Proceedings of the Second Annual Conference on Taxation in Indiana, Held in the Claypool Hotel, Indianapolis, December 1 and 2, 1914, Under the Auspices of the Extension Division of Indiana University and the Indiana State Tax Volume 2 (Paperback)

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1915 edition. Excerpt: ...the State treasury. Very similar to the gross earnings tax is the gross premiums tax on the insurance companies. Both domestic and foreign companies, except town and farmers' mutual insurance companies, are required to pay annually a sum equal to two per cent of the "gross" premiums received in the State, less return premiums. Domestic companies are relieved of all other taxes except upon their real estate which is assessed in the same manner as that of individuals. The foreign companies are subject to the same taxes as the domestic companies, and, in addition to these, "a personal property tax on all of their personal property situated in the State. Since 1913 each foreign fire insurance company must also pay for the support of the State Fire Marshal's office a sum equal to three-eighths of one per cent of its premiums. The contributions of the insurance companies towards the support of the State government for 1913 amounted to $443,234.69. The special taxes the returns from which are divided between the State and local governments are the inheritance tax, the mortgage registry tax, and the vessel tonnage tax. Of these special taxes, the inheritance tax is by far the most productive as well as socially most significant. It is progressive for both direct and collateral inheritances, and varies in rate from one per cent to fifteen per cent, depending upon the amount of the inheritance and the nearness or remoteness of the relationship of the recipient to the decedent. The nearer the relationship and the smaller the sum inherited the lower the rate of taxation, and vice versa. Direct descendants pay from one per cent to four and one-half per cent; while the rate on collateral inheritances varies from three per cent to fifteen per cent. The amount...