Show I I U HERITAGE TAX AMENDMENTS IN SENATE SENATE PUZZLE UZZLE I Sliding Schedule on Estates Over Causes Warm Wann Debate For or moro than two hours yesterday e afternoon the tho Senate considered rod In committee of at tho whole and In regular session tho graduated scale ecale which may bo be placed as nn an amendment In o bill bUl No o. 3 by Senator Geor George e II IT Dorn Dern amending the tho Inheritance law Senators Bona Sena tors torM heard an explanation of ot tho the provisions provisions provisions pro pro- visions of at tho the bill given by State At At- torney torne General Dan B B. B Shields which had tho the effect of at changing tho the minds of ot some Borne of at the lawmakers on- on the amount I to be exempted which was finally finally left lett nt at the proposed proponed amendment of at Senator Jones Junes making kIng It 2 being defeated As an upshot of at tho the long lone discussion after numerous offerings of at amendments amendments amend amend- I ments to the graduating graduating- scale cale limits lIml had been presented further consideration tion Uon of the measure was set over o Until this afternoon Transfer r Provision loD Explained Attorney General Shields made ex explanation explanation explanation ex- ex concerning the feature of or the bill bUl which will make It Il possible to collect Inheritance t taxes on an any property transferred by y tho the owner five cars pr or tr tn to his hIM death an n 1 d h u ua u of or his estate Senator Bevan had In Introduced introduced In- In an amendment to cut down the tho retroactive provision to two years year A After tel the explanation of ot the attorney general tho the Bevan amendment was wan lost b by a tie vote of at 7 to 7 i Mr Shields told the tho senators in committee of ot tIe the whole that th the lifting of the exemption amount from tram to would deprive the state of at approximately tel income annual annually thus adding that much burden to general taxation It was also explained that widows were protected In their Inheritance because their third one-third dower right would bo be deducted from the tho total value alue of at the estate and all expenses paid before the valuation valuation valuation tion could could could-be bo be ascertained Much of at the Inheritance tax Income It was stated came camo from tram estates outside of ot Utah be because e- e cause of holdings of ta taxable able stocks In amounts which would not be reached wore tho the exemption limit placed above Two TITO Amendments Amendment nt LostIn LoNtIn Lout Lost In the graduating scale discussion there was an apparent effort cHort to bring tho the maximums down from tram tho the Olson and Sanford amendments Senator Olson intended tho the scale of at taxation to reach as much as forty per cent on estates estates whoso whose valuation rose to moro more than in market worth Senator Sanfords Sanford's proposed amendment amendment amendment amend amend- ment brought tho the maximum down to fifteens fifteen per cent on estates of or similar valuation But the Senate concluded d that both were too high members expressing expressing expressing ex ex- pressing tho the fear that adoption of such mch a n. scale in the law would trl frighten investors who desired to put their mone money Into Utah enterprises Tho The Sanford Sanford Sanford San- San ford amendment which wa was an amendment amendment amendment amend amend- ment to the tho Olson amendment was lost b by y a n. vote voto of at 8 to 6 6 carrying with It t to defeat tho the amendment b by Senator Olson Compromise Amendment Senator came in with a compromise amendment to the graduated graduated bradu- bradu scale which made mado the Inheritance ta tax from three per cent on an estate valued at to running up to eight per cent on and loss less than and after atter that ten per cent He Ho said that the tax he proposed would amount to approximately on an estate In excess of at Then Senator Chez suggested an amendment which graduated the tho tax from three per er cent up to fourteen per percent percent percent cent on an estate over In valuation By this time it became apparent that the Senate was not as yet et prepared lo to tako take action on the graduated scale Inthe in inthe inthe the midst of the maze of proposals to amend so it was determined to set net over further consideration of ot the whole measure until today an and tho the Senate adjourned |