Word: deductions
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...size of income, it closed the gap to an insignificant 1% - 13¼% to 14¼%. As a substitute for the President's proposal, it wrote in an excess profits tax, 5% to 20% on profits over 8% of 1934 declared capital value. Corporations were authorized to deduct on their tax returns all gifts to charity up to 5% of their net income...
...Makepeace's figuring: "I put a pencil against the wheel and counted the number of times the valve stem hit it. That was the revolutions per minute. I multiplied that figure by the number of minutes per week in an 81-hour day. The next step was to deduct two hours a week for the five-minute stops the car made every hour. Then some coasting revolutions had to be added...
Unemployment Insurance. A Federal tax on payrolls will finance the plan. The rate will scale up to 3% in 1938. In any year an employer may deduct up to 90% from his payroll tax for the amount he pays into his State's unemployment insurance fund. The States, within limits, will be permitted to figure out their own insurance plans, but the funds collected must be deposited for safekeeping in the U. S. Treasury. Suggested plan for State adoption...
...Federal annuity system. Funds for these annuities like funds for unemployment insurance will be raised by a payroll tax: 1% for the first five years, 2% for the next five and so on up to a maximum tax of 5%. The tax will be paid by employers who will deduct half of it from the pay envelope of each employe. Thus a clerk getting $20 a week will at first get $19.90 and a stamp for a 10? contribution to the annuity fund. By the time the tax reaches 5% the $20 a week clerk will...
...dealer may allow a customer the full price listed in the guide. He must deduct a charge for handling and reconditioning, ranging from 5% to 15% depending upon the age of the car. The official guide price of a Ford cabriolet, 1930 model, in the New York area is $210. The mandatory deduction (15%) fixes the maximum allowance to a customer at $178.50. Other Guide prices in District No. 2 (five passenger sedans, 1930 models): Buick 30-57, $425; Chevrolet, $195; Chrysler 70, $300; Franklin, $700; Hudson Greater 8, $265; La Salle $575; Nash 480, $375; Packard...