Word: taxing
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Dates: during 1960-1969
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...problem would be the levying of fines by state governments against municipalities and industries that pollute bodies of water. These fines would be, say, 100 or more per gallon per day of waste discharge. This would mean industries paying out tens of thousands of dollars per day and rising tax rates in cities that persist in fouling rivers and lakes...
...number of state legislatures are discussing proposals to ban nonreturnable bottles. In addition, there is talk among Federal officials about a possible "effluent" tax on a variety of consumer containers. In effect, this might resemble the deposit system. The consumer would pay a small tax per can, then get his money back when he returned the can for reuse. It is an ingenious idea, but it will need far more political support before it can come to pass...
...seemed like only a minor clause in the omnibus tax-reform bill passed by the House of Representatives three weeks ago by the lopsided vote of 394 to 30 (TIME, Aug. 15). But it has museum officials from coast to coast up in outraged arms. The clause eliminates the tax-free status of art donated to museums-and thereby strikes at the heart of the way in which U.S. museums have been built. In Europe, the great museums, from the Louvre and the Prado to the Uffizi, house collections that were initially accumulated by kings and princes. Most are still...
...past, a collector who wished to give his Rembrandt to the Metropolitan could claim its current market value as a tax deduction. Unless the new law is amended before its passage by the Senate, the collector will have the dubious alternatives of a) deducting a work's original cost-rather a wrench if he had the wit to buy it 20 years ago -or b) claiming its current value and paying capital gains tax on the difference between that and its initial cost. Neither alternative is apt to encourage the philanthropic spirit. "Countless treasures that come to us under...
...which is owned by Manhattan-based American Metal Climax, Inc., and Anglo American Corp. of South Africa Ltd. In addition to taking over controlling interests in the firms, Zambia will substitute 25-year leases for their existing leases "in perpetuity," and replace the present 44% royalty and export tax with a 51% mineral tax. The nationalized companies' holdings have a book value of about $784 million. Kaunda expects to pay shareholders for their loss entirely out of future copper profits. These are already so heavily taxed that even if dividends are maintained at their present level, the Zambian government...