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Biennial Report - Wisconsin Tax Commission Volume 5: (English)

Biennial Report - Wisconsin Tax Commission Volume 5: (English)

          
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About the Book

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1911 Excerpt: ...in which he resides without regard to the place of residence of the persons for whose benefit the trustee holds it. This does not produce important inequalities between different taxing juridictiorrs as applied to cases of relatively small estates, for they are sufficiently numerous in the course of years to offset one another so as to produce an approximate equilibrium. But the large accumulations of life insurance assets, consisting mainly of forms of property which can hardly have a situs except at the domicile of the company, present a case which is exceptional, one calling for different treatment. The tax on or on account of such assets falls ultimately upoir the policyholders. Simple justice seems to demand that each taxing jurisdiction, at least each state jurisdiction, should have such proportion of the total tax revenue as is borne, theoreticaly at least, by policyholders resident therein, and no more. Each state can secure and in most instances does secure that much from every foreign company doing business within its borders, and no satisfactory reason exists, it is believed, why any state should exact more from its home companies. Few, if any, of the several American states will relinquish the right to tax foreign companies and such taxes when imposed will be somewhat in proportion to the assets of such companies equitably belonging to policyholders resident in the state which makes the exaction. If each state also taxes to the full all the assets of its home companies there will clearly be double taxation in one of its "abominable" forms. On this point, in an address delivered in 1908 before the annual meeting of life insurance presidents, Prof. Zartman said in part: The state in which a company is located does not have the moral righ...


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Product Details
  • ISBN-13: 9781130214277
  • Publisher: Rarebooksclub.com
  • Publisher Imprint: Rarebooksclub.com
  • Height: 246 mm
  • No of Pages: 44
  • Series Title: English
  • Weight: 95 gr
  • ISBN-10: 1130214273
  • Publisher Date: 01 Mar 2012
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Spine Width: 2 mm
  • Width: 189 mm

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Biennial Report - Wisconsin Tax Commission Volume 5: (English)
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