Shepherdstown register. [volume] (Shepherdstown, Va. [W. Va.]) 1849-1955, 1918-01-10

The government expects to receive
81 ,20l,0O0,000 from income taxes before
July |, including S666, 100000 from in
dividuals and S535,OOO,OOO from corpo-
rations. This is more than one-third of
the S3,400,OOOOOO estimated receipts
under the war revenue act passed by
Congress at the last session. From ex-
cess profits taxes the government ex-
poets to realize about 81 ,22O,OOO,OO0 be-
fore July /.
The rate OF tax for a married man or
the head of family is , per cent on the
amount of his net income exceeding
$1,000 but less than $4,000, and 4 per
cent on the amount of his net income
above $4,000 but less than $4,000. An
unmarried person not the head of a
family will pay per cent on the amount
of net income above 81 900 but less than
$1,000, and 4 per cent on the net income
above $1,000 but less than $4,000.
An extra levy, or surtax, in addition
to the normal tax, is supposed on incomes
above $4,000, so that the amount of in
come between $1,000 and 81, 500 is sub
iect to a total income tax, including both
normal and extra, of 5 per cent; and
between $500 and $4,000, 6 per cent.
The surtaX further increases with higher
incomes, so that amounts of S1,0OOOOO
are taxable at 65 per cent with per
cent additional for each S5OO,OOO up to
S2,0O0000. All incomes over the latter
amount are taxable at 81 per cent.
Typical income tax levieS on heads of
families are as follows: Income Of
$500, tax is $40; income of $1,000.
tax is $40; income of So, 800, tax is $50;
income Of $4,000 tax is $40; income of
S4,500, tax is 500; income of $1,000, tax
is $50.
Unmarried persons would pay in this
way: Income of S1,5OO, tax is $40;
income of $1,000, tax is $40; income Of
$500, tax is $50; income of $1,000, tax
is $40; income of $500, tax is 500; in
come of $4,000, tax is $50; income of
S4,500, tax is SlOO; income of $1,000,
tax is S120.
Taxes may be paid in four INSTALL
mentS between now and June Is, if this
arrangement is preferred, but the Treas
ury will open a determined campaign
soon to encourage persons to pay their
tax in full Immediately and receive in
terest on the advance payment.
Officials in charge of the tax gather
ing machine expect to eliminate the
usual grudging spiritof taxpayers. They
have called this a"Liberty Tax, because
its proceeds go to the same war cause
as the Liberty bond issues, and every ef-
fort will be made to encourage the spirit
of willing giving among those on whom
the tax falls
About 100000 persons will pay in
come taxes, it is estimated, and most
will be subject TO a direct federal tax
for the first time, for less than 100000
paid income taxes last year under the
old law. Tax return forms have been
made as simple as possible, those for
incomes of less than $1,000 being espec-
tally free from technical features or in
quisitorial items.
individuals making more than $4,000
during the year also are subject TO an s
per cent tax on their income above that
amount, Independent of the regular in
come taxes. This 8 per cent levy is i'm
posed on individuals with no capital or
with only nominal capital, such as pro-
fessional men with money invested in
books, dentists and physicians instru-
ments or other equipment.