The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1921-11-08
TAX REVISION
BILL PASSED
BY SENATE
Excess Profits and Trans
portation Levies
Repealed

WASHINGTON. Nov. s.--The much
revised tax revision hill finally wnH
passed By ths senate at i.3b n. IN. to-
day after session lasting more than
rs hours. II still must run the
gauntlet Of the senate and house con-
ferees before 1t reaches the president.
The vote was ss TO "a. three repub-
hcans-laFollett Moses and Norris
voting against the bill and one demo-
crat Broussard, supporting Il.
As now drawn the bill is estimated
BY treasury experts TO Yield approNi-
mately Sa.2b0. 100000 for the fiscal
year ending next June 30 or 100000
600 less than the existing law IL all
OF the changes proposed become ef-
fcctive. however the measure ulti-
mately win reduce the nations tax
bill by approximately ST50,O00,OOO.
senate confcrces ON tn, bill were
named aa follows;
Pcnrosc. McCumber and smoot re-
publicans. simmons and Williams.
democrats The bill IL to be reported
Ia the house "Wednesday and repub-
lichn leaders plan on Thursday TO
send II to conference.
Features OF Blll.
Features OF the tax revision bill
provide repeal OF the excess profits
TAX and all transportation taxes on
next January first, and reduction
Of the surtaN rate. with the maximum
rate reduced from 90 10 90 per cent.
Besides. the bill would repeal taxes
on;
Parcel post packages
! Proprietary medicines. toilet soaps
and toilet soap powders tooth pastes.
tooth and mouth washes toilet pow
ders and petroleum Jellies. (siamp
taNrs).
Pianos and other musical instru-
ments.
Umbrellas, paasols, sun shades
| picture frames and articles OF wear
Ing apparel costing In excess OF cor-
tain amounts Cso-called luxury taxcs)
Insurance premiums.
Articles made Of fur.
Moving picture films.
Ice cream.
Chewing gum.
Sporting goods including billiard
balls and tables. pool tables and dice
Admissions whore the cost does not
exceed 10 cents.
Pleasure boat ana canoe costing
less than 500.
Thcrmos and thcrmostatlC bottlci
and jugs
Portable electric fans.
Bonds Of indemnity ana surety
tHtump tuNesl.
Taxes proposed to be reduced In
yllde those on.
Individual incomes Of 8. 900 or lcsi
through Increased eNem ptions uf $500
10 heads Of families and $500 for eacl
dependent.
candy from five 10 three per cent
Works of art from 10 To per cent
| Capital stock issues having pa
value OF less than 500 share (staml
taNes).
Cereal beverages from 10 per cen
of tho sale price to two cents
gallon.
Unformentcd beverages from i
per cent Of the sale price 10 two cent
a gallon.
Carbonatcd beverages from 10 pc
cent uf the sale price to two cents
gallon plus fiVo cents Il gallon on tn
syrups used In their manufacture.
TaNr- tn h. Increased
Taxes proposed to be Increased In
Incorporation income from 10 TO
Z per cent.
Al Corporation capital stock where th
4. amount exceeds three million dollar
Corporations through repeal Of tn
$1,000 normal exemption OF thos
having a capital stock In excess q
;. $4,000.
Estates taxes where the total SUI
exceeds $4,000. 900.
IA Medicinal beer wine. (cXceptio
shiWpnEnvl and WHISKY
q Alcohol when diverted unlawful
B. for beverage purposes from sage
] fHu11pu fA "a uulfun
/. Taxes proposed TO be changed u
p cludot
a stamp luvics on perfumes. essence
y toilet waters. oNtracts hair oils. ct,
% 90 manufacturers levics at four .,
q cent.
n Retail taxes on fountain drinks
manufacturers lovirs Of scyen and
u hnlf conts a gallon on finished fouI
% tain syrups FOR such drinks.
Retail luxury taxes on carpets. rug
u trunks Nuliscs. travelling bags. su
r. cases. hat boxes fitted toilet ease
y purses. pockctbooks. shopping an
10 handbags, portable lighting fixture
a. including lamps OF an kinds and Ian
shades. and fans costing In excess
/ | certain amounts tp manufactures
tax uf five per cent
Now taxes includct
IrNirs uu riltH uf property hy az
person az rates ranging from one p
cent ON the amount between $50 ,0l
q and $50 600 tu 90 per cont on 10 mi
o lion collars or more.
Manufactured tax NJ three D
be cent ON c1rhonir acid gas 60 make I
.o unH of tho revenue lost In rrpcnlii
90 lhu soda water taNes
10.
i Snow and Cold