French Broad hustler. [volume] (Hendersonville, N.C.) 1916-1919, 1917-10-18
nrp,RE SUMMARY OF OF,a,o,rs
'Rbf N"| WAR TAX PROVISIONS.
xov Law Will Affect Individuals
How NE" Emsiness Set Forth COncisely

,..+nsviile. Oct. 16-In view of the
STA rhe general public does not
act l,:,,, ,:, IN read in it's entirety, the
aye 'il-l nhases of the war tax. re-
ilnVLo- nassed by Congress, from
FenlE + IS expected to raise large
Eh0l The money with which to carry
aIt .So y, war, the treasury department
m ns had brief summary OF the law
as asnared which gives brief, al
lspgb understandable synopsis OF
~ Tarious laws which will affect the
lS Ella especially those who are doing
sOR,es oiness in North Carolina. The
Dusirci Snnsis had been put in the most
ynoct syLUrt form possible. The laws
cTuhL Hiah affect North Carolina business
VIZ n mostly are as follows:
DeT W. TAX on beverages: Unferment-
rrano iuice, soft drinks or, artifi-
Sa u, mineral water (not carbonated)
'laI nd formented liquors containing less
@nu La, one-half per centum Of alcohol,
ner gallon. cent.
p' Nsfural mineral waters or table
uotprs, sold by the producers or i'm
"ortpr at over 10 cents per gallon, i
cent per gallon.
Carbon acid was in drums or other
oontainers intended for use in the
uanufacture of cardonated water, or
n+ber other drinks, 5 cents per pound.
War tax on facilities furnished by
nnb1ic utilities and insurance:
TRANSPORTATION of property as
freight by rail or water or by any
her form of mechanical motor pow
n etc. 5 per cent. of the amount paid
therefor.
transportation of parcels or pack
ages by express over regular routes
between fixed terminals for each 20
cents or fractional part there paid,
i cent.
transportation of persons by rail
or water or by any other form of me-
chanical motor power, etc., 8 per cent
of the amounttherefor.
Seats berths and stateroOms in
parIor cars, sleeping cars, ron YES
sells 10 per cent. of the amount paid
therefor.
transportation of oil by pipe lines,
) per cent. of the amount paid there
for.
Telegraph, telephone or radio mes
Sages for transmission of which a
charge of 15 cents or more is made,
) cents each.
Life insurance, on each $100 or
fractional part thereof, of face policy,
s per cent. (a) On policies not in ex-
cess of $500 issued on the industrial
plan. 40 per centum or amount of first
weekly premium of amount of first
fire insurance, per cent. on each
81 or fractional part thereof OF pre-
MUM paid. Casualty insurance. I
per cent on each 81 or fractional
part thereof of premium charged.
War excise taxes; (a) Automobiles
and automobile trucks, automobile
wagons and motorcycles, per cent
of price for which sold.
(b) Piano players, graphophOnes
phOnograps, talking machines, and
records used in connection Herewith
per cent. of the price for which sold
(c) and I'D Negative an dpOsitiVe
moving picture films IA and IL cent
per foot, respectively.
(e) Jewelry, real or imitation. 3 per
cent of the price for which sold.
(f) Sporting and amusement de-
vices, 3 per cent. of the price fOI
which sold.
(g) Perfumes, cosmetics, ttc., 2
per cent of the price fO (which sold.
CHI Patent and proprietary medici-
nal preparations, ETC.. per cent, OF
the price for which sold.
ID Chewing gum or {. substitute
therefor, 2 per cent of the price for
which sold
ID Cameras 3 Der cent of the price
~, hn oh
Paragraph apply to wholesale dealers
only.
War estate taxes: Transfer of net
estates of persons dying after Octo-
Der 3, 1917, a per centum tax accord
ing to classification of section 201
act of September 8, 1916. as amended
BY act of March 8, 1917, plus addi-
donal rates provided in section goo
Of act of October 8, 1917.
Excess profits tax: (act of March
3, 1870 Domestic corporations and
Partnerships: Net incomes, less eX-
emption of $5,000.00 plus per cent
Of capital invested, 8 per cent tax
Foreign corporations and partner
ShlS: Net incomes. less exemption OF
deduction according to capital In
vested Or proportion Of source of net
incomes, 8 per cent. tax.
War excess profit tax: On amount
OF the net income in excess of the de-
auction determined as provided fol
IN the act) and not in excess of Ii
per centum of the invested capital fol
tne year, 20 per cent.
In evcess of Is per centum and not
exceeding 20 per cent. 25 per cent.
In excess of 20 per centum and not
exceeding 25 per cent, 35 per cent.
IN excess Of 25 per centum and moi
exceeding 3S per cent, 45 per cent.
In excess of 33 Der centum Of sucf
E, invested capital, so per cent
On amount of net income in excess
o1 deductions (as provided in section
aOSl in the case Of trade or business
!.n.clu6lng professions an doccupa'
tlons having no invested capital ol
Hot moer than a nominal, per cent