The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1917-10-01

VIII De uOuDteu anu even krapc Ju'Se W."
be taxed a cent a gallon.
A person cannot escape the taxes by
travel. Eight per cent is assessed on
passenger tickets and steamer tickets
also pay tax.
The senate income provision allow
ing an additional exemption OF $500
for each dependent child to heads oil
families to the present law was re-
tained. The exemption for children,
however. does not apply to those SUD
ject to the new reduced taxes with the
81, 900 and 81 900 exemptions respective
lly for married and single persons.
Taxes on non.alchoholic beverages
were compromised On prepared ex-
tracts. taxes graduated from five to
twenty cents were adopted. Soft drinks
are taxed one cent per gallon.
The senate rate on cigars and cigar
cites were retained, but those on snuff
were Increased from four cents to hve
cents pound.
List Of Stamp Taxes.
Stamp taxes agreed upon We're
Ponds of Indebtedness. five cents on
each $780, indemnity and surety bonds,
fifty cents. parcel post packages one
cent for each % cents of the cost OF
TRANSPORTATION; capital stock, original is
sues. five cents per 500; sales and
transfers. two cents per 500; sales oil
produce on exchange two cents for each
| 500 value in merchandise; drafts.
checks payable other than on sight or
demand, promissory notes. except bank
notes for circulation and renewals, two
cents for all sums below 500, and two
cents for each additional 500 or frac'
ton thereof: conveyance papers, nifty
cents between $l0o and $500, and nifty
cents for each additional $500; custom
house entries. from 20 cents To one
dollar; entry for withdrawal from bond
ed warehouses, fifty cents. passenger
vessel tickets for ports other than those
i'm the United States. Canada and Mex
leo between ten dollars and thirty dol
liars, tax one dolla;' between thirty and
sixty dollars. tax three dollars; ana
above $50. tax five dollars. Voting
proxies except in cemetery associations
ten cents: power of attorney. 25 cents
pla wing cards. decks of not more than
"a cards, an additional five cents on
the present rates.
House and senate provisions fo. a
tax of five cents. each on telegraph
telephone and radio messages costing
fifteen cents or more. and designated
TO raise seven million dollars, were re
tained. But the house tax on gas, elec
.. tric and telephone service was eimi
mated.
Effective November L. taxes on new
life insurance policies issued are IS pei
500 or over.
Amusement Tax.
Amusements taxes agreed upon pro
vide taat al! persons entering places OF
,amusements free, except employees and
officials on duty. and children under /.
lpay "A tax rate of one cent on each
Item cents or fraction thereof of the ad
mission charge This tax also would
lapply to cabaret and similar perform
. ances where the cost Of entertainment
/ is included in other costs. such as ser
vice. Holders of annual box seats would
pay ten per cent of the annual rental
Nickel theatres and shows. rides and
. other outdoor park amusements. with
"a maximum admission of ten cents, and
benefit entertainments and agricultural
exhibitions. were exempted.
After November | 1917, members OF
all clubs. except certain fraterna or
ders paying more than twelve dollars
annual dues would be subject to a ten
; per cent tax.
Some Corporation Taxes.
| On excess profits, the conferees
agreed upon a minimum deduction of
l # fat,
per cent instead of the six to ten per
cent fixed by the senate. Other exemp-
tions are $4,000 for corporations and
$4,000 for individuals. Corporations,
partners and individuals having no cap
ital stock would pay a fiat rate of
eight per cent on net profits in ex-
cess of So 900 on corporations and of
s6.0oa on individuals and partnerships.
Miscellaneous income tax amend
ments inserted by the senate were gen
orally adopted. including the so-calIed
Jones amendment for tax of ten per
cent on corporation undistributed sur
plus without allowance for income taxes
paid. The ten per cent would not apply
TO undistributed income actually in
vested or employed in business or in
|
tember l, 1917. and five per cent pen
atty for surplus retained but not en-
ployed is provided.
4 In making provision for administra
tion and collection OF the new and ex-
istent taxes. the conferees provided
that the special tax of l2 1-2 per cent
on war munitions profits shall be re-
turned to 10 per cent, but retained un-
til January. 1913. II now yields about
s29.0OO.00o annually, and the senate
had proposed its repeal.
| The bulk Of the increases of between
s25O,OOO.OOO and s3OO.oOO,000 made by
the conferees in the senate bill was
secured from the postage. public utili-
| ties and manufacturing sales sections
and the new inheritance taxes
| With few exceptions the new taxes
are effective with the passage Of the
act