Word: taxed
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Dates: during 1930-1939
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Compromise. The current Revenue Act imposes: 1) surtaxes up to 27% on undistributed profits; 2) taxes up to 79% on all capital gains made from the sale of assets held for less than one year, on 30% of capital gains made from the sale of assets held for ten years. The Revenue Bill passed by the House last March imposed: 1) 16% levies on all corporation profits, a 4% surtax on profits undistributed in dividends; 2) levies on capital gains by taxing all of such gains only when made by the sale of assets held less than 13 months...
Outcome. Last week, as all three candidates rounded out their efforts, political observers were sure at least next week's balloting would break all State records. This is the first year that Florida voters: 1) have not been required to pay a poll tax, and 2) have had voting machines-which should be an intriguing substitute for the popular slot machines its citizens lost last year. Total vote in 1936 was 320,000; next week it will be about...
...simply by the ''Savarona Ship Corporation" of New York, and it was only later discovered that she was the property of Mrs. Emily Roebling Cadwalader, Philadelphia socialite. The ship's incorporation was publicized last year when the U. S. Bureau of Internal Revenue objected to income tax deductions made by Mrs. Cadwalader and Husband Richard M. Cadwalader Jr. in their 1932 returns. It was then revealed that travel-loving Mrs. Cadwalader had sold to her attorney 400 ship shares at $100 apiece. Since the value of a share had been $1,717, Mrs. Cadwalader claimed capital losses...
...because of income tax interest was the U. S. involved in the Savarona's sale last week but rather because, in a transfer of a U. S. ship to foreign registry, the U. S. Maritime Commission must know to what purpose, whether bellicose or not, the ship is to be put. Two bids were made for the ship, one by the Turks, the other by an unnamed German. Although it appeared the German bid might win, the required information about the future use of the ship was not supplied. The Maritime Commission was thus able to presume that...
Only major domestic U. S. airline to make money in 1937 changed hands last week. As planned month and a half ago, Eastern Air Lines, which has no rivals on its runs up & down the Atlantic coast and which made $270,000 last year before tax deductions, was sold by North American Aviation, Inc. to a banking group formed by Eastern's general manager, Captain Edward Vernon Rickenbacker. Elected president of the new company, Eastern Air Lines, Inc., was Eddie Rickenbacker. His backers include Harold S. Vanderbilt and the Wall Street investment firms of Kuhn, Loeb & Co. and Smith...