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Salt Lake Telegram | 1929-08-23 | Page 28 | State Tax Revision Boards Hear Banks Explain Injunction Move

Type issue
Date 1929-08-23
Paper Salt Lake Telegram
Language eng
City Salt Lake City
County Salt Lake
Rights No Copyright - United States (NoC-US)
Publisher Digitized by J. Willard Marriott Library, University of Utah
ARK ark:/87278/s61g1v7h
Reference URL https://newspapers.lib.utah.edu/ark:/87278/s61g1v7h

Page Metadata

Article Title State Tax Revision Boards Hear Banks Explain Injunction Move
Type article
Date 1929-08-23
Paper Salt Lake Telegram
Language eng
City Salt Lake City
County Salt Lake
Page 28
OCR Text State Tax Tax-Re r S sion Boards O Hear ar r. r Banks s E Explain J Injunction Move Action Meie Merely e re to compel C C Compliance om franc e With U. U S La Laws Laws- ws Not of t to Js Escape pe Taxa Taxation io t tornY t il e y Marrs Says The bank b ta lav tali an n n c the tho attention of tax ot t revision bodies during the da afternoon n session 4 G. G G. G A A. Marr one JQ of ot the tb representing the ol banks n dry in their i re c c Instituted court actions to secure se SQ- cure cure ure It injunctions l ns against g f st collection o o of this years year's s cai-'s 1 levies I s 's appeared as spokesman and hd presented u t n as to haw ham the situation 1 might i bo be temporarily alleviated 4 and e eventually even J I cleared up E EXPLAINS pLANS pLANS' MOVE The banks h arc are not nol taking their case casc In tho federal c courts wIth tile 1 Idea cn or of C escaping es a ln just taxation but merely to compel c compliance with the thc federal statute and the provIsion of te constitution constitution constitution con con- resulting that b banks be equitably taxed faxed In im relation to com competing com com- Capital The eventual solution of oC tho problem lem Jem he contended contend lies les In the adoption tion of t a tax syr sy tem em which will place b banks on the same footing with re respect re re-i to taxation that their com competitors coni- coni enjoy regardless of or whether erthe er- er r the tax I Is collected on net In intone income o-me o or pro property pert valuation n. n SUGGESTS REMEDY As 5 a temp temporary ralY r remedy med he recommended tee rec passage passage- of oL e. e the Marsden bill introduced h at the I lest laVt st s session s lon or of the th state legislature h ch grant ra-nt ra the banks exemption on on some of ot the tho Items which are aren n now exempt When wilen held b by bu arid acid Joan loan a as as- as so and sl financial in tn- tn If If- this Is done he declared the banks would disregard ard remaining dl discriminations and pay taxes on that Hint basis bash ur until a permanent u- u tion Is worked v. v out and passed bythe bythe by bythe the legislature i As As a. a i specific Bp or of th the handicaps hat han now r borne by th the banks Mr Marr blarr told the commission slon that one building and loan loam association In Salt L. L Lake ke county had lied last year ar paid a n aLa tUX La or of approximately approximately- I 1180 against about by a bank of ot corresponding corresponding corre corre- size BIGELOW EXPLAINS INS A. A P. P BI Bigelow v president of ot the Utah Taxpayers Taxpayers' tax acrs association reappeared reappeared reappeared reap reap- before the tho joint session cession to explain a a previous statement statement re regarding rc- rc garding the Intention of ot certain cor cor- cor and individuals to move mo out of or the tho state stat if Jt the tho revised tax reas d th their fr burdens The stat statement was accepted as a s threat b by Ch Chairman George JI II Ryan Ran of or the legislative adv advisory committee who promptly denounced such ah an an nit attl- tilde tude and expressed the tha opinion that the loss 1035 of ot tho the disgruntled ones would boo bo a again for fOI forthe the tho state Mr Ir Bigelow declared that his re remarks remarks re- re marks were not intended as as' as a threat Chairman Ryan Ran replied that tics his lis criticism had been Inspired by Jar assertions comin coming to the committee c from several tIC sources
Reference URL https://newspapers.lib.utah.edu/ark:/87278/s61g1v7h/16101075