The Richmond Virginian. (Richmond, Va.) 1910-1920, 1919-02-07

/ of the prohibition law These par
ties were arrested at Massaponax on
Nov. 9th, 1918. by Sergeant ]. G.
Chichester. Chief S. b. Perry and Or
ficer j. A. Stone and were turned over
to the Spotsylvania authorities.
| REVENUE TAX BILL :
CONTINUED from Page one)
senate bill is in the matter of the pro-
/, posed tax on the income OF the presi-
! dent OF the United States, supreme
court justices and judges of the infe-
rior federal and state courts This
was Originally a house provision. the
senate committee struck IL from the
! bill. But in conference the senate
conferecs yielded, and the provision
was put back in the bill.
! President Must Pay.
| This means that President Wilson
and all the Justices of the supreme
court will he required to pay their in
come tax 1t was said that President
/ Wilson had always paid his income
! tax, although not required by the
present law to do so. The amended
bill will make such payment manda-
, tory.
/ The house accepted the plan for
war and excess profits rates with one
change. This was the subject OF pro-
! longed controversy between the two
houses, but the house finally yielded.
The rates will be as follows:
I Thirty per cent OF the amount
: Of net income in excess of the
credits allowed. and not in excess
/ OF 30 per cent OF the invested
! capital.
| S,xty-five per cent of the
! amount OF net income in excess
! of 90 per cent of the net capital.
| The sum- if any, by which so
per cent OF the net income mex
| cess of the war profits credit ex-
ceeds the sum computed undef
the first two brackets.
I The change made by the con-
! ferees was in the second bracket
/ which the senate fixed with 50 per
| cent instead OF 65 per cent
The house also adopted the 1890
| plan by which rates for the fiscal
wear ending June 30, 1920 were fixed.
| Consolidated Returns.
The senate amendment permitting
! the filing of consolidated returns by
several corporations which are owned
! in whole or part by a single corpora
ton was agreed to. The house bill
/
returns but the senate amendment
had the support of commissioner OF
! Internal Revenue Roper and the
house conferees yielded.
The inheritance tax schedule origt-
nally adopted by the house and
changed by the senate was restored
to the bill, with few changes in the
rates. The house proposed to impose
! the tax on the individual irheritancss
while the senate changed this so that
the entire estate would be taxed The
| hin goes back to the house form with
the rates altered and in some cases
lowered.
Among the important senate
amendments which remain In the bill
and which are in the nature of gen.
eral legislation are the sections i'm
posing a tax upon child labor. extend
ing the Reed bone dry" law to the
District Of Columbia, and restoration
of pre-war rates on first class mail
/, The bulk of revenue to be raised
by taxes imposed in the bill will come
from income and war profits taxes.
These sections remain in the bill
virtually as fixed by the senate. An
exception Is that the corporation In
come tax rate for 1890 Is fixed At ten
per cent instead OF s. as fixed by the
senate
fixed at IL per cent on individual In
comes earned during the fiscal year
1S18-ls and per cent in 1920,
except that the rates are six and
four per cent respectively on the first
$4,000 Of income.
4 Exemptions of $1,000 for single and
$4,000 for married persons are al
lowed with an additional exemption
Of 1900 for each dependent child.
The surtax rate Is one per cent on
incomes Of between 5000 and
$4,000 and increases to IS per cent
on incomes Of $1,000. 900. or more.
1 The tax on dealers on intoxicants
including stills" in dry territory is
raised from $50 to $1,000.
Estate taxes substituted for the
senate's inheritance tax plan are
/ lower than present rates. With a
general exemption Of $4,000 the rate
lis ono per cent on the first $4,000
and the maximum Is per cent on es-
tates Of $10.000.000 and more. The
present rate is per cent on estates
of $4,000. or under and extending UP
to IS on those valued at 10000, OO0.
A new tax imposed is one per cent
on each ten cent sale, or fractian
thereof, by retailers Of ice cream,
soda water, sundaes and similar con-
fectionA
But rev changes were made from
the existing amusement tax rates. the
general rate of 10 per cent on each
ten per cent or fraction thereof paid
for admission to place Of AnauSe-
ment being retained.
Club dues are taxed ten per cent,
the present rate on membership
costing more than $40 annually.
Moving picture lessees or Licenses
are taxed fivs per cent Of their tcta|
monthly rentals instead OF the pros.
emit foOtAge tax on films
Manufacturers sales taxes cover q
wide range Of afticles. including no.
called luxuries and sema-luxurtcs.
Semi-luxury taxes Of ten per- cent
will become effective May l. Tho tai
Is levied on the excess paid AbovA cos