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Salt Lake Telegram | 1941-08-22 | Page 3 | New Departure in Taxes Urged

Type issue
Date 1941-08-22
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/s6184fss
Reference URL https://newspapers.lib.utah.edu/ark:/87278/s6184fss

Page Metadata

Article Title New Departure in Taxes Urged
Type article
Date 1941-08-22
Paper Salt Lake Telegram
Language eng
City Salt Lake City
County Salt Lake
Page 3
OCR Text NEW DEP DEPARTURE ARTURE IN TAXES URGED WASHINGTON Aug 22 fP W- W Declaring that the time ime is ripe to make a bold departure in taxation for defense defense Professor Harley L. L Lutz of Princeton un university university uni uni- i- i urged the senate finance committee Friday to approve a 10 per per cent withholding tax on individual income He said such a levy with no or exemptions would produce annually compared with the estimated for the house-approved house revenue measure Lutz a professor of public finance suggested that the withholding withholding withholding with with- holding tax apply on all income payments to individuals wages individuals wages and salaries interest and dividends dividends dividends divi divi- net rents and royalties and entrepreneurial withdrawals A withholding tax would ap apply apply apply ap- ap ply to income at its source salary salary salary sal sal- ary checks for example It has been discussed previously by finance finance fi finance fi- fi nance committee members and Chairman George D. D Ga has expressed approval He has said however that it would be difficult difficult difficult cult to incorporate the proposal in the pending bill Another committee witness Henry F F. F Long of Boston chairman chairman chairman chair chair- man of the tax coordination committee committee committee com com- of the National Association Association Association tion of Tax Administrators urged that in the state revenue authorities be permitted to consult con consult consult con con- sult with federal tax experts before be before before be- be fore new federal levies are drafted
Reference URL https://newspapers.lib.utah.edu/ark:/87278/s6184fss/16936323