Iron County record. [volume] (Cedar City, Utah) 1893-1982, 1922-01-06
new INCOME. TAX
LAW IS IN EFFECT
WAR TAX rs REMOVED FROM
MANY ARTICLES ON THE
FIRST OF JANUARY
Tax ls Taken From Freight and Pas
senger Tickets, Soft Drinks,
Shoes and Clothing. New Tax
Placed on Some Articles


taxes voted by congress last month
became effective January list. Here's
how 1t 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 8 per cent of the amount OF your
fare and 8 per cent of the cost of
your seat. berth or stateroom.
When you ship freight you will not
be assessed an 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 a bottle of proprietary medi-
cine, tube of tooth paste, a toilet
preparation or the like you will escape
the vexatious stamp taxes.
When you go to soda fountain you
no longer will find Uncle Sam holding
out his hand for n penny on each 10
cents or fraction that you pay the
clerk for drink or n 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-called luxury taxes on cloth
ing. as well as those on umbrellas,
parasols sunshades, picture frames,
trunks, valises, pocketbooks, etc, went
into the discard Monday.
IL you live in a place that still can
boast of a 10-cent movie show or 9th
err place Of amusement you VIII not
i be assessed penny tax. II the charge
'Eexceeds 10 cents, however, you VIII
| continue to pay a war levy at the
present rates of q cent for each IL
cents or fraction.
All heads of families with depend
ents will get n slight reduction II
their income tax during the new year
the extent being SIS for each depend
ent as the result of the Increase IRON
5000 TO $500 in the exemption on nc
count of dependents.
If you are married and your net IN
come In 1921 was $1,000 or less, how
ever you ge1 still further reduc
ton In taxes as the normal exemption
for married men In this class ma
Ebeen Increased from $1,000 to $2ooc
,Single men are given no additional
redemption and can deduct only $lO0
from their net income.
Whether you are single or married
" Won made n gain from the sale o
capital assets, such as buiidln
Or stocks or bonds, you can pay Ia
tax on this gain at the corporation II
come rate OF - IL per cent, tnstea
OF at the surtax rate If you 10 cleo
II your income Is such as to put yo
In the surtax paying class you WI
nay at the new rates, which becom
effective Monday and which provid
for some reduction all along the lin
with the maximum at 30 per Ger
on 5000 600 instead of 90 per cent o
81, 100000 or more.
Some classes OF business, big an
little. get some relief under the ne'
tax tlll. but other classes VIII nav
their taxes increased. Corporation
which did not fall within the exces
matchmaking class during the wa
will have their taxes advanced throug
the increase Of 10 per cent In Tn
rornoration income tax. Corporation
falling within this class include Tn
railroads and public utilities, the u
come of which are regulated by fedcl
a, or state commissions through III
control over rates.
The excess profits tax is reneAie'
effective Monday, hut the result WI
not he reflected in federal revenue
until the calendar year 1923 "a neg
year this tax will be paid on the baSi
of the profits made In 1921. Likewls
corporations will not begin paying q
the increased normal income tax rat
until 1923.
Many Of the special OF excise ta1
! es imposed upon manufacturers
many lines of business also went b
the board Sunday. The trainers OF th
new tax law believe this will fghte
the burden of the public generally a
they hold that these taxes, with br
. few exceptions, have been passed OF
Manufacturers who have their taNe
repealed are those turning out chew
ing gum, articles made of fur. musici
, Instruments, sporting goods, incudln
billiard and pool tables and ball
'eHs""e hoatS and canoes costing les
than 500 each; electric fans and thei
rs notifies and jugs.
Has Model OF Old lronsdes