96 THE FISCAL PROBLEM IN MISSOURI 
$2,000.! When a husband and wife are living together, only 
one deduction of $2,000 can be made from their aggregate 
income. In the case of the head of a family, an additional 
exemption of $200 is allowed for each dependent child, if 
under eighteen years of age or if incapable of self-support 
because of physical or mental defects. A non-resident can 
claim personal exemptions by filing a return showing total 
income derived from all sources. Corporations are not 
granted an exemption. 
Special Taxes on Business Corporations 
The general property tax is by far the most important tax 
paid by business corporations in Missouri, judged from the 
standpoint of the amounts of taxes paid by these corporations 
to the state and local governments. Corporations, with the 
exceptions noted, also pay an income tax and certain taxes 
that may be be designated as special taxes. The group of 
special taxes includes (1) organization or initial taxes and 
entrance fees or taxes, (2) the corporation franchise tax and 
the annual registration fee, (3) the foreign insurance com- 
pany tax, and (4) the express company tax. 
The organization or incorporation tax is based on au- 
thorized capital stock. Any concern incorporating under 
the laws of the state is required to pay a tax of $50 if its 
authorized capital stock is $50,000 or less. If the authorized 
capital stock is more than $50,000, $5.00 additional is pay- 
able for each $10,000 or fraction thereof over $50,000.2 If 
the stock of a concern does not have a specified par value, 
each share shall be deemed to have a par value of $100.3 
Certain incidental fees are required for services rendered in 
the procedure of incorporation. 
The entrance fees or taxes on foreign corporations desiring 
to do business in the state are based on the proportion of 
capital stock represented by property located and business 
transacted in Missouri. The rates* are the same as for the 
initial taxes on domestic corporations, but, in addition to 
! Session Laws, 1927, p. 482. 
ZR. 8. 1919, Section 9735. The $5 per $10,000 rate applies to later additions to 
the authorized capital stock. Corporations organized for benevolent, religious, 
educational purposes, and so on, are not required to pay the tax. 
3 Session Laws. 1921, p. 664. 4 Session Laws, 1927, pp. 390 f.