Show SPEAKER FLAYS INVENTORY T TAX AX Crippling of Utah tah industry try by an per cent inventory tax ax assessment was flayed Friday by y Stanley J. J executive secret ry of the the Utah Manufacturers Manufacturers' Manufacturers Manufacturers' association m meeting at the Newhouse hot hotel l. l Intention of the the law Jaw to sta standardize stan stan- and clarify inventory taxes and eliminate unfair competition Mr Ir Stephenson told the ma is worthy and But he declared the new law states tates that merchandise be evaluated evaluated evaluated evalu evalu- o on oi a monthly inventory average average aver aver- ag age rather than yearly thus giving lug ing ng the state tax commission arbitrary arbi arbi- power to fix the thc percentage of actual value Mr Stephenson then explained that although the new law is purposed to eliminate unfair competition competition com corn petition sales to clean out stores store before taxes are due the Industry industry industry indus Indus- try of the whole state will be put under tinder a 3 handicap In competition with other industries in other states The 60 per percent cen cent valuation Tie ne e I explained explained- will likely increase the actual taxes nearly but by placing the taxable m merchandise at 40 per cent of its actual value the total coll collected would rem remain in the same and and the order of the law carried carried car car- ried ned out If the law works out he opined industries In Utah Utah will be put on onan onan onan an equal footing previously sly not enjoyed en en- joyed Heretofore he declared county assessors have shown a great deal of partiality in fixing the tax valuation valuation valuation I tion for Industries the result some paid more than others In principle the only ones opposed opposed opposed op op- op- op posed to the new law ire are are those vho have been unfairly taxed under th he the old ld law he told the group group What hat w we want we-want want is a just and arid equitable equitable equit equit- able abl distribution of the state tax I burd without burden jurden without Il-without without the added handicap I of cramped out of state ti ibn tion n. n If the tax burden is so increased Mr Ir Stephenson told tod the group in inv in- in v be held out of state with a resulting decrease in volume vol ume o of business from from- Utah mer mer- S We hope that business businessmen men and the state tax commission can work workout ou out a tax that will be in keeping with with- the intent of the law and at atthe atthe atthe the same time riot ilot severely cripple Utah industry The e meeting atten attended ed by interested interested interested inter inter- ested parties and members of the association was held immediately after a luncheon at It t the Newhouse hotel Others present were to ad lib on the question during the aft aft- I Mr Stephenson presided |