Cottonwood chronicle. [volume] (Cottonwood, Idaho) 1917-current, 1922-01-06
NE DERAL TAX
I!LEvIES IN Effect
MANY LETTERS ARE CUT
OFF-LIGHTER BURDENS
ON THE PUBLIC.

Changes i'm federal taxes voted
by congress last month came in
to full force with the beginning
of the year. Here's how they will
affect you:
When you ride on a railroad
train or an inland or coastwise
steamer you no longer will have
to pay the government eight per-
cent of the amount of your fare
and eight per cent of the cost of
your seat, berth or stateroom.
When you ship freight you
will not be assessed an extra
three per cent of the cost. Like
wise you can send packages by
express or porcels post without
having to give up "war tax"
When you visit the drug store
for bottle of proprietary medi-
cine, a tube of tooth pasts toi-
let preparation OF the like you
will escape the veXatious stamp
taxes.
When you go to soda foun-
lin you no longer will find
lcle Sam holding out his hand
\ a penny on each ten cents or
4ction that you pay the clerk
u a drink or plate of ice
eam.
III you want to sport a pair of
hoes costing more than SO OF q
1ft costing more than So you
N not have to lay out tax.
I4tRe and all of the other social
"a Injury taxes on clothing, as
|ell as those on umbrellas, para
Is. sun shades, picture frames,
hunks, valises, pocketbooks, etc,
into the discard.
If you live in a place that still
M boast of a ten cent movie
SHOW or other place of amuse-
lnent you will not be assessed
penny tax. If the charge eX-
eeds ten cents, however, you
ill continue to pay war levy
4 the present rates of a cent for
ech ten cents or fraction.
All heads of families with de-
pedents will get slight reduc-
ti0 in their income tax during
tn new year the extent being So
f0 each dependent as a result of
th increase from 5000 to $400
inthe exemption on account of
de)endents.
If you are married and your
net income in 1921 was $4,000 or
less, however, you will get a still
further reduction in taxes as the
normal exemption for married
nRn in this class has been in
creased from $4,000 to $4,000.
Smile men are given no addi-
tiolhl exemption and can deduct
only $1,000 from their net in
Z come.
What1hc you are single or
r,arri6 Eou made a gain from
tle sale apital assets, such as
= buildir1E or stocks or bonds,
x can pay the tax on this gain
x&flthe corporation income rate
y of}121s per cent, instead of at
! tie surtax rate if you so elect.
If your income is such as to
mt you in the surtax paying
dass you will pay in 1922 at the
old war rates, but in 1928 you
will pay at the new rates, which
become effective. and which pro-
vide for some reduction all along
the line with the maximum at
so per cent on 100000 instead
of 65 per cent of $1,000,000 or
more.
Stamp taxes retained are
those imposed upon bonds of in
debtedness capital stock issues
capital stock, sales or transfer,
produce, sales of exchanges
drafts or checks payable other.
wise than on sight or demand)
promissory notes, conveyanccsi
entry of goods at the cut6qiz
house; entry for Withdrawal ~
goods from the Customs I'd |S9'
passage tickets, wers dHt
torney; playine ds md for
eign insurx ies
Taxes Mder existin,
law which = retained are
Automobile telephone
q. .ges; tabac
ACCeSS0T IS and snuff
wagons
6,sssss's ( yss~