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

Usage license:: Get license information via the feedback formular.

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Document type:: Monograph

Structure type:: Chapter

Title:: Chapter X. Problems of tax burden

Collection:: Economics Books

PROBLEMS OF TAX BURDEN 297 be included in the computation of the franchise tax, and the tax would be assessed on $1 million at the rate of $0.50 per $1,000. The corporation franchise tax would, therefore, amount to $500. Since the state bank is required to pay $1,500 more than the $15,000 that the national bank must pay, it follows that under the assumed conditions the state bank would pay taxes 10%, greater than those paid by the national bank. It is obvious that a 109 difference in taxes results in a competitive disadvantage. The extra taxes paid by a state bank cannot ordinarily be shifted to the customers of the bank in the form of higher interest rates charged on loans or lower interest rates paid on deposits, since in most cases state banks are in direct competition with national banks. Other things being equal, the extra taxes would result in smaller dividends or smaller total capital liabilities. Tue Burpex oF Moror VericLE TaxaTION Motor vehicle taxation in Missouri is lighter than in many other states. The rates for the license tax are moderate, and the two cent tax on gasoline is low compared with the aver- age for the United States. Motor vehicles are assessable as personal property, but many of them escape assessment each year, and the valuations of those which are assessed are ordinarily small as compared with their value to the owners. In addition to the state motor vehicle license and gasoline taxes and the general property tax for state and local pur- poses, a number of cities levy a tax on gasoline and collect motor vehicle license taxes in accordance with authority granted by the state. As a result, the burden of motor vehicle taxation varies throughout the state. Table 88 shows the average license tax per motor vehicle collected in 1929 in each state in the United States. The basic data used in making these computations were the total registrations, including trucks, and the license tax receipts, including the amounts that revert to the local governments. The receipts from licenses levied and collected by local governments are not included. According to this table, the average license tax per motor vehicle in Missouri amounted

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