Ogden Daily Standard | 1915-11-16 | Page 2 | Corporation Taxes Are Being Received

CORPORATION TAXES ARE BEING RECEIVED Salt Lake, Nov. 16. Payment of tho annual state corporation license tax began in the secretary of state's office yesterday. It was the first day on which the tax was due, but the mail brought scores of checks. The tax becomes delinquent December Decem-ber 15, after which a $10 penalty is attackod, and after April 1 of next year all corporattions which have failed to pay will have their charters revolked by proclamation of the governor. gov-ernor. Under the new law passed by the last legislature, the secretary of stat expects to collect nearly "twice as much license tax as heretofore. Tht old la- provided for a graduation of the tax according to capitalization up to $250,000 companies. All companies capitalized for more than $250,000 paid a flat tax of $50. Under the new law the graduation continues up to the $4,000,000 mark, and all companies compan-ies capitalized for more" than $4,000-000 $4,000-000 pay $250 flat rate. Last year the state realized about $75,000 from the corporation tax.