Weekly journal-miner., 1917-10-24
OF WAR TAX BILL TOLD
 BY HAYDEN
CON GRE SSM AN VISITS PRESCOTT ON HIS WAY HOME AND SHEDS LIGHT ON WORKINGS OF BIG REVENUE MEASURE.
(From Sunday's OaiIy)

Mir Hayden states that the session was one of the busiest as we'll as one of the most important ever held. The atmosphere of both the upper and lower houses was so highly sur charged with the war spirit, that to- ward the last it was almost impossible to get the attention of either body di
 rcctcd to any matter which did not deal directly or indirectly with the war
 One of the most important pieces of legislation which was recently en- acted was the war revenue bill. This law Is of special interest to the resi- dents of all parts of the nation in that it contains the provisions whereby the incomes of most of the wage earn CTS will be taxed. As the provisions of the new law are not very well un- derstood at the present time, the ' Journal Miner asked Mir. Hayden foi some definite data regarding the workings of the law, and the con grcssman's answer in explanation of the matter follows:
 The normal tax of per cent is doubled for citizens and residents of the United States and as to the addi- tional per cent the personal cx- cmptions arc 5000 and Sl,000 re- ! spcctively for single and married per
 sons, with S200 additional exemption for each dependent child this exemp- ton on account of dependent chil drcn is also allowed in connection with the exemptions of S3,0OO and l S4,00O for the existing normal tax. Returns of net income are required ot single persons who have $l,O0O and married persons who have S2,0OO. Additional Taxes: Surtaxcs, addi- tional to those already in existence, begin with per cent on net incomes between S5,0G0 and S7 500. increase by 1 per cent by steps fixed in existing law to ; per cent on ,000-$20, 900, by } per cent from S20.000-S60, 1000, by I per cent from S600O0 to S150,000, arc g per cent on 50,0O0-S200OOO, 30 per cent on S200,O00-S250,O0O, 34 per cent on S250,0O0 to S300000, g per cent on S300.000 to $500O00, 40 per cent on 50O.OOO-$750.OO0, 45 per cent on %50.0OO-Sl .0O0,0O0. and 5l. per cent on net income in excess of Sl,000O00
 Alterations In Law: Changes made in the rye cnt law under which indi- vidual income 'ax is collected include nonresident aliens are not allowed personal exemptions from tax: divi- dcnds received from earnings made before March l, 1913, would not be taxed, provided distribution of divi- dends earned since March 1, 1913, has been made. Dividends paid in 1917 or subsequent years would be con sidercd income for the year in which received: they are to be deemed paid from the most recently accumulated surplus and taxed to the distributce at the rates in force for the years when accumulated. Interest and cx- cess profits taxes and the interest up- on money borrowed to invest in tax free securities may not be deducted from net income, but in assessing in- come tax net income might be cred ited with war profits taxes assessed in the same calendar year. If part ncrship uses a fiscal year different from the year before and after Janu arv 1, 1917, and the parts subjected to taxes at the rate of the different years. Gifts made within the year 10 Charit ablo institutions might be deducted from net income ii not in excess of Is per cent thereof, under regulations by the commissioner of internal rev onuc.
 Insurance.
 Effective November 1, 1917. the bin l proposes the following taxes on the l issuance or renewal Of insurance poli- | cicS: for life insurance $ cents for l each Sl00 of insurance, ton policies | of less than $500 issued on the week | ly payment plan the tax would be 4O | per cent of first weekly prcmium): on marine, inland and fire insurance, the | sax would be l cent on each dollar of l premium charged, and on casualty in surancc l cent for each dollar of ! premium tcxccpt in the case of in dcmnity bonds taxed under another | titlc.) Policies of reinsurance of all | the foregoing classes would be eN. | cmpt from tax under Title l of the | act of September &. l9l6,-c. g., fra tcrnal benefit societies operated on the lodge plan, mutual companies operated for the benefit of members and without prout, etc.
 On all of the foregoing taxes. monthly returns would be required under oath for purpose of assessing tax duo: returns as to insurance com panics would have 10 be made within the first Is days of the month
 Tax On Admissions and Dues.
 Effective November 1. 1917, the bin imposes tax of cent for each 10 cents or fraction, of admission charG cd by theatres, moving picture houses twhcrc the charge for admission is more than ; ccnts) and cabarctS, the tax to be paid by the person paying for the admission. Dcadhcad admiS- Sions .(eNccpt bona idle municipal of- iiccrs on business. employees and chil- drcn under l2 ycarS) l cent for each 10 cents Of admission ordinarily charged. The tax would not apply to admissions charged by religious. cdu- cational and similar performances, the proceeds oi which are devoted to