The Bismarck Tribune Newspaper, July 27, 1931, Page 3

re i MONEY BENEFITS OF WAR VETERANS ACT ARE HELD TAXABLE Morris Rules Property in Hands of Guardian Is Not Exempt Under the Law An opinion as to the taxability by the state of money benefits of the World War veterans act of 1924, held by guardians of the beneficiaries, has been issued by Attorney James James lorris to George J. Garrit ional attorney for the veterans administra- tion at Fargo, Nine specific questions relating to End subject were submitted by Gar- wT ictidtisedtines under which money benefits, such as insurance, compen- sation, adjusted compensation and death compensation paid by the Uni- ted States to or fiduciar- ies cy the ‘united States Veterans bu- reau, are not taxable by the state were outlined in the opinion as fol- 1 low: “When the money is in the hands of @ guardian; when the money is de- posited in a bank and subject to check; when the money is deposited in a savings account; when the money is loaned on a time certificate of de- posit; when the money is deposited with a building and loan company; when the money is invested in secured and unsecured promissory notes, bonds and mortgages on real estate. “Since these six propositions in- volved classes of property which are exempt from taxation regardless of the source of ownership thereof,” the opinion continues, “they are, of course, exempt in the hands of the tinder the Pe of the World ' War veterans’ ac’ ) guardians of a beneficiary of the World War Veterans Money benefits, however, were held out of money received from the Uni- ted States veterans bureau; and when the money is invested in real estate where it can be shown that the amount paid for real property is de- rived wholly from money paid to the guardian for the fer of his ward in reply to eaibuhée query as to whether the income, earnings, inter- est, or increased value on such pro- perty would be subject to taxation by the state, Morris stated that “it is obvious that if the property itself is taxable, the income, earnings, in- est. and increased value of Loni Property would be subject to taxa- tion.’ Freeburg Supervised Courthouse Erection During the erection of the new county courthouse, N. A. Freeburg, for many years a contractor and builder in Bismarck, was employed to repre- sent the people of the county ‘as su- Perintendent of construction. Feeburg acted as the connecting between the architects and the builders and superivsed work of con- struction. DIVIDE BUDGE* RAISED Crosby, N. D., July 27.—Divide county’s budget for the next fiscal year will be about $29,000 higher than last year's due principally to increased poor relief, less cash on hand, and the probability of poor tax collections. Franc Special .Hat Sale. Latest styles and patterns. Finest quality at give away prices. " (CAPITOL, THEATRE TONIGHT and TUESDAY Whizzing to New All-Time Laugh Records. Screen’s rapid-fire comic hits the circus grounds for seven- ring show of whizzing farce! A riot in “Rio Rita”... . plumb nuts in “Cuckoos” “Cracked Nuts” +... @ panic in and now his tleny ans with ROS Ltd Adorable sensation of “Millie” MISSOURI SLOPE Biggest Carnival Ever Come to North Dakota | There are 13 political parties in 2. ’ © 1931, Liccerr & Myers Tosacco Co. STATE FAIR Don’t Miss $3600 Free Act Program Every — | Afternoon and Evening THE BISMARCK TRIBUNE, MONDAY, JULY 27, 1931 OOD.. they’ve : got to be good! “ROUND THE CORNER” 10,1 Oo DRUGGISTS AND PHARMACISTS IN THE U.S. A.1 stand ready to help Af you can’t find it in a drugstore, you kick! And that goes for al- most anything. What a bother life would be without the corner druggist. Sick or well, you count on him—and when he doesn’t - come through, that's NEWS! No purer cigarette can be made! And our factories? The last word in machine equipment, light and sanitation. Models of cleanliness. The air through- out is changed every 4% minutes. Nopurer, milder, better-tasting cigarette than Chesterfield can be made. We chal- lenge the world to produce a better smoke! Worth every cent and every thought it costs— PURITY. Everything that goes into the making of Chesterfield cigarettes MUST be pure. No “‘maybe’s” will pass muster here To- baccos—the mildest, ripest and purest money can buy. Paper—the purest made. Chesterfield THAT GOOD CIGARETTE—THEY SATISFY JULY 28-29-30-31 MANDAN, NORTH DAKOTA Spectacular Musical Vaudeville , DODDSON'S : WwW orld Fair Show 16 Rides Mee gees hcegen ote 600 People 3Bands. |: Fast Horses From 7 States