Smyrna times., 1921-03-30
|YlDL BILL RUSHED THRU
|GlS|NG HOURS OF SESSION
|,crSLATURE DOES AWAY WITH
.yCpoRTATION-AIDS RURAL

H,uuty Boards Are Done away WIN
state Board Will Look After all
s.hoOls-Overhead Expenses Cut
Dartisan vote of 1S to II, with
H .rats voting affirmatively and
pDSlicans negatively, the House of
u Pssontatives, Friday afternoon,
Il the House State School Tax
ID ga 'sLdroinistrative bills, which were
sad bv Attorneys Richard r.
oT and Charles F. Curley. The
Iti S;l was discussed and amended,
" 4bsre was no discussion on the ad-
;.+rative bill. The bills were con-
..d in by the Senate by a non-par-
!" - vote of u to 5. The tax fea-
= : are substantially like the tax
..nre previously passed by the
.to so far as it relates to the tax
4 ;ndividual net incomes, but it diff
I. radically from the Senate bill in
h TAX corporations are obliged to
In this bill a tax of rs cents is
q ..d on each 500 of the actual val
u II the corporations invested capi-
IN this State. Invested capital is
4 ssnsd as the difference between the
'.ns Of a corporations assets and the
4 .-0nnt of its debts. A procedure is
Iri.bed for ascertaining the tax
n invested capital in this State of a
~moratiOn a portion of whose capi-
!. is invested outside the State. The
4 S.rate bill placed the tax on Delaware
.-norations only. This measure
.Iacps It on all corporations with in
,ested capital in this State, but in
reduces a provision designed to pro-
,st against retaliatory laws of other
Sates. The amount of the taxable
nysted is to be determined as of De-
nnber 81 of each year, except in the
ss Of corporation whose fiscal year
different from the calendar year.
SInOus Kinds of Corporations Exempt
3 Various kinds of corporations are
Il mpted from taxes, such as: Labor,
tcultural companies, fraternal and
fcial societies, building and loan
cations, cemetery companies,
So dbers of commerce, social clubs,
ual bail and fire insurance COM
les, banks, savings banks, insur-
H. companies, trust companies
se latter being taxed under an
Ger act passed at this SESSION., and
lDOrations which, under existing
zs, pay lump sum to the State IN
b of all taxes under the laws of this
/ sate, and corporations merely main
1ning an Office in this State with a
xident agent in charge thereof for
lie purpose of keeping original OF
|hplicate stock ledgers and holding
|npOrate meetings herein. The bill
LsO provides for a State tax commits
iOner, who will be the administrative
uHeer to enforce the law and collect
he tax. An appeal is allowed from
ny decision of the State tax commits
iOner to the State Tax Department
md from the State Tax Department
70 the Supreme Court. The present
Income Tax law is retained until No
Vsmber l, 1921: The first taxable
year under this revenue act is the
year 1921.
State Board of Education Appointed
In the administrative bill taken VI
nd passed, the county boards arr
done away with and the State Boar'
comprising four members is appoint
ed by the Governor. An effort wa
made to have the State Board ELECTIVE
but it lost out. Under the new Law
the State Board is to meet once
month and its members are to receiv
25 each month they meet. In tn
new law much of the overhead eX
penses are cut down. The transpor
tatOn of pupils is cut out and school
other than Special Districts are al
lowed to teach up to the ninth grade
Other changes were made giving tn
rural districts more power over thei
schools. Just what these are and a
well as other changes made in the lay
cannot be learned as but few copies o
Ihe bill are in existence and none hay
been published. The special schoC
districts are maintained and then S
lar as the law effects the working G
there is practically no change. Tn