National Tax Association

RECENT PUBLICATIONSSource: The Bulletin of the National Tax Association, Vol. 2, No. 4 (January, 1917), pp. 118-120Published by: National Tax AssociationStable URL: http://www.jstor.org/stable/41787807 .

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118 BULLETIN OF THE NATIONAL TAX ASSOCIATION

there are often alternative methods open to the accountant are particularly valuable, and if followed will probably avoid in- correct reports and consequent excessive tax in many instances. Mr. Montgomery has the courage of his convictions and voices in no uncertain way his criticism of such rulings of the Treasury Department as do not seem to him to be in accordance with the law, supporting his contentions by copious references to court decisions and accounting practices. This feature of the book is especially valuable in counteract- ing a tendency on the part of many to accept the rulings of the government, whether right or wrong, without question. It provokes discussion and promotes a clearer understanding of the principles that must govern the administration of a suc- cessful income tax.

To the individual, partnership or cor- poration that is called upon to make re- turns, the book is a valuable guide not only to what the government requires, but to what an able and experienced student considers that the law requires.

George tL. Holmes. New York City.

The Taxation of Property and In- come in Massachusetts. By Charles /. Bullock. Cambridge. Harvard Univer- sity. The Quarterly Journal of Econom- ics, November, 1916. 61 p.

In this very valuable article Professor

Bullock gives a thorough- going historical account of the development of the Massa- chusetts tax system from the earliest colo- nial period down to the year 1916.

The significant facts are the early im- portance of the poll tax and its gradual decline, the fairly successful working of the general property tax during the eighteenth century and the first half of the nineteenth, when needs were moderate and rates low, and the gradual and inevitable disintegration of the general property tax since 1850. The most important phase of the decline of the general property tax was the growth in intangible property and the failure properly to assess it, together with constantly increasing tax rates, each one being both cause and effect of the other.

Professor Bullock shows how the real- ization of the failure of the personal prop- erty tax gradually penetrated the wall of blind faith in the traditional tax system. He describes the various attempts made, through tax commissions and otherwise, to find a remedy, finally culminating in the income tax of 1916, which is explained and defended in considerable detail.

Massachusetts has had a long and hon- orable history in taxation as in other fields, and her experience is full of lessons for other states. Other states will also do well to mark carefully her experience with the income tax during the next few yars. We are fortunate in having such a scholarly record of what the state has done.

F. R . F.

recent publications

(Items marked * are from Municipal Reference Library Notes)

Clark, Evans. Municipal ownership in the United States. 1916. 30 p.*

Professor Clark, of Princeton University, at- tempts in this pamphlet to survey the growth and relative distribution of municipal ownership of all classes of public utilities in the United States. He also seeks to give an impartial estimate of the success of municipal ownership where tried. This latter question is treated under the head- ings: the balance sheet; cost to consumer; con- ditions of labor; effect on the community; some conclusions.

Published by The Intercollegiate Socialist Soci- ety, 70 Fifth avenue, New York City. Ten cents a copy.

Connecticut. Report of the tax com- missioner for the biennial period 1915- 1916. Hartford. 1916. 254 p. diagrs.. tables.

Mr. Corbin's biennial report is always an in- teresting document, and the present one is no ex- ception. It is not possible to enumerate all the important topics discussed. The tax commis- sioner has exercised the editorial function and added to his own remarks a great number of valuable papers by other authors. The chapter on new legislation is a long one and will con- vince anyone that Connecticut has not been standing still. The account of the work of the new Board of Finance is noteworthy as showing

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BULLETIN OF THE NATIONAL TAX ASSOCIATION 119

a long step toward a responsible budget com- mittee to organize and direct state appropria- tions.

Among recommendations made, we note the suggestion that the registration of choses in action (taxed by the state) be in the name of the owner and the proceeds distributed in part to the towns ; also that motor vehicles be taxed by the state at a uniform rate of 12 mills on a value based on maker's prices, with allowance for de- preciation, the proceeds of the tax to be returned to the towns.

About half of the report consists of statistical tables. These, as well as the rest of the report, are arranged with unusual care in the reader's interest. The report is well indexed.

Indiana. Report of the commission on taxation to the governor. Indianapolis. 1916. xlv, 408 p. tables. This report of the Indiana special commission,

which was awaited with much interest, has just been received. We are holding it for adequate review in a later number of the Bulletin.

Kansas. Fifth biennial report of the tax commission. Topeka. 1916. 364 p. tables.

This is mainly a record of the work of the commission. Discussion and recommendations are reserved for the later report to the legisla- ture. See below.

Kansas. Fifth report to the legisla- ture by the tax commission . T opeka. 1917. 83 p. tables.

This report contains discussion of the tax sys- tem, statistical data, and recommendations for legislation. It shows clearly the handiwork of our president, Hon. Samuel T. Howe. Consider- able space is devoted to a record of legislation and constitutional amendments in the several states in 1915 and 1916, reprinted from the ad- dresses presented at the conferences of the Na- tional Tax Association. One section contains an interesting summary of the inheritance tax laws of the several states, and recent legislation. Among other things, the commission recommends the substitution of county for local assessors and a constitutional amendment allowing classifica- tion of property.

Milwaukee Citizens* Bureau of Muni- cipal Efficiency. A municipal financial plan. Some suggestions as to devising a financial plan for municipalities. Prepared for the Finance Commission of the City of Milwaukee. (Municipality, Sept.-Oct., 1916. p. 157-160.)*

New York. Tax law of the state of New York; being l. 1909, chap. 62, en- titled "An act in relation to taxation, con- stituting chapter sixty of the consolidated

laws", with all amendments made at the legislative session of 1916. New York.. Baker, Voorhis. 1916. 263 p. $1.50.

Ohio Journal of Commerce. Volume XI, Nos. 13 and 14. Columbus, Ohio. November 1 and December 1, 1916. The last two issues are full of the Smith tax

limit law, city bonds, and rumors of tax reform. Cf. review of article from the Ohio Journal of Commerce of October 2, in the November Bul- letin, page 54.

Philadelphia Bureau of Municipal Research. The bureau in Philadelphia: the first municipal research venture outside New York. November 30, 1916. Citizens' Business , No. 236. 20 p. (Reprinted from Municipal Research , September, 1916.)

This report, prepared for Municipal Research by Mr. Frederick P. Gruenberg, director of the Philadelphia Bureau of Municipal Research, gives an interesting account of the history anď accomplishments of the bureau. Among other things, the bureau has promoted an increased in- terest in a municipal budget.

Seligman, E. R. A. Tax exemption through tax capitalization. Cambridge. American Economic Review. December,, 1916. p. 790-807.

South Dakota. Second biennial re- port of the tax commission, 1915-1916. Pierre. 1916. 223 p. diagr., maps, tables. This report contains much interesting discus-

sion of a great variety of tax problems with*, which the state of South Dakota is struggling. The commission makes several recommendations that are very significant. Concluding an ex- tended discussion of the defects of assessment by- local assessors, the commission strongly recom- mends the substitution of county assessors. A modest suggestion to the legislature that reform in the methods of legislative appropriations is in order is followed by an interesting analysis of~ such appropriations in recent years. Another im- portant conclusion is that the annual assessment of real estate is unnecessary and inefficient. The commission recommends periodical assessment at intervals of two, three, or four years.

The report contains an extensive appendix of statistical material and is carefully indexed.

Sydenstricker, E. A brief history of taxation in Virginia. Richmond. Legis- lative Reference Bureau of Virginia. 1915. 66 p.

Virginia State Tax Board. Bulletin, on the effect of segregation in Virginia- Richmond. 1916. 8 p.*

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120 BULLETIN OF THE NATIONAL TAX ASSOCIATION

Virginia State Tax Board. The taxa- tion of intangibles in Virginia . . . for the special use of commissioners of the reve- nue, examiners of records, and local boards of review. Richmond. 1916. 13 p. (Bull. No. 2.)*

Washington. Sixth biennial report of the state board of tax commissioners. Olympia. 1916. 139 p. tables. The Washington commission, of which our

well-known member, Mr. Brislawn, is one of the commissioners, has just issued its report for the two years ending September 30, 1916. Among other recommendations, we note that the com- mission suggests the increase of the rate of the inheritance tax upon direct heirs. The rate is now one per cent, and the commission recom- mends progressive rates from one to six per cent.

The report contains an interesting discussion of the problem of equalization and its history in

the state of Washington. It was formerly one of the duties of the state tax commission to serve upon the state board of equalization. The com- missioners were relieved of this duty by the legislature in 1915, a step which the commission believes was not in the interest of efficient equal- ization.

Another interesting section describes the prac- tice of assessors throughout the state in valuing property at various percentages of true value. An act of 19 13 attempted to correct inequalities by prescribing that no property should be as- sessed at more than 50 per cent of its true value. Since assessment at less than 50 per cent of value is not illegal and is frequently practiced, the commission urges that the legislature fix an exact percentage at which all property in the state must be assessed.

The report contains some 100 pages of statis- tical matter and a good index.

White, J. D. A scheme for land value taxation. London. King. 1916. 16 p. 3d.

PUBLICATIONS OF THE NATIONAL

TAX ASSOCIATION

The Bulletin. The official organ of the Association is issued monthly except in July, August, and September. It is intended for circulation among the mem- bers to keep them advised on topics of cur- rent interest. It is planned to make this Bulletin a real and substantial help to those wishing to keep up-to-date in tax matters and to make it a medium for the intercommunication of ideas and sugges- tions by members and readers.

Subscription price to members is $1.00 and is included in annual membership dues.

Subscription price to non-members, $2.00 per annum.

The Bulletin will not be sent regularly to purchasers, and it is hoped that the latter will find it desirable to be- come members at the small additional cost of $2.00, thus entitling them to receive all issues of the Bulletin together with any other literature which may be distributed to members.

Volumes of Proceedings. The vol- umes of Proceedings, covering conferences held annually beginning in the year 1907, contain a large amount of practical up-to- date comprehensive information 011 all

phases of taxation. The contributions are by experienced and expert administrators, well qualified economists, students, and in- vestigators, and by practical business men. The volumes are cloth-bound, fully in- dexed, and contain approximately 500 pages each.

The recognized value of these volumes is indicated by the fact that they are regu- larly obtained as part of the equipment of a large number of state, university, and local libraries in the United States and the Canadian provinces. They are also in use by state and local tax officials, attorneys, corporation officials, economists, and others interested in governmental finance through- out this country and abroad.

Prices : Annual membership dues in the Association, including the current volume of proceedings, $5.00, $1.00 of which is for one year's subscription to the Bulletin. Back volumes to members, $1.00. The current volume to non-members, $3.00. Back volumes, $2.00. Address orders and inquiries to

A. E. HOLCOMB, Treasurer, 195 Broadway,

New York, N. Y.

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