Omaha daily bee., 1909-11-27
NEW STATUTE Is COMPLEX

WASHINGTON, Nov. 26.--The corpora
tion tax regulations are complete and
ready for the printer, reported Secretary
of the Treasury MacVeagh and Commis-
sioner OF Internal Revenue CRbell to
President Taft at a brief conference at
the White House this afternoon 1t has
been a great task to meet all the ,com-
plexities Of the law and the expected at
tacks upon it by the corporations.
The latest estimates indicate net rev.
enue under it of approximately S25, 900
annually and 10000 corporations are
likely to have to pay corporation taxes.
There are many uncertainties about its
effects. In one of the far southwest
states, for instance, it has been found
that not over 10 per cent of many thou
sands Of corporations whose official OK
istence was authorized have ever actually
done business.
Improper registration in many cases Is
fully expected with such a gigantic
scheme, but the seriousness OF the penal
ties under the law will apply just the
same to those who fail to get the forms
and regulations. The mailing Of the
forms and blanks to every corporation
listed in the various districts is not spe-
officially required by law and is merely
to assist the corporations.
Those not registered should apply imme-
dately to the collectors. All the returns
are required to be in the collectors hands
by March l. then sent to the internal rev.
enue bureau here, where the tax will be
assessed and the taXpdying corporations
notified by June /, the tax to be paid by
July /.
The government takes the position that
the tax, while It is for the calendar year
preceding the collection, really does not date
back, that it is an excise and not an in
come tax and that it is, in fact, merely
license to do business during the year fer
which 1t is collected
BnttIeshipS for MiddIes.
For the first time in the history of the
| United States Naval Academy midship-
mon will have the use next summer of
three battleshlps for their annual practice
cruise Acting Secretary Winthrop Of the
Navy department today assigned the Iowa,
the Indiana and the Massachusetts for
! this aarvlce.
The use OF battleships in place of the
much smaller craft usually assigned to the
midshipmen will enable the embryo Of
flcers to take an extended sea cruise.
Mediterranean ports will probably be
visited in the next cruise, which will take
place in the three months following
| graduating exercises in June.
Debut of Miss NOyes.
Misl Frances Noyes, daughter Of Mr.. and
Mrs. Frank b. Noyes OF Chicago made her
initial bow to society here today at a tea
at her parents home on Vermont avenue
Those in the receiving party included, in
addition to members OF the younger social
set of Washington, Misses Maria Landreth
Francisco, cousins OF the debutante.
Diplomatic Post for Kerens.
Richard c.. Kerens OF Missouri, according
to a report current here, probable will be
appointed Ambassador TO Vienna upon the
assembling Of congress on December c. Tho
State department officials, however, are
noncommittal on the subject and decline TO
give any information bearing upon w. hlF.
Kerens friends who have taken an active
interest in his candidacy, believe that he
will receive the appointment.