East Oregonian : E.O. (Pendleton, OR) 1888-current, 1919-02-06

Special provision Is maQe LOT coFe
porations owning oil or gas wells or
mines. Because of the hazards and
the rapid depletion a special reduc-
tion for depletion and improvements
is allowed. It is based on the fair
market value in the taxable year.
-Four InstaIIments.
The bill allows income taxes to be
paid in one or four installments, as
the taxpayer choose. The first INSTALL
ment is due when the return is filed,
the second three months later. tine
third in six and the last in nine
months.
War and excess profits tax:
Provision is made for both war and
excess profits taxes in the fiscal year
but after that the war profits taxes
comes off except in certain specified
cases where war contracts run over
in later years.
The excess profit tax for 191s-1sisI
is 80 per cent of profits up to 20 per
most involved in the bill, reads as
follows:
"The sum, il any. by which 80 per
cent of the amount of the net income
in excess in war profits credit, ex-
ceeds the amount of the tax computed
under the first and second brackets
(the excess profits tax provision.)
The war profits credit il $4,000 plus
the average net income for the pre-
war period (1911-1s12-1913,) plus 10
per cent of the difference between the
average invested capital of the pre-
war period and the invested capital in
the taxable year"
Estate Tax.
Estatet ak:
This provision levies a tax pegln-
ming at per cent on estates not over
$50 600 and running to 40 per cent
on those over $1O,0OO.000. Estates
of soldiers, sailors and marines killed
in the war or who die within one year
from injuries sustained in the war;
are exempted from paying this tax.
Transportation taxes;
These remain largely as in the pres
ent Laws per cent on freight ior-
eIgn or domestic: one cent on each
twenty cents paid for carrying ex-
press; per cent on passenger fares
except communication or season tickets;
per cent (present rate 10 per cent?
ON parlor car chairs and seats. berths
or staterooms on boats or trains;
per cent Cpresent rate S per cent? on
oil carried in pipe lines.
The tax on telephone and telegraph
messages which is now five cents on
each message costing Is cents or
more, becomes cents for messages be-
tween IA and SO cents and 10 cents
on all costing over so cents. 1V
per cent tax is put on leased wires
except new wires,
Insurance Unchan&ed'
Insurance taxes remain as now
| Nav /. 1919, a tax of one cent Is
| levied on each ten cents charged 1or
ice cream, ice cream sodas, sundaes
and similar refreshments if eaten
where sold.
| Tobaccos and cigars:
Cigarettes not over three pounds
thousand, So; over three pounds
s720. Tobacco and snuff, IS cents
| pound. Cigarette papers in books OF
| 2s to so, one half cent; so to 100, one
cent: over 100, one half cent for each
fifty:: tubes one cent on each fifty.
| Admission and Dues.
Admission and dues
the conferees cut to ten per cent
the 90 per cent theater taV they had
earlier decided on. After April l.
1918. the tax is one cent on each ten
cents. Spectators who sell tickets
at an excess of fifty cents over the
regular price must collect and pay
/ n tax of ten cents of the excess; If the
excess is over fifty cents, fifty per
cent ia. Roof gardens and cabarets
pay a tax of one and one half cents
for each ten cents charged.
Excise taxes:
Auto trucks are taxed three pei
cent of the sale price and other auto
mobiles except tractors per cent
Tires bear a per cent tax
Pianos, organs (other than pine or
gans) piano players, graphaphone'
, and all talking machines with records
pay per cent. sporting goods OF al
kinds ten per cent; cameras ten pc
a cent: chewing gum three per cent
: candv five per cent; Photographic
films and plates five per cent; gum
and shells ten per cent; hunting
knives ten per cent; dirks, daggers
sword canes and stilettos one hundred
! per cent.
i Special taxes.
/ A business tax of a dollar for eac
$1,000 in capital stock over $bVOo
for theater seating up to $50 a tax {
$50; for those seating up to 500, $lOO
and more than 500, 5000. In town
! OF 5000 or less these rates are halve'
Bowling alleys and billiard parlor
pay $40 for each alley or table,
Q District OF Columbia Dry
: An amendment to the measur
;, makes the District of Columbia bon
dry.
e No Filing Extension.
"a WASHINGTON, Feb. 6.-No eXter
IT sion of time in filing tax returns ur
Ie der the new revenue measure will I