340 THE FISCAL PROBLEM IN MISSOURI 
relatively over taxed. The problem is largely a matter of 
intangible property escaping taxation under the general 
property tax. 
The Missouri income tax is predominantly an urban tax. 
For taxes of 1928 the per capita personal income tax levy in 
St. Louis City was $1.40. St. Louis City, St. Louis, Jackson, 
Buchanan, and Greene counties accounted for 89.9%, of the 
personal income taxes levied in the state, and in this group of 
counties the per capita levy was $1.34, an amount twice as 
large as for the state as a whole. An analysis of the com- 
bined personal and corporation tax levies leads to the follow- 
ing conclusions: (1) the per capita income taxes levied are 
larger in those counties that have a large urban population; 
(2) the poorer counties contribute almost negligible amounts 
to the receipts from this tax; (3) the corporation income taxes 
are paid largely by the comparatively few counties of the 
state in which the larger cities are located; and (4) when all 
of the counties in the state are considered, it appears that 
the Missouri income tax is largely an urban tax. 
In the absence of satisfactory data, no definite conclusions 
can be laid down in respect to the relative burden of taxes on 
corporations in Missouri and other states. In the calendar 
year 1928 the federal corporation income taxes collected in 
Missouri amounted to a little less than $34 million. Although 
the amount of federal income tax payments attributable to 
business done in Missouri cannot be accurately determined, 
this figure and the relatively higher urban tax rates on 
property afford reason for accepting the conclusion that “the 
business interests of Missouri, excluding farms, pay half or 
more of the total taxes.” 
National banks in Missouri are taxed on their real estate, 
and the shares are also assessed for the general property tax. 
In addition to these two taxes, banks chartered by the State 
pay a corporation franchise tax and are assessed for the 
income tax. The result is a discrimination against the state- 
chartered banks. Since state banks are ordinarilyin competi- 
tion with national banks, the two extra taxes cannot be 
shifted to customers, except possibly in unusual cases. Other 
things being equal, the extra taxes would result in smaller 
dividends or smaller total capital Liabilities.