAX ORDINANCES
Constructive Session of General AS
sembly Will Be Held Tomorrow tc
Close Up Business

Richmond, March 14.--Clcrks at
the Capitol are busy enrolling bills to
be presented to the presiding officers
of the two branches of the General
Assembly when the constructive ses-
sion is convened tomorrow morning.
Onlv a few members of the Leglsia-
ture will attend these sessions. NO
/ business will be Transacted, the ses-
sion, which will probably last until!
(! the end of the week, being given eX-
| clusively to the signing of bills al
ready passed.
Colonel John w. Williams, clerk
Of the House of Delegates, said yes
terday that, rs we'll as he could es-
innate il. about 400 bills had been
PASSED. Probably 500 or a thousand
bills were defeated. mary of these
being smothered in committee or dy-
ing on the calendar.
Practically every important 'blll
was given due consideration by the
General Assembly at large and either
passed or defeated by roll call. Near
" all Of the so-called reform bills
were enacted. The tax measures IN
tended to further strengthen and per-
feet the segregation plan were pass
ed. though Jhe recommendations OF
n.,.c IT,: .sdsa;sory Roa1ti we're an'E
partially accepted.
These bills. without increasing tax
cs above the taxes Of 1913 ana 1914,
will, it is estimated, increase the an
nual revenue of the State by some
$3.50 900, completely eliminating al!
! danger of treasury deficit.
Virginia merchants will continue
to pay. taxes on the 1915 rates. but
the law requiring them to make 4
sworn statement regarding their pur-
chases will add about $3.50, 900 year
to the States income. The 50 tax
on merchants doing an annual bust
ness of less than $1,000 IS retained.
The recommendation OF the Tax !Ad-
visory Board to increase the tax from
20 cents 10 80 cents on purchases up
to 100000 was not accepted. the 20
cent straight rate being retained.
Bank stock will be taxed as here
tofore. Under the segregation plan
it was originally intended to give the
State 80 cents Of the total Sl.50 tax
collected, BY compromise, however,
the direct tax was out to 30 cents"
The Tax Advisory Board suggested
that it be raised to 30 cents, but the
recommendation was rejected.
Capital invested in business will be
taved > cents more on each 500. but
loans running for not longer than six
months will not be taxed at all. I'm
der the old rate the State tax on
capital invested in business, including
borrowed capital, was 50 cents. The
Tax Advisory Board suggested that
the rate be increased TO 80 cents, anc
that only net capital be taxed. The
rate was made 70 cents, with loans OF
over six months exempted.
The mortgage tax bill recommend
ed by the Tax Advisory Board was
defeated. This bill provided for an
initial tax of 30 cents 500 for each
wear of the life of the bond, the tan
to be paid upon recordation.
Heat light and power companie:
will pay more taxes under the ne"
rate. The recommendation of the
| Tax Advisory Board was that the
franchise tax upon their gross oper
ating revenue be incrca: ed from one.
half of per cent to per cent. \
, compromise rate of three-fourths o!
l per cent. was established
Probably the largest part of the
total increase in State revenue vii
be paid by public service corpora
tions-rairoads. The tax rate wa:
i Is per cent. of the gross income
At this rate the railroads last yea1
1 paid into the State treasury abou
$685. 900, this being the tax on busi
, ness amounting to some s60,OOo.0Oo
This year the business of the road!