Show U S WAR WARiE VENUE REVENUE X c Bill ill ILL REPORTED POUT r BY CONFEREES f Measure asure Increased to Provide Provide Pro Pro- vide Almost for Government J By International News Service e 4 W WASHINGTON Sept 29 After After more than a fortnight of work the conferences upon the war revenue bill mado made their report upon the measure tonight The bill h has s been increased to nearly near nearS ly The chief changes made are in the war excess profits taxes and the Increased increased in In- creased postal rates on first and second second sec see ond end class matter As agreed to the excess profits tax taxIs taxIs taxis Is a modification of the senate bill bUI The maximum and minimum exemptions exemptions exemptions were changed from 6 to 10 per percent percent percent cent to 7 to 9 per cent The graduated graduated grad grad- rate was altered from percentage percent percent- age of the deduction to percentage of the profits upon the invested capital As accepted the rates now in the bil bil are in Ia addition to the existing taxes Twenty per cent of the net Income In excess of the deduction provided for and not In excess of 15 per cent of the invested capital for the taxable year Twenty-five Twenty per cent of the amount o of net income in excess of 15 pe per ce cent t not in excess of 20 per cent of such capital Thirty V per cent of the amount of net income in excess of 20 per cent and not in excess of 25 per cent of or such capital Forty-five Forty per cent of the amount of net income in excess of 25 per C ce f ond d not in excess of 33 per cent of capital Sixty per cent of the amount of net income i in excess of 33 per cent of such C capital pital EXEMPTION FROM TAX Exemptions from the tax are comor com com- or fees received by state or ori i federa officers federal officers or corporations corporations corpora- corpora and nd individuals already exempted exempt exempt- ed under inder the act of September 8 1916 and incomes derived from the business business busi- busi i ness of life health and accident Insurances Insurances ances combined in one policy Issued on the weekly payment premius plan Corporations partnerships and in individuals sn- sn divi without capital or only a nominal capital are charged in the case of the individuals and partnerships partnerships partnerships partner partner- ships a flat rate of 8 S per cent on net profits above and in the case of or ofa ora a corporation the same tax on net profits above One very important matter settled was the definition of capital This has been modified so that the actual value of ot the tangible property paid In before January 1 I 1914 shall be considered If stock was issued the value aluc spoken of must not exceed the par value of the stock The Tho committee commit commit- tee also liberalized the value of good will and other intangible propertY prop prop- erty One cent was added to ordinary letter postage so that letters other than those sent from or to American soldiers and sailors would cost 3 cents This is supposed to go into effect thirty days after aCtor the tho passage o of at the tho act The second class postal rate has bas been changed to a zone system which begins July 1 1918 Reading matter will be charged between that date and July 1 1919 1 lJ cents per pound or fra fraction tion After July 1 1919 1910 the rate ratel I l be bp 1 1 cents per pound If tho the space devoted to advertising matter does docs not exceed 5 per cent or ot orthe the total spa space co of a magazine the tho i irate rate will be the same as if on reading matter But otherwise zone system comes into effect This is a complicated scale which eventually goes to 10 0 0 cents in the eighth zone after July 1 I 1921 TEXT OF INCOME TAX Following is the text of or the war Income tax sections adopted by the conferees That 1 In addition to the normal I tax imposed by subdivision A of or section section sec see tion 1 of the act entitled An Act to Increase the Revenue and for Other Purposes approved September 8 1916 there shall be levied assessed L collected and paid a like lIle normal tax I of 2 per upon the Income of every 2 individual a citizen or 01 r resi resident si- si I dent of the United St States tes received Inthe Inthe in inthe the calendar year 1917 and every calendar calendar cal cal- year thereafter Sec 2 2 That 3 in addition to the tho additional tax imposed by subdivision B of section 1 of such act of September September Sep Sep- 8 1916 there shall be levied assessed collected and paid a like additional additional ad ad- tax upon the inc Income me of every individual received in the calendar year 1917 and every calendar year ear thereafter as follows One per cent on Incomes of Two per cent on Incomes of Three per cent on Incomes of Four per cent on incomes of Five per cent on Incomes of Seven per cent on incomes of 20 Ten Ton per cent on Incomes of Fourteen per cent on incomes of Eighteen per cent on incomes of two Twenty-two per cent on incomes of II Twenty-five Twenty per cent on Incomes of Thirty per cent on en Incomes of four Thirty four per cent on Incomes of Thirty-seven Thirty per cent on Incomes of I Forty per cent on incomes of Forty-five Forty per cent on incomes of Fifty per cent on incomes of more than Taxes on liquor or beer are substantially substantially substantially sub sub- as passed by the senate Th The taxes on wines was modified in ac accordance accordance accordance ac- ac with house provisions with a slight increase Distilled spirits were left lert at The tax upon sweet wines was placed at 10 cents and the tax upon brandy used for fortifying sweet wines was altered from 1 to 20 cents The taxes upon syrups for soft drinks was altered They now stand below blow per gallon a cent 5 tax between and 2 S-cent S tax be between 2 U and 3 a cent 10 tax tax between between 3 3 and 4 cent 15 tax more than 4 01 a a. 20 cen cent t tax Tobacco taxes are aro practically mo same as amended by the tho senate There was however a slight increase upon the senate rate upon tobacco snuff and cigarettes The cigarette tax was placed at weighing not more than three pounds per thousand Playing cards are taxed 5 cents In Instead Instead Instead In- In stead of 8 cents per pack Automobiles are taxed 3 per cent of the sale price |