The Sunday telegram. [volume] (Clarksburg, W. Va.) 1914-1927, 1915-06-06
.LlVCOl1E FEATURE
or OMNIBUS


fpensated by. Insurance. or>otherwtse,
includdng a.reasonable allowance for
depreciation by use. wear and tear
OF DroperIy. IL any. and in the case
of mines. reasonable allowance 1or
the depletion OF ores and Of other nat
ural deposits. MOTTO exceed nve Per
cent Of the gross value at the mime
Of the output for the year for which
the computation is made: Interests
and taxes actually paid, also. are -e1-
.emuted. as well as all amounts re-
ceived by it within the year as diy1-
dends upon stock of other CORPORA
lions subject to this tax
The income tax is TO be computed
upon the entire net income accrued
within the year ending December 81:
1915, and for each calendar OF dscal
year thereafter A company. when
assessed on its return by the state
az corr mission, which feels that its
assessment is too high, may, within
thirty days. apply for relief TO the
state board OF public works. The
tax is required to be paid within sixty
DAYS from the date Of the mailing OF
the notice Of the amount OF It
Penalties Attached.
A penalty of $500 and 1mprtson-
ment for one year is provided Tor
against making false return on in
prisonment for one year is provided
against any emp1oye OF the state di-
yulging any OF the information con-
tanned in the reports Of the CORPORA
tons.
Including both old and new laws.
West Virginia, with an approximate
population Of 100000 will have a
per capita tax for state purposes next
year OF S2.38, the lowest Of any
statement just issued by Governor
|Hatfeld.in which he presents an es-
innate OF the state revenues. He
estimates that the omnibus bill VIII
produce $1,250,O00-
But the fixed per capita cost
would be much less than 1888 II the
state had sufficient funds on hand
with which to meet all appropr1a-
lions made for the period prior to
July 1, 1915 says the governor. IT
then would be necessary to raise less
than $3,0OO,OOO to meet the appro-
priatfon for the year 1915. including
the transfer of the general school
fund and the items vetoed in the
former appropriation bill for that
year, tented as follows:
Appropriations for the year end
ing June so, 1916, $1,934,000; es-
timated transfer to the general school
fund, $4VU,UVV1f SldGS dA0 ~ AA9AA
schools. $4,000; vetoed appropr1a-
tons. S375,0oO; total S2,795.0o0-
Thfs would make the per capita cost
only $1.66i
J Summary of Funds.
The summary Of the funds to be
raised from the old and new revenue
bills follows: From the 14-cent levy
on real and personal property, ST.
,, $780, 900: from privilege tax on net
income of all classes of corporations
based upon one-half of onne per cent
net earnings. 100000; from char
ter tax, $S0O,00O; from licenses tax
collected, collateral Inheritance tax,
auditor and secretary of state ices.
automobile licenses, etc, S775,OOO,
making a total of s3.575.ooo.
Income of corporations doing bus
mess within West Virginia upon
which federal income tax was based
for year ending June so. 1914, and
estimated tax which viii be paid by
each class under the West Virginia
law:
| Glass A-Financia1 and CONNER
cia1. 100000; tax at one-ha1f OF
one per cent, $4,000
Class B-Public service-Oil pipe
line companies, S2,0o0,000; tax at
one-half of one per cent. $4,000
Gas and gas pipe line companies.
s7.OOO,oOO: tax at one-haf OF one
per cent, SIS, 1000
Railroad. steam and electric, s1o.-
Ooo. 900: tax at one-half Of one per
Miscellaneous, $1,000, 900; tax at
one-kalf of one per cent, 5000