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Show TAXING THE NATION FOR WAR PURPOSES Those who are not caught by war taxes scarcely realize how far reaching reach-ing 'is the call on the wealth of tho country in keeping up the finances i which aro necessary to the successful : prosecuting of the war. The Standard received a summary of all federal taxation measures, as fol lows: CORPORATIONS. Capital Stock Tax Act of September Septem-ber 8, 191650 cents per each $1000 fair value capital stock outstanding, less exemption of 99,000. Railroad earnings capitalized at 8 per cent in arriving at fair value of stock. For company showing deficit, book value of property is basis. Lessor and non-operative non-operative companies aro not liable. Effective January, 1917. Income Tax Commencing with calendar cal-endar year 1917, rate is 6 per cent on net income. Dlvidonds received subject sub-ject to 2 per cent tax only. Credit allowed al-lowed for excess profits tax. Excess Profits Tax Applies to net income for taxable year in excess of average net income for pre-war years 1911, 1912 and 1913, such pre-war profits prof-its not to exceed 9 per cent on capital used in business at beginning of taxable tax-able yar nor less than 7 per cent; also specific exemption of $3000. More than exemption and not more than 15 per cent of capital used In business 20 15 to 20 per cent of capital used in business 25 20 to 25 per cent of capital used in business 35 25 to 33 1-3 per cent of capital used in business -15 More than 33 1-3 per cent 6f capital cap-ital used in business . 60 No credit allowed for Income or excess ex-cess profits lax. Special provisions for companies having on invested capital or organized organ-ized since pre-war period. Capital used in business approximately approxi-mately equals par value capital stock plus undivided profits at beginning of year, less any investments the income from which is not subject to tax. Special Spe-cial provisions as to investments in liberty loan bonds. Effective January I, 1917. Tax on Undivided Profits Ten per cent on surplus for year not used in business or invested in liberty loan bonds and remaining undistributed more than six months "Sfter close of fiscal year. Effective with calendar year 1917. War Stamp Taxes Principal items likely to affect companies: Issuance of bonds, 5 cents per $100 par value. Issuance of capital stock, 5 cents per ?100 par value. Transfer of stock, 2 cents per 100 par value. Conveyances, 50 cents per $500 consideration. con-sideration. Also stamp tax on steamship tickets to foreign ports, etc. Effective De- v cember 1, 1917. War Tax on Facilities by Public 1 c Utilities Three per cent on freigh! charges. ? One cent for each 20 cents paid ex press companies. I Eight per cent on passenger fares I 35 cents or over. Five per cent of amounts paid for transportation of oil. Five cents for each telephone or telegraph charge over 15 cenls. Ten per cent on amounts paid for seats and berths. Tax paid by payer of transportation charges. Effective November 1, 1917. Same section al6o provides for tax on life, fire, marine and casualty insurance premiums, about 1 per cent per $1. Withholding of Income Tax at Source In general, -withholding of Income In-come tax at source has been discontinued. discon-tinued. Exceptions are made in case of income paid non-resident alien individuals indi-viduals and corporations. Amounts withheld in 1917 to date to be refunded. refund-ed. In case of tax-free bonds, interest thereon to be paid without deduction to bondholder. Company obligated to pay income tax, 2 per cent thereon, where holder of bonds is not exempt from Incomo tax as provided in act of September 8, 1916. In lieu of withholding withhold-ing at source, corporations are required re-quired to furnish report to government of all salaries, rentals, etc., in excess of $800 per annum and interest paid in any amount, INDIVIDUALS Incomo Tax Single person pays 2 per cent on net Incomo betweon $1000 and $3000, and 4 per cent on net incomo in-como between $3000 and $5000. Married Mar-ried person or head of family pays 2 per cont on net Income between $2000 and $4000, and 4 per cent on net Incomo In-como between $4000 and $5000. Additional Ad-ditional exemption allowed married persons, of $200 for each dependent i nlld less than 18 years of age Surtax In addition to normal Income In-come tax cf 4 per cont: per C0nt on-net Income between $5000 and $7500. '-'ween .TJT por cent on net Income between $7o00 and $10,000. " . Thref, per 06,11 h net Income be- tween $10,000 and $12,500. Four per cent on net income be tween $12,500 and $15,000. Five per cent on net income between be-tween $15,000 and $20,000. Eight per cent to G3 per cent on net incomo over $20,000. Credit allowed for excess profits tax Returns Every single person having hav-ing net hicome over $1000 per annum has to file a return; also every S $2000PerSOn DS Det inCOmo over rXJ?T ,d- tax is navable on or before be-fore June Id, and annually thereafter ?"re?fi?.iVe iDCOme fr ;3S Excess 'Profits Tax For individ uals having business with invested capital, provisions are same as for corporations, except that specific e omption is $6000. y lIC ex tallfininM,VihUa- haS no tested capl-Ul capl-Ul in his business, excess profits tax is 8 per cent on not over $6000 Date effective and dates of retumB and Payment same as for income tv Liberty bonds-Liberty bonds of fciSS,U,CS be nsidered Z . capital capi-tal used In business in arriving atT cess profits tax exemption E GX Income from first Ibrmh in from all federal taxation Xempt nrI?SnnnVr0m Second i68u In excess sras sz "s'B- oo |