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1942 Quiz Book on Railroads and Railroading
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Page 12 of 1942 Quiz Book on Railroads and Railroading
TAXES
297. Who gets the larger share of railway earnings, the stockholders or the tax
collectors?
For every dollar which the Class I railroads paid to their stockholders in dividends in 1941, they paid $2.94 in taxes to federal, state and local
governments.
298. What is the annual tax bill of the railroads?
In 1941, federal, state and local taxes paid by all steam railroads, including switching and terminal companies, amounted to approximately $582,000,000. This is at the rate of more than $1,593,000 a day.
299. Do railroads pay other than property and income taxes?
Railroads pay many kinds of federal, state and local taxes. Their federal taxes include; capital stock taxes, excess profit taxes, income taxes, social
security taxes (unemployment and pension), gasoline and oil taxes, electrical energy taxes, liquor and tobacco taxes, documentary stamp taxes, transportation taxes, and telephone and telegram taxes.
Their state and local taxes include: general property taxes, franchise taxes, gasoline taxes, sales taxes, income taxes, excise taxes, gross earnings taxes, inspection, license and motor vehicle fees, liquor and beverage taxes and special assessments.
300. Have railway taxes increased in recent years?
Railway taxes in 1941 were approximately 130 per cent higher than in 1935.
301. What part of the railway dollar goes to pay taxes?
Out of every dollar which the Class I railroads received from the public for the transportation of passengers, freight, express and mails in 1941, 10.2 cents, or more than one-tenth, was paid in taxes to the federal, state and local governments.
302. How much work do the railroads do to earn taxes?
The Class I railroads performed 58,341,000,000 ton-miles of freight service in 1941 to earn enough money to pay their taxes.
303. How many days of the year do the railroads work to support federal, state
and local governments?
In 1941, the total receipts of the Class I railroads for 37 days were required to pay taxes. This compares with 27 days in 1931 and 18 days in 1921.
304. Do railway taxes help support the public schools?
A large part of railway property taxes is spent for education. It is estimated that railway taxes used for school purposes in the United States are sufficient to defray the annual cost of providing common school education to 1,300,000 children.
305. Where can a yearbook of railway information be obtained?
A handy little volume of railroad facts, containing much statistical data on the railroads of the United States, may be obtained free of charge from the Committee on Public Relations of the Eastern Railroads, 143 Liberty Street, New York City, or from the Western Railways Committee on Public Relations, 105 West Adams Street, Chicago, Illinois, or from the Association of American Railroads, Transportation Building, Washington, D. C.
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