Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1919-01-09
.CONFEREES AGREE
ON REVENUE BILL.
Normal Income Tax Rate for
Year Fixed at IL
Per Cent.
SLASH OFF s4,O0O,0OO,OOO
Schedule of Surtaxes Adopted
by Senate Affects Large
List.
SLASH OFF s4,ooo,oo0,ooo

WASHINGTON, January s.--Thc
confercea OF the Senate ami the House
on the revenue bill to-day agreed to
the Senate amendments on the normal
income tax rate. the individual income
SurtaXes and the exemption of State,
county and city bonds from taxation.
the Senate provision liking the income
rates for 1920. which is part OF tho
plan adopted by the Senate to reduce
dhe dhe &c eol,eetions for that year to S4.-
The normal income tax rate for the
ensuing year under to-day's agree
ment. will be II per cent of the ne:
and $4,000 for a married man. nan Hlti and
s2oo for each dependent child; upon
ever, the rate will be only per cent.
For the year ending June 80. 1920.
the rates will be per cent and 4
nounced that the meeting Of the con-
ferees, the first held since the bill was
passed by the Senate, was marked by
Inent was reached without much de-
bate.
DEMOCRATIC MAJORITY
ASSURES ACCEPTANCE
Inc 1870 plan was adopted by a
party vote as in the Senate. but the
Democratic majority in each house as
sured final acceptance OF the plan
whenever the bill is reported. The
schedule Of surtaxes adopted by the
Senate and agreed to by the conferees
to-day provides for the collection OF
addition to that collected under the
normal tax.
On the amount of income In excess
cent between $4,000 and 5000. per per
cent: between $4,000 and $4,000,
per cent; between $4,000 and $4,000
: per cent: between $4,000 and $4,000
600. per cent; between $4,000 and
$4,000. per cent; between $4,000 and
$4,000. per cent: between $4,000 and
and $4,000. 10 per cent: between ;SI,.
600 and $4,000. IL per cent; between
$4,000 and s2s.ooo. ~ per cent; be-
bet. cen $4,000 and $4,000, IA pei
cent; between $4,000 and $4,000. Il
per cent: between $4,000 and sss.ooo
dSo dS per cent; between $4,000 and $3s,.
600. ~ per cent; between $4,000 and
10000. ls per cent; between $4,000
eSS eps sad sasos944 as per ao cent. sss
tween ,ss.ooo and $4,000. 80 per- per cent mt
cent; between $4,000 and $4,000, 2.
per cent.
, ASSESSED :5 FER CENT
The bill calls for a tax OF 25 per
sent ssn oo0 on incomes between 5000 and
2S per cent; between s56.o0O and i5s,-
600. q per cent: between S5S.00o and
$4,000. IS per cent: between 100000
and $4,000. 90 per cent; between ;6o.-
600 and $4,000 30 pc! cent; between
$4,000 and $4,000. 81 per cent; be-
tween $4,000 and 5000, 80 per cent;
between s6S,000 and $4,000, 33 pei
cent: between $4,000 and $4,000. "a
per cent: between $4,000 and $4,000
80 per cent; between $4,000 and sT6.-
cog. .oS6 S6 per cent: between $4,000 and
$4,000. 81 per cent; between $7S,o0O
and asnnSd $4,000; 3S per cent; between $780,
COG and 1000. 80 per cent: between
ss2,oao az and a. $4,000 80 per, cent: be
between $4,000 and $4,000, ~ per
cent; between SSs.000 and $4,000. 43
per cent: between $4,000 and $4,000,
- rer cent: between $4,000 and s9I.
GOO. 40 per cent: between $4,000 and
. $4,000. 46 per cent; between S96.0OO
and $4,000. A per cent; between $685.
600 and 100000. IS per cent; between
100000 and s15o.000, 80 per cent; be-
tween $4,000 and 100000. 56 per
cent; between 100000 and sa006O
60 per cent; between 100000 and $500,
600. 6S per cent: between 100000 and
$1,000, 600. 81 per. cent: income in excess
of 81 100000, G5 per cent.
The House provision exempted from
bonds issued prior TO the passage OF
the bill, but imposed a tax on sub.
sequent issues. The Senate struck out
the proviso, SO that in the form final
~ agreed to all such bonds will be