Meade County news., 1917-10-11


tax of 4 cent a foot Un motion pic
ture film.
New Inheritance Tax.
A new system of graduated inheri-
tance taxes was written into the bill
in lieu of the house plan and despite
the senate's rejection of such taxes.
The new rates on inheritances, with
those of Americans in military service
exempted, range from ohe-half of
per cent on $4,000 estates to 10 per
cent on estates of S10,000,000 and
more.
The bulk of the increases of between
$250,O00000 and $300,000,O00 made by
the cOnferees In the senate bill was
secured from the postage, public utili-
ties and manufacturing sales section
and the new inheritance taxes.
With but few exceptions. the new
taxes are effective with the passage of
| the act.
Senate Version Stands.
The income tax section was adopted
virtually as written by the senate. The
new = pei NCnl lllul luA Ol ihNOhhNo
of more than $1,000 for married per-
sons and $1,000 for single persons is
in addition to tine present law exempt
ing incomes. Of less than $1,000 for sin
gle persons and $4,000 for married per-
sons. Thus those between the new low
exemption bases and the present ex-
emptions will pay only the 2 per cent
tax, but single persons having an in
come of $4,000 or more and married
persons whose income is $4,000 or more
would pay the full per cent normal
tax.
The senate income provision allow
ing an additional exemption of 5000
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
$4,000 and $1,000 exemptions. respec-
lively, for married and single per-
sons.
Surtax Is Agreed Upon.
SurtaXes were agreed upon as fol-
lows:
One per cent on income over $4,000
and less than $500; 2 per cent be-
tween $500 and $4,000; 3 per cent
between $4,000 and $40, 500; per cent
between $12500 and $4,000; per cent
between $4,000 and $4,000; per cent
between $4,000 and $4,000; 10 per
IS per cent between $4,000 and $780,
per cent between 100000 and $4,000;
Is per cent betwene $4,000 and $780,
900; % per cent between 100000 and
$150,000; 25 per cent between $150,000
and 100000; 80 per cent between
100000 and $250,000; "a per cent be-
tween $250000 and 100000; 81 per
cent between 100000 and 100000;
40 per cent between $500,000 and $780,
900; 45 per cent between $750000 and
$1000,000, and 80 per cent on incomes
exceeding $1,000.0OO.
Increased Tax on Whisky.
Increased senate rates on whisky
and beer were virtually retained, and
that on wines somewhat reduced. The
tax on distilled spirits was made $40
per gallon when for beverage use and
81 less for industrial purposes estl-
mated to raise $135,000,000. The
amendment prohibiting importation of
distilled spirits for beverage use was
retained. Floor taxes to reach with
drawn liquors were approved. Beer
was taxed S1.50 per barrel additional,
IN CIR 000 0n0 g
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 20 cents instead of
from to II cents gallon were
adopted. Grape juice and other soft
drinks are taxed l cent per gallon, as
provided by the senate in reducing the
original 2-cent rate of the house.
Senate rates on cigars and cigarettes
were retained, but those ON snuff were
increased from 4 cents to 5 cents
pound.
Stamp Taxes Fixed.
Stamp taxes agreed upon are:
Bonds of indebtedness, cents on
each 500.
Indemnity and surety bonds, so
cents.
Parcel post packages, cent for
each 20 cents of the cost of transpor-
tation.
Capital stock, original issues, cents
per 500.
Sales and transfers, 2 cents per 500.
Sales Of produce on exchange. .
cents for each 500 value In merchan-
disc.
Drafts, checks payable other than
on sight or demand, promissory notes,
except bank notes for circulation. and
renewals, 2 cents for all sums below
500 and 2 cents for each additional
500 or fraction thereof.
Conveyance papers, 80 cents be-
tween 500 and $500 and so cents for
each additional $500.
Customs house entries, from 25
cents to 81; entry foI withdrawal from
bonded warehouses. so cents.
Passenger vessel tickets for ports
other than those in the United States.
Canada and Mexico, between $40 and
$50, 81 between $50 and $50, SO, and
above S60 81