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Show ; 1 Companies May Get Refunds From Taxes After The War Taking the example of an imaginary imag-inary railroad, the Bureau of Statistics Sta-tistics of the Interstate Comerce Commission points out that, under und-er certain conditions the railroad corporation would be entitled to a refund of $15,595,000 on taxes paid. Without going into details, it may be said the 126 class carriers car-riers in 1943 paid $1,255,000,000 iri federal income and profits tax. This figure reveals an enormous "cushion" for future years, with the roads having a chance to secure se-cure something like $250,000,000 in refunds if they runinto difficult diffi-cult financial problems after the war. There are other possible adjustments ad-justments that might exceed the amount of the tax refund. The present tax laws provide a considerable "cushion" for other industries, as well as the railroads. rail-roads. The corporations might develop de-velop an actual deficit in the years immediately following the war but repayments from the federal treasury are likely to prevent pre-vent losses and make possible a fair profit. We call attention to this fact because it is a special favor extended ex-tended to business and the public might keep it in mind when other issues are discussed. |