Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1917-09-30
.CONFEREES REACH, / q
final AGREEMENT i:
ON WAR. R. .T'|A!I.XB'.II,l|| | \. ! !. ] |
Measure Will Be Presentsd
to- House. on bis as.sss
Monday. esse.sis rs;
INCOME TAX sEcIIo Nsnaass,5 s q ! .sas s,i
VIRTUAL Z u CHANGED
New System to,f calediaAhE Exs
cess Profits One ots as,s
Added Sections e Z fs9 2
Exo1sEs ON MOTOR vEfifotas
t4- ~ tiies Efsstle 9, = Z ssu5 q $4,srs sa33s
Different Rates Provided for RasdtHE
and Advertising Matter tnss %fos
Publications: tassl l.ssatssts IA I !. I
q - 4 - y -
INCOME TAX sEcTIO ONsaanssy ! 4 & q sas
VIRTUAL Z uN yGED
Bxo1sEs ON MOTOR vnIaicI!lhs y. J
Different Rates Provided for RaaafHS
and Advertising Matter tnss ri
Publications: saSs lsss.i Is.s tsst. e
ray Associated PressJ

l
| WASHINGTON, SsptembeS 2ArS&tn8f
agreement. on the 80, 7oo. .ooo. 900 vaSsstaS
| bill was reached; lato- to-day ~ nthe
Senate and House oonfers zee, and : tha
report will be presented to sths, AeusE
on Monday. Levies Of ApproxiHnatalX
| o0.000.ooo on war ;oxeesBy p1pAts xaAA
$sI2.ooo.ooo on incomes were E1sktfSnf
changed. but q new systefn scf cslrulaE
ing excess profitsswass adopted.
The conference reports provides that
the graduate tax OF from 20 Ia &c cnAS
cent on excess profts rof oorp1ratinns
partnerships and individuals sflailRhs
levied on q basis OF invested capital,
compared with invested capital aofotifS
three prewar years of 1911: 1914, 1sta!
This Is a substitute for the 5enatS tsxSs
Of from II to copper cont based dpoiss
similar comparison OF prewar add 9fsss
ent profits ~. - sytys+
Tho income tax sectien virtually ~ ~
unchanged except for. reaFEAnEensmS
OF surtaxese on incomes sbetWaens BE- .o1H
| and 10000. - Tho sr&duatsdt NlyAxAs
OF from 4 to 80 per cent on inconnse
from $4,000 to, those. OF q. o1o, oots saa4s
over were approved gs72 saSHs .turssss.
Tho Senate increase OF from y tSeIl.
per cent OF tho income tarsoni c6frofAs
tions. Joint stock companies. and SinsffI..
ance companies was approved, sto3SthSr.
with the now normal individaif rf&Iss6e
2 per cent, on incomes OF 'unmaffiSd
persons in excess OF ~ 900 and, bf. msiifg
ried persons OF more than $4,000. .fts''issss ~
GRADUATED EXCESS sei,yFa s-S
pRoFITss slsAFKa.
Tho graduated excess pronts eratSa
arc. 70 per cent of excess .psentse
In excess Of 10 per cent OF the Is
vested capital FOR tho taxablessysEff;
26 per cent on profits in excess OF SiS
per cent and not over 20 per cent sof
such capital: s5 per cont on excess
over 20 and under 25 per cent OF capiy
tai; IS per cent on excess over 25 per
cent and under 81 per cent OF capital
and a maximum Of 80 per cent 81,
profits In excess OF 80 per cont of such
capital. S.ss
In calculating war excess profits
the term Invested capitar' OF corr
porations and partnerships was dss
clared to include actual cash paid III
actual cash value Of other tanribIs
property paid for stock or shares nj
the time of payment or January 3s
1914. but in no case to- exceed. thespsE
value OF the original seeurities: !: spaif
In or earned surplus and uHdfvidsAs
profits used or employed in the bBst
ness, exclusive OF undivided pront
earned during tho taxable year. Sc
The allowances for intangible aasstE
include actual cash value. of spAtsntS
and copyrights. paid In for stock or
sharessa at the time OF psyment t4acsd
VIII, trademarks. trade brands,.,Srap-
chises-if for bona fde paym ts not
tn o.y, - nj y 4
It stipulates that such fdntatiribis
assets exchanged for securities5 be-
fore March 8, 1917. not exceeding 40
per cent OF he3total,. shaifs he ;incuaed
at a value not exceeding q fair2chsh
value at tho time. OF purchaao s5,;5
NEW ZONE SYSTEM Y. . - ~,
EFFECTIvEs Nnax.gs yrcI!x MI
In lieu OF the, House 4zone SaSSss 81 luS,, AZ
second-class publications. the cof,ferSXE
include new zone system, effective
July 1. 1918. with different rates foS
reading matter and advertisfnEs smaffSft
with special but Increased. rates for
locations. 5 sTst g = sT9sssss
A fiat increase on reading mater az
IL OF q cent per pound until Julysl
1913, and 1-2 oent thereafter was nraS
vided. Advertising matter sxcAsdiSH
per cent OF the TOTAL space wy,ooiuid Ehs
taxed from 1-4stor2f-4ycents additional
until July !, 1919. and fronlgl 20 I'D sx1.z
cents more until July i, 1890; ana ffoin
S-+ cent to s 3-4fcents to- Sa1. and frrsnsa
cent to 8 cents thereafter. 81 s'Ss
An additional tax OF 1 q cent NAV
pound until, July /, 81 and ia; cont
thereafter on religious AgriauIkufHK
fraternal and similar publications. swaa
adopted. The 1-cent tax ON Ietterss
excepting drop letters, swaS rxxtSiSx
by the confereessS A s1acent8 daitiorai
tax on postal and private ms ailin 3 asrdS
was added. The first-oIass fnaib fas
creases are estimated to raise abont
SsO'O00.000. and. are effective thirty
days after the passage of The aof. a1,fi2
Senate provision exemptins from sTaSfs
age letters written, by 9sSIdie ~ sF;6
sailors abroad was retained.n l.s. ySs
Tne confereea leviedgs per eeafsssM
lieu OF the Senate rate otYBa andAfSf
house rate OF 10 per cont. onppasssHx
ger transpoi tatfon.t estimating tos r4tsS
from tho compromise. levy about 4sef
ooo'ooo, instead. Of $4,000, 900 under tho .
senate plan. Tho par dentatAx4nSt
freight transportation I iwaa yStstns1S
ana the tax on express; ;trAHspostatlei
was Increased 81 that = cent wsatS
bs levied on each 40 cents raid
stead Of each as cents Ths HopsM
70 per cent tax on Puilmfn aSpSnspss,
dations. cut g. + :rsf cent hxsShS 49,
ate. vas r rs.sorsd. e a ana g
In lieu Of me HOUSE psr & s,sa osat ssi tsS
on sales of su.eno q g blsss y