The Bismarck Tribune Newspaper, January 24, 1919, Page 2

FRIDAY, JAN. 24;1949. INCOME TAX T0 PRODUCE MORE. THAN $500,000 ‘Large New Source of Revenue Opened up by: Nonpartisan League Measure NO PERSONAL. TAX NOW Assessment on Earnings Super- cedes Othen,. Levy—Farm SAVINGS j The value of bak- gets ae ing powder is based on its | feast “$eoonee additional revenue Leas tat ees You a ria aternoon by the ceramitis you get for your money.. You formerly head of the department of Did ede med ce baking and the zesults you get. ecénomics of the Utah university, but fyr some months Townley’s chief ad- viser on tax matters. The bill provides for a graduated tax on earned and unearned incomes, and a flat three per cent upon the in- comes of corporations. It adopts the Engilsh plan of withholding the tax is the greatest value ever offered in Baling re donee at has greater raising “force’’—it goes further than most. of “the other brands. You use only a rounded or heaping teaspoonful where others call for two teaspoonfuls or more. at the source. It applies_to all prop- erty, except income from lands. Incomes are divided into two class- es: “earned” and “unearned.” “Earn- ed” incomes are those actuglly earned, such as wages, salary or fees for per- But Baking Powder is not ail you’ll save when using Calu- met. You save baking materials, * Calumet never fails. The last level 14 teaspoonful is as powerful as the first. Calumet is perfectly manu- sonal service, profits from any. busi- ness personally managed, or rents de- factured — keeps perfectly —and is moderate in price. tived from: any property. owned by a You save when you buy it—You save when you wseit resident taxpayer, ‘Unearned in- One trial will satisfy you of these comes” are those derived from rents of land or other property; interest facts—and demonstrate beyond doubt that “Calumet spells economy.” on mortgages, notes or bonds; div- Your grocer sells itona gufrantee i a th income. The tax on unearned income is graduated at the rate of one-half per cent for cath thousand dollars. The tax is one-half of one per cent on the first $1,000, and an additional one-half per cent on each $1,000 or fraction Laecreot up to $10,000, which would pay %& tax of five per cent. comes in excess of $10,000 and not s of 20,000 will pay a tax of All net incomes in ex- cess of $20,000 and not in excess of $30,00 pay a tax of 8 per cent, and on all net incomes in excess of $30,000 a 10 per cent tax ‘is levied. On earned incomes a tax of one- fourth of one percent is levied on the idends on shares of stock in any busi- ness not personally conducted by the of money back if you are not pleased with results, etree taxpayer; from .annuities; and. from Calumet contains only such ingredients as dny source whatsoever other than the labor, skill or personallly conducted ~- have been approved officially by the U. S, ercod Authorities. business of the person receiving the ~ t HIGHEST uated at the rate of one-fourth per cent. for each additional thousand dollars. It is graduated thusly up to QUALITY AWARDS per cent. All net. earned incomes. in excess. of $20,000 are taxed 6 per cent. incomes in, excess of $20,000 and be- low $40,000 are taxed 8 per cent. RE AS OT \ without ii in the i ' Bromo Q nine ‘ ‘should be taken without delay. J. JUST RECEIVED BIG signature on the box [Bre low. } SHIPMENT «. LOWNEY’S CHOCOLATES BOXES FROM 15¢ UP Saturday & Sunday SPECIAL Lowney’s Mixed ‘ Choco- lates, regular price per pound 80c. —AT— 60c COWAN’S if Drug Store eae Richholt’s Cash 4 Carry | Phone 631 Grocery | 7th & Thayer | SATURDAY SPECIALS k New Salem Creamery Butter, per lb.. .68¢ Splendid lot of Florida oranges, per doz. 60¢ Cream of Nut Butter, per pound Terao 35¢ ‘Eggs, per 40 C ioe eee oes Lemons, per dozen nN oo re) i ay Spring Clothés SPRING STYLES - : as After the biggest os ye ee swe Spring Models winter ‘business we They are ‘decidedly different. Lauter ava first $1,000, and the tax, then is grad-| | $20,000, which would pay a tax of five] © ni below $30,000 | 7) All net earned any 2 a | but not connevted with business or trade; debts due {and charged off during the year; a }| $1,000. .|sessments are to be made by him. {| addition to: the income tax of |throo MUSTEROLE—QUICK RELIEF! NO BUSTER! It Soothes apd Rel Relieves Like a Mustard Plaster Without the Burn or Sting Musterole is ‘a clean, white ointment, mnade with the ef of mustard. - It does:all the work of ti gid-fashioned mustard plaster—does ft:better and does not blis- ter. You dp not jhave to bother with a cloth. ‘You'simply rub it on—and usually the pain is gone! Many doctors and nurses use Muster- ole and recommend it to their patients. They will gladi yield you what relief it gives from sore ‘throat, bronchitis, croup, stiff nec!:, asthma, neuralgia, congestion, pleurisy, rheumatism, lumbago, pains End aches’ of the back or joints,. sprains, sore musclea, bruises, chilblains, fros feet, colds of ie chest. (it often: pre- vents pnewmonia). 30c and 60c jars; hhogpilal size § bd net incomes in ,excess of $40,000 are taxed 10 per cent, An interesting feature. of the bill is that it does not do away with the tax on personal property. As in the Wisconsin law, the income and per- sonal property taxes run concurrent- ly, so that the income tax.can be paid with personal property tax receipts, If the personal property tax is great- er than the income tax, the taxpayer will not be required to pay an income ax. The bill provides for the following income exemptions: “The proceeds of life insurance pol- icies paid to individual beneficiaries upon the death of the insured; the amount received by the insured as ‘a return of,any premium or premiums paid by him under life ‘insurance, en- dowment or annuity contract, either during the term or at maturity of the term mentioned in the contract, or upon the surrender of the contract, the value of any property acquired by gift, bequest, or descent; (but the income trom a]l the above enumer- ated preperty shall be taxable) in- terest upon the obligations of the United States or its possesions; se- curities issued under the provisions of the Federal Farm Loan act of July 17th, 1916, and amendments thereto; and the compensation of all officers and employes’ of the United States, such part thereof as may be In computing the vance is made for uch as the Hy paid ift car ig on any busi- or trade, nét including personal, family expenses; ull inter paid within the year ‘on tax-payer's taxes paid within the edi by the authority-of the States; los actually paid ring the year, in ‘ed in ‘busi- or trade, or arising from casu- losses actually sustained in ttions entéred into for profit, tothe tax ‘payer actually ascertained to be worthless reasonable allowance of the exhaus- tion, wear ‘and tear, and the obsql- escence of property, and all income from sources without the state. The following exemptions, in the nature of deductions, from the amount of the total net income from all sources are allowed: To the-married -head of a family To a married man with wife living withNhim, or a married ‘woman with with her, $2,000. To a guardian or trustee $1,000 for unmarried or $2,000° for each d_ ward, Each -tax payer is required to make a return on‘or before the first day of March eath year as to his or her gross income from all»sources, and ‘from the total must deduct the items of allowance. All fiduciary agents are required to. make the same return for every person whom they represent,’ and all! agencies are authorized to withhold from payment to employes or others connected with them a sum thajestall be equal to the income tax. ‘sous carrying on business in part- nership are liable for income tax only" in their in@ividual capacity. All returns are to be made to the State Tax Commissioner, and all as- He must certify the assessments to |15; each ‘year,' ~ ‘To undertake the colection' of “pay- or bills of’ exchange, | persons, without the: state,” one must get # |Jicense from thé tax commissioner. | 'It-is a misdemeanor to do 80. without a-license, and a .fine ‘not to’ exceed $5,000 .or -a.prison term not to exceed: ‘one year, Or vated provided for. Corporations, it stock compapies or associations organized within Vine statesare tobe taxed three per: cent | fiat upon ‘their -incomes, ‘while: such | organizations without the state are to hetaxed three per cent flat upon all ipgomse; received | within: the ‘state. “Int have ever had, we are now showing a wonderful line of— riety in.new fabrics and colors..: Models are new.and different. They have: pegs and lines that get-away from ‘the. staple models of war-time. : “Style Headquarters’ '_that’s slic rice that guides the well dressed man: to: this store, and a dollar’s value for every dollar spent. He PRETEND ANd ‘PnesHING CUSTOM TAILORING 4 DRY CLEANING EX PE nl REP AERAN GS: pd tty G.E. BERGESON & Son 3 nd.‘ Mutug 3 naving, nie percent, an additional tax: of five percent “upon’the amount remaining undistributed six months after;the'end of each ‘ealendar or’ fiscal year). of ‘the total ‘net income of every corporation, the state’ treasurer om or before’ May ; ments: of interest, rent, or’ profits or | dividends by means of coupons, checks |. or otherwise’ for | companies ~ or corporatons and operated exclusively for the, ben+ efit of its members. “Sixth. Corporation or a: Sociation orgaijzed and operated exc ly for religion, charitable, scientific or edu- cational purposes, no part of the next income of which inures to the bene- fit of any private stock holder or in- dividual. “Seventh! Business league, chamber| of commerce, or board of trade, not organized for profit, and no part of the net income of which inures to the benefit of any private stockholder or individual. “Eighth. Civic league or organiza- tion not organized for profit and op- erated exclusively for the promotion of social welfare. ““NMth. Club organized and op- erated exclusively for pleasure recre- ation or, other non-profitable pur-. poses, no part of the net_income of which inures to the. benefit of any private stock holder or member. “Tenth. Y¥armers or other mutual hail, cyclone, crop or fire insurance company, mutual or coperative tele- phone company, or like organization, the income of which consists solely of .assessments, dues and -fines. col- lected from members for the sple pur- pose of mecting its expenses. “Eleventh, Farmers’ soutual ware- house of elevator Company; farmers or like association, organized and op- erated as a sale agent for the pur- pose of marketing the products of its members ‘and any other corporation having a membership and conducted not for profit, but for service to its members or the public. “Twelfth. Corporation .or associa- tion organized ‘for the’ exclusive pur- pose of holding title to property, col- * (Continued on Page Six.) We will call att Paapt 344 NY | joint-stock ;company: or’. association, received during the. year, as detor- mined: for the 5 purpose of the fox im. | posed” <The, vill, then, provide 4 “There shall. not ‘be | taxed anger thisact: any income recefved by an, “Kirst. Labor, :agnic tural or ~hor- Sewiinral organization. é savings. ban! sarily operating under te ding for the Smeal oe benefits, to. the ee eas of such. 80-.|" ciety, order or association” or their. :dependents. > “Fourth. Domestic bulldipg.and loa: association,'or cooperative banks, or: ganized and operated for mutval pur. poses and with it. © “Fifth. [Cemetery company «owned. ‘FIRE, ACCIDENT, LIFE, LIABILITY, AUTO, TORNADO, FARM RISKS, THEFT, BURGLARY, BONDING, PLATE GLASS, ETC. WE HANDLE ALL LINES H. T. MURPHY & CO. INSURANCE We: Have Just ‘Moved Around the Corner in the Haggart Block 50 foot sigal ‘lothes line; sale. e820. eck 8 1.3 LE Hardwood clothes pines, 2 dozen for. . re ae ; ‘ “Clothes b baskets," size 18x30, regular $1 49, sale... .$1.29 Feather d dusters, all sizes,........ S : 15¢, 39c, 49c, 59c Water glasses, sale, 3 for.. ee sees 10€ Toilet paper, a 1 for.. Rs .25e ubnd many other itera at greatly reduced brices: “Having suffered from nervous indigestion for several ycars, I find after using Dr. Caldwell’s Syrup Pepsin that I am as well as I ‘ever was and can now. elt t anything without f, fear of consequences.” ~ (From a } letter to john r. Caldwell written by Mrs. J K. Moore, 516 No. 27th St., Richmond; Va.); # Indigestion and ‘constipation are condi-: tions closely related and the cause of much.suf- “ fering! ‘Dr. Caldwell’s'Syrup Pepsin isa mild, pleasantly effective laxative; it quickly relieves the intestinal congestion that retards digestion and has been the standard household remedy in countless fonies for many years.’ en ‘DRe “CALDWELL/S - Syrup Pepsin The Perfect Laxative 4 Sold by Druggists Everywhere 50 cts. (52) $1.00 : ATRIAL BOTTLE CAM BE OBTAINED, FREE OF CHARGE, BY WRITING TO ‘DR.-W. B. CALDWELL, 459 WASHINGTON STREET, MONTICELLO, ILLINOIS - ‘ Third Street No DUT TT naRNGUNCCEROODOgUAgUGARONUSONNA FAazONtOD