OCR Text |
Show BANK TAXING BILL AGREEMENT NEARS An agreement between the bankers bank-ers and the several states on an amendment to the federal bank tax law to permit the states greater freedom in taxation of national na-tional banks has been practically worked out, according to advices received by the state board of equalization. Edward H. Snow, chairman of the state board, declared that the amendment as worked out strikes at the root of the trouble. It defines de-fines the methods by which the rate of tax to be applied against bank shares may be determined under any selection of five alternate alter-nate methods of taxation proposed. propos-ed. Taxation of bank shares presents pre-sents a problem that is now harassing har-assing about half the states and was one of the insurmountable obstacles ob-stacles which confronted the former for-mer tax revision commission in its studies of the past year. |