Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1908-01-18
Merchants Discuss
Flaws In
Hawaii Taxation Laws
ASSOCIATION ELECTS new OFFICERS

other things erected on or affixed to
the same.
4. Personal Property. value
of stocks OF merchandise, furniture,
fixtures, and implements of trade and
profession, for taxation, shall be the
inventory value, less a discount of 20
per cent.
5. The inventory of stock must be
shown In detail in English figures and
language, and must accord in 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 In the merchandise
ledger and trading books of the bust.
ness.
G. The tax assessor or his deputy
shall at all reasonable times have &C.
cess to the banks Of any partnership,
firm, corporation or individual trading
in the Territory of Hawaii; failure on
the part Of any partnership, firm, cor.
poration or individual to grant to the
assessor or his deputy full access to
said books, shall render such partner.
ship, firm, corporation, or individual
liable to penalty OF not less than
800, and not exceeding $500.
Z. Inventory of stock for the pur.
pose of taxation shall be made each
year. All partnerships, firms, corpora.
lions or individuals trading in the Ter.
ritory of Hawaii. shall file with the as.
SCISSOR of the Territory, written notice
Of the date they propose taking stock,
and tax returns for same shall be
made within a period of thirty days
after taking stock. Failure on the
part of any partnership, firm, corpor.
alton or individual to take detailed
inventory of stock each year, shall
render such partnership, firm, corpora.
ton or individual, liable to a penalty
of not less than 500, and not exceed.
ing $500.
8. Any partnership, firm, corpora
ton or individual trading in the Ter.
ritory of Hawaii who shall be found to
have under-valued their stocks of mer.
| chandise, fixtures, furniture and i'm.
plements of trade or profession, for
the purposes of taxation, or shall be
found to have made false or untrue
inventory of stock, for the purpose Of
! evading taxation, shall forfeit all
rights to the discount allowed on
stocks of merchandise fixtures, furni'
ture, and implements Of trade or pro
| fession as provided in article No. 4
and after the value Of said stock has
been adjusted, 80 per cent. of the total
value shall be added thereto and the
tax of l per cent. payable on the
whole.
.. Definition of Personal Property.
The term personal property" for
the purposes of this act, shall mean
and include all household furniture, eff.
fects, jewelry, watches, goods, chat
| tells, wares and merchandise, machin-
| cry, ships or vessels, whether at home
I or abroad, all moneys in hand, lease.
hold and chattel interest in land and
real property, franchises, patents, con
| tracts, growing crops, public stocks
| and bonds not exempted by law from
taxation, and all animals not herein
| specifically taxed.
10. Partnerships. firms, corpora
tons of individuals selling merchan.
disc for profit in the Territory of Ha-
lwaii or professional men of all profes.
siOns, carrying no stocks of merchan
| disc, or carrying stocks of merchan.
disc less in value than one-fourth OF
their total sales or earnings, shall be
taxed one-half of one per cent, on
| their total annual sales or earnings,
and the books of such firms, corpora
| tions, partnerships or individuals, shall
at all reasonable times be accessible
to tax assessor or his deputy for eX.
| animation. Failure to grant to the
assessor or his deputy full access to
the books of the partnership, firm, cor
| poration or individual shall render
same. liable to a penalty of not less
| than 800, and not exceeding $500.
We would further recommend that
section S21 to section S37, inclusive, of
the present tax law, be Incorporated
in the above.
Respectfully submitted,
Il. A. McINERNY,
Chairman.
| w II JITCAS