Roosevelt signs business tax revision ending undivided profits levy
President Roosevelt signed the business tax revision bill in Washington at 10 last night. The measure reimposes expiring excises and reshapes corporate taxes, replacing the undivided profits levy with a flat 18 percent tax on corporations over 25,000 and allowing loss carryovers for two years. It also permits full deduction of capital losses from assets held over 18 months.
MENTIONED IN THIS ARTICLE
Washington
Roosevelt
Tax changes alter capital gains deductions and corporate valuations
The new rules allow losses on assets held under 18 months to offset short term gains in the same year with excess losses carried over one year. It replaces a $2000 deduction limit and aims to raise stock valuations for corporate tax bases on June 30 1938 and 1940. Revisions mostly apply to 1940 taxes due in 1941. Also notes Gutenberg’s role as an early printer, not the inventor of the first press.
Twin Mound Grange Holds Meeting at Church
The Twin Mound Grange met at the church Saturday evening with twenty four attendees. Charles Faw presided, ice cream refreshments were served by the ladies, and next meeting was set for July 29. Mr and Mrs Brant Thurber of Modesto California visited local friends last week before continuing their southern and eastern travels.
MENTIONED IN THIS ARTICLE
Twin Mound
Community Mourns Viola Moore Death in June
Mrs Viola Moore died June 18 after sudden illness. Funeral services were held in Lawrence with burial at Twin Mound cemetery. George Sullivan and family hosted a dinner honoring Mr and Mrs Gerald Erwin of Oakland California who are visiting for about ten days.
MENTIONED IN THIS ARTICLE
Viola Moore
Altho
Lawrence
Twin Mound
George Sullivan
Gerald Erwin
Oakland
Calif
Erwin
Sullivan
John Bulmer
J. Rakes
May
Dorothy
Airs
Rudolph Hase
Also Mentioned on This Page
Zephyr
Angel Food
Zephyr Baker
Johann Gutenberg
Talley
CaTaUee
Chase and Sanborn
Swift
Coca-Cola
Dr. Pepper
Pepsi- Cola
R. C. Cola
Cudahy’s
Puritan
Bath
Boston
Ibs
Oleo
Lipton’s
Orange Pekoe
Bireleys
OLD Bell
Jo Andy
Ib. Sack
Beulah
Stuart Thurber
Sharon
James Goodyear
Jimmie
Leslie Hall
Elmer ‘Thurber
Celesta
Colia
Kenneth Hegeman
Florence Hase
Glenn Dodder
Bobby
Roy Bowen
Henry Montfoort
Blaine ‘Fultz
Sinclair
Ross
Pearl Thurber
Joan
Topeka
Ralph Pine
Pickwick Graham
Staley’s
Bacon
George’s Market
Mass
Vwrne Heinz
Crisco
As A T HE Great
Atlantic & Pacific Tea Company
A&p
Sunnyfield
U. S
Wisconsin
Alaska
Leokt
Mazda
Ann Page
Iona
Red Cross
Scot
Ann Page Macaroni
Jane Parker
Prunes
Choss Otaren
Iba
Tbs
Ark
Freestone Peaches
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