The fiscal problem in Missouri

Bibliographic data

Monograph

Identifikator:: 1833271335

URN:: urn:nbn:de:zbw-retromon-230042

Document type:: Monograph

Title:: The fiscal problem in Missouri

Place of publication:: New York

Publisher:: National Industrial Conference Board, Inc.

Year of publication:: 1930

Scope:: xvi, 359 S.

Digitisation:: 2022

Collection:: Economics Books

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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter X. Problems of tax burden

Collection:: Economics Books

PROBLEMS OF TAX BURDEN 291 souri! It was indicated also that the ratio for Missouri was approximately the same as that for all corporations in the United States. If the total taxes paid by Missouri corpora-~ tions amounted to $0.38 for every $1.00 of net income re- maining after the payment of taxes, it follows that taxes were equivalent to approximately 27.5%, of net income before the payment of any taxes” It was pointed out that the returns used were those from Missouri, and in the discussion that follows emphasis will be placed upon this limitation, as well as other limitations. There are sound objections to the use of the combined data from the federal income tax returns for the purpose of interstate comparisons of corporation taxes paid or corpora- tion tax burdens. These objections seem to be so significant that it is doubtful that any conclusion reached on the basis of a comparative analysis of the combined data for all cor- porations or all corporations in a given class can be given much weight. In the first place, the returns from Missouri include property taxes and other taxes paid on account of branches and business done in other states. The data are particularly unreliable for the purpose of indicating corpora- tion tax burdens in Missouri, as compared with other states, for the reason that both St. Louis and Kansas City are located on the borders of the state and a number of corpora- tions have extensive properties in other states. The result is that the state and local taxes which are used for Missouri in making comparisons of this kind include large amounts of property taxes paid not only in adjoining states but in states a considerable distance from Missouri. If it could be shown that the taxes paid by corporations reporting from other states on account of properties owned and business done in Missouri offset the taxes paid in other states by corporations reporting from Missouri, the validity of the data would be greatly enhanced. Any assumption of this kind, however, is largely conjectural. Another objection to the use of the data as indicated re- lates to the assumption that the ratio as computed from the combined income and tax data is typical. It is true that the 1 The Taxation System of Missouri, 1929, p. 31. That is. $0.38 divided by $0.38 plus $1.00, or $1.38, equals 27.5%.

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