Word: valorem
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What infuriated Arnstein most of all is Burma's 1% ad valorem tax on all merchandise in transit, a levy which would net the British possession's Government $1,000,000 on U.S. shipments to China...
...prices had had little real effect on U. S. trade except to intrigue traders. More than intrigued were U. S. customs officials. Required by law to consider both prices (since both are now quoted by the Federal Reserve), they could not decide which to use in figuring ad valorem duties...
Stonier-faced were they when he finished, for the O'Daniel panacea turned out to be a repeal of the State's present ad valorem tax in favor of a 1.6% tax on "transactions," a transaction being grandly defined as "any dealing of any kind whatsoever between two or more persons." Such a tax, replacing the State's present ad valorem tax, would net $25,000,000 annually, thought the Governor, to help pay for State old age pensions up to $15 a month (another $15 to come from the Federal Government...
...Florida several years ago the Legislature, by constitutional amendment designed to attract new industries to the State, exempted a list of manufacturers from ad valorem taxes, State, county or local, for 15 years after establishment. Included were manufacturers of "steel vessels." Later Florida's Supreme Court ruled that tin can manufacturers were exempt because a tin can is a steel vessel tincoated. Last week County Attorney J. W. Cone of Tampa ruled the Tampa Shipbuilding & Engineering Co. not exempt from taxation because their RFC-financed, 10,000-ton drydock is not exclusively or chiefly used for the manufacture...
...below any domestic bid. Knowing he had a good case, the President took five minutes out in a press conference to explain why the tariff-pampered steel industry had small ground for complaint. Obliged to bid 15% under domestic producers, to pay a tariff duty of roughly 25% ad valorem, to pay insurance and freight on shipments across the ocean, any foreigner who got PWA business would have to be satisfied with only about half of the fat prices demanded by U. S. producers...