Articles in regional publications that pertain to a wide range of North Carolina-related topics.
Search Results
2 results
for Revenue Act of 1918
Currently viewing results 1 - 2
|
PAGE
OF 1
|
Record #:
20949
Author(s):
Abstract:
This article examines the 1918 Revenue Act designed by Chairman Claude Kitchin of the House Ways and Means Committee. The act, created during U.S. wartime, sought to collect a high, graduated excess profits tax from those netting profits in excess of a just rate of return. Kitchin believed that the country should finance the war by collecting as large taxes as possible and mortgage as little as possible. Failure to do so, Kitchin said, could send the country into a post-war depression. Conservatives saw the tax as part of an attack on business and wealth, and the tax was repealed in 1921.
Source:
North Carolina Historical Review
(NoCar F251 .N892), Vol. 44 Issue 1, Jan 1967,
p72-88, il, por, f
Periodical Website
Subject(s):
Full Text:
Record #:
31040
Author(s):
Abstract:
Changes in the Revenue Act increased the North Carolina General Fund over $32 million. Levied surtax was issued on liquors; sales and use tax exemptions were removed on horses and mules, fuel, and freezer supplies; sales and use tax exemptions were removed on farm and mill machinery, office equipment, and broadcasting equipment; tax rates were increased on sales and use tax on motor vehicles and airplanes; and sales and use tax exemptions were removed on sales of drugs, food, newspapers, photographs, and sales to State of North Carolina and its agencies.
Source:
Subject(s):