PREPARE YOUR
INCOME TAX
RETURNS NOV
The signing of the six-billion-dollar
revenue bill yesterday by President
Wilson, and the receipt on the last
mail of blanks for the payment of in
come tax are facts which serve to re
mind the people of Cordova that they,
in common with the people of the rest
of the country, are now called upon
to pay the cost of the war.
As the income tax must be paid to
the collector of internal revenue at
Tacoma prior to, March 15, it behooves
all citizens to at once make provi
sion to comply with the law in order
to avoid the penalties prescribed for
delinquency in this matter.
The filling out of these blanks in
accordance with the law is no small
task, and Cordova citizens should lose
no time in acquainting themselves with
the details and taking the necessary
steps for the payment of the tax in
order to facilitate the business of the
government.
Provisions of Revenue Bill
Except for slightly increased war
excess profits rates for 1919 and cor
poration income tax rates for 1920,
virtually all the rates in the bill signed
by the President yesterday, which
without doubt is identical with the
conference report agreed to by both
houses of congress some days ago.
The principal rate increases agreed
to in conference, according to a recent
Washington dispatch, were to raise
the corporation income rate for 1920
from 8 per cent to 10 per cent, and an
increase from present to 65 per cent
in the second “bracket” or sliding rate
on corporations’ excess profits for this
year. The 80 per cent war profits tax
for this year was included, and upon
insistence by the house conferrees ex
tended to 1920, but made applicable
next year only upon such profits from
government war contracts. The excess
profits “bracket” rates of 20 and 40 per
cent for 1920 also were approved.
Virtually all the so-called relief pro
visions designed to prevent hardships
in imposition of the corporation taxes
were adopted.
Income Tax Rates
The individual income tax rate pro
jrtded In the bill is S*5»r cekt this year
and 4 per cent thereafter Jon the first
$4,000, subject to exemptions of $1,000
for single and $2,000 for married per
sons, with additional exemption of
$200 tor each dependent minor. The
individual surtaxes, ranging from 1 per
cent on incomes between $5,000 and
$6,000 to 65 per cent on more Ilian
$1,000,000, are also included in the
measure.
Other provisions of the revenue bill,
adopted as “riders” and included in
the conference report, are as follows:
Levying a prohibitory tax on prod
ucts of child labor.
Restoring pre-war postage rates on
letters and post cards July 1 next.
Providing a pay bonus of $60 for all
persons in the military establishment,
officers and enlisted men alike.
Extending the Reed “bone dry”
prohibition law to the District of Co
lumbia.
Increasing from $25 to $1,000 the
tax on those dealing in Intoxicants,
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including ‘'stills," in prohibition terri
tory.
For taxation of salaries of federal
officials, including the President and
judiciary, but not of state officials.
For submission of all government
contracts by contractors on demand
of the internal revenue commissioner.
For exemptions of 20 per cent to
oil prospectors.
Establishing an advisory tax board
of six members in the treasury; and
Restricting the sale and use of nar
cotics by strengthening the Harrison
drug act.
Use Old Credit System
In agreeing upon war excess profits
taxes (confined to corporations) the
conferrees struck out the house alter
native plan to levy on war or excess
profits according to the highest yield,
adopting the senate composite plan.
The pre-war period standard of calen
dar years of 1911, 1912 and 1913 was
retained, as was the system of credits;
corporations with income less than
$3,000 are exempted. Other limita
tions are for a maximum excess profits
tax of 30 per cent this year and 20 per
cent in 1920 on incomes under $20,000,
plus 80 per cent in 1919 and 40 per
cent thereafter on incomes over
$20,000.
Estate taxes are imposed at rates
lower than existing law.
With a general exemption of $50,000
the new rates range from 1 to 25 per
cent—the minimum on net taxable es
tates under $50,000 (after deuction of
allowances) and the maximum of 25
per cent on estates of $10,000,000 and
over. The existing graduations range
from 2 per cent on estates under $50,
000 to 25 per cent on those exceeding
$10,000,000.
Railroad Levy Lower
The provision for taxes on trans
portation and other public facilities,
effective April 1, reduces from 10 to 8
per cent the levy on seats, berths and
state-room accommodations in sleep
ing or parlor cars, or on vessels; fixes
the rate on telegraph, telephone, cable
and radio messages at 5 cents on those
costing 15 to 50 cents, and 10 cents
on those costing more than 50 cents,
instead of the present 5-cent flat
charge on messages costing 15 cents
and more, and imposes a new tax on
private or leased telephone or tele
graph wires, except press wires, of 10
per cent of rentals. In fixing the pas
senger transportation taxes the con
ferrees exempted commutation trips
of less than thirty miles or fare paid
under 42 cents.
Beverage Taxes *
•S
Beverage taxes, contingent on pro
hibition, as adopted, are:
Distilled spirits for non-beverage
purposes, $2.20 per proof gallon, the
present rate; distilled spirits, manu
factured, imported or withdrawn for
beverage purposes, $6.40 per gallon,
double existing law, but with a “relief”
vision suspending certain charges on
spirits held in bond by prohibition;
beer and other fermented beverages,
$6 per barrel, double present law;
wines, double existing rates, based on
alcoholic content, also with a prohibi
tion "relief” provision permitting dis
tillation of wines for industrial pur
poses ; cereal beverages or “near
beer,” 15 per cent on sales, a new
tax; grape juice, ginger ale, root beer,
pop, artificial mineral and carbonated
waters and beverages and similar soft
drinks, 10 per cent on manufacturers’'
sales; natural mineral waters, 2 cents
per gallon.
A new tax, effective in May next,
is 1 cent on each 10 cents or fraction
of retailers’ sales of ice cream, soda
water, sundaes and similar confections
or drinks, to be paid by consumer.
Cigar Rates
Cigar rates range from $1.50 per
thousand to $15 per thousand, a 50
per cent increase on cigars sold In ex
cess of 20 cents each. Cigarettes are
taxed $3 per thousand instead of $2.05
on those weighing not more than
three pounds per thousand, and $7.20
per thousand Instead of $4.80 on cig
arettes weighing more.
Tobacco and snuff are taxed 18
cents a pound, an increase of 5 cents.
Stringent provisions are included to
regulate dealers in leaf tobacco.
Amusements
Amusement admission taxes, effec
tive April 1, were increased only in a
few instances, the general rate of 1
cent on each 10 cents or fraction paid
being retained.
Club dues are taxed 10 per cent upon
members of organizations charging
more than $10 annually.
Excise or manufacturers’ sales taxes,
including so-called accessories, cover
ing a wide range of articles, include:
Automobiles, truck's and wagons, ex
cepting tractors and their tires and ac
cessories, 3 per cent; automobiles and
motorcyles and accessories, 5 per cent;
pianos, organs (excepting pipe or
gans), players, talking machines, mu
sic boxes and records, 5 per cent.
Sporting or athletic goods, etc., 10
per cent; chewing gum, 3 per cent;
cameras, 10 per cent; photographic
films and plates, 5 per cent; candy,
5 per cent; firearms and portable elec
tric fans, 5 per cent; thermos bottles,
5 per cent; fur articles, 10 per cent;
yachts and motor boats for pleasure
purposes, and canoes, costing more
than $15, 10 per cent; toilet soaps and
soap powders, 3 per cent; sculpture,
painting, statuary and other art works,
10 per cent, with tax exemptions for
those sold to educational institutions
or public art museums.
Semi-Luxury Taxes
Semi-luxury taxes of 10 per cent, ef
fective May 1 next, are retained, al
though subject to modification later
by separate resolution. They are to
be charged consumers of high-priced
articles of personal wear, and return
able to the treasury by retailers. The
10 per cent tax is levied on the excess
paid above coat standards prescribed
for various articles.
Jewelry and imitations, precious
stones, clocks and watches and siml
lar articles are taxed B cent, ef
fecti+e April 1, when solddealers
Moving picture lessees or licensees
are taxed 5 per cent of their total
monthly rentals in lieu of the presenl
footage tax on films.
-♦
Steve Oros has purchased John Ol
son’s shoe repairing outfit and Is non
ready for business at Tom Hubbert’i
tailor shop. 18-6:
I......................................
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Mr. Business
•:•: :g
Man
S £
I 1
%
•jjj *;J
By the recent addition of many new |
type faces and other equipment we have I
made of our JOB DEPARTMENT one |
of the finest in Alaska. We are now in |
| a position to handle your orders with I
even more neatness and dispatch than |
| before. How about that order for sta- §
tionery you were wanting right away? 1
| I
| Just step to the phone and call us— §
we will do the rest.
1 I
Prices? Well—, you will find them I
always RIGHT. |
I 1
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Cordova Daily
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1 imes
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I Cordova
• —
•
S The City Beautiful
• Help to keep It so by using a
• Garbage Can. Plenty of them at
•
•
• CORDOVA
• SHEET METAL WORKS
• Phone 143
There's a Reason Why
People Go to the
’FRISCO CAFE
DAD’S THEREI
FOR SALE
New Boat Hulls
Fish and Clam Power Boat
Hulls now ready at shop on Sec
ond street, next to jail building.
E. D. LACY
!_
i MINING MACHINERY MARINE HARDWARE CANNERY SUPPLIES |
I--"MARINE ENGINES-1
I l IN CORDOVA STOCK 1
1 NEW PACIFIC NEW CLAY ANDERSON MILLER
I The World’s Recognized Fishermen’s Engines, Medium and Heavy Duty, Four-Cycle, Extended Bases
I NOTICE.—We are making new additions to our Machine Shop in Cordova, which before April the first will be complete, and comprise the fol
1 lowing new equipment: One 18-inch Monarch Lathe, 16-foot bed; one 13-inch South Bend Gap Bed Lathe; one Wilmarth & Morman Universal
I Grinding Machine; a Vulcan 60-ton Hydraulic Press; one Buffalo Boiler Plate Slitting Shear; a Buffalo 4-inch Furnace; one Oster Pipe and Bolt
B Threading Machine; a Becker-Brainard Milling Machine, 20x80-inch table; one Baker Key Sea ter; two Buffalo Upright - Geared Drilling and
I Reaming Machines; a Universal Wood-Working Machine, and many other electric and universal hand machines, including an Ox-Weld Acety- |
I lene Welder and Detroit Electric Hardening Furnace.
Id * •
I Harmon Machinery company, inc.
I CORDOVA. ALASKA
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