Audubon County journal. (Exira, Iowa) 1884-1993, 1917-10-04
house tax on indemnity bonds re
New Inheritance Tax.

house tax on indemnity bonds re-
stored.
New Inheritance Tax.
The new rates on inheritances, with
those of Americans in military service
exempted, range from one-half of
per cent on $4,000 estates to 10 per
cent on estates of s1O,OOO,O0O and
more.
The bulk of the Increases Of be-
tween $35O,0OOOOO and $3O0,0OO,OO0
made by the conferees in the senate
bill was secured from the postage,
public utilities and manufacturing
sales section and the new inheritance
taxes.
With but few exceptions, the new
of the act.
Senate Version Stands.
The income tax section was adopted
virtually as written by the senate.
The new 2 per cent normal tax on i'm
comes of more than $1,000 for married
persons and $1,000 for single persons
is in addition to the present law ex-
empting incomes of less than $4,000
for single persons and $4,000 for mar
ried persons. Thus those between the
new low exemption bases and the
present exemptions will pay only the
= per cent tax, but single persons hav-
ing an income of $1,000 or more and
married persons whose income is ST.
900 or more would pay the full PEE
cent normal tax.
surtax Is Agreed Upon.
Surtaxes were agreed upon as fol-
lows:
I One per cent on incomes over $5,-
600 and less than $500; 2 per cent
between $500 and $4,000; 8 per cent
between $4,000 and $12,5OO; per
cent between $4,000 and $4,000; 5
per cent between $4,000 and $4,000;
per cent between $4,000 and $780,
600; 10 per cent between $4,000 and
and $S0,O00 is per cent between $780,
600 and 100000; % per cent between
100000 and S150,O00; % per cent be-
tween $15O,O00 and 100000; 80 per
cent between 100000 and $25O,000;
80 per cent between $25O,OOO and $780,
600; 81 per cent between 100000 and
$500, 900; 40 per cent between $780,
600 and $750,000; As per cent between
S750,OO0 and $1,OOOOOO, and so per
cent on incomes exceeding $1,000,OO0.
Messages to Pay.
House and senate provisions for a
| TOW Of = al, +nla nj, oil
phone and radio messages costing Is
cents or more and designed to raise
$7,OO0O0O We're retained, but the house
tax on gas, electric and telephone serv-
ice was eliminated.
Taxes on life insurance, eliminated
from the house bill in the senate, were
amended and reinserted, raising about
/ $5,OOO,OOO.
Amusement taxes agreed upon pro-
vide tax rate of / cent on each 10
cents or fraction thereof of the admis-
sion charge. Nickel theaters and
shows, rides and other outdoor park
amusements with maximum admis-
sion OF 10 cents and benefit entertain
d ments and agricultural fairs were ex
4 empted.
'jsl After November 1, 1917, members Of
all clubs, except fraternal orders, pay
a ing more than $12 annual dues would
be subject to 10 per cent tax.
Increased senate rates on whisk.
and beer were virtually retained ant
. that on wines somewhat reduced. TIL
, tax on distilled spirits was made ST.
per gallon when for beverage use ant
81 less for industrial purposes, est
: mated to raise $125,O00,000. TIL
amendment prohibiting importation O
distilled spirits for beverage use wa
/ retained.
Floor taxes TO reach withdrawn l.
/ auoffs were approved. Beer was take
: $3.50 per barrel additional, to rails
i S46,O0OOOO, an increase of % cents pc
e barrel over the house rate. Preser
wine taxes were doubled.
J Taxes on nonalcoholic beverage
! were compromised.
Senate rates on cigars and cigarette
II were retained, but those on snuff wei
$ increased from 4 cents to 5 cents
$ pound.
g Moratorium Extended.
e Paris, Oct 2-The moratorium