The Harrison times., 1917-10-06
CONGRESS MAKES LEVY At s27
FOR EVERY MAN, WOMAN AND
CHILD IN THE UNITED STATES
Excess Profits Revenue at Bill on and Incomes at Nearly
Much Remain Practically Unchanged by Work Of
The ConfereeS.
Corporations viii Pay Their Financing
New System Of Graduating Assessment
lieved to

/ 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 per cent normal tax on incomes
Of more than $1,000 for married per-
sons and $1,000 for single persons is
Ia addition to the present law exempt
ing incomes of less than $4,000 for sin
gle persons and $4,000 for married per-
sons. Thus those between the new low
exemption bases and the present ex-
empuOns will pay only the = 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 4 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
$1,000 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 $1,000
and less than $500; per cent be-
tween $500 and $4,000; 3 per cent
between $4,000 and $500; 4 per cent
between $12,500 and S15,000 per cent
between $4,000 and $4,000; 7 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,
600; % per cent between 100000 and
Sl5OOOO % per cent between $l50000
and 100000; 30 per cent between
100000 and S2500O0; "a per cent be-
tween $250,O00 and 100000; 81 per
cent between 100000 and $5OO,OO0; !;
40 per cent between $50O,OOO and $780,
600; 45 per cent between $750,000 and
$lOOOOOO, and so per cent on incomes
exceeding $1,0O0,OO0.
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 81 10
per gallon when for beverage use and
81 less for industrial purposes, esti-
mated to raise S135,000,OO0. 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,
to raise S46,0O0,000, an increase of %
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 8 to 20 cents instead Of
from to 12 cents a gallon were
adopted. Grape juice and other soft
drinks are taxed 1 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 a
pound.
Stamp Taxes Fixed.
Stamp taxes agreed upon are:
Bonds Of indebtedness, 5 cents on
each $780,
Indemnity and surety bonds, 90
cents
Parcel post packages, cent for
each 25 cents Of the cost of transpor.
tation.
Capital stock, original issues, 5 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, promlssory notes
except bank notes for circulation, and
renewals, > 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 80 cents fol
each additional $500.
Customs house entries, from 2,
cents to 81 entry for withdrawal from
bonded warehouses, so cents.
Passenger vessel tickets for port,
other than those In the United States
Canada and Mexico, between $40 ant
$40, 81 between $50 and 500, SO, anC
above 500, So,
Voting proxies 10 cents.
Power Of attorney, % cents
Playing cards, decks Of not NOR,
than "a cards, an additional 3 cent
on the present rates.
Taxes on life Insurance eliminate,
| from thp hnuSn hilI In tho eon,+o