The Grangeville globe. [volume] (Grangeville, Idaho) 1907-1922, 1917-12-06
TAX FOR WAR
REVENUE in
FORCE
Levy Aimed TO Yield 100000, 900
Proposal for Federal Manufac-
ture Of Narcotics.

Washington, Dec. 1.-The war stamp
taxes counted upon ny treasury off1c-
ials to produce $100,00000 annually
as part Of the great revenue measure
enacted by congress last October, be-
came effective today.
From the beginning of today's bust
ness hours every banker, exchange,
| clearing house and person engaged In
stock. produce or merchandise trans
actions must keep strict account Of
the taxable dealings. The rev.
enue bureau has issued comprehensive
regulations to govern the collections.
The taxes do not apply to bonds. notes
or other Instruments issued by the
United States, by any foreign govern
ment or by any state or similar gov
ernmental subdivision, or to stocks
and bonds Of cooperative building and
loan associations. operated by or ex-
clusively for their members and loan
| ing only to their stockholders or to
mutual ditch or irrigating companies.
The taxes include: Indemnity and
surety bonds, so cents, except where
premium is charged for execution of
the bond the tax will be percent
on each dollar Of the premium and
reinsurance policies are exempt.
Capital stock issue, cents on each
800 of face value; sales or transfers,
cents per 500; produce sales on ex-
change or agreement for future de-
livery" 2 cents per 800 or fraction
over 800.
Drafts or checks payable other
wise than at sight or on demand,
promissory notes, except bank notes
issued for circulation and for each re-
newal," cents per 800, deeds and
conveyances, 80 cents per $1OO-5OO and
30 cents each additional $500, with all
debt paper exempt.
| Custom house entries % cents per
800 to 81 per $500; Withdrawals, 30
cents: steamship tickets, 81 to So
election proxies, 10 cents power Of
attorney, 25 cents.
| Playing cards, cents per pack, In
addition to present 2 cent taxes; par
eel post packages, / cent for each %
cents charged.
New Taxation Proposals.
Reduction Ct the 10-cent pound tax
on colored oleomorgarine, both as
war measure to increase the produc-
ton of food fats and as a means of
actually yielding more aggregate rev.
enue, was recommended in the annual
report Of the internal revenue bureau
issued today over the name of w. III.
Osborn who recently has been sue
ceeded as commissioner by Daniel
c. Roper.
Another suggestion promoted by
war conditions was that the govern
ment shold assume control Of the
manufacture and use of narcotic drugs
needed so greatly for Red Cross work.
The report cited the $809, 1893, 900
internal revenue receipts for the fis-
cal year ended last June 80 as "the
largest in the history of the bureau"
but pointed out that even that record
would be broken by the estimated re-
ceipts for the current year under the
new war tax law of $3,4OO, OOO,O 900.
The greatest source of taxation was
distilled liquors, the production of
which showed a marked increase de-
spite the extension of prohibition ter
ritory.
Last Years Internal Revenue.
The principal collections last year
were as follows:
Distilled spirits, $1S7, 2SS,000; fer
incHtcu ilQuOTS, POl,O0f,UUO, lHulNtuudf
income tax, $3.50, 1OS,00O; corporation
income tax, $179,539,0OO manufactur-
ed tobacco, $1O2, 100000; munition
manufacturers tax, now discontinued,
$27, 663, 900: miscellaneous special
taxes. $23,371 900.
New York led the states in amount
of tax collections with $190,0O0,00
Illinois was second with $SS,Q00,000;
Pennsylvania third with $50 900 ;
The smaller collections came from
Nevada, Wyoming North Dakota,
South Dakota, Idaho and New Mexico,
i'm the order given.
Based on receipts in July, August
and September this year, revenue for
the year ending next June 80 is esti-
mated at $3,400, 100000. classified as
follows: Excess profits, 81 .266, 000, 900 !;
incomes. $1,201 100000, Including
$666 100000 from individuals and
$685.. 10000 from corporations other
new war taxes. 1927 100000 and ordi-
nary collections from old sources,
such as liquor and tobacco. $445. 000,-
600. For the year ending June 80.
1919, revenue receipts under the pres
ent law are estimated at $3,425, 600
600.