The Courier News from Blytheville, Arkansas on May 25, 1950 · Page 5
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The Courier News from Blytheville, Arkansas · Page 5

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Location:
Blytheville, Arkansas
Issue Date:
Thursday, May 25, 1950
Page:
Page 5
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THtmSDAY, MAT 26, 1950 House Group Gets Co-Ops Tax Plan Proposed System Would Yield U.S. $600 Million Yearly WASHINGTON. May 25. W>_A political hot potato—taxntjon of 1'rnier and consumer co-ops— riroiincd Into the House. Ways and MCJHS Committee today. Chairman Dousliton (D-NC) called for a vole oti (he issue. R"|). Mason (R-II1) proposed a 'IPX syslrm for co-ops thai he said viuld yi"id the government about W).000,000 a year. The committee turned to the ro- op lax problem after it voted yes- lerday to give income tax rtodwrs one last chance, to settle up voluntarily with Uncle Sam. before the Justice Department cracks down with criminal prosecutions. Evaders Can Avoid Fine Under present government regulations, lux evaders—under certain circumstances—can avoid fines and imprisonment by confessing their •tax sins and paying up. 'Bui the committee decided to '•rite Ihe "amnesty" provision Into law. so that the evaders woiid have legal protection against, prosecution rhen they voluntarily disclose that they have not reported their full tax .obligation. Rep. Forand (D-RI) predicted this would bring in millions of elusive lax dollars. Co-ops Have Place AF for co-ops. Mason saia "thej have » place In the national economy, and this taxation would not destroy them." He said his Idea is to put them nearer a fair compel! live relationship with qthcr busi nesses that pay taxes. Mason suggested: 1. That co-ops pay Ihe regular corporation Income tax rate on that part of their net earnings not distributed a* dividends to their patrons. He said farmer co-ops arc not fff w required to pay the corporate ^fcx orj such undistributed reserves but the (ax "is supposed to he paid by consumer co-ops." I. Put Ihe patronage dividends, paid to co-op customers, under the sam« 10 per cent dividend withholding tax that (he Ways and Means Committee has proposed for corporation dividends. The with holding proposal does not increase 'ax obligations but is designed to shew the treasury who gets the dividend payments and whether th«y are reported in income tax re turns. Co-op dividends would be taxed »s any other dividends, under Mason's proposal. He estimated that co-ops now are doinf an annual business of about JIS.000,000.000, with earnings over 13.000,000,000. Co-operatives are organized by formers or consumers with a view to saving money on selling or purchasing operations. The money they make usually Is distributed in dlvi- dends to:their customers or arc.llsed .*rfnr expansion of the'co-ops-opcra BLYTHEVTLLE (ARK.) COUKTEK SCHOOL t>AV8—Tomorrow is li big claj for those Irom six to -.—._,, 10 In the Blylheville School System, lor a marks the Culmination ot about two weeks of continuous activities having In do with the close of school. The tenter pictures shows lour ol I\K 126 seniors leaving school for the last time. They am ilrtl to risht) ijcrnn Fondren: Bonnie Gentry, Tominic Robertson, and Paul McDr.niel.1 Upper left and right are pictures of the sixth grade promotion picnic:, at. which about 27.i sixth trade students sniri goodbye to elementary work. At lower left. Fieria Smith Is shown giving the eighth grade girls an idea nf what to expect from senior high, 'mere were 157 Junior High graduates. Freda's lesson was a purl ot the style'show and patty given for Die ciBhth-grade girls. In the lower right corner. Johnny Bryant Kill, son ol Mrs. Annabel Fill, is getting ready lor his school carcei which anils next year. He was one of the 125 examined at pic-school rlinic.s during the past two weeks. Mis. E. o Ambrose, clinic mirse. Is iiivlng him a vaccination, while little Emily Bunch, daughter ol Mr. and Mrs. Clyde Bunch, waits her turn, ?v*??1L 591 -*?5i«T53?5 \ r r A o 2 t N- foooc —_§,- Jufl-wr,^ fgj-grraTTrr ^ 95 BIG 9 CU. FT. SUPREME! FREEZER HOLDS SO LBS.! Extra capacity, extra features! 3 single ice cube Irciys, 1 .double . . . with Jiffy Releases. Jiffy Cube Releases make ice pop out instantly. Twin food fresheners holcf 19 qts. fruits and vegetables. Drop shelf, glide-away half shelf and telescoping shelf for different arrangements. Froster Iray for meats. • Supremo model with 7 cu. ft. capacity only 234.95 Seolocl-in-oil unil hos M-W 5 year warranty. ,,,,^^ «i-tj.'i'* Jt * "^T SAVE 3 WAYS WITH THIS 12.5 CU. FT. FREEZER 304 95 *z»_ WASH 9 LBS. CLOTHES CLEANER, FASTER WITH LESS WORK! 9F ' -,.. -"•/} yri: <& V \ o! ts Holds 1 8'/i gallons lo load linel Does your bin family wash last. 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