The Hartford herald. [volume] (Hartford, Ky.) 1875-1926, 1916-09-20
REVENUE BILL IS
NOW INTERESTING
Where Burden of Pay
ment Will Fall
UNDER new MEASURE ADOPTED
Incomes, Corporations, lnheri.
tance, Munitions, Spirits,
Amusements, Etc.
A RECENT ACT OF CONGRESS

! by Congress Just before adjourn
ment, and which was signed by the
President on the last day of the SEES
sion, has resulted in the preparation,
officially, of a summary of the main
new features of the bill, which
should be of much interest. The
summary touches the subject on
which tax increases are based.
The features of the bill are as fol-
lows:
Income Tax-Normal income tax
increased from l to per cent. EX-
emptions allowed on incomes of 49,
600 for single persons and $4,000
for married. Additional tax levied
on incomes above 100000. incomes
of 100000 to $4,000 taxed 3 per
cent; $4,000 to 100000, 4 per
cent; 100000 to $4,000. per
cent. Graduated scale levied to 10
per cent. on incomes between $780,
600 and 100000.
Corporation Taxes--Net income
tax raised from l to per cent. APP
pres 70 ali corporations, joint stock
companies, insurance companies, but
not partnerships.
Corporations, Joint Stock Com
panies, notwithstanding cents
for each $1,000 of capital, surplus
and undivided profits, including in
vestments. Exemption of $4,000
allowed.
Inheritance.-Nete estate of dece-
dent, whether a resident or nonres-
ident, is taxable as follows: Net
estate not in excess of $4,000, l
per cent; to $4,000, 2 per cent;
up to $250,OOO, 3 per cent; up to
$450,0O0, 4 per cent; UP to ST.
100000. ) per cent; up to $4,000
600 6 per cent; up to $3,000,000
per cent; to 100000, 8 per cent;
to $5.0OO,0O0, 8 per cent: exceeding
100000 10 per cent.
ns.-Manufacturer of ex-
plosives, shells, torpedoes, firearms
of any kind. small arms, electric mo-
tor boats, submarines, taxed Il per
cent of entire net profits.
Spirits.--Beer and other similar
fermented liquor, $50 a thirty-one
gallon barrel.
Wines.-Still, 8 cents gallon;
terrifying wines, 50 per cent gallon;
champagne or spreading wine, 3
cents on each one-half pint or frac-
ton; artificially carbonated wine,
Y cents each one-half pint or frac-
ton; other liquors. cordials or SINH
lar compounds. three-fourths of !
cent TO a cents each one-half pint
or fraction thereof.
Brokers.-Stock brokers, $40;
pawn brokers, $50: ship brokers,
$50; custombouse brokers, $40.
Amusements.--Theater proprie
tors seating capacity $50 or less,
S25 seating capacity. 250 to 600.
$50; 500 to 500, SIS; more than
500. 500. In towns of 5000 or
less inhabitants the payment Is one
half the above. Halls or armories
rented occasionally are exempted.
Circus proprietor, 500. Other
shows for money. SO, excepting
street fair. tax is 500. Exemp-
tions chautauquas. lecture lyceums.
agricultural or industrial fairs, eX-
hibitions under auspices of religious
or charitable associations. Bowling
alleys, billiard rooms Except in pri-
vate homes), S. for each alley or ta-
BILE.
acco,-Tobacco, cigars. eiga-
rette manufacturers Manufactur-
ers' sales less than $4,000 pounds.
So: up to 100000. So; up to 2O0.-
O00, $l2; exceeding 20O.00O pounds,
cents per 1000 pounds. Cigar
manufacturers, sales under $4,000
cigars, so; up to 100000, SO; up to
100000. SO; up to 100000, Sl2;
exceeding 100000, 3 cents per 100.
900. Cigarette manufacturers. tax
8 cents per 10000 cigarettes.