Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1921-08-05
GENERAL TAX ON
TURNOVER VOTED
BY j. s. c. Of c.
Report Of the Decision
Reached BY National Body
in Referendum Vote Is
Received BY Local Lodge.

Notification was received yester-
day by the Albuquerque Chamber
of Commerce Of vote by the
membership of the Chamber of
Commerce of the United States in
favor of a general federal turn
over tax on all business transact
tons. The business organizations
comprising the chamber declared
themselves for this form of sales
in referendum that has been
completed.
AS a result Of this referendum
and previous one on taxation,
taken six months ago, the cham
Der has submitted to congress a
general tax program, which in
cluded the following proposals:
Repeal of excess profits taxes.
Repeal of war excise taxes, both
those on transportation and COM
munication, and those levied In re-
lation to particular businesses.
A tax on all turnovers to bring
In such revenues lost through these
repeats as the governments neces-
stiles require.
Decentralization of administra-
tion of income taxation.
Ascertainment by the govern
ment Of any tax based on in
come before payment.
A court or courts of tax appeals
to be entirely separate and indie
pendent of the treasury depart
ment.
Net losses and inventory losses
L. 90 rnHn-
termination Of taxation of income
of the previous year.
An exchange of property of a
Ike or similar nature to be consid-
cred merely as replacement.
Gains realized from the sale Of
capital assets to be subject to low
err rates than incomes received
from business or other current ac-
tivities.
Income from any new series of
securities, which lawfully may be
made subject to federal tax, to be
taxable.
Exemption of American resi-
dents abroad from the American
tax upon income derived abroad
and not RENTED to the United
States.
More than 500 business organi-
cations voted in the referendum
just completed. A preliminary
canvass shows that the most gem
eral demand, after virtually
unanimous demand in the previous
referendum for repeal of the ex-
cess profits tax, is for repeal of
the taxes on freight and express
oh D,,1I
man charges, and messages. e.,
for an end to the war excise taxes
on transportation and communica-
ton. For repeal of these excise
taxes there were LAB votes to 200
votes against.
The various organizations are
entitled to from one to ten votes,
based on their membership
strength.
The next largest vote is for re-
peal of war excise taxes levied in
connection with particular BUSH
nesses,-i. e., ranging from auto
mobiles and their accessories,
through theater tickets. beverages,
candy, jewelry, insurance, wearing
apparel, musical instruments, etc.,
to chewing gum.
The excess profits tax and the
excise taxes, the removal of which
the chamber urges to have been
estimated to produce more than a
billion dollars in revenue. So far
as the governments necessities re-
quire a replacement of the reve-
nue. lost through these repeats, the
voting which has Just closed means
that the chamber would have con-
gress use a tax on all turnovers.
In voting such tax the cham
ber's members had an apportuni-
ty to vote for an increase in the in
come tax on corporations. The
result of the balloting shows that
they decisively preferred the gen.
eral turnover tax.
The referendum which has just
closed was in effect supplemental
to the referendum taken in the
winter on taxation. The earlier ref
erendum was important in fixing
the chambers position upon many
questions but 1t did not produce a
definite result with respect to
sales taxes. A conclusion to dis
cussion among the chambers
membership on sales taxes has
now been reached, with an unmis-
taxable declaration for sales tax
and with designation of the gem
eral turnover tax as the type that
is widely favored.
On the issue between an In
crease in the income tax for cor
porations and sales tax, to take
the place of the excess-profits tax,