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 XI. Sources of additional revenue

Collection:: Economics Books

308 THE FISCAL PROBLEM IN MISSOURI years. The changes in administration that have been sug- gested are of so vital a nature that it may require some time for maximum advantages to be obtained. It will be neces- sary, therefore, to consider the past record of collections from this tax as a guide, making only a moderate allowance for increased revenues due to increased efficiency. No accurate forecast of revenues from this source for a number of years can be made until such time as the administrative and other adjustments have been in effect at least one year. This phase of the problem will receive further consideration in the section on the income tax. Property Taxes It has been pointed out in a previous discussion that it does not appear to be desirable to abandon the state general property tax, for the reason that the state will be in a better position to put the suggested administrative changes into effect if it has a direct interest in the revenue derived from this source. Another reason for continuing the state general property tax, at least for several years, 1s found in the fact that it is impossible to estimate with any degree of accuracy the receipts from the income tax that may result from im- proved administration and the abandonment of the general property taxation of intangibles. Also it would seem to be better policy to continue the state property tax at the present rates or slightly higher rates until the time when it may be possible to obtain definite evidence concerning the effect of the changes in the rates and administration of the income tax than to reduce considerably or to abandon the state rate on property and to increase the income tax rates to a greater extent than might later prove to be necessary. This factor, together with the administrative factor, seems to warrant the continuance of the general property tax rate for state purposes at the present level. It seems probable that Missouri may consider a form of classified property tax that would make possible the taxation of intangible forms of property at low rates. In recent years several states have experimented with a low-rate tax on intangibles in the hope that it would solve the problem of the escape of this form of property from taxation under the

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