Show STATE INCOME TAX PROPOSED I BY HOUSE BILL Sliding Scale o of From 1 to 6 Per Cent Assessment Is Provided I may pa pay an income tax at the I rate of oC 1 per cent on incomes of up to 6 per cent on incomes of or personal property prop tax to bo be deducted before the income tax Is collected I if it the bill providing an income tax Introduced introduced introduced Intro intro- II In tho the House yesterday by Representative Representative Rep Rep- e Masters become a law The Tho bill was drawn b by D. D A. A Skeen and A. A H 11 Parsons Under its provisions it Is expected to for school purposes over O and above what isnow Is la now no raised by the present rate of or taxation taxation tax tax- allon will be bo raised I Tho The measure Is taken largely from tho the Wisconsin 1 income tax law under which Is raised approximately Un Under er tho the proposed law the tho rate I on the first 1000 of or taxable Income or fraction thereof is 1 per cent Then hen the rate advances quarter one-quarter of ot 1 per POl percent cent up to incomes of or Above this I Ithe sum until an Income of 1000 1 Is reached tho the rate advances one half per percent percent perl cent for Cor each 1000 and In excess ot oi ot the rate Is IJ C G per cen cent t More MoreOn MoreOn II Corporations PRY lav orr- orr orrOn On incomes of oC corporations Joint stock companies and associations 2 per percent cent Is the rate on the first 1000 and the advance Is one half of or 1 per cent on each ach 1000 until is reached An income of oC Is taxed at G 5 i per cent and on incomes of or 1000 and above the tho rate Is 6 per cent Deductions are made upon Incomes ot or individuals as follows Total income up to and Including OO to husband and wife 1000 to each child chUd under tho the age e of oC IS years ears and antI for Cor each ach additional person who is supported In making mak mak- making ing up the exemptions and the tho taxes payable b by persons who h together as members of one family the Income of wife and child under 18 years of ot age shall be added to that of or the tho husband and anel father Cather or the head of ot tho the family tamil and anel charged and assessed against g him The deductions mado mad to corporations or or associations are arc almost the same as those for Individuals There Thero AIs I Is however a a. clause which that the exemptions noted shall not apply to incomes derived from Crom sources within the stale b by nonresidents nonresidents nonresidents dents thereof nor to partnerships corporations corporations cor COT joint stock companies nor as as- as The state board bord of or equalization Is Charged with the assessment and to tho the extent provided provider with the thc collection of oC the tho tax Imposed b by this act The board Is Instructed to secure the names and I addresses of ot all Individuals residing within the tho state who have an nn income In excess of or GOO on or before beCore the tho first I day of or January 11 1920 1120 O. O |