The Nevada County picayune., 1917-10-11
CONGRESS MAKES LEVY AT s27 FUR EVERY MAN, WOMAN AND
 CHILD IN THE UNITED STATES
Excess Profits Revenue at B on and Incomes at Nearly Much Remain Practically Unchanged by Work of
 The C0nferees.
VIII Of the New System of Graduating the of
 HeVed 0 Be Devise

ties and manufacturing sales section and the new inheritance taxes.
 With but few exceptions, the new taxes are effective with the passage of 1 the act
 Senate Version Stands. The income tax section was adopted | virtually as written by the senate. The new per cent normal tax on incomes of more than $2,000 for married per sons and S1.000 for single persons is In addition to the present law exempt ing incomes of less than $3,000 for sin gle persons and $4,000 for married per | sons. Thus those between the new low exemption bases and the present ex- emptlons will pay only the per cent | tax, but single persons having an in- | come of S3000 or more and married | persons whose income is $4,0O0 or more would pay the full per cent normal tax.
 The senate Income provision allow Ing an additional exemption of $200 for each dependent child to heads of families subject to the present law was retained. The exemption for children however, does not apply to those sub | ject to the new reduced taxes with the 1 $2.000 and $1 900 exemptions. respec- | lively. for married and single per l sons.
 surtax Ia Agreed Upon.
 Surtaxes were agreed upon as fol- lows:
 One per cent on income over S5, 900 and less than s7,5o0; 2 per cent be- tween S7500 and s10,OOO; 8 per cent between Sl0,000 and SIP, 800; per cent between SIP, ,500 and S15.O00; per cent between S15,000 and $20,O00; per cent | between $20oO0 and $40.0OO; 10 per Is per cent between SS0,000 and S100,- per cent between $60,000 and $S0.OO0; | IS per cent betwene $S0,OO0 and S100,- GOO; % per cent between $1000O0 and 1 Sl50000; 9 per cent between S15O,OO0 and S200O00; 30 per cent between i S200,000 and s250000; 34 per cent be- tween $250,000 and S300,000; 37 per cent between S3O0,00O and $500.0OO; 10 per cent between $500,000 and S75O,- GOO; 45 per cent between $75O000 and i $l,000,000, and 30 per cent on incomes exceeding $1,000 GOO. Increased Tax on Whisky. Increased senate rates on whisky | and beer were virtually retained, and l that on wines somewhat reduced. The tax on distilled spirits was made S210 l per gallon when for beverage use and $l less for industrial purposes, esti- mated to raise Sl35 GOO, GOO. The amendment prohibiting importation of | distilled spirits for beverage use was | retained. Floor taxes to reach with drawn liquors were approved Beer was taxed $1.50 per barrel additional, 10 raise $460000O0. an increase of 25 cents per barrel over the house rate. Present wine taxes were doubled Taxes on nonalcohollc beverages were compromised On prepared sirups and extracts the taxes gradu- ated from to % cents instead of from 3 to 12 cents gallon were adopted. Grape juice and other soft drinks are taxed l cent per gallon, as l provided by the senate in reducing the original 2-cent rate oe the house.
 Senate rates on cigars and cigarettes were retained, but those on snuff were increased from cents to 2 cents a | pound
 Stamp Taxes Fixed. Stamp taxes agreed upon are:
 Bonds of indebtedness, 5 cents on each $100.
 Indemnity and surety bonds, 50 cents.
 Parcel post packages, cent for each 25 cents of the cost of transpor- tatlon.
 Capital stock. original Issues. 6 cents per sl00.
 Sales and transfers. 2 cents per Slo0. Sales of produce on exchange. 2 cents for each $100 value in merchan- disc.
 Drafts, checks payable other than on sight or demand promiSsory notes, except bank notes for circulation, and renewals, cents for all sums below SlOo and 2 cents for each additional Sl00 or fraction thereof Conveyance papers, 90 cents be- tween Sl00 and $500 and 50 cents for each additional $500. Customs house entries, from 25 | cents to $l entry for withdrawal from bonded warehouses. 30 cents.
 Passenger vessel tickets for ports other than those in the United States. Canada and Mexico, between S10 and S30, ST; between $30 and S60, s3 and 1 above S60, $5.
 Voting proxies, 10 cents
 Power of attorney. g cents.
 Playing cards. decks of not more than 54 cards, an additional cents on the present rates.
 Taxes on life insurance. eliminated from the house bill In the senate, were amended and reinserted. raising about S5.000.0o0. Effective November the new taxes on new insurance pol icies Issued arc 8 cents per $f0O or fracti,n thereof on life insurance and