The Pulaskian., 1917-10-05

secured from the postage pubic utlll- 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 per cent normal tax on incomes of more than $2,O0O for married per sons and $1,000 for single persons is in addition to the present law exempt ing incomes of less than $3,000 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 $3,000 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 $200 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 $2000 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 5000 and less than $7,500; 2 per cent be- tween $7500 and $10000; 8 per cent between $10,000 and SIP, 300; per cent between $12, 300 and $15,000; per cent between $15,000 and $20,000; per cent between $20000 and S40,000 10 per Is per cent between $S0,000 and $100,- per cent between $60.000 and $80,000; IS per cent betwene SS0,000 and $100,- GOO; 22 per cent between $100000 and $150,000; 25 per cent between $150,000 and $200,000; 30 per cent between $200,000 and $250,000; 34 per cent be- tween $250,000 and S300,000; 37 per cent between $3O0,000 and S50O,0OO; 40 per cent between $500,000 and $780, GOO; 45 per cent between $750.000 and ! $1,000,000, and 30 per cent on incomes exceeding $1000,000.
 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 $210 per gallon when for beverage use and $1 less for industrial purposes, esti- 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 $1.50 per barrel additional, to raise $46,000,000, an increase of 25 cents per barrel over the house rate. Present wine taxes were doubled.
 Taxes on nonalcoholic beverages were compromised. On prepared sirups and extracts the taxes gradu- ated from 5 to 20 cents instead of from to 12 cents a gaHon were adopted. Grape juice and other soft drinks are taxed 1 cent per gallon as provided by the senate in reducing the 1
 Senate rates on cigars and cigarettes were retained, but those on snuff were increased from 1 cents to cents a pound.
 Stamp Taxes Fixed.
 Stamp taxes agreed upon are:
 Bonds of indebtedness. cents on each $10O
 Indemnity and surety bonds, 50 cents.
 Parcel post packages, 1 cent for each % cents of the cost of transpor. tatien.
 Capital stock, original issues. 5 cents per $10O.
 Sales and transfers, 2 cents per $10O
 Sales of produce on exchange, z cents for each $100 value in merchant disc.
 Drafts, checks payable other thar on sight or demand, promissory notes except bank notes for circulation, ane renewals, 2 cents for all sums below $100 and 2 cents for each additiona $100 or fraction thereof.
 Conveyance papers, 50 cents be tween S100 and $500 and 90 cents fol each additional $500.
 Customs house entries, from 9 cents to $1 entry for withdrawal iron bonded warehouses, 50 cents.
 Passenger vessel tickets for port, other than those in the United States Canada and Mexico, between S10 an, S30, S1; between $50 and $60, $s, anC above $60. s.
 Voting proxies, 10 cents.
 Power of attorney, 25 cents.
 Playing cards. decks of not nor, than 54 cards, an additional 5 cent on the present rates.
 Taxes on life insurance, eliminate, from the house bill in the senate were amended and reinserted, raisini about $5,000.000. Effective Novembe 1.-the new taxes on new insurance pol icies issued are s cents per SlO0 O fraction fbaronf Al, 1ff, s,......... :.