The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1905-02-03

dent George W. smith ue-elccted);
Vice President Robert Cation cree
elected)i Secretary Richard n. Trent.
succeeding j. II. SopeD, Treasurer w.
w. Harris Ue-elected. These officers
with j. Wakefield, }. T.. Hamburg. j.
A. Kennedy, w. r. Lucas, and NJ Phil
lips form the board of directors. stand
ing committees for the new year viii
be announced by the president.
The following report was made ON
suggested amendments to the tax law.
Honolulu, January %. 1905
Mr. George W. Smith.
President Merchants Association.
Dear Sir:-The committee appointed
to deal with the suggested amendments
to the present law providing for "a tax
on real and personal property beg 60
report as follows:
I. Real Property-EXcept as herein
provided all real property within the
Territory OF Hawaii. shall be subject
to a tax of ] per cent ON the cash
value of the same.
p Definition of Cash Value-Cash
value for real estate shall be deter
mined by actual sales Of property, of
like value, made during the previous
twelve months within the vicinity of
property assessed or by sales Of prop
erty Of a similar character.
B. Definition of Real Property-The
term real property" for the purposes
of this act shall mean and include all
lands, and town lots and house lots
with buildings, structures, fences.
wharves, improvements and other
things erected on or affixed to the same
4. Personal Property-The value of
stocks of merchandise. furniture, fix
lures and implements of trade and pro-
fession, for taxation, shall be the in
ventory value of same, less a discount
of 20 per cent.
5. The inventory of stock must be
shown i'm detail in English figures and
language and must accord i'm total
value and total amount with the total
value and total amount of stock of
merchandise, fixtures, furniture and
implements of trade or profession
shown as assets i'm the merchandise
ledger and trading books of the bust
ness.
6. The Tax Assessor or his deputy
shall, at reasonable times, have access
to the books of any partnership, firm,
corporation or individual trading i'm the
Territory Of Hawaii; failure on the
part of any partnership, firm corpor-
alton or individual to grant to the As
SCISSOR or his deputy full access to said
books shall render such partnership,
firm, corporation or individual liable
to a penalty or not less than 800 ana
not exceeding $500.
7. inventory of stock for the purpose
of taxation shall be made each year
/ All partnerships, firms, corporations or
, individuals trading i'm the Territory of
Hawaii shall file with the Assessor of
the Territory written notice of the date
they propose to take stock, and tax
returns for same shall be made within
period of thirty days after taking
stock Failure on the part of any
partnership firm, corporation or indi-
vidual to take a detailed inventory Of
stock each year shall render such part
nership firm, corporation or individual
liable to a penalty of not less than 500
and not exceeding $780,
| s. Any partnership, firm corporation
or individual trading i'm the Territory
of Hawaii, who shall be found to have
undervalued their stocks Of merchan-
disc, fixtures, furniture and implements
of trade or profession for the purpose
of taxation, or shall be found to have
made a false or untrue inventory of
stock, for the purpose of evading tax
/ alton. shall forfeit all rights to
the discount allowed on stocks of
merchandise, fixtures, furniture and
implements of trade or profession,
as provided in article No. 4, and after
the value of said stock has been adj
iusted so per cent of the total value
shall be added thereto and the tax %
per cent payable on the whole.
9. Definition of Personal Property
The term personal property for the
purposes of this act, shall mean ana
include all household furniture, effects,
jewelry, watches, goods, chattels wares
and merchandise, machinery, ships or
vessels. whether at home or abroad, all
moneys i'm hand, leasehold and chattel
interest in land and real priperty'
franchises, patents, contracts, growing
crops public stocks and bonds not eA-
empted by law from taxation, and all
animals not herein specifically taxed.
10. Partnerships, firms, corporations,
or individuals selling merchandise Tor
profit in the Territory of Hawaii, or
professional men of all professions car
rying no stocks of merchandise, or car
rying stocks of merchandise less IN
value than one-fourth of their total
sales or earnings shall be taxed one
half Of / per cent on their total annual
sales or earnings, and the books of
such firms, corporations, partnerships
or individuals shall at all reasonable
times be accessible to the Tax Assessor
or his deputy for examinations FaA-
IRE TO grant to the Assessor or his
deputy full access to the books of the
partnership firm, corporation or indl-
vidual shall render same liable to a
penalty Of not less than 500, and not
exceeding $500.
/ We would further recommend that
sections S21 to section S37 inclusive OF
the present tax law, be Incorporated III