THE MISSOURI TAX SYSTEM 95
organizations not organized for profit; clubs organized for
recreation, pleasure, and other non-profitable purposes;
various mutual insurance companies on an assessment basis;
title-holding companies operating on an expenses basis;
Federal land banks and national farm loan associations;
joint stock land banks, as to income derived from certain
specific sources; and express companies and foreign insur-
ance companies. EXpress companies and foreign insurance
companies, as will be seen, are subject to special taxes on
their gross receipts and are therefore exempt from the general
income tax. In order to establish that it is entitled to exemp-
tion, any organization may be required to furnish such
information as will enable the taxing authorities to determine
its exact status under the statutes.
In addition to the exemptions mentioned above, income
received from the following specified sources is exempt:
(1) proceeds of life insurance policies paid to individual
beneficiaries and return premiums on life insurance, endow-
ment, or annuity contracts; (2) compensation received under
workmen’s compensation acts on account of personal injuries
or sickness and damages received on account of same; (3) the
value of property acquired by gift, bequest, devise, or
descent? (4) interest on the obligations of the Federal
Government or its possessions and interest on the obligations
of the State of Missouri and the local governments in the
state; (5) the compensation of public officers for public ser-
vice where the taxation thereof would be repugnant to the
constitution; and (6) income derived from any public utility
performing functions of the national government or the
state or its political subdivisions, or from the exercise of any
essential governmental function accruing to any state,
territory, or the District of Columbia. Some of the foregoing
are not income under the definition as given in the statutes.®
They are included in the list of exemptions primarily for the
purpose of clarification.
The personal exemptions are of the kind usually granted
ander a state income tax. A single person is granted an ex-
emption of $1,000; a married person or head of family,
1 Session Laws, 1927, p. 479.
* The income from such property is taxed. 8 Session Laws, 1929, p. 429.
