Pine Bluff daily graphic., 1917-09-30
PROFITS TAXED HEAVILY
 BY CONFEREES Incomes of From $1,000 Up Must Pay Part of Cost
 of the War. PUBLIC TO FEEL
 LEVIES AT ONCE Letters, Telephone and Telegraph Messages, Parcel Post Packages, Express Orders, Transportation,
 Gum Among Its Items.

Washington, Sept. 29.-Final agree ment on the s2,7OO,OO000O war tax bill was reached late today by the senate and house conferees, and the report will be presented to the house Monday.
 Levies of approximately $1,0OO,O00,. 900 on war excess profits hnd $S42,' 100000 on incomes were left unchang- ed, but a new system of calculating excess profits was adopted. The con- ference report provides that the grad uated tax of from 20 per cent to 60 per cent on corporations, partnerships and individuals shall be levied on a basis of invested capital compared with invested capital of the three pre- war years of 1911, 1912 and 1913. This is a substitute for senate taxes or from 12 to 60 per cent, based on sim liar comparison of pre-war and pres ent profits.
 The income tax section virtually was unchanged, except for the rear rangement of surtaxes on incomes be- tween $15,O0O and $40.000. the grad uated surtaxes of from 1 to 50 per cent on incomes of $5,OO0 to those or $1,O00, ,000 and over were approved. The senate increase of from 2 to 4 per cent of the income tax on corpor- ntions, joint stock companies and 1n- surance companies was approved. to- gcther with new normal indlviduai tax of 2 per cent on incomes or un- married persons In excess of $1,OOO and of married persons of more than $2,O00.
 The graduated excess profits rates are 20 per cent on excess profits not in excess of 15 per cent of the invest ed capital for the taxable years; 70 per cent on profits in excess or l5 .ner cent and not over 20 per cent or such capital; 35 per cent cn excess over 20 per cent and under % per cent of capital: 45 per cent on excess over 25 per cent and under 5 per cent, and a maximum or 60 per cent on profits in excess of B per cent or such capital.
 In calculating war excess profits inc term invested capital" of corpor- ations and partnerships was declared to include actual cash paid. actual cash value of other tangible property maid for stocks or shares at time or nayment or on January l, 1914, put m eo case to exceed the par value or the original securities: paid or earn. cd surplus and undivided profits used or employed in the business, exclusive of individual profits earned durins taxohla vears. The allowances TOT intan gible assets include actual casn volne of patent right and copyrights paid for in stock at time or paynen' good will, trade marks, trade Oranus' franchises, if for bona fide payments. not to exceed the cash value. N stipulates that such tangitle assets' exchanged for securities before Marcn s 1917. not exceeding 90 DOT cent or tha total. shall be included at value mi exceeding a fair cash Value at tno time of purchase. .ax m n.rL checks not registered. but US ta~ ~ of | cent on parcel post packages coating 25 cents or more was retain od Other stamp taxes. all made sectiva December l. were retaineas and house tax on indemn''y was restored. K. X
 Tn lieu of the house sone tax on ..aord-class mail matter the coniel esa included a new zone system etrecs i've i've July i. 1918, with different ,n;cs r:ses tor M reading matter and advertisins. with special but increased rates ~s religious. agricultural or other slmans .ss publications. A nat mcte. . N. - reading matter of one-foursn c.ns .he,e pound until July l, lsls., snC on Aa 2 cent thereafter was provlds1. ~ert,sinr matter exceeding i've per csrt of inc total space would P tax. sd 1 from oue.fourth to two anu one, Mslf cents additional unti. Juv !. ls ISIS, and frcm ons'h.li cert to ,s's.,s 4ssa .nuss.somrth .nu.e & to 5 s.4 cents to 1911. ani from t,,u m cent to 2 cents theeratts !. Mu additionai tax of 13c Der poNna u. til July i. 1919. and lie msFs.1s