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<ST Two Trumpets and
Strhigs”. The remainder of
the' 1 half-pops program
includes Rossini’s “II Signor
frnfechino Overture,”
MMart’s “Symphony No. 38
bid® Major, K. 540",
Mendelssohn’s ‘‘Mid
s'UYn mer Night’s
Ditotam,” Arthur Benjamin’s
u&Amaican Rumba,”
Martcini \s“Stringson Fire! ”
anti Richard (layman’s
“Pops Ifneduwn.”
d2VrHE ASP 122nd
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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
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. 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-