OCR Text |
Show New Tax Exempt Features of Liberties Tha anhject of xamptlon from Irroma tax on Intaraat from certain ' clae.9-a of Liberty bond la at tha ' momant of conalderahl Importance. iacially to Investor ' who bold . .U-rty bonds In lar a; a amount. Th cempttn prevtoualy allowed en an anuregata amount of 1116.-' . On of lha 4 par cent and . pr ccat liberty bond ceaaod to exist , rn Jnlv 2, It?-; "alao th apeclflc, exemption alio wad hotoVra of 30,-' 30,-' T, principal amount of f1rat.-acond 41 la no longer effective, havtni expired July 2. ?!. Th first Liberty loan a ar nn-rhA-iKed. belne; wholly axampt from both tha normal tax anu eurtAX tba - fain as befr. Tha intnrst from an averreajat amount of i) oO of tba 4 per cent a nd 4 It per cant L-l bar l y bond ta exempt from th surtax until July 3. 1 Purina; thi period tha Intirest from $S0Ot, artfagiat am omit ihowi, below 1 also ex-tmi'i, ex-tmi'i, maklna; a total of 9b,000.) Afto-r July t. 12, th only exemption ex-emption allowed will ba the first M and tha In terra from oO ag-grexato ag-grexato amount of tha 4 per cent, and 4t per cant Liberty bond a, irfgifury certificate of litclebledneaa ani treasury (war aavlnga certifi-t". certifi-t". Tiie abova exemption ehoull not be confnad with exemption from te normal tax. Th Internet from all I.tbe ly bond, treasury ccrtlfl-rfaj ccrtlfl-rfaj and treaaury (wkri aavliga cartlftcatea la exempt from tha normal nor-mal tax upon Individual and the fiat lax of J 2 Pr cant Ur""i Inrome of cornoratlona. Bhould. .rcwevar. an additional tax. much as exoesa profit tax, etc., be placrD t pon the Incoma of corporation. Liberty bond would of course not be exempt from auch tax: a tax of that nature belaa; noma what aJmilar lo tho surtax upon Individual. It la therefore Important that hotdera of largo amounta of Liberty bond rhfrk up the tax exemption atalua of inclr holdlnaja witnout Jtlay. |