The Exhibitor (Nov 1942-May 1943)

10 THE EXHIBITOR HERE'S WHAT YOU NEED TO KNOW ABOUT THE VICTORY TAX (Editor’s Note: Beginning last week end for some, and this week end for others, depending on when the payday breaks, employers will collect a Victory Tax each week. For the benefit of its readers. The Exhibitor has obtained a simple analysis of what must be done in the matter of bookkeeping.) EVERY PERSON in the United States who earns more than $12 a week begins paying the new five per cent victory tax with the first payday of 1943. It is deducted from wages and salaries in the same manner as the Social Security levy. The new tax is not a simple deduction involving no bookkeeping on the part of the individual. If a taxpayer wishes to get benefits to which he is entitled by law, he will be required to make calculations every bit as complicated as any on a regular income tax form. THE CALCULATIONS won’t have to be made until March 15, 1944, but throughout 1943 it will be necessary to keep certain records on which the arithmetic is based. The victory tax is really more than a tax. It is a combination of a tax and forced savings. It is the only tax ever imposed in this country a part of which must be returned to the taxpayer, in one form or another. Throughout the year, the five per cent will be collected by em¬ ployers on all earnings over $12 a week, regardless of the marital status of the taxpayer or any exemptions he may be entitled to claim from his regular income tax. THE EMPLOYER may follow a table prepared by the Gov¬ ernment, published in another column. As can be seen by this table, the deduction for a man making $40.01 to $50 a week would be $1.60. If the employer uses the method, some persons will be paying too much and others too little. These inequalities will be taken care of on March 15, 1944. Because the table simplifies bookkeeping, it is believed most employers will use it. The expense of collection, in any case, will be rather high. AT THE END of the year the employer will give each tax¬ payer a receipt showing exactly how much has been deducted. The taxpayer will then make his “settlement” with the govern¬ ment in a special victory tax section of the income tax form to be filed before March 25, 1944. THE LAW provides that a certain amount of the tax can be regarded as savings: Twenty-five per cent for single persons, 40 per cent for married persons, and two per cent additional for each dependent other than wife or husband. ASSUME that a $50-a-week man is married and has one dependent child. He is then entitled to regard 42 per cent of $140, or $58.80, as “savings.” The official language is “post-war credit.” In other words, the government will promise to pay this taxpayer $58.80 after the end of the war. However, if he can show that he has saved that much in certain approved ways dur¬ ing 1943, he can “claim the post-war credit” immediately. The approved methods of saving are: 1. Purchase of government bonds. 2. Payment of premiums on insurance which was in force on Sept. 1, 1942. 3. Reduction of debt, by which is meant that the total debt of the taxpayer at the end of 1943 is less than at the lowest point between Sept. 1 and Dec. 31, 1942. Employers' Deduction Table For weekly pay¬ roll period For semi-monthly For monthly pay pay-roll period roll period x .2 X.2 (8 2 -Q 5/3 V bl as over *** — 9 9 — X 5 5/3 A) bt a ) > 0 o A* w — S £ 3 .tS 5/3 A) bfi « la 9 > 9 If the wj are over But not ! * 9 x X ^ H ® If the w are over But not | £ § 4> If the w are ovei 9 3 aa $12 $16 $0.10 $26 $30 $0.10 $52 $60 16 20 .30 30 40 .40 60 80 20 24 .50 40 50 .90 80 100 24 28 .70 50 60 1.40 100 120 28 32 .90 60 70 1.90 120 140 32 36 1.10 70 80 2.40 140 160 36 40 1.30 80 100 3.20 160 200 40 50 1.60 100 120 4.20 200 240 50 60 2.10 120 140 5.20 240 280 60 70 2.60 140 160 6.20 280 320 70 80 3.10 160 180 7.20 320 360 80 90 3.60 180 200 8.20 360 400 90 100 4.10 200 220 9.20 400 440 100 110 4.60 220 240 10.20 440 480 110 120 5.10 240 260 11.20 480 520 120 130 5.60 260 280 12.20 520 560 130 140 6.10 280 300 13.20 560 600 140 150 6.60 300 320 14.20 600 640 150 160 7.10 320 340 15.20 640 680 X .2 "d *— x 9 9 X C X 3 X § * 3 9 <UX $0.20 .90 1.90 2.90 3.90 4.90 6.40 8.40 10.40 12.40 14.40 16.40 18.40 20.40 22.40 24.40 26.40 28.40 30.40 Foreign Critics Choose New York — The Foreign Language Film Critics Circle, consisting of editors and critics of foreign newspapers, held a luncheon last week at which the choice of the “10 Best Pictures of 1942” was an¬ nounced. Mayor LaGuardia was the prin¬ cipal honor guest. With him on the dais were Carl E. Milliken, representing MPPDA and the foreign managers of member companies; Dr. David Krinkin, temporary chairman of the group and publisher of Russky Golos; Louis Nizer, prominent film attorney and author; Vic¬ tor Stoloff, motion picture producerdirector; Sigmund Gottlober, director of the American Foreign Language Press Service; Harry Hirshfield, humorist; Dr. William Edlin, of the Day; members of the motion picture trade press, and others. “Mrs. Miniver” was named as the out¬ standing feature of 1942. Alger Heads Appeals Board New York — Judge Henry W. Goddard, United States District Court, last week appointed Robert McCurdy Marsh, former Justice of the Supreme Court of New York, a member of the Appeals Board of the Motion Picture Arbitration System, it was announced by the American Arbitration Association, administrator of the system. At the same time, the elevation of George W. Alger, a member of the Ap¬ peals Board since its inception in 1940, to the chairmanship of the board, was also disclosed. The chairmanship has been vacant since the recent death of Judge Van Vechten Veeder, chairman since 1940. As a member, Judge Marsh will receive a salary of $17,500 and, as chairman of the board, Alger will receive $20,000. Consult The Territory Screening Guide for Trade Show Information. "Hitler's" Performances For UN New York — “Hitler’s Children” was last week made available to the United Nations Week Committee for special pre¬ view presentation in a number of the¬ atres in the United States by Ned E. Depinet, president, RKO. This presentation will be for one performancj only, at reserved seat road show prices, with the entire receipts to be turned over to the United Nations Fund. The following dates have been set: Jan. 19, RKO Keith’s Memorial, Boston; Cen¬ tury, Rochester, N. Y.; Paramount, Syra¬ cuse, N. Y.; Jan. 20, RKO Palace, Chi¬ cago; Allen, Cleveland: RKO Orpheum, Kansas City; Orpheum, New Orleans; RKO Keith’s, Lowell, Mass.; RKO Albee, Providence; RKO Capitol, Trenton, N. J.; and RKO Keith’s, Washington. Other dates are now being set up, and will be an¬ nounced later. January 6, 1943