Biennial Report of the Public Service Commission of Nevada

Biennial Report of the Public Service Commission of Nevada

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1921 edition. Excerpt: ...earnings in Arizona, California and Oregon than it does in Nevada. Its net revenue (before taxes) in 1931 made on its Nevada System was $20,452 per mile, compared with which on its system as a whole they were but $4,225 per mile. It should also be noted that Southern Pacific Company contributed to the purchasing power in Nevada in 1931 over 1,300 fewer employees and over 2 million dollars less in wages than it did in 1929. Its net income, after operating expenses and taxes on its Nevada System for 1931 was $7,696,000. compared with which its estimated net, based on the first four months of 1932, will be $5.132,832 for this year, from which it follows. of course, that Southern Pacific Company will have no difficulty in meeting its taxes. The $137,000 in taxes now withheld by Southern Pacific Company, if authorized in whole or in part, is in the nature of a gift---a privilege that cannot, of course, be accorded to the rank and file of the taxpayers, including those railroads and utilities that made no net income, but who paid their taxes in full. Further, this practice is an invasion of the Budget Act and its operation under the appropriations fixed by the Legislature for State purposes, which cannot be changed without throwing the burden on other taxpayers, or by arbitrarily forcing a reduction of the expenditures which have been approved and incurred. Southern Pacific taxes accrued and paid by patrons as aforesaid in 1931 were $1.233,000, speaking in round numbers, and from which said $137,000 has been withheld from payment. After paying these taxes, or rather after treating them and all other expenses as a deduction from the gross earnings of $18,803,000 made on its Nevada System in 1931, there remained as net earnings $7,696,000, or the...show more

Product details

  • Paperback | 234 pages
  • 189 x 246 x 12mm | 426g
  • Rarebooksclub.com
  • United States
  • English
  • black & white illustrations
  • 1236883861
  • 9781236883865