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Show UNIVERSITY OF UTAH Serials Order Dept. LIBRARIES University of Utah SLC,Utah 84112 SEP3 01974 DEPT. SERIALS ORDER XL:.--- . , ;.;:X;-a.;:::7s..:.,,:;:.,V.- :.,..jv:,-..f-.- . , Lack of Notary Records Added to Nixon Tax Dispute item of evidence might Association, a professional educational have altered the recent .congressional organization for Notaries Public, has former President continually stressed the importance decision to back-taRichard M. Nixon for his 1969 income of effective notarial recordkeeping. tax returns a Notary's record book. The NNA has recently introduced' a new record book designed to aid the Disputed in those returns was a in keeping the kind of records $576,000 deduction for the former Notary will demonstrate his diligence in that President's donation of his his Notary functions. Enpapers to the National executing Journal of Notarial Acts, Archives. It was charged that the titled the book provides a modern, systedeed was improperly notarized and this matic approach to keeping records. may have been prepared after a fedSignatures of these individuals, eral deadline date barring such deducthough not required by statute, are tions. to provide proof of the recommended If the Notary involved, Los Angeles parties' appearance before the Notary attorney Frank DeMarco Jr., had been as well as furnish handwriting eviable to produce a notarial record of in cases of suspected forgery. dence his acknowledgment of the deed for DeMarco used the Journal, he Had the donation, he might have had evibe able to substantiate the now might dence to substantiate his claims that in his presidential facts disputed , the deduction was proper, thus chang-of the date of the Entries notarization. ing the congressional verdict. of the docudate the and But DeMarco's lack of records is notarization be altered or backdated not could ment merely symptomatic of the widein the journal because' they would spread notarial indifference to the contradict the chronological listing importance of recordkeeping. Properly in the Journal, kept, the Notary's records can and sequence provided attempts. tampering have provided crucial evidence of a indicating Additionally, the signature of Notary's diligence when the facts surwho signed the L. Edward rounding a transaction were disputed. deed for theMorgan, former President, would For this reason the National Notary have been entered in DeMarco's Journal. This would indicate whether the deed was signed in Los Angeles as DeMarco asserted or in Washington, D.C, as charged. The notarization entry date could indicate whether it was possible for Morgan to be in California on that day. Further, a qualified document examiner could compare the age of the other Journal entries of this act with the age of the CHICAGO The Judicial Administration Division of the American signature to prove whether they were Bar Association has announced the entered on the same date. The message of the former Presinames of its new officers, the chairmen of the division's five judicial dent's Notary is clear. Notaries must conferences, and two new members cultivate better recordkeeping habits. The new Journal of Notarial Acts may of the division's governing council. be the first step in such a program of The new J AD officers are: Chairman John T. Reardon, improvement. Chief Judge, Eighth Judicial Circuit of Illinois, Quincy. He was chairman-elec- t x ABA Judicial Division Elects New Officers - 1973-7- 4. Judge Griffin B. Bell, of Atlanta, U.S. Court of Appeals, 5th Circuit. Edward B. Secretary director of the National Center for State Courts, Williamsburg, Chairman-elec- t Supreme Court Decisions tax ties the Utah law directly to the HIGHLIGHTS Revenue from income tax during Dis- See details page 10 was between $10 to $12 million below expectations because of changes made in the tax law by the 1973 Legislature. All of this deficiency is attributed to miscalculations in advance predictions of the effect that the 1973 changes would have on income tax revenues. The present shortage in state income tax collections again demonstrates the need for better statistical data pertaining to Utah taxes. At the present time, information on Utah's state income tax returns is not tabulated in order to permit ready computer analysis. Many other states have modernized their procedures to take better advantage of electronic data capabilities. An analysis of 1971 Federal income tax returns filed by Utah residents reveals the following: 1. Both the Utah and Federal income tax rates are highly progres- Affairs, Federal Judicial Center, - lf upper-incom- Mass. Conference of Administrative Law Judges Sidney Ullman, administrative law judge, Securities and Exchange Commission, Washington, D.C. Manpower Sponsors To Receive Over $30 Million From The Labor Department Employment and Training Act (CETA). These prime sponsors have been tentatively allocated $30,897,173 of the anticipated Title III appropriation for Indian programs of $42,208,000. The funds are to be used to operate a variety of manpower programs and activities. The Labor Department's Region for Colorado, Montana, North VII Dakots, South Dakota, Utah, and will receive nearly $5 Wyoming million for 24 Indian program prime sponsors. Funding to these prime sponsors will be made upon Congressional approval of the CETA fiscal year 1975 appropriation now pending. The Labor Department is advising the sponsors of their estimated allocations so that planning for program operation can begin. Designation of additional Indian manpower program prime sponsors under CETA's Title III is expected in the next two months. the high-incom- Utah ranked 15th among the states the overall impact of its state indi- vidual income tax. In the 1972-7fiscal year, revenue from Utah's income tax was equal to 2.11 of total personal income, compared with 1.67 for the nation as a whole. The income tax generally is regarded as an "elastic" tax in that its revenue usually will rise or fall faster than the income' base. In the 1966 to 1973 period revenue from Utah's income tax rose 1.7 times as fast as the state's personal income. in 3 ANALYSIS OF INCOME TAX SHORTAGE minor changes in the Utah law. Instead, it now appears that the revenue loss to the State during the 1974 fiscal year has been in excess of $10,000,000. A similar reduction in revenue also is in prospect for fiscal 1975. Collections from the state income withholding tax continued very strong throughout 1973. As a result, the Legislative Analyst's estimate of income tax revenue for fiscal 1974 was raised to $100,300,000 at the time of the 1974 Budget Session. This compares with a Governor's budget estimate of $101,828,700 in January, 1974. When individuals began filing their state returns in April, 1974, it soon became apparent that these estimates were going to be far too high. Refunds to individuals were greater than antici- pated and added payments with the returns were much less than expected. For example, refunds in fiscal 1974 amounted to $12.6 million (exclusive of the special one-tim- e tax sales credit), compared with $6.5 million in the 1973 fiscal year. Added tax payments with returns, on the other hand, declined from $27 million in fiscal to $22 million in fiscal 1974. fiscal At the close of the 1973-7Utah the determined was that it year individual income tax had produced 1973 Approximately 95 4. Lower income groups were particularly benefitted when Utah adopted the Federal provisions for defining income, deductions, exemptions, etc. in 1973, mainly because of larger exemptions for low income persons. 5. State income taxes average of one percent of only about one-hafor income persons earning less gross than $5,000 per year. 6. The extremely high Federal tax e brackrates applying to ets tend to reduce the percentage of gross income going for state income taxes in Utah at these very high in- in gories. of the persons filing returns in Utah for 1971 had gross incomes of less than $20,000. The 5 with incomes of $20,000 or. more, however, had about 19 of the gross income and paid 31 of the state income tax and 33 of the Federal tax. 3. families low-incom- State income taxes in Utah are equal to about 19 of Federal taxes. 100 Indian Secretary of Labor Peter J. Brennan announced today that 100 Indian tribes and other Native American organizations have been designated as prime sponsors under Title III, Section 302, of the Comprehensive for middle-incom- e brackets and moderate for families in e e catethe and sive. 2. al Washington, D.C. She is also the immediate past chairman of JAD. New chairmen of the five judicial conferences are: Appellate Judges' Conference Justice William A. Grimes, New Hampshire Supreme Court, Dover. - National Conference of Federal Trial Judges Judge George N. Beamer, U.S. District Court, South Bend, Ind. National Conference of State Trial Judges Judge James J. Richards, Superior Court of Lake County, Hammond, Ind. National Conference of Special Court Judges Judge Francis J. Larkin, Third District Court, Milford, Federal law. Future changes in the Utah law, therefore, will depend largely on actions that may be taken by the U.S. Congress. A comparison of the Utah tax with other states shows that the state individual income tax in Utah is high Utah's individual the 1974 fiscal year brackets. Payments by persons in the $7,000 to $25,000 income group account for 73 of all state income tax collections in Utah. 8. Federal and state income taxes in Utah result in a marked redistribution of wealth. The 1973 changes in Utah's income U.S. trict Court, Foley Square, New York Inter-Judici- ff.:- Analysis Of Utah's State Income rax middle-incom- e Va. City. (Both McConnell and Schreiber were to third terms. ) Division Delegate to ABA House of Delegates Alice L. O'Donnell, Director, Division of ;; MONDAY, SEPTEMBER 30, 1974 come levels. 7. Most of the state income tax in Utah is paid by individuals in the Mc-Conne- ll, Magistrate Sol Schreiber, U.S. , Utah Foundation A single Assistant Secretary , SALT LAKE CITY, UTAH VOLUME 1. NUMBER 25 for , v,. ' In April, 1974, the Legislative Analyst estimated that the state individual income tax in Utah would produce $97,395,000 in revenue during the 1973-7- 4 fiscal year. This estimate took into consideration the $1,400,000 expected loss resulting from revising the state income tax laws by the 1973 Legislature along with several other ABA Board Adopts Policy On Pardons CHICAGO - The Board of nors of the American Bar Association Gover- has adopted the following policy position on the use of executive pardon for persons connected with the Watergate affair: "The Board of Governors of the American Bar Association is concerned with the public reaction resulting from the pardon granted to former President Nixon and from, reports indicating that consideration may be given to additional pardons. "The Board of Governors recognizes that the constitutional power of the President to grant pardons is a part of the 'procedures for the administration of justice and further recognizes that the pardon of former President Nixon could involve considerations not present in other cases. However, the Board believes that one of the lessons of Watergate is the need, in general, for adherence to regular judicial processes. "The American Bar Association is committed to the fair, just and impartial application and enforcement of the law. In order to avoid the possible erosion of public respect for law, the Board of Governors of the American Bar Association recommends that, in the absence of extraordinary circumstances involving public interests of great magnitude, the pardon power should not be exercised with respect to any individual until appropriate judicial processes have been followed." 4 only $90,032,358. Thus, the actual collections were $10.3 million or 10.2 below the Legislative Analyst's estimate and $11.8 million or 11.6 below the Governor's budget estimate made only a few months before. It should be emphasized that the revenue shortage was not due to any slowdown in the Utah economy. State income withholding tax collections (which are based on a percentage of the Federal withholding) rose by 17 fiscal year. This during the 1973-7- 4 was slightly greater than the increase expected in both the Legislative Analyst and the Governor's Budget estimates. Thus, all of the revenue deficiency can be attributed to the miscalculation in the effect that the 1973 legislative changes would have on income tax revenues. In This Issue Legals Statement of Ownership Probate Court New Partnerships Suits Births Bankruptcies Divorces Building Permits . Water Service Business Telephones New Corporations Murray City Power Murray City Court Third District Court Supreme Court Decision Uniform Commercial Code Filings Attorney General Opinion Trust Deeds 2 2 3 3 3 4 5. 5 6 t.. 6 6 7 8 8 .9 10 Warranty Deeds Quit Claim Deeds Liens U.S. Court of Appeals Mortgages Tax Liens Business Licenses 12 17 18 18 19 . 19 19 .... . . 20 20 20 |
