Evening Republican, Volume 23, Number 75, Rensselaer, Jasper County, 26 March 1920 — ALMOST BILLION IN TAXES PAID IN [ARTICLE]

ALMOST BILLION IN TAXES PAID IN

Washington, D. C., March 25.— Income and excess profits taxes aggregating >908,829,172 were paid as the first installment of the nation’s tax bill for 1919. While these figures do not represent an exact one-fourth of the taxes of last year, they indicate collection for the entire year of approximately >3,500,000, treasury officials said last night. The first installment , more than offsets outstanding treasury certificates of indebtedness, issued in anticipation of the payment, and leaves the treasury in a position to continue its financial program outlined several months ago. Collections for the first period of 1918 were approximately >1,200,000,000, the reduction this year being due to the lowering of the normal income tax rate. The second district of New York, comprising the heart of the financial section, held its place in yielding the greatest amount of revenue of all collection districts, as it has for many years. Its total was >154,050,989. Collections included: Illinois, >83,274,672. Indiana, >15,838,470. Kentucky, >7,970,147. New York, >214,644,232. Ohio, >63,029,667.