Minimizing Taxes (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. 1922. Not illustrated. Excerpt: ... ARKANSAS (Revised to May 15, 1922) 1. General features of tax system Arkansas depends almost entirely upon the general property tax and licenses or privilege taxes; but there is also a poll tax, the proceeds of which are devoted to educational purposes, an inheritance tax, and a corporation tax based on the capital stock. 2. Where pamphlet copies of tax laws may be se cured The following pamphlet copies of the tax laws may be obtained: Digest of the Franchise Tax Laws of the State of Arkansas, 1918, address Arkansas Tax Commission, Little Rock; Corporation Laws of the State of Arkansas, containing the taxes on corporations, address the Secretary of State. 3. State taxing officials Arkansas Tax Commission, Little Rock, Arkansas. 4. Income tax There is no income tax in Arkansas. 5. General property tax (a) Base All property, except that legally exempt, whether real or personal; all moneys, credits, investments in bonds, stocks, joint-stock companies, or otherwise, of persons residing therein; and property of all banks or banking companies now existing or hereafter created, and of all bankers and brokers, shall be subject to taxation. "Real property" is held to include not only the land itself, with all things contained therein, but also all buildings, structures, and improvements and other fixtures, and all rights and privileges belonging or in any wise appertaining thereto. "Personal property" includes every tangible thing, being the subject of ownership, whether animate or inanimate, other than money, and not forming a part of real estate; all boats navigating waters wholly or partly within the state, and all capital belonging to inhabitants of the state invested in water craft located within the state. (b) Exemptions (1) Public property used exclusively for pub...