Tulsa daily world. [volume] (Tulsa, Indian Territory [Okla.]) 1905-1919, 1918-09-03
HEAVIEST LEVY
WINS APPROVAL


tutIlSlKn TROM PAUE ONI
sales 5000 600 bovI,rg alleys. nlI.
hard and pooi nbIea 1900 600
shooting palIcflcs 500 600. rldlnR
Aradtfuiss tEOOuO. buaIucss license
tax. 10000. 900 manufacturer OF
tobacru. Sos 600. manufacturer .of
,lgnrs $3.50 GOO usnufartursrs uf
.,lrafcfirs SltoDo0. use Of automg
bi,s ana mpinfr,,I.a ta,sgGUUO
Ilrport Eyplnin. Details
The fsport which VIII be- muHr
public tomorrow ly chairman
Itr,h.p. r,plpir.d tb, prs,Iuuns lf
tho hIU iu qrDu n BIS said the com.
p,it,aa drtrrulr,,t what proportion
of lnst of tnr. war thls ,rpr shoh'd hr
financed u, BtafIUn and by bonds.
not rpm prryious experience nH
there was analogy loo history. bat
Iuppu tluruuau consideration of me
rffrI pu tho morale OF the psop,U.
upon price initiation upon rruiu..
uuu and uU.u relative ability ut mo
prup,r .l pay taxes nov ana lfloI
Inc war
The committee esp aimed 10 had
decided upuu the raising ur 81 5000.
600 uUU b.. taxation because 30 htd
accepted 900 a sound nsDt policy the
recommendation OF Secretary NJ
Aduu that uu, third Df the govern
mrufs ,4timatrd expenditures 0f
i't 600 600 600 hIs wear be- obtained
from This aourr, sud me remaining
tno. thirds lY bonds
Tho report auId chat tbc bill levied
ON ON cuzens or residents Of ,ho
United EfaIc4 a uormll TAX ~ ~
Dor cent upon the amount of income
u ,Rrlss ut exemptions except that
un hr Nrt $4,000 of the nNible
amount ruc rate shall be- d per cent
The measure AIsp Increases the aur.
taxes uU along tho line
While uDdrr existing 'ap only
persons of lawful age have 90 make
RETURNS. the new bin requ.ro- per
cons under the lawnit Agr and having
net income fur the taxable year uf
81 600 ut over N single. or it mar.
lied. and not living with husband or
wife. and u9l married persons living
with husband or wife having not
,uoomc ~ s. 900 OF over 10 make
returns
The bill Ic,lrs corporation tax
uf IS per cent upun the amount ~
me net Income in excess of the credit
allowed bat provides that the rate
shalI be- ~ per cent upon So much Of
tnia amount ~ does rh exceed the
dividend. paid during the taxable
wear plus the amount uH ld durins the
mNable year out Of the oArninEs or
proAtA In discharge Of bonAv~dnd
uthNr Intereat bearing obligation.
outstanding prior 10 tho beginning of
lhnt yeur
This proyIa.un WINS under fire In
the committee today but without
change Under IL A c1rporatlou hay
tny fI0o 0OO net Infone In excess Of
Its credits which pays ont during the
,,nr $50 0Og La Jiyideuds and dis
rh,rT,g tIO OOO worth OF bonds
WouId then be taxed AZ per cent on
500 600 ana IL por cent On $40 600
Tho bin makes no change In the
corporntions exrmpt from inCom.
tax
partnArsbIps are not liable To in
com, t,s but rnrh mariner will nav
his incou, tov upon his share OF the
pnrinrr,hIn profits whotber distrib.
nt,t ~. nat
The hin sppIies tho war and cK-
cess profits taxes to corporations
onN pruyislon ls made Ia protect
rornor.tions v,bo". inVs,,ed rspitai
~ i,ss Than $50 OOo ana those cor.
nor,ti,n, in ,,bt,h intested rapital
/, moi mntAlat producinr factor.
tnrrS,srs also Ne,c madn I'm tho
estate IA. which viii range from 3
per cent h, to per cent
The Recommendation ana Insurance
tnN,v already made pubIlr Included
, rey t.v 81 40 p.r cent upon the
amnurt maid :, nnv teleFnph or
telenhons .comnanV Tor any special
I,.s,d vIr, or taking circuit but
docs moi npply In collection and dis.
s,p,ination of news through the nub.
No rr.ss or I'm thr conduct by A com
NON ,arrlsr or teirgrspb or tete.