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Show f HEAD AND LEARN HOW NEW U S. I TAX LAW WILL AFFECT YOUR PURSE m Beginning Tor?ay There Is No Extra Penny for Fountain Drinks, Married N Men Get Larger Exemption; Luxury Assessment Goes. B WASHINGTON. Dee. 31. (By the BH Associated Press) Changes In federal m tea noted by Congress last month will come into full force tomorrow. IH Here's how thoy will affect you Efl When you ride on a railroad train EH or on an inland or coastwise steamer. HKj you no longer will have to pay tho RH Kovcrnmi'nt eight per cent of the .i mount of your fare and clrcht per cent EH of tho cost of jour seat, berth or BS When ou ship freight you will riot he assessed an extra three per cent of BSI the cost. Likewise you can send pacR- BeM ages by express or parcels post wlth- Bga out having to give up a "war tax." K2 When you IsiJ. the corner drug store Rfl for a bottle of proprietary medicine, Bfl a tube of tooth paste, a. toilet prep-a prep-a ration or tho like you will escape BB the vexatious stamp taxes. H When you go to a soda fountain you B?S no longer will find uncle Sam holding Wpn x e out his hand for a penny on each ten cents or traction thai ' paj the 1 ( Ink fr a drink or ;i j1.i 1 HBl If you want to sport i pair of shoes VJ costing more than $1" 01 a shirt COBt- HJ , rif; more than $3. you wiil not have to. HH lay out a tax. These and all of the H39 other so-called luxury taxes on cloth- K9 ing. as well as those on umbrellas, 19 parasols sun shade, picture frames. IT-1 ink's; valises pocketbooks, etc., go M9 into the discard tomorrow I M) II 1 Wis BJH If you live in a place that still HmV can boast of n ten-rent movie show. Efl or other place of amuefmenfj you will Efl not be assessed a penny tax. If the BS charge exceeds ten cents, however. H I you win conl to paj i levy BfiVj tho present rates ot a cent Cor each HBV ten cents or fraction thereof. H9J All heads of families with flepertd- HH ents will get a slight reduction In tlx Ir BH Income tax during the new year, the BH extent being $8 for each dependent -JBfl as a result of the increase from $200 TB to $400 in the exemption on account ilMwB of dependents. jHfl If you are married and your net ln- iWBj eomo in 1921 was $fi,000 or less, how-j ijBAVJ ever, you will gel a still further redup-1 HS tion In taxes as the normal exemption IiBjL for married nu n in thi- - 1. i. lBAj Increased from $2. Olio to $2,.r,00. aBBJ Single men are given no additional Hffl exemption and can deduct only $1000 BEBJ Lruca their net Income. Bh r Whether you are single or married I. ou mauc a gain 111,1,1 ll" 0 "' capital assets, such as a building or , Flocks or bonds, you can pay tin tXl on this gain at the corporation Income rate of 12 1-2 per cent, instead ofat :ho surtax rate if you so elect. SOME GET HI L1E1 If your Income is 8UCh as to put you in the surtax paying class you wilj pay in 1922 at the old war rates, but In 123 ou will pay at tho new rates, which become effective tomorrow, anil which provide for some reduction all Be along the line With the maximum at1 SjM "o per cent on $200, OuO instead of CO ' BHL per cent of $l,000.ioo or more BB Some classes of business. lig and Bwl little, get some relief under the new BBB tax bill, but other classes will have 1 BBB their taxes increased., Corporations BJ V J which did not fall within tl xcess jirofit naUing class during the war. BHL will have their taxes advanced through 1 BBJ the increase of 2 1-2 per cent. In the I n i oi pot B falling ilhin this class include B r-ailro'ids and pi.! . ! V , come of which are, i fed-! BsA o. Im H Tho excess profits tax Is repealed ! BH effective tomorrow, out ihc insult v. ill BBJ not be reflected in federal revenues B until the calendar year 19J J as next BBJ year this tax will be paid on tin- l BC-fl .-is Ol' II.. p.'olll- l.fnle II. l'c'l. B wise coi porationa will not begin pay- BBfl Ing t the increased normal income tax rale until 192. BBB Many of the special or excise taxes i BBB imposed upon manufacturers In muny B9 lines of business also go b lie hoauis' BBJ tomorrow. The frasnrs of the m BBJ tax law believe this will lighten the BJH burden of the public generally as they hold that these taxes, with hut few BBJ exceptions, have been passed on. Man BBJ ufaeturers who have their taxes re- BBJ jiealed are those turning out chewing B gum. articles made of fur. -musical Instruments, sporting goods, including J billiard and pool table and balls, pleasure boats and canoes costing less than Jlofl each- electric fans and thermos ther-mos bottles and jugs. Other taxes which come off include Ihone on insurance premiums and on bonds of Indemnity and surecy, ivhiU I sharp reductions are made in tlm tax i es on ceie.il ami i l.on.i t ed beverages 'sold In closed ei.mtaini.-rs, on candy ami on works of art SOME M W rAXES Some new taxes are put on manufacturers, manufac-turers, the rate being ." per eni of the amount by which the sale price exceeds ex-ceeds given sums in the cases of carpets car-pets and rugs, trunks. Valises fitted toilet cases. pocketbooks, portable lamps and fans, other new taxes arc imposed on manufacturers of finished fountain sirups anil carbonic acid n'as Taxes Imposed under existing law which will be retained are: Tho- on telegraph, telephone, cable and radio messages; tobaccd, cigars ciparcts and snuff' admissions and dues: est. ilex automobile trucks and wagon-, other automobiles and motorcycles,, and parts ami accessories, therefore, cameras, cam-eras, photographic films and plates tother than moving picture films'. Ki.-earms. shells, and cartridges, hunting hunt-ing and howle knlcv dirk knives and daggers, sword canes, alillettoes, uid brass and metallic, knuckles smoking articles ' and automatic slot-device vending machines and weighing machines. ma-chines. JewelrJ and articles made of precious metals, except eyeglasses and spectacles, special taxe.s retained are those on brokers, pownftrokcrs, ship brokers, customs house brokers. Proprietors of theatres, museums, concert halls circuses, cir-cuses, bowlijlg alleys an i billiard moms, shooting palleries, riding academies, aca-demies, manufacturers of tobacco, ci. garn and clgarets, persons renting au-toniobiles au-toniobiles for hire: on the use of boats, and on the employment of child la- ! bor. Stamp taxes retained are those im-! posed upon bonds of indebtedness; capital stock issues; capital stock I - ib s, or transfer; produce, sales of on exchanges drafts or checks (payable otherwise than on sight or demand); promissory notes, conveyances; entry of goods at the custom house; entry for withdrawal of goods from the customs cus-toms house; passage tickets, powers of attorney) playing cards and foreign insurance policies |