Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1921-12-30
Maine DRY GOODS RETAILERS
DISCUSS TRADE CONDITIONS
OPPOSE FoRDNEY TARIFF BILL

portaace to the actual payment of
these taxes has been the magnificent
spirit shown by the taxpayers in dis
charging their obligations toward this
government and the fine spirit to-
ward the tax gatherer. Why do we
encounter this magnificent spirit, es-
pecially when ones pocket is effect
ed? Because every one of us is i'm
bibed with the spirit of Americanism
which forces us to rise to the occa
sion regardless of the nature Of the
emergency.
The operations Of the Internal Rev.
enue Department during the fiscal
year ending June 80. 1921. under the
War Revenue Act of 1918, and other
internal revenue tax legislation re-
suited in the collection of 1886. 000,
1854. compared with $5.407, $50. PSI 81,
in the fiscal year ended June 80. 1920,
a decrease of sS12, ,4SS07, or Is per
cent.
The cost of administering internal
revenue laws for the fiscal year 1921
was $40, 203, 1854. The cost Of oper-
alton for the year on this basis is 81
cents for each 800 collected, compar-
ed with SO cents for the preceding
year. Included in the expenditures,
however, is sc, S9s, 40757 for the admin
istration of the prohibition and mar
cotic laws, of which amount $685.
S2G32 was for the enforcement of the
narcotic Inv and approximately
$4,000 for the enforcement of the
Child Labor Tax section of the Rev.
enus Act Of 1918. Deducting these
amounts from the total leaves $685.
! 174,30917 as the expenditure for COL
Letting the internal revenue. tax for
the fiscal year 1921, which is equival-
ent to cost of :: cents for each 500
collected.
On the above collections the State
of Maine collected s17.622, 9S5.SS as
| their share. In the fiscal year ended
June so. 1921. the State of Maine has
filed 4.37S 1040-s income over $1,000;
43.121 1O0-As. income under $1,000;
1867 corporation returns; 1920 part
nership returns; and 60,361 on miscel-
| laneous and special tax.
| The Revenue Act Of 1921, which was
approved by the President on No
vcmber %, 1921. re-enacts some sec
lions without change, amends other
sections of the Revenue Act Of 1915:
i repeats certain sections and contains
new sections. The excess profit tax
is repealed as of January 1. 1922. The
rates for the year 1921 are unchanged.
! The surtax rates for the calendar
,, year 1921 are unchanged and range
| from 1 per cent. on the amount of net
income between $1,000 and $4,000 to
So per cent. on the amount of net in
come in excess of 100000. For the
calendar year 1922 the surtaX rates
| range from per cent. on the amount
| of net income between Sc, 600 and s10,-
900 to 50 per cent. on the amount by
, which the net income exceeds 200,-
900.
Travelling expenses, including the
entire amount expended for meals
and lodging. while away from home
on business are allowed.
One of the most important changes
in the new law is that every indivi-
, dual having q gross income of $1,000
or more is required to make a return
regardless of his net income and also
every fiduciary having a net income
of $1,000 or more is required to make
return regardless of his net income.
The $1,000 specific exception is
granted only to these domestic corpo-
rations whose net income is $4,000
or less, beginning with the calendar
year 1921. Rate of tax increased on
corporation income tax paid at
source from 10 per cent. to II l - per
cent, effective Jan. l, 1922. 9
Taxes imposed under Section 904
are now confined to a D per cent.
tax on the following articles: Car
pets. on the amount in excess of
$3.50 square yard: rugs. on the
amount in excess OF 81 square
yard; trunks on the amount in ex-
cess Of $50 each; valises, travelling
bags, suit cases, hat boxes used by
travellers and fitted toilet cases, on
the Amount in excess Of $50 each;
purses. pocketbooks, shopping and
hand bags, on the amount in excess
ofIS5 each: portable lighting fixtures,
Including lamps Of all kinds, on the
amount in excess of $40 each; fans,
On the amount in excess of 81 each.
!These taxes are included in the
manufacturers excise taxes, and are
payable by the manufacturer, pro-
Queer or importer. and not by the
purchaser as required by the Rev.
20 ~, ray
may reimburse himself, by agree
ment with the purchaser. by quot
ing the selling price and tax in sep
arate and exact amounts, or by stat
ing to the purchaser in advance OF
the sale what portion of the quoted
price represents the price charged
for the article, and what portion rep
resents the tax.
Those present at the evening ses-
sion were: Thomas Smiley, Portland;
Charles +. Marble. Portland; P. H. F..
O'Brien, Boston, Mass; Thomas j.
Define, Gardiner; Leon o. Tebbetts,
Waterville; William D. Fuller. Port
land: George L. McCurdy, Water
Vile; Roy B. Lanca ster Slowhegan;
William NJ. Randall Belfast; William
]. WarrelI. Augusta: F. 0. Palmer,
Portland: w r. Cutter. Portland;
Albion l.. Buck, Norway: F. S.
Smith, Gardiner; u n. Nash, Bruins
wick: H. S. Brown, Waterville: F. w.
Fuller. Rockland; Fl. 3. Holland,
Waterville: George, r. King. Lewis
ton: A. D. Bloke. Waterville; F. r.
Littlefield, Waterville; W. A. Far
well. Waterville; X. A. Ballard. Wat
ervilIe; d. w. Adams, Augusta; E.