Iron County news. [volume] (Hurley, Wis.) 1913-1950, 1917-10-06


/ increased from 4 cents to 3 cents a
pound
Stamp Taxes Fixed.
Stamp axes agreed upon are:
Bonds Of Indebtedness. S cents on
each S1OC.
indemnify and surety bonds, so
cents.
Parcel post packages, ! cent for
each % cents of the cost of transpor-
tation.
Capital stock. original issues, 3 cents
per 500.
Sales and transfers. . 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 rIomissory notes.
except bank notes for circulation. and
renewals. cents for all sums below
800 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 $780,
Customs house entries. from %
cents to 81; entry for 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, 50, and
above SEQ, s..
Voting proxies, 10 cents.
Power of attorney, % cents.
Playing cards, decks of not more
than "a cards, an additional 8 cents
on the present rates.
Taxes on life insurance, eliminated
from the house bill in the senate,
were amended and reinserted, raising
about $50O0000. Effective November
l the new taxes on new insurance pol
icies issued are cents per 500 or
fraction thereof on life insurance and
1 cent per 81 on the premium charged
on marine, casualty, fire and inland
assurances.
Amusement taxes agreed upon pro-
vide that all persons entering places
of amusement free except employees
and officials on duty and children I'M
/ der twelve. would pay a tax rate of
| cent on each 10 cents or fraction
thereof of the admission charge. This
tax also would apply to cabarets and
| similar performances where the cost
| of entertainment is included in other
costs. such as service Holders of an
nual box seats would pay 10 per cent
of the annual rental. Nickel theaters
and shows, rides and other outdoor
park amusements with maximum adj
mission of 1G cents and benefit enter
tainments and agricultural fairs were
/ exempted.
After November l. 1917, members Of
all clubs, except fraternal orders, pay
ing more than $12 annual dues would
be subject to a 10 per cent tax.
Exemptions Are Allowed.
On excess profits the conferees
agreed upon a minimum deduction Of
/ : per cent and a maximum of 10 per
cent instead of the 6 to 10 per cent
/ fixed ny the senate. Other exemp-
| tons are $1,000 for corporations and
/ $4,000 for individuals Corporations,
/ partnerships and individuals having
no capital stock would pay d fiat rate
/ of 5 per cent or net profits in excess
Of $4,000 for corporations and $4,000
for individuals and partnerships
/ Miscellaneous income tax amend
ments inserted by the senate We're
generally adopted, including the so
called Jones amendment for a tax Of
10 per cent on corporations indis-
! tributed surplus, without allowance
for income taxes paid The 10 per
cent tax would not apply 20 undis-
/ tributed income actually invested or
employed in business or invested in
federal securities after September l,
/ 1917. and per cent penalty for sur
plus /, tained but not employed is pro-
yided
In making provision for administrs.
ton and collection of the new and
existing taxes the eonferees provided
that the special tax of 1919 per cent
/ on war munitions manufactures shall
Ice reduced TO 10 per cent. but re-
/ tanned % January l. 1918. 1t now
Yields about S29,000.eo0 annually and
! the senate had proposed its repeal.
; 1918 az an average ot 81 ION and
. sold ~ o., ~. co,c,,r,o- az so 81 +or