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Juniata Sentinel And Republican
Mifflintown, Juniata County, Pennsylvania
What is this article about?
A dispatch from Washington reports that the Committee on Ways and Means has completed a bill reviving income tax, exempting incomes under $2,000, with 2% on $2,000-$5,000, 3% on $5,000-$10,000, and 4% above $10,000. Rents and taxes excluded from estimates. PA, NY, IL, OH, MA to pay nearly 3/4 of the tax.
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A dispatch from Washington says: The Committee on Ways and Means have completed the bill reviving the tax on incomes. It is provided that all incomes below two thousand dollars shall be exempt from taxation; above two thousand dollars, and not exceeding five thousand, the tax will be two per cent.; above five thousand dollars, and not exceeding ten thousand, three per cent., and all above ten thousand dollars four per cent. Rents and taxes paid are to be excluded in the estimates of income presented by taxables. Pennsylvania, New York, Illinois, Ohio and Massachusetts will pay nearly three-fourths of this enormous tax.
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Domestic News Details
Primary Location
Washington
Outcome
pennsylvania, new york, illinois, ohio and massachusetts will pay nearly three-fourths of this enormous tax.
Event Details
The Committee on Ways and Means have completed the bill reviving the tax on incomes. It is provided that all incomes below two thousand dollars shall be exempt from taxation; above two thousand dollars, and not exceeding five thousand, the tax will be two per cent.; above five thousand dollars, and not exceeding ten thousand, three per cent., and all above ten thousand dollars four per cent. Rents and taxes paid are to be excluded in the estimates of income presented by taxables.