Show IT TAX AX MEASURES TO BE VIEWED I Two bills no now before e the senate enate of the twenty first session of ot the Utah legislature which vitally VitalI affect all Utah money earning citizens and corPorations corporations cor- cor p will be laid before the the pub public lie lic for lor discussion Friday at 7 p. p m. m Tl bills c concern the state income and corporation franchise tax rates rales They were introduced b by Senator Ward f C. C Holbrook D D. Dt Davis as senate senate senate sen sen- ate bills 1 and 2 2 The bills Th Thursday were before the senate revenue and taxation committe committee com corn mitte for lor c consideration ton Members rt of the committee also aso considered two similar bills proposed b by the state tax commission After a conference with Governor Henry H. H Blood the revenue and md taxation taxation tax tax- atlon committee agreed not to introduce introduce introduce intro intro- duce the tax commission bills because be ca cause e they considered them duplications duplications duplica duplica- ions of Senator Holbrooks Holbrook's proposed legislation tion Deny Burden Increase During the committee hearing Thursday Senator Holbrook and proof proponents pro pro- of the bills now before the thes s senate nate held that if it they be become b ome law they would not increase the tax burden burden burden bur bur- den over a long period of time It was ar argued d that althou although h the bills call caIl for increased rates no more revenue would be produced in the thelong thelong thelong long run because the property tax rate would be reduced According to the bills bilk revenue would be distributed to the district school fund which would receive 75 5 per cent and the remaining 2 25 per percent percent cent would be placed in the state general fund One group holds that the bills in effect would double the tax burden on individuals who pay income taxes and on corporations which come corne under under un un- under der the franchise tax See Little Relief Relict They say that the revenue rc diverted under the two laws las would not materially materially mate mate- relieve the property tax bur den The Holbrook corporation franchise fran fran- chise tax bill calls for an increase in the r rate from 3 to 4 per cent and repeals the present property tax offset offset off ot- set provision The bill concerning Income taxes provides for an in increase rea e in m rate repeal repeal re re- re peal of property tax offset under the present law t repeal of the filing fee lee and for a system of credit and deductions deductions deductions de de- de- de to replace the present exemption provision The latter atter some hold would lower the exemption exemption exemption tion limit and place incomes under 1000 liable for assessment The public hearing will be held at atthe the Newhouse hot hotel l. l |