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Show IAK INNOVATION IS CALIFORNIA'S PLAN I Scheme Is That Corporations Pay Share of Gross Earnings Earn-ings to Stnte. i SAN FRANCISCO. Doc, 8. A gross j earnings tax on public service cornor- ntions, to bo paid lo Ihe State in lieu of the present form of local taxation on these concerns, is ono of the innovations innova-tions tho commission on the reform and , revision of tho revenue laws will propose pro-pose to tho Legislature next mouth. The commission's proposal is to separate sep-arate entirely State from local taxes, i The idea is that with a gross earnings tax on public service corporations the , Stato would not levy a tax on general . property, as it docs now. And while tho several committees ' would lose the revenues thoy now dorivo (' from tho local taxation of these cor J porations, it is estimated that the proposed pro-posed plan would work to them an an-i an-i nual saving iu excess of $4,000,000. The i corporations the commission proposes to withdraw from local taxation aro railroads, including street railways, car i' companies, express companies, heat, : light and power companies, telegraph 'land telephone companies, banks and ju- surancc companies. i Tho banks arc not to be included in i the general gross earnings scheme. They jure to be taxed through their stockhold I crs, the commission proposing a rato of 1 per cont on the amount paid in on I stock subscriptions, plus accumulated surplus, tho banks to he allowed crodit ifor any local taxes paid on real estate. |