Page 6-B Qhanges Noted In Tax Laws President Reagan’s Economic Recovery Act of 1981 has generated an abundance of controversy tmsr the exact nature of the changes in the tax law. At this point the only certainty in many minds is the need to start planning now to avoid paying more than legally required in 1982 income taxes. ctFa aid the average taxpayer in understanding egactly what has been Changed in the tax laws • both for individuals and for businesses - and when the changes take effect, “How You Can Profit From The Roagan Tax Cut,” an 18- page guide to successfully planning tax strategies, is available without charge from Tax Information Center, a New Concord, Ohio firm specializing in tax, estate and financial planning on a year-round basis. The indisputed showpiece of the Reagan tax cut is the across-the-board reduction in individual income tax rates. The cut wiU total 23 per cent by 1984, though the reduction for 1981 will total only 1.2 S per cent, a/savings for the average American taxpayer ranging from less than one dollar to three or four dollars per paycheck. But the individual income tax rate reductions aren’t the only changes in the tax law. The “marriage tax,” for example, has been reduced, though not eliminated. Also, as a result es the reduction in the maximum income tax rate, the maximum capital gains rate has already been dropped from 28 per cent to 2^per cent. Congress made this ceiling on capital gains tax- available retroactive to June 10, 1981. ..Taxpayers will have a little more breathing room under the new law for estimated tax payments. Under prior law, it was necessary for an individual tor; .file an estimated tax rqtyiftif the lax liability w*s SIQO or more. Starting in 1982, the threshold amount will be S2OO. The amount will raise SIOO per year in each succeeding year until leveling off at SSOO in 1985 and subsequent years. Through a very significant provision in the new tax law, Congress has locked in the income tax cut after 1984. Starting in 1985, the tax brackets, the zero bracket amount and the personal exemption will be adjusted for inflation. This indexing provision will stop taxpayers from being pushed from one bracket to a higher bracket simply because they receive cost of-living increases in their sqlpry. The rate of inflation wifi be measured by the Consumer Price Index. These tax law revisions, and all the others, are explained at length in “How You Can Profit From The Reagan Tax Cut,” which is available at no charge from t|ax Information Center. To Order a free copy, please send a self-addressed business size envelope (approximately by 4V« niches) and 35 cents postage wj'Tax Information Center, 68s!io Boden Road, New CShcord, Ohio, 43762. N.C. Symphony * “To Perform 'The N. C. Symphony Oirchestra under the direction of Associate Cbhductor, James Ogle, performs in Williams ton, October 20 at Martin County Ahditorium at 8 P. M. C. Symphony trumpeters Edward Huffman and Timothy Stewart, featured soloists fob this concert, will perform Petronio Frartceschini’s “Sonata in D f ftaoutfd to bw miy wwiwblw lor bb*b rt or\ H I bw*»w tl» Bdvrtl—d pric# ta —d» AAR How, gacfH BQBcHIcHy noted ) PRICES EFFECTIVE THRU SAT., OCT. 10 AT A&P IN EDENTON RB Pl■ HI W V W ■l’ I ITEMS OFFERED FOR SALE NOT AVAILABLE W TO OTHER RETAIL DEALERS OR WHOLESALERS m m Pepsi 4 139 i 6 Oz. 4 m PAGE REGULAR OR RIPPLED I I S 79* REGULAR OR LIGHT [ I J I I I I P-J 1 ■ Generic Beer 1 85 J llk^H T* Green Giant Specials) \ j lIJF GREEN GIANT Sweet Peas o»r " L ASP QUALITY HEAVY WESTERN GRAIN FED BEEF / §tOd!( \ tZ^SSSSStEVST"' — Nihietcnrn 2-89* Sirioin Tip Roast Rib Steak or Roast , b 2" Ca " B A&P QUALITY HEAVY WESTERN GRAIN FED BEEF ROUNDTONE HEAVY WESTERN GRA,N FED BEEF AiAUTuiijm c vcbupi WHOLE BONELESS (20-26 LB. AVG.) CUT FREE 47ft ~ n rnlrion pTmQ 17oz . 109 Bottom & Eye Rounds 178I 78 ShOUlder Roast .b 199I 99 UUIUGII burn W cans I AAP QUALITY HEAVY WESTERN GRAIN FED BEEF A4P QUALITY HEAVY WESTERN GRAIN FED BEEF I eONE-IN T-Bone BLADE-CUT SES ’r-75 0 Sirtoin Steak 5? »■ 2 M Chuck Steak «, 159I 59 - * OCEAN EXTRA LEAN SPECIAL TRIM COUNTRY FARM . GREEN GIANT «#% n 4*l strum a-m »■#><# t»g% J- - L Le Sueur Peas 'lx 49® rtHUI 5 400 "74 rOIK fJo n=r M -7» RHet 8,5 lb. r” Loin ibT” y ——^^MH—l^ ■/ P 'Wk Dairy Specials \ ’'Wn PILLSBURY READY TO SPREAD PUR*^ VEGETABLE . KRAFT Cat Litter 25 ibs. 2«9 gig Frosting 1 29 Crisco Oil 2 59 Velveeta Cheese SS 179l 79 ANN PAGE-CHICKEN-TURKEY-BEEF BLACK EYE-PINTO-GREAT NORTHERN-NAVY-FIELD KRAFT DELUXE KRAFT P 0t c Pies 3 *£. 89* Luck’s Beans 2'Z£ 89* Macaroni*Cheese *£ 89* American Singles *£ 1 99 Window Cleaner 99* GHEER FREMCH BUTTERMILK • BUTTER TASTIN Light Bulbs 2Bulb , yg» Freestone Peaches 53* Salad Dressing VT 9 Hungry Jack Biscuits ’^ss* APPLE-BLACKBERRY-STRAWBERRY OUROWN _____ __ ORANGE-GRAPE-PUNCH ANN PAGE MEL-O-BIT AMERICAN Pet Rib Cobbers 1” Tea Bags 100 A 139I 39 Hi-C Fruit Drinks 69* Cheese Slices T 3 Hii mwm.M I 701 North Broad Street - Edenton. N.C. . j) THE CHOWAN HERALD Thursday, October 8, WBt-