Separation of State and Local Revenues in the United States (Paperback)

This historic book may have numerous typos, missing text or index. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. 1917. Not illustrated. Excerpt: ... shall not do business on more favorable terms than domestic. The tax was repealed in 1913 but reenacted in 1915, following a reversal of the decision in the Mulford case (Albert Pick Co. vs. Jordan, Secretary of State). The poll tax was repealed in 1914. 4. ADMINISTRATION OF THE NEW LAW After a trial of two years the administrative officials pronounced the new system practicable,1 and there has apparently been no change of opinion since. The work of assessment for state taxes proved at first to be very heavy, and the state board of equalization was relieved of none of its former duties, except a certain amount of equalization of county assessments, for it had to continue its regular assessment work for the Panama-Pacific Exposition tax and the bond redemption taxes. Because of the pressure of work it was found necessary to leave assessments for bond refunds to local assessors, subject to state supervision.3 Although its duties were for a time exacting, the board met with but few difficulties in the new work. The tax on gross receipts was found easy to administer, and the public service corporations cooperated willingly in giving the necessary information. Investigation of their sworn reports resulted in but few corrections, and these were such that the amount of taxes due to the state was slightly reduced.8 Some technical difficulties arose in assessing banks, due to the custom of keeping the books in such a way as not to make too favorable a showing (this being in the interest of sound banking). It was also found difficult to get a correct statement of undivided profits, some of which are carried as interest, exchange, collection and dividends un 1 Conference, 1912, p. 170. 'Report of Controller, 1912, pp. 28-29. * Conference, 1911, p. 125. paid. There was a li...