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Show EXTEND EXCESS PROFITS TAXES WASHINGTON. Oct. 29. War excess profits taxes Imposed only upon corporations corpora-tions In the war revenue bill as It passed the house, were extended by the senate finance committee today to individuals and partnerships In trade or business. Under the committee's plan, individuals and partnerships, such as lawyers, doctors and other professional men. would not be subject to the war excess profits taxes, made applicable only to those actually engaged In trade or business. The extra tax proposed for individuals and partnerships would in effect amount to 12 per cent above the rates at ready, established. Details of tho amendment. Chairman Simmons stated, will be worked out to place corporations, Individuals and partnerships engaged in trade virtually upon an annual tax basis. One of the provisions of the new clause is that corporations with small or nominal capital and In which personal services are a larger factor than their invested capital, may elect to be taxed on the same basis iu partnerships. Changes In the basis of taxing insurance insur-ance companies and life Insurance were agreed upon by the committee. For the house provision for taxes on premiums paid on Insurance and Income and war excess profitH, imposts on capital stock of the companies, a complete substitute placing a tax of IS pat cent on the net income Of companies, was adopted. in computing the tax the committee agreed to allow companies to deduct A per cent of their menu reserve, taxes on renl estate es-tate owned and a flat exemption of fiMioii, |