Taxation of Corporations: Report on Systems Employed in Various States; Prepared Under the Direction of the Industrial Commission (Classic Reprint)

Excerpt from Taxation of Corporations: Report on Systems Employed in Various States; Prepared Under the Direction of the Industrial Commission

I have the honor to submit herewith a report or compendium of the systems of taxation with especial reference to corporations in each of the following States, viz: Massachusetts, Connecticut, New York, New Jersey, Pennsylvania, Ohio, Indiana, Michigan, Illinois, Wisconsin, Iowa, and Texas. These States were selected, as directed by the Commission, because of their industrial prominence and the varied character of the systems of corporate taxation therein.

It was found that one feature common to all these States, and running through all systems, namely, the general property tax, or as it has been designated, the American system, applies not only to individual properties, but also, directly or indirectly, to a greater or less extent, to corporate property as well. This observation is doubtless true of all States in the Union.

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