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 III. The Missouri tax system

Collection:: Economics Books

THE MISSOURI TAX SYSTEM 87 private car tax; (2) the poll tax; (3) the inheritance tax; (4) the income tax; (5) special taxes on business, including incorporation taxes, the corporation franchise tax, the foreign insurance company tax, and the express company tax; (6) the gasoline tax and motor vehicle licenses; and (7) miscellaneous business and non-business licenses and permits. This order of treatment is not intended to indicate the relative importance of the several sources of tax revenue. The General Property Tax The general property tax is an important element in the state revenue system of Missouri, and predominates in the finances of all local governments in the state. The real =state and the tangible and intangible property of indi- viduals and corporations are taxed at the same rate. The required uniformity of rates is, however, applicable only to a given taxing jurisdiction, and the combined state and local rate on property is not necessarily the same in the case of any two local governmental divisions. Merchants are taxed at general property tax rates on the largest amount of goods, wares, and merchandise owned or under their control between the first Mondays of March and of June in each year, and manufacturers are similarly taxed on all raw material and finished products, as well as tools, machinery, and appliances used or owned. These taxes on merchants and manufactures constitute a special category of general property taxes, which in official state sources is referred to as the “Merchants and Manufacturers Tax,” In form this tax is a license tax, but in fact it is a property tax. The exemptions from the general property tax are com- paratively few in number. As has been seen, the constitu- tion provides for the exemption of public property, ceme- teries, and a certain amount of real property when used for charitable, religious, or educational purposes. Shares of stock in manufacturing companies are not taxable to the owners. It has been held by court decision that, if a cor- poration pays taxes on its property, the taxing of stock- 1 Specific mention of the merchants and manufacturers tax is made in this -hapter in order that its status as a property tax may be definitely established.

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