Word: taxed
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Dates: during 1940-1949
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...Duffy's Tavern (Thurs. 9:30 p.m., NBC) returned to the air, it was clear that Archie was under the smartest kind of management. Rasp-voiced Ed Gardner, who plays Archie and produces the program, had accomplished the modern miracle of getting out of the reach of the tax collector...
...call of the islands had been crooned by the Puerto Rico Industrial Development Co., a local government agency interested in promoting new business. Under island law, Gardner has to pay neither U.S. income tax nor any Puerto Rican income, property or excise taxes on any of the movies or TV shows he produces. The Puerto Rican exemptions run until 1959 and, as long as he is resident in the islands, he appears to be safe from the U.S. tax collectors. Gardner resents the imputation that he is a tax dodger. "It's just a hell of a good business...
...Hollywood's mind. Moviedom's tax-bitten stars thought they had found a sure-or almost sure-way out of their troubles in the high tax brackets. If they struck oil, they could deduct 50% to 75% of the drilling expenses from their income, and later deduct 27½% of their annual gross from the well, as "depletion." Moreover, they could sell the well later and pay only a long-term capital gains (25%) tax on the profit. If the well was dry, they could write off the whole cost as a loss, thus cut down taxable income...
...office seemed to be climbing steadily out of its long postwar slump. Last week the Bureau of Internal Revenue announced that August was the fourth month this year to run ahead of 1948's corresponding month in admissions tax returns. To make things even brighter, Dr. George Gallup's Audience Research, Inc. reported a steady fall in the average price of admission paid by U.S. moviegoers. With total receipts on the rise, that spelled growing attendance. The average spent for a ticket in August was 45?, compared to a postwar peak of 48.8? early in the year...
...Offense. In Warren, Ohio, John Markovich, who had made a shambles of the Veterans Administration office by scattering files over the floor, overturning desks and breaking up anything he could lay hand to, explained sheepishly as he was being led away: "I thought I was in the income-tax office...