Word: dividend
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WITHHOLDING TAX from interest and dividend payments is being considered by the Treasury because of the failure of its campaign to get taxpayers to voluntarily report their interest and dividend income. One out of three understate their income, says Treasury...
...lowest brackets, chinking loopholes to stanch the loss. Walter Heller, the President's chief economic adviser, would cut the maximum rate to 60%, reduce the lowest rates from 20% to 14%. All three oppose what Heller calls "upsidedown subsidies," such as oil and mining depletion allowances and stock dividend exemptions...
Start in April. Dillon intends to propose some minor revisions in April, perhaps tightening expense-account allowances and chucking the $50 exemption on dividend income. But the Treasury will not be ready with any sweeping proposals for many months. After they are submitted. Mills will hold extensive committee hearings, aiming to create the climate of public opinion needed to stir Congress to action. With luck and massive help from the President, a new tax bill might have a chance in Congress next year...
...directly to Odhams stockholders with an offer to buy them out for $1.20 per share above the market price. With Odhams' The People denouncing King's move as an "act of piracy" (see cut), Odhams Chairman Chancellor announced that his board was prepared to hike the stock dividend rate from 25% to 37½%-if the stockholders would reject Cecil King. The announcement sent Odhams shares soaring in value past King...
...downturn, since it would increase the budget deficit. Dillon hopes to submit at least a partial program for reform by April 1, but feels that long-range tax reforms would be better in a year of surplus. He expects to take a "detailed look" at the 4% exemption on dividend income, expense-account loopholes, depletion allowances...