Walker Lake bulletin. (Hawthorne, Nev.) 1883-1926, 1922-01-07
NEW INCOME TAX
LAW IS IN EFFECT
WAR TAX is REMOVED FROM
MANY ARTICLES ON THE
FIRST OF JANUARY
Tax Is Taken From Freight and Pas
senger Tickets, Soft Drinks,
Shoes and Clothing. New Tax
Placed on Some Articles

| gtOn.--thangeS In federal
taxes voted by congress last month
became effective January 1st. Here's
how II will affect you
| When you ride on railroad train
or an inland or coastwise steamer you
no longer will have TO pay the govern
| ment per cent of the amount of your
| fare and per cent of the cost of
| your seat. berth or stateroom.
| When you ship freight you will not
he assessed m extra 3 per cent of the
cost Likewise you can send pack
ages by express or parcels post without
| having to give up war tax"
When You visit the corner drug
| store for bottle of proprietary medi-
| cine, tube of tooth paste, toilet
preparation or the like you will escape
| the veSatious stamp taxes.
When you go to a soda fountain you
| no longer will find Uncle Sam holding
out his hand for a penny on each 10
cents or fraction that you pay the
clerk for drink or plate of ice
cream.
If you want to sport pair of shoes
costing more than $40 or shirt cost
ing more than SO you will not have to
pay out a tax These and all of the
other so-caled luxury taxes on cloth
ing. as well ms those on umbrellas,
parasols sunshades, picture frames,
trunks, valises. pocketbooks, ETC., went
into the discard Monday.
If you live in n place that still can
boast of 10-cent movie show or 9TH
err place of amusement you will not
be assessed a penny tax. If the charge
! exceeds 10 cents, however, you will
continue to pay war levy at the
present rates of cent for each 10
cents or fraction.
All heads of families with depend
ents will get slight reduction in
their income tax during the new year,
the extent being IS for each depend
ent as the result of the Increase from
5000 to $500 in the exemption on ac-
count of dependents.
If you are married and your net In
come in 1921 was $1,000 or less, how
ever you get still further reduc'
ton in taxes as the normal exemption
for married mem In this class has
Neen increased from $1,000 to S2ooo.
Single men are given no additional
exemption and can deduct only $1,000
from their net income.
Whether you are single or married.
If YOU made gain from the sale OF
capital assets, such as building
or stocks or bonds. you can pay the
tax on this gain at the corporation In
come rate of II IL per cent, instead
of at the surtax rate If YOU 50 elect.
If your income is such as to put you
In the surtax paying class you VIII
nav at the new rates, which become
effective Monday and which provide
for some reduction all along the line
with the maximum at 90 per cent
on 5000. 900, instead of 65 per cent on
81 .OOO, 900 or more.
some cluSStS VI btoihN''a'y 80
little get some relief under the new
tax hill. but other classes Will nave
their taxes increased. Corporations
which. did not fall within the excess
matchmaking class during the war
will have their taxes advanced through
the increase of . l2 per cent In the
cornorot ion income tax. Corporations
FILLING within this class include the
railroads and public utilities, the In
cone of which are regulated by feder-
Al or state commissions through the
control over rates.
The excess profits tax Is repea,ea'
| effective Monday, but the result VIII
not be reflected in federal revenues
| until the calendar year 1923 IA next
year this tax will be paid on the basis
Of the profits made In 1921. Likewise
| corporations will not begin paying at
| the increased normal income tax rate
until 1923.
| Many of the special or excise tax
| es imposed upon manufacturers ~
| many lines of business also went by
| the board Sunday. The trainers of the
| new tax law believe this will tighten
| the burden of the public generally as
| they hold that these taxes, with but
] Jew exceptions, have been passed on.
| Manufacturers who have their taxes
repealed are those turning out chew
ing gum, articles made of fur, musical
| Instruments, sporting goods. Including
billiard anG pool tables and balls.
neas"re boats and canoes costing less
than 500 each; electric fans and Tier
,os bottles and jugs.
Has Model of Old lronsides