Ottumwa semi-weekly courier. [volume] (Ottumwa, Iowa) 1916-1918, 1918-05-17
4 BILLIONS
IN WAR TAX
FIRST YEAR.

| penSe, Liberty Bonds EOf
Two-Thirds; May Hasten
New Legislation.
INCOME TAX EXCEEDS
1 ORIGINAL ESTIMATE
| Washington. d. O.. May 15-RSvassd
estimates OF revenue receipts In the
current fiscal year ending June 80
PLACE at $4,095, 699, 900 tho sum which
the American people will contribute d.
rectly to the government, mainly In
taxes for prosecution Of the war, These
estimates, reported today to tho Denate
by Secretary McAdoo in compliance
With request for specific Information
throwing light on future reyenue
needs. show that about one third tho
expense Of the war this year has been
met By taxation and two-thirds bytIAb.
erty bonds.
FIRST ESTIMATE EXCEEDED
The report disclosed that about
$2,775, $4,000 will be collected On the
basis OF income and excess profits
taxes returns on file May 4, about
$34S, 100000 more than the yield estt.
mated when the war revenue law was
enacted last October but less than the
50. 0O0, 100000 recently estimated. The
total now expected from internal reve.
nue. which includes receipts from In
come and excess profits tax returns,
Is $3.643,S99,000; from customs.
| $1S0,0O0,O0O; from miscellaneous
sources including $4,000, 900 earnings
Of increased first class postage. Sz7O,-
100000 and from sale Of public hands.
$500, 900.
These figures, although not basepon
actual collections, represent quite 10
curately what may be looked for from
ordinary revenue sources this year, the
treasury believes.
MAY HASTEN NEW LAW
The report will be examined care
fully by members of congress In con-
nection with the pending question OF
| whether new revenue legislation shall
be taken up at this session asfur9ed
by Secretary McAdoo. The fact that
its figures are fairly accurate is expsos
ed to have some influence with soms
members who have argued that results
OF existing revenue legislation should
be determined before new bills vert
framed. a
The report today did not segresate
other receipts from incomes and ex.
cess profits taxes, however. Early IN
the year Secretary McAdoo had e0t3.
mated income taxes at $1,201, 900, 900
and excess profits taxes at 31,216.-
100000.
Actual collections up to April / apd
estimates of receipts to June 30 n6w
show that $s6s.714,000 may be expect
ed from internal revenue sources other
than excess profits and incomes.
The taxes are distributed as follovse
From distilled spirits, $2S4.640s-
900; from fermented liquors, $751;
$4,000; tobacco, s154.9 900:
rect1fied spirits. $3.5O1 900; wines,
and liquors, $9,S66, 900: freight
express, telephone. telegraph md
other public utilities taxes, $751;.
$4,000; estate taxes, 9EOolt,000,
excise taxes on automobiles, jew
elry, piano players, moving picture
Aims, sporting goods, cosmetics.
proprietary medicines. chewing
gum. cameras and pleasure boats,
$36,O73,o00: admissfonAo y0acs6 Of
amusements and club dues, $50
10000; corporation capital stock
taxes, $14.s02, 900; stamp taxe1 On
futures. bonds, certificates, bond
securities and playing cards, 918.-
$4,000; insurance policies. Se,61S.-
600; soft drinks, $3,5S3 900: mis-
cellaneous. including taxes ON
brokers, bowling alleys, pod taU1ss
and theaters as business places.
$3,2S7,000: oleomarsar1ne, 4AfooS
900; compromises on dennQpouts.
opium distributors and othF mn
or sources. $1,3o2,0o0.
From the old munition m6nufActNr>
ers' tax, $40,000,000 is expected and
from capital stock and other special
taxes under the revenue act Of Sop
TENDER s. 1915, $2S, OS9, 900.
LIQUOR TAXES HEAVY
Actual collections on income anan-
cess profits taxes. Including advances
payments, amount to $41.0sS.000 ana
$2,72S, 100, 900 Is expected before the
end Of the year.
Collections from other inte1naa HUpo-
nue. sources up to April inctude4ho
following:
Distilled spirits. s1ss.0oo.eoo:
fermented liquors. $4,000, 900; to-
bacco, $111 .4Os. 900; public utili
ties, $24,7S0,0o0; excise taxes. 49,
$4,000: capital stock, $24, <7s000;
admissions and dues, $14.7SS 900.
Indications now are that part Of the
taxes from income and excess profits
will not be paid until after July /, the
beginning Of the next fiscal year, ow-
ing to permitted delays in Ming 10.
turns. and difficulty Of reviewing q
number of excess profits returns and
| deciding what taxes are fair. Tina
probably will prove true Of many re-
turns for which the time Of fliing has
been extended past April L.
HERO ILL; CLASS
PLAY CALLED OFF
Edon, May 15.-For the first time
in the history of the high school hero
there Will be no class play Plans