Show work for legislature we trust that the present legisla ture will not adjourn until the ob noxious corporation tax law enacted by the legislature at its last session is repealed the supreme rie court held that the law is constitutional but nevertheless the reporter is of the opinion that the law is not only un constitutional but unjust we are of the opinion that the judge of the su preme court who passed upon the matter failed to secure a fair and impartial understanding of the meas i ure anyone who is famil ar with the the various conditions in the mining districts of utah will unhesitatingly declare that the corporation tax law should be repealed it was edly framed by one of the cow county I 1 members and the most mys cerious thing to understand is how the measure received support enough to carry it through mining companies as a general thing are organized to tw develop mineral ground of uncertain value the articles of incorporation may place the capitalization of a company at but that is no reason why the state should force that company to pay a tax of 50 a i 3 ear because the company A s share holders are no doubt assessing them selves to carry on the development work which may at some future date give the state a producing mine the company s ground while it is 14 in the prospect stages could not be sold it if it were to be placed under the ham mer tor for perhaps one tenth of the amount for which the company ie is capitalized mineral ground is taxable as soon as it is protected by government pat ent the buildings and improvements upon the ground are taxed as soon as the ground becomes productive a tax is placed upon the net proceeds and now the state is demanding an incorporation tax isil t that going just a bit too strong if the companies want to do so they can amend their articles of in corpora tion and reduce the par value of the shares thus cutting down their tax to a point where the new law would result in but very little money being brought into the state treasury this is about what will happen if the legis lature does not step in and wipe the unjust measure off the statute books |