Show TAX EXEMPTIONS PLAN EXPLAINED Treasury Department Tells How Ho Clause Will Wil Be Interpreted Bv Ily International l Now News CW Service Washington The The treasury treasur department department depart depart- ment has explained the tho tax Lax exemption limits on 4 and 41 per cent Liberty bonds ponds The total possible exemptions from Crom federal income surtaxes and profits taxes is The Tho following summary of ot tax ex exemption exemption ex- ex emption limits was given iven Five live thousand dollars in the a aggregate aggregate gate ate of ot first and second and nd s. 4 third and fourth treasury and war savings certificates Thirty t tto thousand n dollars onar of fl first t and nd iv J ta anu ana 1 S until two I years after atler expiration of or war as fixed by presidential proclamation Thirty thousand dollars donars in a aggregate gre- gre I gate of first and second Ha third and fourth Hs as to Interest received after January 1 1 I. 1919 until five rive years aft after r termination of oC war l Forty five thousands dollars in agI aggregate ag ag- ag- ag I of first and second Is IN and es and third as t to Interest re rc- rc after January 1 1 1 1918 1915 until two 3 years ears eaTa after termination of oC war this exemption conditional upon ori original inal subscription to and holding o on date dato of tax return of two thirds itAman us itA man many bonds of or the fourth LI Liberty berL loan Twenty thousand dollars In gate of or first and second and HH s and third and fourth Its as to interest inter inter- I est cst received after January 1 I 1019 1919 I conditional upon original subscription to and holding at date late of tax return of or third one as many bonds bonda of Victory loan All AlI Liberty bonds and Victory Victor notcH noten are ex exempt pt in hands of or foreign holder hold hold- C er ers Liberty and Victory 3 s are arc exempt ex exempt ex- ex 1 empt from federal state and local taxation tax tax- atlon except estate or or Inheritance taxes and andI 1 I and 41 per cent 1 are exempt ept from state local and normal normal normal nor nor- mal federal income tax I |