The Farmington times. (Farmington, St. Francois County, Mo.) 1905-1926, 1916-12-29
SOME PROPOSED TAX MEASURES

SOME PROPOSED TAX MEASURES
The tax commission named by Gov
ernor-elect Gardner during the con-
ferences he has been holding closed
its inquiries in st. Louis last Friday
with recommendation of the follow
ing tax measures: The institution Of
a State Tax Commission; general
inheritance, corporation, mortgage and
secured debt tax, increase in State
dramshop license and a State tax on
pool tables. subcommittee to draft
bills along these lines to be submit
ted to the General Assembly have
been appointed, and these committees
expect to have their bills ready when
the Legislature meets.
Attorney-General-elect Frank w..
McAllister presented a tentative bill
to tax corporations, which proposes a
tax of $1.0O per hundred on the CAPT
tai stock and surplus of all corpora
tions in the State. The rate of $1.00
per hundred on the capital stock
sounds rather exacting and would be
a hardship on many of the smaller
corporations, and on some of the larg-
er ones, too, perhaps. This measure
is likely to meet with, strenuous OPP
position. II s..,..s.. I'll. g..
The general Inheritance tax pro-
posed would abolish the collateral in
heritance tax, the revenue from which
now goes principally or wholly to the
support of the State University. The
general Inheritance tax, if the meas
ure is adopted, would go into the gen.
eral revenue fund, and. the University
would have to depend wholly on ap-
preparations by the Legislature for
its maintenance. The University is
one of our most priced and popular
institutions, and would not be allowed
to suffer, but it is intimated that the
University authorities will oppose the
measure. " '."O
The tax on mortgage and secured
debts has always been a hard one to
solve satisfactorily, but there is no
reason why a bill may not be drawn
to dispose of the question in prac-
teal and equitable way; without tax
ing both the mortgaged property and
the note it secures. The land can al
ways be found by the assessor, but
not SO the holder of the mortgage
note. In any event the assessed val
ue of mortgage note ought to be
deducted from the assessed value of
the land on which it is a lien.
An increase of the State tax on
saloon license will hardly meet with
opposition from any source at this
time, but a majority of our people
outside the large cities are hoping that
at no distant day this source of rev.
enue may be wiped out altogether. A
State tax on pool tables also promis-
es to prove POPULAR =
The most far-reaching of the pro-
posed measures is the institution of
State Tax Commission, to be known as
the Missouri Commission on Econom-
les and Finance. A bill to be presented
for the consideration Of the Legisla-
ture has been drawn UP by, Secretary
of State Roach. It provides for a
commission of three members to be
appointed by the Governor, each to
receive salary of $500 a year. 1t
will have unlimited powers in OBJ
tanning data from individuals and cor
porations liable to assessment with
a severe penalty for those who re-
fuse to furnish information asked for.
1t will nave supervision over all as
sessing officers of the State and of
county boards of equalization, and it
is to furnish The State Board OF
Equalization az each session a state
ment of the value of the taxable pre-
perty in each county. In short, the
bill would give the Commission as
much power over assessments as the
Public Srvice Commission has over
public utilities.