The Semi-weekly Madison County Democrat. (London, Ohio) 1923-19??, 1932-06-07
NEW TAX SCHEDULES

The new tax schedules of the mil
lion-dollar revenue bill in its final
form are:
Individual income tax rates:
Normal
Net income, first $4,000, present,
/ u per cent; new, per cent.
$4,000 to $4,000, present, percent,
new, per cent.
Above $4,000, 5 per cent, new 8
per cent.
Surtaxes
The new schedule begins at ] per
cent on income over $4,000, and
graduates up to maximum rate OF
55 per cent on incomes in excess Of
81 100000.
The present sultax schedule be-
gins at ! per cent on income in ex-
cess of $4,000 and graduates to a
maximum of 20 per cent on income
over 100000.
Married persons, present $500;
new, $2500.
Single persons, present $500; new
$1,000.
Each child, $400.
Earned income allowance, present,
25 per cent; new, none.
Corporation income rates-Present,
IL per cent; new 13A per cent; l412
per cent for consolidated returns.
Inheritance taxes-Present, gradu
ated scale from per cert on estates
in excess Of $4,000 to maximum of
20 per cent on estates in excess of
$10,000,000; new, scale begins at |
per cent on net estates in excess of
$4,000 and graduates to As per cent
on estates over $10,000,000
Gift tax-Present, none; new, be-
gins at three-foulths of | per cent
on gifts of more than $4,000 and
graduates to maximum of 331s per
cent over $10,0O0,O00
Import Taxes
Oil, one-half cent q gallon.
Coal, So a ton.
Copper, cents a pound.
Lumber, SO thousand feet.
New Excise Taxes
Lubricating oil, 6 cents a gallon.
Brewers wort, Is cents gallon.
Malt syrup, cents a pound.
Grape concentrates, 20 cents a
gallon.
Toilet preparations, 10 per cent
1 (tooth pastes, toilet soaps and dem
trifices, 5 per cent?.
Furs, 10 per cent blouse Ian
guage).
Jewelry, 10 per cent (articles sell
ing for less than So exempted).
! Automobiles, passenger chassis, 3
per cent; trucks, 2 per cent; parts
and accessories, per cent.
Automobile tires, 2 cents a pound.
Inner tubes, 4 cents a pound.
Radios and monographs, 5 per
cent.
| Mechanical refrigerators per
! cent.
Sporting goods and cameras, per
cent (aerial cameras exempted).
Firearms and shells, 10 per cent.
Matches, wooden, 2 cents per
thousand; paper, Y cent q thousand
Candy, 2 per cent.
Chewing gum, 2 per cent.
Soft drinks: Cereal beverages, =.
cents gallon; unfermented grape
juice, 5 cents a gallon; unfermented
fruit juices, 2 cents gallon; still
drinks, 2 cents a gallon; mineral
waters, cents gallon when price
is over 121a cents gallon; fountain
syrups, 6 cents a gallon; carbonated
gas, cents pound.
Gasoline, / cent gallon, paid by
refiner.
Electrical energy, 3 per cent, paid
by buyer of energy.
i Miscellaneous Taxes
j Telephones, 10 cents on calls OF
] so cents to 81; Is cents on 81 to So
and 20 cents over So.
Telegraphs, per cent on all mes.
sages.
Cable and radio dispatches, 10 cent:
on all messages.
. Leased wire, S per cent.
. Admissions, 10 per cent on al
tickets costing Al cents and over.
Oil transported by pipe lines,
per cent.
Safe deposit boxes, 10 per cent
. paid by renters.
. Bank checks, cents each.
. Yachts and boats, graduated Ii
cense tax free from $40 to 5000.
. Postal Rates
) First class, 3 cents per pound