The sun. [volume] (New York [N.Y.]) 1833-1916, 1910-06-23
TALK OF A STATE INCOME TAX
JTGII iTHE LEADERS SERI-
OJNn CONSIDERING IT.

AfNANN UNIV - NuA" WV AAAoa ,
,-.-al message u the I.sEislAtRs Monday
,srr A state income tar Law could be
,,..sI a, tho spectral session The Re-
rghHr,r legislative leaders are seriously
considering such Law and one may bo
rrrr. ricet IN q day or two
The hiIl suggested by Gov. Hughes,
proposing a progressive Inheritance tar
ha.~t rpou tho amount % tho transfer 70
me individual leEatce. transfers. or
aonee VA, completed tonight and win
b. irtr duced IN the Legislature to-mOr-
,u The plan 81 the bill is based upon
ne statutes u California and Wisconsin.
Witch states nos have progressive in.
hs-i,anos tax laws lt is estimated that
,ss-sysnues Of the state viii no increased
b. 81 iooO or u.Oo.OOa
The rlll IL more favoIable toward small
estates than the present law. Under the
5-ssen' Law II the amount Of the estate
/. c.s than SiOOOO and Il IL bequeathsd
70 n.a- relatives it IL exempt from taxa
ION. bat 4 tho amount equals or exceeds
5000 the whole estate II subject 10
A,auon Unde. this bill the father,
mother widow and mi nor children are
ra-a7tcet ex emption To the extent Of
s. ~ Without any regard 70 the amount
Of estate Thus n mCa with an estate
sfE5 40 leaving a widow and four minor
children may - distribute Il that the
ntrg estate will be exempt from TAXATION,
shch would be impossible under the pres
ont law This would Oncble a man Of
rcderste means 10 provide fair income
IN his widow and minor children without
Lnv depletion Of his estate on account Of
TAXATION II il only Whcn he Individual
'sEACies reach the sum Of $4,000 that an
Increase in tax IL proposed Then the
Increase IL imposed only upon the excess
The eject Of the ball - thus 20 reach
srss fortunes without Afecting small
states. especially where they pass 10 near
-slGuve- While tho rate ~ tar runs ~
high - Is ger cent on the excess Of large
states passing 70 collnterala. strangers
20 CORPORATIONS. Il muet not be inferred
mat the TAX on the entire he1uest h % per
cent for the reason that u h only impOest
UPON the sxcoss over N.OOOOO Under
NJ bill the following transfers are exempt
from taxation:
I Property to the amount Of tlO0 or
Fss transferred ~ . collateral relative
Or stranger This Il 60 cover small he
uiests Of wetchas. heirIooms. Ao.
?. Property b the value q $50 o. less
y husband. brothsr. sister Or the wife
b widow Of a s1n or the h.isliaud of
elughteF.
Property 10 the value oF ts.OO Or
~ TO father. mo'heF; widow " minor
t.dh
The amount Of taxes under this bill
all he.
Individual trRnsgers 20 collateral
rnuves OF strangers eEoseding 500 In
value are taxed az the rRts ol s per cent.
a. under the present hW. u the trans.
i,' exceeds tzS.Ooo the rate l. 10 per cent.
% The excess up tosnd including slo0.OO0,
4 ne transfer exceeds si00 90 the rate
> Is PER ONT on the excess up 20 and
including GOO.O0. n the transfer sx-
c,-ds NOO 40 the raB h 70 per cent. on
me sScs-- up 10 and ihol,Ssing the sum
o. H.yOOO. II the transfer exceeis
3 "ni the rate u z5 par cent upon
% EXCESS
lndl vioilal transfers ~ a husband.
brother sister. wife OF widow Of q son.
70 The husband ot a daughter IN excess
q So aad individual transfers 90
father mother widow OF minor child In
srce-s n $500 arc {, xahls at per cent.
l2 20 and including t2s.OOO. II the transfer
lics-is ss5.OO tho rate Il , per cent. ON
'-s excess up 70 and including SiOO.OoO.
r No. transfer excseds siOO.OOO the rate
per cent. On the excess up % and IN
r'gding Inc sum Of $4,000. II the trans
'sr exceeds 5000 tho rate n per cent
20 'hs stcess up to end Including the sum
n 8 10 40, Il tho transfer sxcssds
IN IN the rate u per cent. upon the
syress
Il seemed apparent to-day that the
Cobb compromise direct nominations
'A would not pass even the senate
y 'hs special session AZ the regular
-ssion the bill passed tho senate BY
party vote Of - 10 -. while In the
assembly, u vas defeated BY . vOts Of
sy's - hoes 70 The plan 70 dsfoat the
t'5b hII IN the senate a. this session
lenntempla,es The absence from any
'ohierence Of Republican Senators that
nay hs called 81 enough senator's to
1eyent the Attsndancs Of tventy-six. 80
'hai the conferences cannot b turned
70 q CAUCUS. ~ u rsqmrss twenty-aiK
No'as 10 nass a bill In the senate.
h'eAsr three senators who Arr support
- n either the Hlnman-0Fesn or tho
'oot h'I have mustered up courage
-aoggh % lake position that hey viii not
T1s 10 make either Of thsas bills q party
nsas1ra ~ he special session. Such
''lan0r would leave tho Cobb bill only
''h'7 voice N a Republican caucus and
ny 'vsDrv-'hres votes when It comes
Do he 5anats on final passage nest
thursday night
no N"ra's and Assembly each held
'psIatlre day sessions to-day. Similar
-'s'1ns R..' 10 held On thursday or Friday
20 AnHfay night and naHt Tuesday and
an@sday Il has been dsodsd that The
w 'isin"ss session of the Lsglslaiurs
"a. b" h"ii ~ $50 O'Clock % Thursday
ny anf iseypsctsd that the work Of
n sT""a. -"ssion can BE- oomplstsd by
~ Frfay OIL ght following.
senator kissel and Assemblyman VIII
.'aoA today introduced the Kisssl pri-
rr-'y reform biil. which applies only %
IelleT AnA Inrk N nrnRidal lnr an