The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1919-02-06
TAXES
I'M POSED BY
NEW MEASURE
Federal Budget Provides for
General Increases to Pay
for the War
WILL GO AFTER INCOMES
Nation Must Raise Six Billion
During Next Fiscal
4&a Year

Washington, Feb. Crates on
transportation, amusements, tobacco
club dues, and luxuries, stamp and
special taxes. We're adopted by the
conferees on the new tax budget.
The principal rate increase agreed
to in conference were to raise the coz.
poration income rate of 1920 from 5
per cent as proposed by the senate to
10 per cent, and an increase of 60 to
s.. per cent in the second (bracket) or
sliding rates on corporations excess
profits for this year. The 80 per cent
war tax for this year was adopted and
extended to 1920, but to be made ap-
plicable next year on profits only
from government contracts
The bracket rates for 1920 also were
approved
Retains Surtaxes.
In the important income tax section,
the bill retins all surtaXes proposed
therein
1t fixes the rate for subsequent
years at 10 per cent. The II per cent
normal rate on individual incomes
earned last year, and per cent pay.
able in 1920, are retained with individ-
ual exemptions of 81 LOCO for single and
$4,000 for married persons and an ad.
ditional exemption of 5000 for each
dependent minor
Also are adopted provisions that
principals shall only pay 6 per cent
this year. The surtaxes ranging from
! per ceaton incomes between $4,000
md $4,000 to IS per cent on more
than 100000 also were approved
OF the important general legisla-
tion and "riders'' the conferees adopt
ed the following: ay
hevying q prohibition tax On prod
ucts Of child LABOR. i: t.. ..
Pre1Nar Rates. =
Restoring pre-war rates, on letters
and postcards effective :. July 1st
Extending the Reed bone dry prohi-
bition law to the District, of Colum-
Increasing from 1925 to $100 the tax
on those dealing in intoxicants includ-
ing "stillsY in in1lprohibition territory.
For taxation iof salaries of federal
officials including .sthe president and
judiciary but not, Of state officials
For taxi'onsalt government contracts
by contractors on demand of the in
ternal revenue collector.
Establishing m advisory tax board
In the treasury and, restricting the
sale and usesofs nafcbucs.sbys strength
ening the Harrison drug act.
asR 'v,:s Tx. on Tickets. .aF%B E
The provision for taxes on trans
DortatiOn effective April largely fol.
lows the existing law, but reduces
from 10 per cent to 8 per cent the levy
on seats, berths, and stater0om ac-
concentrations in parlor cars or on ves-
sells, fixes rates on telegraph, tele-
phone, and radio messages at sc on
those costing 15c to soc and to 10c
on those above soc, and imposes new
tax on private or leased telephone
and telegraph lines, except press
wires, of 10 per cent of rentals.
In fixing the transportation rates.
the communication trips are exempted.
With the submission to congress to-
day of the long delayed war revenue
bill the American people were pre-
sented with their 1919 tax budget
something over six billion this year
and four billion hereafter subject to
revision roffifext congress 0eI 2t5
The conference report was regarded
as sure Of adoption by both house and
senate. It thus promises to be the
1uture American tax yield which is
now about s4,37o.O00.oO Beside this
years tax levy of six billion further
treasury need to be raised by bonds
are estimated at y billion.
Except for slightly increased war
excess profits and corporation income
Continned on, Page Eight ..-