The Oklahoma City times. [volume] (Oklahoma City, Okla.) 1908-1984, 1917-10-12

"" wa l'N'lu' Jaw Alal phN''f
congress and became a law October q
imposes income taxes in addition to the
existing income tax law Ii reduces
the minimum Of incomes taxable from
5000 to $1,000. IN the case Of a single
person, and from $1,000 10 5000 IN
case OF a married person a Surtak
iS imposed on all incomes Of over
SS,UO The Surtax under the new act
grows heavier as the Incomes increase.
An excess profits tax i, included IN
this act that is intended tn reach in
comes derived from war simulated IN
d%ustrieS and comparisons with earnings
during the three wears preceding 1914
The new tax on beverages bears on
both alcoholic and non Intoxicating
drinks 1t is to be paid by the manu-
~faCturcrS
An increase is made in all taxes on
cigars, tobacco, cigarctS and manuiac-
lures Of tobacco The tax IS paid by
the manufacturers for the most part,
but stocks on hand are taxable 10 those
having them IN possession
There is a considerable tax on trans.
portalion Of freight and passengers
This tax il paid by the person paying
for the NcllitlcS Of the carrier, bat is
collected by the carrier. II affects
sleeping and passenger cars as well a.
transportation THIS title also imposes
a tax on the issuance OF most forms Of
life and other insurance policies II
viii become effective November |
The new war excise tax IN this act
affects a large number Of articles used
for pleasure and amusement. toilet ar
t%iclsS, patent medicines. proprietary
prenarations and the like
There ls.a tax on admissions to
places Of amusement and on dues TO
societies and clubs This tax is to be
paid by persons purchasing such ad.
missions OF paving such dues and to be
collected by the persons selling the adj
missions or collecting the dues. II will
become effective November |.
A long schedule Of war stamp taxes
affects the execution " documents.
Thu, tax will become effective Deem
her |.
An inheritance tax is covered hy a
schedule IN the war revenue measure
that reaches estates as small as $4,000
ike the income tax, this is IN addition
to existing taxes
Postal rates are increased on letters
from , TO ! cents, effective November )
Rates OF postage m sccond-claSs matter
are advanced by zones and by years.
A summary OF the bill as 1t became a
law follows:
The act 10 provide revenue 10 deffay
war expense as passed October q adds
an additional income tax to that now in
force. the new tax being applicable for
the calendar year 1917 and thereafter.
In addition to the normal tax under the
act Of Sept \. 1910. the present law
there is imposed a normal tax Of :
percent on the income Of every lndl-
vldual. citizen or resident in the United
States. In addition to the additional
tax " surtax imposed by the present
: law a like additional tax is placed upon
incomes as follows
One pereen, p O the amount Of the
net income above 5000 but not exceed.
ing $500.
Two percent upon the amount Of the
net income above $500. but not exceed
lng $1,000.
Three percent upon the amount Of
the net income above $1,000 but not
exceeding Sl2.SW
-Four percent upon the amount OF the
ne, income above Sl2,SW, but not es.
cecding $4,000.
Five percent upon the amount ol the
net income ohove $4,000, but not ex.
ding 10000.
Seven percent upon the amount OF
the net income above SdUU, hut not
exceeding $+OuN
Ten percent upon the amount OF the
net income above Sl0.GN, but not eN'
!. eeedrng 5000
Fourteen percent upon the amount Of
; the net income above $4,000, but no,
/. exceeding $4,000
. Eighteen percent upon The amount o'
the net income above $4,000, but MI
exceeding 100000
, Twenty-Five percent upon the amoun'
. OF the ne, income shove $4,000, bu'
. not exceeding $4,000. .
. Twenty-Five percent upon the amount
I. Of the next income above $4,000, bu'
no, exceeding S2SO0W
Thirty percent upon the amount q
|. Of the net income above S1O,OOO. bu
exceeding $4,000
Thirty four percent upon the amour
. the net income above S1S.pn, but no
. exceeding 5000 W
Thlrt, seven percent upon the amour
oi the net income above 100000, bu
. not exceeding $4,000
Forty percent upon the amount OF III,
net income above $4,000, but not eN
cccdrng $4,000
Eorty-ijvc PERCENT upon the amoun
, VI the net income above SSOn. bu
. not exceeding 81 Oo0pU
Fifty percent upon the mount oi IN
> ne, income above 81 0cNOn
Go Re Continued SATURDAY