Evening star. [volume] (Washington, D.C.) 1854-1972, 1918-05-15
Secretary McAdoo, in Revised
Estimate, Covers Fiscal
Period Ending June 80.
COMPLIES WITH SENATE
REQUEST FOR FIGURES
Specific Information Was Sought by
Congress to Throw Light on
Revenue Needs.

Revised estimates Of revenue receipts
in the current fiscal year ending next
June 80 placed at $4,Oe5. $4,000 the
sum which the American people will con-
tribute directly to the government.
mainly in taxes for prosecution Of the
war.
These estimates. reported today to the
Senate by Secretary McAdoo. In com
pliance with a request for specific in
formation throwing light on future
revenue needs, show that about one
third the expense of the war this year
has been met by taxation and two-
thirds by liberty loans.
Income and Excess Profits.
The report disclosed that about S2.-
775,1s5,00 will be collected on the
basis of income and excess profits
tax returns on file May 4; about $685.
000, 900 more than the yield estimated
when the war revenue law was enacted
last October. but less than the $4,000
00O, 900 recent estimate.
The total now expected from internal
revenue, which includes receipts from
income and excess profit tax re-
topns s4o@ hsS
sources. including s4o.ooo.ooo earnings
Of increased first-class postage. s27o,-
00o, 900, and from sale of public lands
81. 10000 Estimates OF internal rev.
enue receipts last fall were about
50. 400. 900. 900.
These figures although not based on
actual collections, represent quite 40
curately what may be looked for from
ordinary revenue sources this. year. the
Treasury believes. because the larg-
est item. income and excess pronts
taxes has been calculated by revenue
collections from returns in their hands
eleven days ago. showing in most cases
exactly what will be paid in June. Sew
eral thousand returns still are out
standing by special permission OF the
these are not expected to add enough
to change the totals greatly.
Bearing on Revenue Legislation.
The report WIN be examined carefully
by members Of Congress in connection
with the pending question of whether
new revenue legislation shall be taken
tary McAdoo. The fact that its figures
are fairly definite is expected to have
some influence with members who have
argued that results of existing revenue
LEGISLATION SQOulQ DC ucIciuiiu uCloi .
new bills were framed.
The report today did not segregate
receipts from incomes and excess prof.
its taxes, however. Early in the war
Secretary McAdoo had estimated in
come taxes at $1.201 ,000, 900 and excess
profits taxes at $1,226.000.0 900.
Distribution Of Taxes.
Actual collections up to April 1 and
estimates of receipts to June 80 now
show that $s6S, S,714,o00 may be expected
from internal revenue sources other
than excess profits and incomes.
The taxes are distributed as follows:
From distilled spirits, $2S4,540.000:
from fermented liquors. s131. .434 900; to-
bacco. $154.909.000; rectified spirits, s3.-
501.000: wines and liquors. ss.S66.00o;
freight. express. telephone. telegraph
and other public utilities taxes. $67.-
$1,000: estate taxes. $50.917. 900; excise
taxes on automobiles, 5ewelry, piano.
players. moving picture films. sporting
goods, cosmetics, proprietary medicines,
chewing gum, cameras and pleasure
boats. S36.O73.000: admissions to places
of amusements and club dues, $50. .79S,-
900; corporation capital stock taxes,
s24.so2.oo0; stamp, taxes on futures,
bonds. certificates. securities and play
ing cards, $1S,564.000: insurance poli-
cies, S6,O7S, 900; soft drinks, $2,5S2, 900;
miscellaneous, including taxes on bro
kers, bowling alleys, pool tables ana
theaters as business places. 1929, 900;
oleomargarine, $2,130,000; compromises
on delinquents, opium distributors and
other minor sources, $1.302,OO0. From
the old munition manufacturers tax
SAC, 900, 900 is expected, and from capital
stock and other special taxes under the
revenue act of September s, 1916, $685..
$1,000.
Actual Collections.
Actual collections on income and ex.
cess profits taxes. including advance
payments, amount to $47.0s5,000, and
$2,72S, 100000 is expected before the end
of the year.
Collections from other internal reve.
nue. sources up to April 1 include the
following: Distilled spirits. $19S, 900 900:
fermented liquors, $40.50O.0 900; tobacco.
$111, 1,409. 900; public utilities. $24, 4,73O. 90:
excise taxes $19,573.000: capital stock.
24,47s.000; admissions and dues. $14..
598, 900.
Indications now are that part of the
taxes from incomes and excess profits
will not be paid until after July 1, the
beginning of the next fiscal year,
owing to permitted delays in filing re.
turns and difficulties Of reviewing a
number of excess profits returns and
deciding what taxes are fair. This
probably will prove true of many re-
turns for which the time of filing was