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TULSA DAILY WORLD, SUNDAY, MARCH 2, 1919. 'A if: u If i 'I 1 1 a- Review of New Revenue Bill Specially Prepared for The World by Edward J. Dillon, Certified Public Accountant of Kansaa City. The new war revenue bill as re. Vised by the conference romnilttru and adopted by the house and aenuto February- 1,1, on thn Jtlh hmaniu a law. president Wllann sianed this . bill Immediately on bin arrival last Tuesday, when thn bill automatical!) beoitmo it lit. This hill Ik estimated to raise about $,n,00i,iio In I no or about 11.71(1 ouu, uoo mor than u ild In 1917. Thn , Income and war Hfnn profit te r( expected In reach 14,711,, 600.000 or about f l,a,iiin,noti morf than was rnlsed from thraa esme Uiti In 1I7. About 11.17100.00(1 wit ha raiaeil from special excise ami mlscellan aua taxes. llolh thn nnrmnl and mi rim linn been mtiterlslly Increiiacd ovnr 1917 and tbi J "I nnrmnl and surfnx ii to ) I do. Aon ha been Increased iv about double-. Tho rules on (tin rtceas and r exrosa profit tune luive hImii been In creased, mid i a estimated (but thi average roiorullon will pnv a III 11 over twice thH nmniini nf lines they paid In 1917 nil thn sums Income However, earn Individual rsae dif fers In thn amount of thn nt-erase In erenae, Invralnd iiiIiiI anil pie wiir profit entering In ln the situation -very materially. For a cnmparlaon. a corporation i Hh n $200,00(1 invested ciitlal inn) ftO.noo tint pmrit paid In 117 tx of 110.70 Tim niiinn i -m point Ion with Dm mu nil profits will pay In lain. If their pin wur profit wnrn lees than 10 prr cent of their Invent, rd capital, $2.'i,niin and If thn,r pro war profit wan 20 per rnnt they will pay 11(1,0(14, ir it wus a pnnnnrshlp of four niinl partners with thn wmt Invested rapltal anil tha mine profit, Inatrad of a corporation, thn total tax for HtH that thn four psrtnera would have tn pay, would bo 14,040 or II, 535 each. Tha payments are lo bn tnada In fnur Installments; (inn fourth at thn tlmn of filing return (which In March IK, fur calendar years) and enn fi-4th In thrnn nix ami nin mnnlhn from thn tlmn return1s filed, i Thn law main that wlmra an ax ) tension of tftna. In which to film re turn him hnnn (ranted at the request of -4hn taxpaynr, Interest will be ' charged at onn half of 1 par cant par month, front thn tlmn it would hv hnnn dua If no extension had been granted, Tha Income and excess profit ee tlona of thn law la rnlrortl lo January t. lit, and tha hlanaa for rnrporatlona and for Individuals with Inoomra of ovnr 15,000 will not bn da)(rlbu(d until about February Id, ndfio ganaral cttnnilnn of tlma will be given for filing tha owlnndar year raturtia dua March )fi. Tha traaaiiry dnparlmnuf, hownver, on February II lniued a regulation which will erva for all practical purpaaag aa an extension fop 46 daya. Thlt regulation glvee a rorporaqon parmlaalon In inalta a rough estimate on tha tai due, and detach tha latter of remittance which la part of tha near combined Income and tineas profits tax blanks, and sand same with check for one-fourth of tha to. tal estimated tag. Whan tha mun ' plated return la made up, adjust men ta can he made of any differ- ' en ens between the estimated amount paid on tha first Installment and thn mount that should have been paid according to the completed return. A etatement In, writing giving the reason for asking the extension of time must accompany the remittance. Individual taxpayers will be given (tie eama privilege whenever the ex tension la really necessary. There Is a provision In t tila new law that where the commlsnioner ehall ex amine the return, that any difference In the favnr'ot the taxpayer shall be immediately refunded, and any amount due the department ahall be paid on the collector's demand. f the collector Increases the lex, nd tha under statement was not due to any fail It ol the taxpayer, there la no penalty, but If It was due tn the taxpayer' negligence, but without intent In defraud, there ahall be added a tax of ft per cent of the total Wityount of the deficiency, plue 1 par cent Interest per month on thn antount of the Installment deficiency from the time each Installment was due. If, however, the under statement waa made with, fraudulent Intent, there ehall be added as part of the tag 50 per cent of the amount of the dnllclency, liitllfhluals. Individuals are not subject to the war rxcena profit lux, as corporations only are subject to Ihnnn provisions under this bUI. In 17 Individuals and partnerships, as well aa corpora tions, were subject to the ex'ae profit tjix. The exemptions are practically tha en me as In 111711,000 for a single pf-rwon, 11,000 for a head of'a family Or married pernon. and 1200 addi tional exemption for each minor Chl)l or dependent The normal tax on thn ft ret 14.000 bove exemptions Is 6 per cent, and ail over that umounl 13 per cent. The surlax aturta at IT.. 000. thn utiie ns In 1917. but the rates have been rutisldembly Iticreimed. The following few cjhii parUoiis "5111 show the Im-reiisn in tho tti normal and surtax of ltlK over 1(17; (On Income received from sulai lo.i, avnta, intereal and profits, but not front dividends. When purt of the Income Is derived from dividends, the lux will bo Ips than this table, for ivldcnds are exempt from the normal tax). o Muned on 3,000 exemption Amount. 6, 000.00 10,000 00 fO.000 00 DOC 1D17 I ono .1K.V4 4 1,1 so no 2.SX0 00 3 MO. 00 (I. ISO 00 1 A, I NO. 00 49;lM0.00 1 9 2.60 00 191 1 NU00 m:io on : cio oo 4. tun no ' 7,710.00 1 1,030 00 Sfi.OJO CO 141 1. Oil). 00 K 1.6 30 00 .ooo oo 40.(100 00 60,000 00 100, OOO. 00 200.000 00 600.000 00 While a fL'0.000 tni-ume tbtit illl not Includn any dividends would he taxed 12 610, the name amount of In come, when IO,000 of tho unmuAit was received In dividends, would be taxed only 11.4.10. Indlvliluiila will be allowed tills year to deduct all luaae Incurred ln venturer outnlde their regular busi ness when these ventures are entered Info for profit.. Thy could not deduct theae lowy under ttie 1917 law, un lesa their jiroflta amounted to as much a their lonntw. Individuals are permitted to de clare a tlnctki yea,r the same as cor point Ions, but their hooks mtiret bn closed 'ai the same date and clear ly reflect their income. J rrtnTnlilia, j Partnerships are not'eiibject lo thn ' arcs prof its tax as tbry a ere in 1917. 1'nder the new bill Hiey lire to mitko h return tor Infoi iiiii'i',n only, giving the ilct.ill of tin ,r m ' prrtfll. the naoieM of thi pJiilnri' nnd their prtt rata nlmrn nf llm pi"f Its riirtied. Thn Indlvldiinln when nuiknii; ll.elr tax reliirrm will iiirlnde lth their olher Income their pro rail nluiic nf tbn pnririemhii ,j,el pinfll. rn Kurdlesn of wlietln-r or lint tl.av- ire ilisliirlicd 4 irMirnlliiM. Tbn rmriiiiil t.i of c..r mr i: cww ! II per ceiil, wbu-ii is iluuliln that of thn 1917 (.. A npei'lul fieiiipllini of tJ inn) h ia been allowed coi pura I limn in ''tlia hill the Miilnn iiM ln,tlvilil,ila v, tio u i e rnsiTled or bet,! of l.iimh I 'orpiirntiona oolv ore miMrrl to I lu wnr i I'ni prod ia IMvhleli.lH len-lwil fiimi iilliec rnrpor.itiiiiM am ertnit froni in I'Olne and u il r cin ki priil.'n l.i uu 'iT Mm new bill. War I I'riiflt Tun The fitnl mid himii, liljrki'U .tic flKU'e.l III a NUnl .ir inimnir in Hie I9I7 exciax prof, I l.n iili.l the thud brsckol la the dlffel elice bl,ill Ibi Ifitaln of Ihe fnnl wo hi'iiiieiH. nii,l the lax I tut t would be tbn- If tin lax w fluureil iiinler Mm u i:e"i pioflt inei)ni,t Tbn emei pioflt let dml iii-' i',fi m are a IIOHil eeinptlnti pbit m r.'ii H p'l' rent of ln i-li', i.inl,il. i e gsrdlesa of what the re war f n t ixes of pi "fit In: h! be I IrM Itrm ki t " A tax of 30 per nut will I" ! v Ii', on Mm net Inmmn In rres of tho f'li-eifoUiK ili'iurllonn. that la not III excess of 110 per cent of thn In vented capital, Stiiiml llrni kcl. A tax of II.'. per rent will bn levied on Mm iiitmiint of ihe net income In I'li i'M i,f 2 0 per cent of the Invested capital. Third Itrsi k t. The suit! (if iiny I of Mm d f ferem e be'WfCII the flial to 1 1 1 ,1c U ' t . lldit the lotal i.f lb e llm if fluie, solely ii iiilt-r tb'e war i vre.a iinf;t lux War I ics I'nifll Tai In itiu llniia. If a i r,i i .1 1 ion wait In IniHlni'Sft durliin (he pi" war c,us of 19 11-11' or lit. Mien Ilia avernxn imi pioflt Tor Dial peiloil, plus I I OO'i. can be used MM w;ir cure-.i p;nfif lied ui-an, i:im or rti in ii 4 10 pi r r-wil of the .bfft'Fi lire of I lie Investe,) i lp,l,- ,1 1 the In i:llin:iilf of the I X l ! .- v.'ir ill) till' .iver.iue In.lli'e.l l:i,l.i of lie pr w :i r ,i I toil " If Ihe or pot a' l"li wls not In tnimneia one wln'le fir ilurniK Ihe pre w ar pi r ioi. nr If Mig avenge In come w'ls lias Mum 10 p'-r ecu' Mien i npcil.il eteoiption of I I on n plus Ml per cent of till' llivel'i',1 capital i an be used us n ileducnon The ileil ill I loos ii I e s,i l,t rm led ftnlil Ihe lolal nf Ihe liel Ini-moe Hod tl'e ri-llllllli'li't' !l l.l'il K'l p r ( Mil, Tha Mi. Id hi.nliil la Mm d ' t fei ence between Ihe tnUI of 111" f r it and Mei'Olid bt:lili'la mid the HII per cent of Die llirufiie llf'er tlja il i" I net ions II IIP been Hllh'r'M led War I ii-N I'roflt Tut I iiiilona A rlit po ail'ill w ho-- Iririinii' la due l,i Ihe petsiiluil in lUltlea of rhe irlnr!pal r:n k hnldet a, nitl wheie the lii rti nn-ti t ih not a ii tiii'iiine pro ibli-f'tiK f.i'-'"i, riMoi-s under the he.i.J nf ii pi-inuiiil cin'r,' rnr I'' rn i mo . nnd :i 'ot iiii;,ii in ihe wai ixci"a pinfl' III llnwiM'l. MlfV Wl l In. Ike out ilii' i in put ,i 'inn leliim Mir s.itoe iH a pirli.eihhlp whlrli la for Inror io.it Ion pin pi -i r -4 onl', iiinl the stni k Imlileia In in-iWiHK up tlieir Individ mil returns will udd their pro t.il.i shiie i.f Mis profits, whether ills lilliiited nr nnl if a pail of the biiHlni'ss of u corporation In excess of SO per tent of Us total net Io nium will ronstltute ii pi'isonul nerv lie rorporiition, tlien two returns Inay bn mude mil, ruin aa a partner ship und one lis u corporal Ion. ' A loipotuiion with ii net Income of 'Jii illin nr Irna shall In no rase bn oinpelleit to pay nVirn tlian i't per tent of i heir iir-t lin onto for war taxis. oil, .as ami Mlnliiir iiii'iidiii-iiia. Ill the r.iMe 1, a hnn I full nalo of iiiliien, oil, or n .is, w eiia. or any In loieai therein by a i urpnrHtlon. w hem Mm pi Hi' lpal v line of properly hns bei ri denionsi t nte.l by proapeet loj, poiiiton, iiinl illvcovery work iloim by the taxpayer, Ihe portbin of MliKyxi eaH ptiiflt I l d ie to tho K.i e, In not In enceed 2'l p'T relit of the selling price. It- ihe' property in above was owned In' no linl.viii 41, the O'.r'in wli not rxreed JO jiir 'nit of Ihe selling prion of s'n li propoity or In terest. An Individual or Corporation Mist developed or discovered an oil or ga well sines March 1. 1911, can take u depletion aUuwanvce, based upon thn fur market value of ths property at the data of itlmovury or within 10 days thereafter. in the ciian of leaoes, the dedsnlon allowed shall be equitably appor tioned between thn lenwor and leasee, such reasonable allowances to bn ap proved l the coinmlnsloner. ninlderlle Judgment will be nec rnttiry In arriving atln eijilliahlu iln prt elation, d " Incouia derived from gold mining lm not subject lo war excen profit t.LXi'e .Mlnxvllainiua l'ro InioVis. All Itileriwit paid or accrued by In dividual or corporations may bn de ducted under thn pew law. There wern condition under previous laws Mist prevented portions of tho In tercut from being deducted. Thn capital stock tax has been In creased to double tliat of 1917. and Mm exomptloiis reduced from 199,000 to li.000. Inventor loa. Inventorles are to bn taken accord ing in thn bent accounting method In vogue by the particular class of bunlnen. 1 would take this to mean that inventories ars to be takrn l cost or thn f.lr market Value ut the cloan of either the rulemUr or fiscal yeur. If Ihe taxpayer illacover by Mm time tin files his re I ill lie March that the price of the lut, rclwndlse baa materially decreased," he -n lower his inventory according to thn j decrease, and make hla return nm M) at bantis, by filing a bond for double thn amount of the djfernnra In the tax that would be due If Mm original figure worn turned In. Jf tin (loss ""I want to file a bond he can jiay Ins tax on the Original biiNia, and redetermine bis tax on supplementary return und ank for an ahatciirl ril, or bn ran wait until Mm end of the year and make a rede termined return, bnse.l on Mm ile crvas in Inventories or d.scnunt r funded on previous Males, hii.1 ank for a rerun:!. taiwral. Thn salaries of the president, eu prem court, l.'nlted Htalea judge and employes I but not aiate employes) are to be Included In gross Income. Holdlrr and aaJloia snlarirs in ex cess of 13.600 per annum are subject 10 Mm Inc niim lax. Thn undistributed profit tax pro vision ia eliminated in the new law, Inn Individual atockholdera where the profit are riot necennary to the hiusiiean, and l held for the purpose :f prevrntlg tbn Imposition of the surtax are- to be taxed on their in dividual Income. 1'rovkUon Is made for consolidated concerns by affiliated corporations sod two or more corporations are deeined to be affiliated if the Ktock w owned or controlled by thn gume interest. ' Information U to be furnishes? in coiiiieclion with ull payments) of 11 .hoi) or more .oil salaries, scnls, etc. " lliHi'lluiDtiiM ITovImIMiih (ontlnuil. Htock holders of record pwnlng 1 per cent or more of tha outstanding stock are to be alluwsd to examlns the annual return of the corporal lion upon making request of th commissioner, A tax of Id per cent on the enttm net proceed will be taxed wlmra children under 16 years of age luvu been employed In any mine or iiart or in any mill or factory which et, plpyes children under 1 4 years of hkv. Any dividends made during ti, first DO d'lya of any taxable year ur deemed lo le out of the earmnrs of Ihe previous jeur, 1919 anil riiihwijucnt Vcttm. IndlvtduaUt will be taxed 4 per cent normal lax on the first, l.tnni, above exeinpllons, andH per crn' above that iiinount. t'orponiUoiis will be taxed a flat 10 per cent. rorporatloti vl bn taxed for tho war excen profit taxes in 1,bo fust brucket of Su per ecu I of the net in. come, that Is not In cxcoms of i'tl pee cent of tho invented capitul und 411 per cetn on the amount In excels of iO per cent. No cominnit la made in reuanl to JncrcRKing Mm surtax and Mm rin will (ivldeiilly be the name as In 19 is. Evangelist Draws Large Crowds IM v. Sty f"n. (l:VANGl:l,IST JOHN UNDAIJ.) HEAR HIM SPEAK ON The Peace League and the United States What will the outcome be? Third anil 4 i rent lsKiun on Our Country In I'niplus y lly Fvangi-llat Tlmlall Conyention Hall Song Service 7:30-8 p. m. Ark your neighbor about tho oincnllon Hull IsNlun s. Ank any body who has Imvii tliorr wliul aiiswcr Jon gi't. 11 10 liitoriwt Is) grrat. l'aiplo am coining from Munkogto, Niipulp itml HlxV nrarby town. Muvcirant on fixit totlny IhHiIikI tlio rxt'iiiNi will take the stagr tomorrow. Ilrnr what tlx y are anil wlwt I coming. DON'T M1NH IT. Al.ti KKTH Flll;lV 1 I HVIltlDY m iADMi:. - Ifltl.Ml bOMI MDDV WITH YOU o D o to D o D o D o THIS lo't on of (hose fske free Ireitment orTert you hive seen o Tasny tlmea. We don't otTer to five you something for nothing but we do guarantee (hat jnu ran Iry this won derful treatment, entirely ( our risk, ami till luirtntee Ii bucked by our Iocs I druggist This makes the effef one which you rati ab solutely depend upon, because Ihe druggist with whom you hive been trading would uot stand behind the gusrsntee If he did Dot know II to be to bonest and legitimate oue. " Hunfs Salve, formerly called Hunt's Cure, ha been sold under absohile money brn k gnsr- ntee for more than thirty years. It Is eapcciiilly Compounded for the treatment of Gcxeroa, Itch, Hlng Werm, Tetter, and other Itching skin disease. Thoundi of letter testify to It ctirstlve propertlee. M. Tlmerllg. reputable dry goods dealer In Intrant. Oklnhntim, ssys: "I suffered with lexema for ten year, and nprnt !.kW.( for doctors' Ireattneut. without rexult. On bo of Hunt' Cur entirely cured me." Don't fell to glT Hunt' Salve trial price 75 feotg, from your local .viugKim, ui jorr- vj mull II lie UOCS not naHIIIC It. A. B. RICHARDS MEDICINE CO., Sherman, Texas GinHRii) OF YOUR FAT Thouiandi of othrri have gotten rid of theirs WITHOUT DIETING OR EXERCISING often M the rate of over a pound a day and WITHOUT PAYMENT until reduction has taken place. I am a liceriKul practising ph ah-lmi nnd personally select the II I'litmeitt for each Individual cane. I bus enabling mo to cIioono .remedies that will produce not only a loa of weight hnrmleasly, hut which will also relieve you of ull the trouhlexoms symptoms of ovcrstoiitness Niirh ni Hhortnr.i.a of breath, palpita tion. IndiKcsi Imi. rheuniatlMin. rout, loiMmia. kidney trouble and various other uffllctions hli b often ac company overstout liens. My treatment will relieve th.it depressed, tired, sleepy feeling, giving you leneued energy and vigor, a result of the loss of your superfluous fat. You are not required to change In tho slightest from your regular mode of living There Is no dieting or exercising. It In mmple, raay and pleasant to take. If you are overatoitt do not pn.vtpono but alt down rlcht now and send for my I'HKK THIAIi TllKATMKNT and mv plaii whereby I imi to he I'AIll ONLY Ani:it It KIU t'TluN HAS TAKKN II.ACI: If you so desire DR. R. NEWMAN, Licensed Physician State of New York 286 Fifth Avenue, New York, N. Y. Desk S-316. o D o D o D o II DEPENDABLE FURNITURE o D o U the foundation upon which this store has roared the structure of its great furniture business. Every piece of furniture that we offer for sale is chos.n with the thought that it is to be a permanent advertisement of this store as long as it remains in your home. Wiv-want that advertisement to create a good impression always. We want you to feel year after year that you can depend upon furniture that comes from HUMGARNER'S. It is furniture of this high standard that we ask you to come and see. BUM'S MAY-WE-SERVfc-YOU i BUM'S 0 ft J 3 ' 2? O Refriger ator this Is one of the most perfect and most economical refrigera tor on the market'; ha every convenience, white enameled, nice neat rounoVd edges, a beautiful dm Inn. $15 The Famous "Kohler" i Duofolds Similar to above cut; finished in Fumed or Golden Oak. A dandy pattern .... ii A n , $45.00 BUM'S Haejem ivimtorr ( JrWKIili . need no In tnaluilUsri to T u I a Hl)l It' the) stove with Men ah solum runr-antcc. 0 Hits model In rlbt or left hand ovcii $52.50 You can make no mistake in installing one. o D o D o The Largest Medium Priced Furniture Store in . OKLAHOMA D o BUM'S Thin over t lifted Iiving Room Suite, upholstered tn ar tistic wine colored ve'olir. Ths t hrei pieces enly $250 BUM'S ii n A-'iTi j This t e n-p i e c e American walnut Dini ng Room Suite for an ex ceptional v a 1 u e. See this at $285.50 o D BUM'S IKthhirtlfes Antique .Fiber Rocker (I.Ike, cat) well made. Ivory finish, chair or rocker $15.00 Also II r o w n l.si.iir finish, $12.50 BUM'S Aimlfuftrr, Vriw lmswll Ta ry ltiltmln WimiI l iber I Kl-a 36183 ill 8-3U0-6 ill Our RUG Dept. is fairly bristling with new and charming weaves. It will be a pleasure for you to buy here, because our Hugs arc chosen with care and knowledge of colors urid design. BUM'S The World iFamoua McDougall " Kitchen Cabinet This splendid cab diet made in Golden ' Oak, large and roomy. 'rlced $33.50 PAY AS YOUJUHJ One I'rice to Alt. Ten Per Cent Discount for Cash. ' I W I o D o o n o D o 30130. 118-120-122-124 East Second Street IE One Price to All 10DISCOUNT for Canh. D 0130 0