The daily times. [volume] (Wilson, N.C.) 1902-1936, 1918-08-14
M0p[ AR0||T ..s''tS
lVUNl Hl)(JlIs If {,
INCOME. [Ill..
New Items Include Tax-. xn1a
Business and Professional
Men of From Ten
TO TWENTY-FIVE DOLLARS

Washingtno, Aug. 14--EGrsNrUsss~
tors of all businesses and yyvaaa.ss
sional men with only few szaeSs-
tions will pay an annual Fedesz& Ts,-
cense of $40, and heads OF TstasE.--~
sale concerns doing yeaftys E1gsIs--
| ness OF 100000 or more Hfs& Hs&3
required to pay an annual fee OF xGTs<Ss
according to a schedule inserssd tbs.S
terday in the draft or the@ 9Assssss.sr.
100000 revenue bill by 5ssa EakHsss
Ways and Means Committee. M.ss1.s,sssls
ers, mechanics, ministers aEaa sssa ssass-
ers will be exempted from 5hss = Izss'
occupational tax, as will icescxSsss.s.2'
doin gan annual businessaof Esssy datax4l
$4,000.
Secretary McAdoo will 'aupesr 3sS1~-
fore the committee tomorgaw iGs xssgs~4-
port of the Treasury pl&n for aasasaswr
excess profits and alternative 7ssxrc-
profits taxes. Members of the; yzakS4--
mittee at the close of today's sssysssEE4
said the bill would be ready for gr.s>-
sentation to the House when Sf,s.s:
body reassembles next Monday.
Chairman Kitchin in announrirE-
that the bill would provide mfsszE.r
for raising all Of the $4,000, COG gyssd
originally allotted to be raised Eyy
taxation, made the following skRI1ar-
ment:
To-day we put a ten per cent re-
on all jewelry composed wholly Egg :
partly of platinum in addition to- ffas2-
ten per cent manufacturers tax aIe.2
all forms of jewelry as agreed tC i&,.~'
ready by the committee. We rsr-
quire venders to keep reconT $40
the government may know wfS.svse
all the platinum in the country ID
located and how much
''The committee adopted an uS1-@'
cupational tax. There is no desEaslSEs!
estimate yet as to how much il u:tS-
raise in revnue. Under the nlslKsa
adopted the proprietors of any nssxa~4-
cern doing busines sof $4,000 yt.as,z'
or more will pay $40 annual tax aassaHH.
wholesale concerns doing businesses
of 100000 or more will have sAg
pay tax of $25 along similar E4,gr
This does not apply to clerks or ep.s----
ployes of concerns nor to saI&r1tsEa
men. Farmers, clergymen, scSatHy1
teachers and mechanics also are s.Ss--
empted.
The income tax was amended ssgz T"
as to provide for payment in CansSwSssA.
or in any foreign country, of 'asstae
taxes on incomes earned in tfesss
countries by American citizens, sgD
corporations the tax to be paid ,EFr
prescribed by the laws of tErosS
countries
I'VE discussed the question OF zSsG-
lowance for depletion of oil weIg@s
but deferred action until tomorTHwz-
"The committee amended the, rssz-R
per cent tax on amount paid tssr
leased wire and talking circuits ffRse-
amendment exempting newspapsreF--
press associations and period5a:sksE&ss
leaving the original provision staWSsss-
in gas to everything else inclu5dsax.gs;,
stock brokerage, leased lines aGs1eSS
circuits.
when the committee adjoarrsNesE?
there was pending proposals tor aar>--
crease the taxes on the larger wsss's
sonal incomes, by graduating tina: fxs-e-
comes OF $4,000 year or more sss z
still higher ates, and to increase ffsG
taxes on all estates Of $1,000, eco ssars-
MORE