Daily press. [volume] (Newport News, Va.) 1896-current, 1910-02-10
WANTS AMERICAN co.
TO PAY MORE MONEY
Passage of Bill by the Legislature
Would Mean an Annual Revenue
to State Of Virginia of About $780,
O0o-May Touch Standard Oil
Concern Next.

Thy Associated bTesSD
RICHMOND, VA. Feb. "a
license tax on corporations was intro
duced into the house of delegates to-
day by Speaker Byrd which would
Tot be in lieu of the property tax
which is now in effect.
1t is especially directed at the
American Tobacco Company. the re-
ceipts OF which in Virginia amount to
at least S24 10000 annually on which
il pays little or no tax. The new TAX
win require the company TO pay
nearly 100000 annually.
The principal followed is a system
of license taxes, the amount of which
is based upon the, gross receipts of
The person, firm, association or indi-
,idual doing business in Virginia or
manufacturing any form of tobacco.
The idea. Speaker Byrd frankly con-
fesses is borrowed from the English
income and inheritance tax, which is
progressive upwards.
Later on will come a D:;i calcu-
lated To interest the representatives
OF the slippery oil octopus.
The bill offered today. of course.
contains penal clause, which makes
failure to file the necessary report
ON which the tax is based. a mis-
demeanor punishable by fine of not
less than S25 nor more than 500. Re-
ports must be made to the commits
sioners of the revenue.
The closing paragraphs of the pro-
posed act read as follows:
Amount Fixed.
The amount of the said license tax
shall be ascertained and fixed as fol-
lows:
(a) Upon the first one million OF
dollars of receipts or less, the amount
OF the license tax shall be equal TO
one-twentieth of one per cent, of such
receipts.
tb) III the receipts are over one
million dollars and less than two NIL
lion dollars. the license tax shall be
equal to one-twentieth of one per cent.
On the first million plus one-tenth OF
enc per cent. on the receipts over
che million.
(cl If the receipts are over two
millions of dollars and less than three
millions dollars, the license tax snail
he equal to one-twentieth of l per
cent of the second million, plus one
fifth of per cent OF the receipts
over three millions
id If the receipts are over three
million and less than four million
the license tax shall be equal to one
twentieth of | per cent of the hrst
million. plus one-tenth of l per cent
o.f the second million. plus one-ffth OF
l per cent OF the third million plus
two-fifths of l per cent. Of the re-
CENTS over three millions
fe) IL the receipts are over rouf
millions and less than five millions
the license tax shall be equal to one
tweutieth Of / per cent OF the hrst
million. plus one-tenth OF / per cent.
If the second million. plus one-hfth
IF ner cent. of the third million
rlus twc-ffths Of per cent OF tne
fourth million. plus four-ffths OF !
rer cont of the receipts over four
millions. g.
an II the receipts are over nve
r,illion dollars. the license tax sndii
le eoual to one-6fth Of per cent
~ the third million. plus four-nitns
~ 7 ner cent. of all receipts over
FIVE millions .;
ehafI not he in lieu OF the properly
az n no charged on ali personal
rroper,v. had OF used IN the CONQUER
md operation Of the business OF such
version firm. association OF corpora
ton. 800
I, is reportcd on seemingly goco
,,shor;tv that the American Tobacco
comuanv gets almost fabulous pso-
cts from is operations in tbs Sta's'
pumor even says that ts Aiien x
r,.-..- h~.-rh alone Yields gross re-
ceipis Of from szo.eeo.'oo 10 S-'-'
eco. -. -
,uuch-revenue the Byrd-Cox PSI -
Weld. u IL Is passed X VII p.o $780,
" mcaa several HUNDREDS e''''''''''''
collars a year Tor the STATE