The Bennington evening banner. (Bennington, Vt.) 19??-1961, 1922-01-06
FEDERAL TAX CHANGES
ARE NOW IN EFFECT
Many Eotheriome Little Taxes Taken
or But Actual Reduction
slluht

ated Press Changes IN federal taxes
voted by Congress are now In force
Here Is how they viii affect the Gil.
zen:
When you ride on a railway train
or an inland coastwise steamer you
no longer viii lave to pay the govern
meut per cent Of the amount OF
your fare and per cent Of the cost 0f
your seat, berth or stataroom
When YOU ship fre ght YOU will not
be assessed az extra 9 per cent OF the
cost Likewise YOU can send pack.
ages by express or parcel post without
having to pay a war tax"
When you visit the corner drug
store TOR bottle Of proprietary medi-
cine a tube OF tooth paste. toilet
preparation Ur tie Ike you VIII cs-
cape the stamp taxes.
When YOU 80 TO 8 soda fountain You
vii no longer find Uncle sam hold
ing ont his hand for cent On each
10 cents or fraction Of that amount
that you nay the c.erk for q drink or
a plate of ice cream.
II sou want 20 wear pair OF shoes
costing more than so or o shirt cost
ing moro Than SO you viii not have TO
pay a tax These and all nt the other
so-called luxury taxes on clothing. as
we'll as on umbrellas parasols, picture
frames. trunks. vahses, pocketb0oks,
etc, 90 into the discard.
II you live IN a place that still can
boast OF a ten-Ccnt movie show or
other place Of amusement, You VIII
not be assessed penny tax. II the
charge exceeds 10 cents. however, YOU
win continue to pay levy ut the
present rate OF cent FOR cacI 10
cents or fraction
All beads OF families with depend
onts will get slight reduction In their
income taxes during the new year
the extent being 81 for each depen.
dent MS result OF the increase from
$500 to $500 in the exemption on ac
counts ot dependents.
u YOU are married aud your net I'M
come in 1921 was $4,000 or lcss, how
eve. YOU will get still further re-
duction IN taxes as the normal cNemp-
tion for married men IN this class .las
been increased from $9.000 10 $2,500
single men are given no additional ex
emptlon and eau deduct only $1,000
from their net incomes.
Whether YOU are single or married
II you made a gain from the sale OF
capital asfcts such as q building or.
stocks or boHda YOU can pay the tax
on this ga,u at the corporation rate OF
IL ~ per cent, instead Of al the sur
tax rate u you 80 C Get,
II YOU income IS such AS TO put YOU
IN the surtaN paying cluss YOU viii
pay In 1922 at the old war rates, but
in 1928 you will pay at t'e new rates
which become effective tomorrow ana
which provide for some reduction an
along the limo with the maximum al
so per cent, on 100000 instead OF So
per cent oil Sl,000,000 or more
Some classes OF business, biz and
little, receive relief under the new
tax bill, but ether cases Will have
their taxes increased Corporations
which did not iall wi.'ln the excess
pront.making class during the war
will have their taxes advanced
through the increase of - per cent
in the corporation income tax. Cor
porations within lhis class include
the railroads and public utilities, the
incomes of y|iCh are regulated br
federal or state commissions through
control over rates
The excess profits taN is repeated.
effective tomorrow. hut the resu {
viii not be reflected IN federal re9c'
nuos unit, the calendar year 1873, as
next year this taN will be paid ON The
basis Of the profits made in l9-L
Likewise corporations will not begin
TO pay az the Increased normal income
tav ratio rate until 1873,
MANY Of the special or excise taxes
imposed upon manufacturers IN var
ious lines OF business also by the
hoard tomorrow. The framers OF the
new tax law believe i.'is viii tighten
the burden OF the public generally, as
they hold that these taxes with leW
executions, have been passed on
Manufacturers who have their taxes
repealed ave those turning out chew
ing gum, articles made of fur. must
cal Instruments. sporting goods M
Guiding billiard and pool tables ana
balls. pleasure boatS and canoes cost
ing less than 500 each. electric. fans
and thermos hottips and Jugs.
Other taxes which come off include
those on insurance premiums and on
bonds OF indemnity and surety. sharp
reductions are male IN the taxes on
covnnt and corbonotpn hpvorouaa gnld