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Show MAJOR TAX INFORMATION Have you figured out your state income tax yet? If you find that you owe the state uniform school fund payable, pay-able, of course, through the state tax commission and the state treasury about $30 or a trifle less, you will be shelling out close to the average payment for this state tax. Last year, it appears ap-pears from a statement prepared in the office of the tax commission, commis-sion, some 209,805 persons filed individual income tax returns. Many reported no tax at all due the state. At the other end of the scale, persons with sizable net incomes reported much more than $30 due the state. The total of taxes collected under the individual in-dividual income tax law last year was $5,950,748.10, which makes the average $28.36. This amount was about a third higher than the average for the preceding year, $21.13 per return ' filed. One reason for the difference differ-ence was that World War II veterans vet-erans last year no longer had a special exemption. The number of individual income in-come tax returns filed in 1950 was 198,688; so that there was an increase in returns of 5.6 per cent, in addition to the 34.2 per cent increase in the tax due the state; and the yield from the tax last year was near 41.8 per cent higher than the $4,197,631.51 collected col-lected by the tax commission during 1950. "With full employment, some increase in population, and generally gen-erally higher wages or salaries," said Patrick Healy, Jr., chairman of the tax commission, "we might expect approximately the same total of individual income tax payments during a 952, as in 1951. However, the provision that permits a considerable number num-ber of 'the taxpayers to use the short form, calculated at about one-tenth of the amount they pay the federal government if they use the short form there, will probably reduce the state yield. How much is anybody'n guess. If a taxpayer finds he can save money by using the federal law's provision,, which include, for example ex-ample $600 exemption per dependent, de-pendent, he will naturally do so. If he gets off with a smaller payment pay-ment by working out his state tax as he has in the past, he will use that. Hence the new law will have a tendency to reduce the amount received from persons in the lower income brackets." |