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Show producers in Utah because of the doubling of the oil and gas severance tax by the 1984 legislature. An increase in the corporate income tax from 4 percent to 5 percent will raise the business tax burden by an added $11 Business pays 42 percent of Utah taxes, foundation says Of the $1.7 billion in state and local taxes paid in Utah last year, $713 million or 42 percent was borne by business and industry. This was the conclusion of a study on business taxation in Utah just completed by the Utah Foundation. The study shows the business lux total included $245 million in taxes paid almost exclusively by business (such as corporate income tax, unemployment tax, etc.), plus $468 million as the business share of general taxes, (such as the property tax, sales tax, etc.) that are paid both by individuals and business firms. NEPHI CHRISTIAN FEILOWSHIP "A Full Cospel Church " Services conducted by Rev. John Harris of the Assemblies of Cod. Worship Service and Childrens Church: Sundays at 2:30 p.m. Services held each Sunday at the Juab Community Center, luab County Center. Please enter at the rear, at the Northeast side of the building. Use the Times-New- s classifieds to sell your unused items Bible Study held every Tuesday evening at 7 p.m. For location and more informa7 tion, please call math a problem for your child? - are used to finance the unemployment benefit program, substantially were in- last year. Total unemployement taxes collected from Utah employers climbed from $68.8 million in 1982 to an estimated $109 million in 1983, $127 million in 1984, and $186 million in 1985. An additional $18 million a year will be paid by oil and gas The Times-New- s Nephi, Utah May 17, 1984 your child just completing second or third grade? Is Would you like your child to receive some math help this summer? are important to business Even more important than atthe tracting new business to foundastate, according to the tion report, is to retain and encourage expansion and growth of existing business in the state. One action taken by the 1984 budget session in this regard was designed to encourage the modernization and expansion of Utahs distressed mining industry to make it more competitive in world markets. The 1984 legislature, however, failed to enact other legislation which would have delayed property tax assessments on improvements and personal property . under - construction and not yet year or so. Among the major tax increases affecting business are the following. Proposition I, which reduced residential assessments but raised business and other property assessments, boosted business property taxes by $15 million last year. Unemployment taxes, which creased 623-10- 9 Is According to the foundation million. The business share of the analysis, business paid 46 percent of all property taxes charg- sales tax increases enacted last ed last year and at least 38 per- year and made permanent this cent of the sales and use tax col- year totals $32.5 million. lected. A speedup in sales tax colIn an effort to minimize tax lections enacted this year will increases to the general public, require business to remit about the report claims recent legisla$40 million in sales tax about a tive sessions have shifted a month and a half earlier than in larger portion of the tax burden the past. to business and industry. State In addition to these increases and local taxes on business in in state and local taxes, foundaUtah have been or will be tion analysts note federal social boosted by more than $200 million annually as a result of legislative changes which have taken place during the past security tax rates paid by business were raised from 6.7 percent in 1983 to 7 percent in 1984. It is estimated this increase will add about $35 million to the Utah business tax load this year. The study indicates that it is difficult to assess what effect these latest business tax increases will have on Utahs efforts to promote new industrial growth in the state, but points out that Utah has been slipping in national ratings as an attractive place to do business. One rating service dropped Utah from fourth place in 1979 to 20th place in 1982, while other reports show that Utahs rating declined from 21st in 1982 to 37th in 1983 in the factors that i--s. N"N . S s H vY V Mi contact V Sonya Gibson J ? 623-039- 0 For all your printing needs call The Times-New- s 623-052- 5 A good word for our 450b people... : o r a .A . PRODUCTIVE. Mobile Veterinary Clinic Dr. Arvin Don Hullinger Will Be In Nephi At 1st South ana Main Tuesday, May, 22nd 9 a.m. to 12 noon. All small animal veterinary services available including immunization, spays and neutering , examination and surgery. It takes specialists to keep your power coming down the line. Utah Power has 4500 of them. They work the range of jobs from g outcontrolling power plants to maintaining power lines in our posts. Those who run and maintain our power plants national recognition for keeping those generators spinning with high reliability. Our Huntington Plant is a good example. During a recent overhaul of one of its units, our crews lined the coal mills with ceramic tile thats tougher than steel. The tile can take the beating of fierce storms of coal dust as the mills pulverize thousands of tons of coal each day. Coal mill failure is no longer a leading cause of lost output. This drive toward productivity is shared throughout the company. We can supply our 478,000 customers up to 3.2 million kilowatts of power at a moments notice. We couldnt live up to that demand without outstanding productivity from our workforce. They merit a good word. far-flun- have-earne- ever-increasih- 3GC3J g Li $ LIGHT COMPANY Not published at customer expense. |