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Show THE SALT LAKE TIMES FRIDAY, JANUARY 27, 1961 Page Three Dividends Received Must Be Reported On Tax Returns Dividends received by tax-payers during 1960 must be re-ported on federal income tax returns, Roland V. Wise, Di-rector of Internal Revenue for the Salt Lake City District said. He explained: "If you own stock in a corporation, the pay-ments you receive out of the company's earnings and profits are called dividends and must be reported in your tax return. 'Usually, dividends are paid in cash, but if paid in merchan-dise or other property, they are taxable at their fair market value. "You must report those divi-dends credited to your account as well as those which you ac-tually receive. "You must also report divi-dends on your stock which is held in the name of your broker. "Your distributable share of diivdends from partnerships, es-tates and trust must also be re-ported." Taxpayers who have any ques-tions on this subject may get Document No. 5060, "Investment Income," in Room 366, Federal Building. "If you have any other ques-tions about your federal income tax return telephone EM 52. U of U Professor Named Consultant A University of Utah profes-sor, Dr. Keith M. Engar, has been appointed as a regional con-sultant for a national survey of the needs of education for tele-vision spectrum space to be con-ducted by the National Associa-tion of Educational Broadcast-- , ers. ' i)r. Engar will be assigned the task of visting major educational institutions in seven intermoun-tai- n states to inventory antici-pated needs in the broadcast spectrum. The states are New Mexico, Arizona, Colorado, Mon-- , tana, Idaho and Wyoming. The data gathered in the U.S. will then be studied by the NAEB and a proposal will then be submitted to FCC to reserve the channels needed. The engi-neering firm of Jansky. and Bailey have been retained by the NAEB to prepare final data. F? SlO, I i' Kennecott is creating a shortcut to y'ky "tir -- SSkJ6 ' II tomorrow at the bottom of its gigan- - tfh. ff tic Bingham Canyon Mine. It is a jS--" TT ' multi-millio-n dollar project, separate 'f'i "fBSW frm normal mininS operations. A 'IBPB V-'- S f j Si I::3f the lower Ievels of the mine with the c f$ opening of a 312-mi- le long tunnel that Hcs Jbenth the floor of the The j)it. wouIdbe the vear fr the bottom of llB achieve something as vital as a reduc- - " pleted within a few months. vfSs--' The spiral ramp, big as it is, is just ' Hl?! fc!SS one of many projects under way at 1. Kennecott to improve operations and vdF . reduce costs. Each one is part of a program Kennecott must carry out SBKlCsD 13217(3 QD IT TT zZTUy in a highly j i Together they demonstrate a basic , UtLwJC LiilQjWl principle. Only by the annual reinvest- - i ment of millions of dollars earned from the sale of copper can Kennecott retain its position as a successful busi-ness and an important factor in the economy of a growing Utah. fnbsmsvtiU Cbpjtas hpa5W&os8 0 PROUD TO BE PART OF A GROWING UTAH 1 ' i I |