Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-06-08
MICH INTEREST
uER MEETING
D TALK TAXES
CItens to Confer Monday on
FferaI Measure-ReaIty Man
Says "Let 1t Alone"

Seeral seeming 'jokers" have beer
Ioun in the proposed Federal fncom,
TAX wv not the least ominous q
whiois a clause which it is contend.
cd vi make losing" real estate firm,
pay axes on the money they hay,
IosI his condition is not expected +,
orinethe Government any revenue:
IN Atnta, but realty men are inter.
estedn it nevertheless.
Ihears Of local building managers
real tate dealers and propertv own.
SIs general went up when the cal
was 'unded for a protest over m.
ploNlons Of the measure now befor.
Cons ss, and the indications point n
a ar attendance Monday at noon
IN theooms. of the Chamber OF Com
HIefetnfth floor of the Empire Build.
ihs' aarles P. Glover was the first
locai atty official to scent the dan
ger INNS proposed legislation and he
sent u notices of the meeting in
me noe Of the Atlanta Real Estate
bosFuf which he is president.
ihencome tax bill has passed the
1ouse1t Representatives at Wash
ing Iohnd is now up to the Senate
oul Dere II reaches vote it will be
attack from many sources.
A pminent Atlanta real estate
man nd the following to saw in ex-
pianatn Of the feature of the bin
which ould compel tenants to with
mold rats from landlords:
E'mple Cited in Argument.
Supse we take the case Of ten
ants lthe Gambler Building, for
lnsJanc For people renting office
space t'rc 10 withhold fees from Mr..
Candlelto pay to the Government
would manifestly unfair and alb
surq. might be shown on inyesti-
CATION al Mr. Gambler didn't owe
the amnts withheld. In the mean
time, thtenants might move to 9TH
er sectl's, and various complications
would Hult"
The Ial Estate Magazine, Of New
YORK, hf begun a campaign against
the pressed legislation, and in this
the edit sets forth his objections, DIS
follows;
l-On a part of the interest ac-
tually pd on the Indebtedness by a
cOrpOTa.n can be deducted from the
gross tmme, and a tax is required
10 be I'd on interest which is ac-
tuaIly I'd out
- Threceiver must pay a tax on
all intest paid by a corporation
and a cporation must in turn pay
a tax oIa portion Of this same in
terest lus the same money is taxed
twice.
3-Re estate corporations are not
allowed deduct from their gross in
come tn amount Of interest actually
paid on or accrued, but only an
amount which does not exceed six
per cenOf their capital stock Under
this arrlgement a corporation con-
Quoting business at loss would De
obliged pay a tax on the money It
lost.
4-Thlaw discriminates between
COrporatns Of the same size engaged
in the sne business.
MAR manufacturing corpora
tions. intstrial and merchant, whose
indebted,ss is considera bly, greater
than the issued capital stock, will
be affecd in the manner indicated
above
BaImore Builders Protest.
A lettt Of protest has been sen:
by the Ocials of 8 office buildings
in Baltinre to Representative j.
Charles nthicum and Senator J.
Walter dith. The protest contains
the folding passages which fairly
representhe position Of office build
ing manprs In the matter:
THE DIVISION requires tenants
10 with)ld income tax from
their lailords The results in
pe-mittinuhe less responsible party
10 the traHction to retain money out
OF the inCne Of the more responsible
party moy which may finally be
come applable 10 the payment of the
tax and me Of which may be re-
turnanle the person from whom il
has been ithheld We beg 10 state
that this DIVISION would work great
hardship lon the large office build
ings and ould result In chaotic
state Of airs iu regard TO the pay
ment and collection Of rents. We
therefore quest that YOU take some
steps chaung the provisions Of TINS
clause so ne tax may be collected
from the rponsible parties, who are
the landloE.
Favor of Bill.
There istnother side to this dis
cussion hCevet. and the bill prom
Uses to fin some local support A
leading reaestate man declared that
the protesJhas been sent out by
Wall Streeinterests in an effort 10
discover teDnicalities and To embar-
rass the Inocratic administration.
This dealer aid
The peoe who have passed the
bill in the Ense are supposed TO have
some senseaud nobody rs going 70
suffer any hardships through IT,
When the InoCrats cut down on the
tariff they 3d TO have some other
source of renue, and tins income
tax is one. Ne ought 70 back them
up