The Hartford republican. (Hartford, Ky.) 18??-1926, 1922-01-06
AK SCHEDULE
Is NOW OPERATIVE
Fountain, Train Fare, Freight And
Medicine Lcvies Among
Those Abolished.


Federal taxes voted by Congress last
month will come into full force to-
morrow. Here's how they will af-
feet you:
When you ride on a railroad train
or an inland or coastwise steamer you
no longer will have to pay the Gov
eminent per cent of the amount Of
your fare and s per cent of the cost
of your seat, berth or stateroom.
When you ship freight you will
not be assessed an extra per cent OF
the cost. Likewise you can send
packages by express or parcel post
without having to give up war
tax"
When you visit the cSrner drug
store for a bottle of pi pr e,ary medi-
cine, tube of totoh paste, toilet
preparation or the like you will es-
cape the vexations stamp taxes.
When you go to a soda fountain
YOU no longer will find Uncle Sam
holding out his hand for penny on
each 10 cents or fraction that you
nav the clerk for drink or a 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
clothing, as well as those on umbrel-
las. parasols, sun shades, picture
frames. trunks, valises, pocketbooks,
etc. go into the discard tomorrow
If you live in place that still can
boast Of a 1O-cent movie show or 9TH
er place of amusement you will not be
assessed a penny tax. If the charge
exceeds 10 cents, however. you Will
continue to pay a war levy at the
present rates of a cent for each 10
cents or fraction.
All heads of families with depend
ents will get a slight reduction in
their income tax during the new year,
the extent being So for each depen-
dent as a result of the increase from
5000 to $500 in the exemption on ac-
count of dependents.
If you are married and your net
income in 1921 was $4,000 or less,
however, you will get still further
reduction in taxes as the normal ex-
emption for married men in this class
has been increased from $4,000 to
S2,5OO. Single men are given no ad-
ditional exemption and can deduct
only $1,OOO'from their net icome.
Whether you are single or married
if you made gain from the sale OF
capital assets, such as a building or
stocks or bonds, you can pay the tax
on this gain at the corporation income
rate of 1914 per cent, instead OF at
the surtax rate if you so elect.
II your income Is such as-to put
you in the surtax paying class you
will pay in 1922 at the old war rates
but in 1923 you will pay at the new
rates which become effective tomor
row, and which provides for some re-
duction all along the line with the
maximum at SO per cent on 100000
instead of 65 per cent on 1000, 900
or more.
z 4
Some classes of business, big and
little, get some relief under the new
tax bill, but other classes will have
their taxes increased. Corporations
which did not fall within the excess
profit making class during the war
will have their taxes advanced thru
the increase of az per cent in the
corporation income tax. Corporations
falling within this class include the
railroads and public utilities, the in
comes of which are regulated by Fed
eral or State commissions through
the control over rates.
The excess profits tax is repealed,
effective tomorrow, but the result
will not be reflected in Federal re-
venues until the calendar year 1928
as 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 in
come tax rate until 1928.
Many of the special or excise
taxes imposed on manufacturers in
many lines of business also go by the
boards tomorrow. The trainers of
the new tax law believe this will
tighten the burden of the public gen.
orally as they hold that these taxes.
with but few exception, have been
passed on. Manufacturers who have
their taxes repealed are those turn
ing out chewing gum, articles made of
fur, musical Instruments, sporting
goods including billiard and pool ta-
bles and ball, pleasure boats and
canoes costing less than 500 each