OCR Text |
Show UTAH MINES FACE HEAVY BURDENS Seven Different Kinds of Taxes Assessed Against Them, Operation Op-eration Difficult. Seven different kinds of taxes nrc among tho burdens which Utah mines aro struggling with during tho period of reconstruction, according to tho Engineering and Mining Journal of New York, which says; This means not only a largo pecuniary pecun-iary outlny on tho part of tho mining companies endeavoring to adjust themselves to present labor conditions, condi-tions, slowness of delivery, of materials mater-ials and high costs, but also a large amount of clorcinl labor, which is an additional expense. The heaviest taxes aro tho Fcdoral income and excess profits taxes. Tho remaining five forms of taxation including in-cluding the cost of workmen's compensation com-pensation as a tax, aro briefly : Tho stato property tax, based on tho valuation val-uation of ground purchased "from the government and the tax in equipment tho tax on tho net proceeds of tho mines, which is based on thrco times tho net proceeds of mines, the rate of taxation being that of tho county in which the mine in question is Bituatcd. The federal capital stock tax on which tho rato has been Increased to $1 per $100 this year on everything over $5000, the basis of valuation of stock being tho mnrket value, capitalization, capital-ization, or capitalization of earnings; the Federal tax of 10 per cent on tho corporations undistributed earnings, carried from year to year, and lastly the most of workmen's compensation. |