The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-03-10

ments, mentioned in The Journal
Saturday. They make it possible to levy
an income tax on all personal property.
There was great opposition in the senate
to a clause added to the franchise Sec
ton providing that such tax should be
in addition to the tax on real and personal
property. The committee did not pro-
pose to strike this out but redrafted the
section, and according to general opinion,
much improved it. There is one short
change in the effect of it. A gross earn.
ings tax, if imposed, will be in lieu of the
tax on the franchise and the personal
property used in connection with the eX-
ercise Of the franchise.
The Inheritance tax section was also
drawn and put in simpler language.
The amendment finally drafted by the
conference committee reads as follows:
Section 1.-The power Of taxation shall never
be surrendered, suspended or contracted
away The legislature shall provide for al.
annual tax sufficient to defray the estimated
ordinary expenses of the state for each year,
and whenever it shall happen that sucn
ordinary expenses of the state for any year
shall exceed the income of the state for such
year, the legislature shall at its next
sion, provide for levying tax sufficient to
pay such deficiency. And whenever the in
come Of the state from other sources shall
be sufficient to defray all of its ordinary ex-
penses without the levy of any annual stat,
tax such tax levy shall be omitted.
All taxes to be raised in this state shall he
as nearly equal as may be, and shall be
levied and collected for public purposes only,
and all property on which taxes are to be
levied, except as herein otherwise provided,
shall have a cash valuation and shall be
equalized and uniform throughout the state;
| provided, that whenever the levy Of tax for
/ toto ia q Hon
/ the taxes levied for local purposes shall be
upon valuation of the property within the
several counties and the subdivisions there
| of, which shall be equaized and uniform
throughout each county.
| The legislature may by general or special
| law, authorize municipal corporations to levy
assessments for local improvements upon the
property fronting upon such improveme nts,
| or upon the property benefited thereby, or
| both, without regard to cash valuation,
! in such manner as the legislature may pre-
! scribe.
| A Gross Earnings Tax.
There may believed and collected an an
nsal tax upon franchises granted by public
authority, in addition to the tax on the real
property and other personal property of the
person corporation holding such franchise,
| or in lieu of the tax such franchise and
| the personal property used in connection with
! the same there may be imposed such tax upon
| the gross earnings of the person or corpora
| tion holding such franchise as the legislature
| may determine; and said tax shall be appor-
| toned between the state, counties and muni-
/ cpalities where the said franchise is exer-
cised, in the same manner the revenues
| from real estate taxes are apportoned.
| A transfer tax not to exceed per centum
J ciay be levied and collected upon the estates
| of all decedents above a fixed and specified
sum. which tax may be uniform, graded or
] progressive.
There may be levied and collected a reg
| istry tax upon all real estate mortgages,
which shall be in lieu of all other taxes Oh
the debt Sc cured by such mortgages, and
| tax upon the income from all credits owned
| by persons or corporations, as such credits
/ are now or may be hereafter defined by law,
! and also on the income from all personal
| property, and also upon the income of all
persons in this state above the sum OF
one thousand dollars per annum, not arising
| from such credits or personal property, o.
I from property otherwise taxed in this state.
Such income tax shall be uniform throughout