Evening journal. [volume] (Wilmington, Del.) 1888-1932, 1917-03-14
ONE PER Cent. TAX
ON incomes OF
$1,000 UPWARDS
CONTINUED from First Page

Continued from First Page
the State While some of those who
attended the meeting favored a divi-
sion of the money to be secured from
the bill among the counties, Il was
finally agreed that the funds should
20 as outlined above. There was also
much discussion relative 10 the rate,
some of those at the conference feel
Ing that 1 per cent, was too high and
others believing that it was too
low, but that rate was eventually
agreed on by all the conferees. Il
was felt that with a rate any higher
the bill might be defeated
The only change made from the
original Connolly bill is that the
clause that would exempt stock diu-
dends from tax is stricken out 10
make incomes from that source come
under the taxing provisions OF the BILL
and the fixing of the rate at per cent.
the Connolly bill having specified 1-2
Of per cent.
Much Revenue for State.
IF this bill Is put through both
Houses and signed by the governor
It would place Delaware in a better
position financially than ever.
While It is specified that S250,O00
go to the school fund that would re-
lease the State from the expenditure
of $132, 900 annually from the general
fund for schools and provide an addi-
tonal S11S00O for school purposes,
which would allow many necessary
improvements TO be made in the
school system of the State.
The romainder OF the revenue from
the income tax bill, which It IS esti-
mated would be from 100000 to $780,
600 would 90 TO the State Highway
Commission for roads. The agreement
on the tax bill was also practically
an agreement on the proposed State
Highway Commission bills and it is be
lieved that all will have to be passed
II one IS passed.
Under the highway bill all the auto
mobile license fees now received by
the State would go to the highway
commission. The estimated revenue
from this source at present is about
SIS 900 but It is figured that II the
different bills relating 10 motor H.
censes in connection with the series
of highway bills are passed the reve
nue. this year from that source would
probably be SITS 600. With this money
the State Highway Commission would
be required to take care of the in
terest on bonds issued for buildinl
new roads, maintain the roads anC
take care OF a sinking fund to redeem
the bonds.
Nav Mean Good Roads.
The highway bills, however, Woul'
take away from the general fund
large revenue and TO take the plac'
of this the Inheritance tax bill is ex
pected TO be passed. Il Is estimated
that this inheritance tax bill wouiS
bring an annual income Of from 500,
900 to 100000 to the state. II u
nroyided in this bill that 100000 re
ceived from the inheritance tax Dll
should go 10 the general fund or th'
State and the balance TO the state
sinking fund.
Several slight changes have beer
made IN the inheritance tax bill from
its original condition. The inheri'
lance exemption in the first class
which applies 10 immediate rela'
tives is changed from $4,000 to $4,000;
second class relatives of the families
from $500 to $1,000, and no change in
relative 20 exemption for the third
/ class which are benehciaries not rel
, atiVes.
\ Among those who attended the con-
! ference were Daniel o. Hastings. Jo-
siah Marvel and ]. Frank Alice, the
a special committee named by Governor
3 townsend TO try TO get an agreement
a on a compromise bill: Senators Bar.
n nard, Frazier. Webb, Hart and Hollett
2. OF the Senate Revised Statutes Com
a mittee; Representatives McNabb Con
nelly, Chapman, Swain, Ahern. Down.
% ward and Rash OF the House Commit.
y tee on Revenue and Taxation. ana
e Representatives Peet and Boyce. nool
. leaders of the House.
s All attending the meeting agreed oil
r the terms OF the bill and there seem
, no doubt but that the two measures
the income tax and inheritance "a
bills, will be put through as agreed OF
. it WAS said today
The bill requires all taxahles on
before tho first day Of March, 1915, Al
before March in each year thereaft