Every evening, Wilmington daily commercial., 1922-01-02
MANY TNESCUT OUT.
UNDER NEW MEASURE
OM IN Effect Yesterday Eases
Materially on Pocket Books
OF Consumer.

Washington, Jan. 2.--Changcs IN
Ecdrral tsxc~ voted by Congress Nst
month are now IN fun fofcc. Here IL
how they viii Affect the citizen;
Wh,n vou ride on n railroad train
ur an inland or coastwise steamer you
no longer VII have 90 pay the Gov
ernmcnts per cent of the amount az
your fare and per cent ~ the cost OF
your SCAT. berth or etatcroom.
Whom YOU ship freight you win not
hc osao-scd an extra Z per cent of the
eOsi i.i,c,yiso. YOU can send packages
h, express 90 eorccl post without hav-
ina 60 10y n "war ,aN.'
When ,cu visit the corner drug
store Cor bottle of proprietary mcdi-
slno. a tufs of tooth paste, a toilet
preparation or the Hike you viii escape
the stamp taxes. g.
Whom you 40 60 a soda fountain YOU
~sll ne lonEcr nnd Uncic sam holding
out hls hand for cent ON each 10
e,nis or fraction 20 that amount that
yon pay thc clerk for a drink or a
plato ~ ice cream.
\ ,ou want 60 wcar a pair of shoes
costing moro than SIC or shirt cost
me moro fhan So ycu viii not have TO
nay a taN. Those ANA all of tho other
so.cNiied luxury tqNes onN'lcth,ny, as
we'll as On umhrcllas psrasols picture
frames trunks. valiscs. pockcthooks
Ac.. 40 into tho Discard.
" you live in a place that Stili can
huasi uf "a ton-cgnt movie show or 9th
"a place ~ amusement. vou VIII not b.
assessed a penny tax. N tho charges
exceeds 10 cents. however. YOU viii
continue O. nay ca levy az the present
ratio of a cont for ca~h 10 cents or
isuciicn.
.Nll heads of families with dcpen-
dents will SGT "a siiEht reduction in
their income taSvs during the new
year. the extent being s. for each de-
pendent as result of tho increase
irom $500 to si0o IN the exemption on
account uf dependents.
n you arc married and your net in
game in 1921 was s. ooo or less. how
ever. you win ryt q stili further re-
ductiun in taxes as tho normal eNenlp-
ton fur married men iu this class has
itecn increased from $4,000 60 s25O0.
single men are giyeu no additional eX-
tmption and cart deduct only $1,000
from their net incomes
Whether you arc single or married.
% you made gain from the sale of
capital assets. such as n building or
stc'ks or BONDS you can pay the tax
on this gain az tho corporation rate ot
ia's per cent, instead ~ az the surtaN
rate % yOu So elect.
n your incomc is such as O. put YOU
lu the surUaN Iaying class YOU Will
pay Ia 1922 81 the old Wal rates hut
ln 1898 you Will iay az th, new rates.
which lcc1nio elective tomorrow and
which provide for somc rvslction all
alOng the unc with the maximum at
sn p,r cut on ssoo ooo instead 20 s.
ltg cent uf Sl ooe coo .r more.
Somn classcs &C business. big and
iIlflr. rcCcifc reiitf uudcr th, new tax
llil but other classes viii haNc thcir
taScs increased Corporations which
di1 NOT fan within IN" excess profit
making class during the war win have
their taxes advanced through the in
crease 90 is pet cent in the corpora-
ton income taN. Corporations within
this class include the railroads and
public utilities. tho Incomes ~ which
uro regulated hy Federal or state com.
missions through control over rates.
Tho cxccss profits tlN s. repealed
bui the result will not o., reflected ir
iA'icrnl revenues uuuu The calendar
year ie23, as next year this tax vii
nc paid GA the hasis ~ the proftl
made IN 1921. idkewise corporation
wil not hegin o. pay az the increase,
normal Income tax rate until 1898.