The Mena weekly star., 1921-08-18
NEW TAX BILL. IS
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sIO License fo- Soft Drink Dealers Other Changes Include Greater Ex- emption for Those With Depend
 ents and Repeal of Taxes.


 ents and Repeal of Taxes. Washington, Aug. 14.--Revision of the 1918 tax law was completed yese- terday by Republican members of the House Ways and Means Committee with the adoption of these additional changes:
 Repeal of the express and oil pipe line transportation taxes, effective upon enactment of the bill.
 Other Changes Made. Besides the changes agreed upon to- day the bill, as it will be presented to the conference of House Republicans Monday, will contain, members said, these provisions:
 Repeal of the excess profits tax and an increase in the income tax on corporations from 10 to 15 per cent, with the $2,000 exemption re- tained, effective January 1, 1921.
 Repeal of the income surtax brackets above 32 per cent, effective January 1, 1921.
 Repeal of all forms of transpor- tation taxes, effective January l., 1921.
 An increase from $2,000 to S2,500 in the exemption to married men having an annual net income of S5,O0O or less, effective January l, 1921.
 Heads of Families Benefit.
 An increase in the exemption to heads of families on account of de- pendents to S400 for each dependent, instead of $200 as at present. eifec- tive January 1, 1921.
 Exemption from tax of the first $500 of income received by individ- uals from investments in building and loan associations, effective Jan uary 1, 1921.
 Repeal of the tax of fountain drinks and ice cream and the sub stitution of flat tax of 10 cents gallon on all fountain syrups to be paid direct by the manufacturer or maker, effective upon enactment of the bill.
 Repeal of the stamp taxes on per-
 
 toilet preparations and proprietary medicines and the substitution of a manufacturers tax of per cent on the sale prices, effective on the en- actment of the bill.
 Candy Tax Reduced.
 Substitution of a manufacturers tax of cents gallon for the pres ent 10 per cent on the sale price of unfermented juice beverages, and carbonated water beverages, and soft drinks sold in containers, ef- fective on the enactment of the bill.
 A reduction ln the manufacturer tax on candy from to per cent, the manufacturers taxes on furs from 10 to per cent, and on sport ing goods from 10 to per cent, and the levy on art and art work from 10 to per cent, effective on the enactment of the bill.
 Imposition of a manufacturer tax of 3 cents gallon on certain classes of grape juice and 2 cents gallon on other classes. in lieu of present tax of 10 per cent on the manufacturers settling prices, ef- fective on enactment of the bill.
 The levying of cents pound on acid gas sold to manufacturers of carbonated gases, effective on en- actment of the bill.
 To Keep Claims Out of Court. Numerous changes also were made n administrative features of the pres mt law on recommendation of treas Try experts. These included insertion )f a provision authorizing the secre- ,ary of the treasury to settle disputes ,ver back taxes without resort to the ,ourts. In effect, there would be set ID tribunal to pass on such claims and the time for their settlement would be reduced from five to three years, except that the secretary could ,xtend the time within his description. Treasury experts and members of he commission believe that this pro- 'ision will simplify greatly the task of the taxes now in dispute, to total approximately ,500 million dollars.
 Reject All New Taxes. In passing finally upon the various .hanges in levies, the majority mem- ,ers of the committee rejected all of he treasury suggestions for new axes and also the proposal that the l ncome surtax rates be reduced to 25 | per cent, effective January 1. The 1 Republican committeeman also went much farther in revising levies than vas suggested at the White House conference.
 The bill, as drawn, will be subject to hange by the conference, which is to l lecide upon a rule Monday for consid- | ,ration by the House, but members of | he committee do not anticipate any alterations.