Audubon Republican. [volume] (Audubon, Iowa) 1894-1925, 1907-04-04
May Tax Franchises.

May Tax Franchises.
Des Moines-After a fight extend
Ing over most of the day the senate
passed bill levying corporation
franchise tax and requiring annual
reports from corporations doing bust
ness in this state.
This bill, of which Senator Ericsson
was the author, was the subject or
debate one other day when It was
recommitted to the judiciary commit
tee which, presently, reported sub
stitute eliminating the tax feature
and leaving in the bill only the pro.
vision requiring an annual report.
II was on this substitute that the
issue was finally joined. It was de-
feated and all amendments tending to
weaken the measure. except that cor
porations having less than $4,000
capital are exempted from the pay
ment of the tax
The bill received a bare constitu-
tional majority of twenty-six votes.
The bill requires all corporations
with more than $4,000 capital doing
business in Iowa to pay an annual
license fee to the state treasury.
This fee is fixed at $40 on capital
of $4,000 to $1CO,0O0; SIS on capital
of 100000 to 100000: $40 on CAPT
on capital over $1,000,000. 1t requires
sworn report to be made annually
by each corporation, showing name,
location, capital. stock authorized,
stock issued, value, names and post
office. of officers and directors. If the
report is not made and the fee not
paid within sixty days the secretary
may revoke the certificate and per-
init of the corporation, provided he
may reinstate them upon payment of
the tax and expenses of collection and
making its report as required.
Direct Inheritance Tax.
At meeting of the ways and
means committee of the senate bill
providing for the taxation of direct
inheritances, prepared by Senator
Gillilland at the request of special
committee composed of Senators
Smith of Mitchell, Saunders, Dun
ham, Maytag, Gillilland and Lambert,
was reported out for passage and
was placed on the calendar.
Its provisions are as follows:
Section 1467-F. Where the share
of the Inheritance falling to the
father, mother, husband, wife, lineal
descendant, adopted child or the
lineal descendant of an adopted child
of decedent, after the payment of all
debts, exceeds the sum of $4,000,
such excess shall be subject to tax
as follows:
"0n the first $4,000 or fraction
thereof, / per centum.
Son the second $4,000 or fraction
thereof, 2 per centum.
"On the third $4,000 or fraction
thereof, 8 per centum.
con the fourth $4,000 or fraction
thereof, per centum.
"And on any sum or interest be-
yond such fourth $4,000, per CEN
tum.
Provided, however, that to the
surviving spouse there shall be ex-
empt the full net one-third of the
estate, however large"
There is no way in which the
revenue from this law can be esti-
mated until it has been in operation.
The method and machinery of COL
lection of the collateral inheritance
tax are made applicable to this meas
ure, by provision inserted as Sec
ton of the bill.
Railway Bills Before Senate.
While the senate committee on
railroads voted, nine to seven, to
recommend the Doran speed limit
bill for Indefinite postponement, it
number of railroad bills, including
the anti-pass, the Allen demurrage,
the Lee cattle guard and the auto
railroad measures.
w. l.. Eaton of the state railroad
commission, which recently reduced
live stock rates in Iowa more than
eighteen per cent, says that the COM
mission will have power under the
law as it will be after the present
legislature has acted, to remedy most,
if not all of the evils of which there
has been complaint in the matter Of
failure to furnish cars, and will be
able to do much in regard to COMPEL
ing better speed in handling freight
Joint Rate Biir Passes.
The Jamieson-White Joint rate bill
passed the senate on the 25th. This
measure was offered in the senate
by Senator Jameson of Page county,
and in the house by Representative
White of Story county. 1t gives the
railroad comission full power to fix
Joint rates for railroads handling
shipments between Iowa points.
u first passed the senate, a sub
s. passed the house and later the
house substitute passed the senate
without dissent, going now to the
governor for his signature. It Is
thought 1t will prove of immense
benefit to all the manufacturing in.
terests of tho state of Iowa.
Des Moines Bill a Law.
Governor Cummlns has signed the
Des Msanes plan bill. He also signed
the municipal league bill. Both
measures will be published within a
dag or two, thereupon becoming the
law of the state. The Des Moines
plan bill gives twenty-five per cent
of the voters at the election Of last
November in Des Moines and other
cities over $4,000 big, the right to pc
tition for a special election at which
vote shall be taken on the ques-
ton of whether the Des Moines or
commission plan of municipal gov
eminent shall be adopted.
/. The Hacker bill on contributory
negligence passed the house by vote
of 81 to q. Under the present law
the court, when contributory negli-
gence is shown, take the case from
the jury and instructs for the defen-