Banner Graphic, Volume 22, Number 116, Greencastle, Putnam County, 18 January 1992 — Page 2
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THE BANNERGRAPHIC January 18,1992
House okays Crosby bill on mail order taxes
INDIANAPOLIS (AP) Out-of-state companies would be required to collect the state’s 5 percent sales tax on mail-order sales to Hoosiers under a bill approved by the Indiana House of Representatives. On the 11th working day of the 1992 session, representatives also approved on Friday bills to impose new regulations on disposal of the chemical agent VX and to liberalize the state’s voter registration law. THE MAIL-ORDER sales tax proposal in House Bill 1029, approved 89-10, could generate up to
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ALTERNATIVES TO CERTIFICATE OF DEPOSITS (MORNINQ SESSION ONLY) FOR THE SPECIAL INVESTOR Whose current renewal rates for their CD's are 5.0%-5.5% and are not satistied with these low interest rates, but are looking tor sate secure investments QTM from 7.25% interest rates with tax advantages to reduce Federal and State Income tax. WHEN; January 21,1992 TIME; 10:00 -11:30 a.m. WILLS VS. TRUST (AFTERNOON SESSION ONLY) REVOCABLE LIVING TRUST HOW TO AVOID PROBATE ’'Sgt HOW TO MINIMIZE FEDERAL ESTATE TAXES Importance of Health Care Power of Attorney: especially when in a coma How to maintain control of you estate WHEN: January 21,1992 TIME: 1:004:00 p.m. PASSING DOWN THE SMALL BUSINESS the other crisis (EVENING SESSION ONLY) REVOCABLE LIVING TRUST HOW TO AVOID PROBATE XSV HOW TO MINIMIZE FEDERAL ESTATE TAXES f • Vfflfe How Mom and Dad can maintain control J Living Wills and Health Care Power of Attorney iWHw—wtl How to be FAIR to “ALL” children l l/M J Estate Planning-Why doesn’t it get done? Who should attend... Discussion will include prodems unique to the family owned business. If you are a: FARMERSMALL BUSINESS OWNER-AGRICULTURE -this session is for you! WHEN: January 21, 1992 TIME: 6:30-9:00 p.m. ALL WORKSHOPS WILL BE HELD AT: PUTNAM COUNTY 4-H BLDG., 231 NORTH, GREENCASTLE, IN (1/2 mile north of the city limits) FOR MORE INFORMATION CALL: 1-800-287-9037 INDEPENDENT ASSOCIATES, INC.
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SSO million in additional sales tax revenue, said Rep. Susan R. Crosby, D-Roachdale. “It’s not a new tax. It just enhances our state’s ability to collect on existing taxes,” said Crosby, the sponsor of the bill. Under current law, Indiana residents are supposed to report their purchases from out-of-state companies and remit the sales tax to the state. However, only $371,000 was collected that way last year, said Crosby. THAT COULDN’T be a realistic figure of the tax due, said
Crosby, who carried to the podium a basket filled with mail-order catalogues she received last year. Crosby’s bill would require companies that don’t have places of business in Indiana but regularly solicit business from Hoosier customers to register for retail merchants certificates. The companies would have to collect the 5 percent tax on orders from Hoosiers and return the collections to the state Department of Revenue. The bill would apply to giant mail-order companies such as L.L. Bean and Land’s End, as well as to home shopping channels on cable television. Crosby said the constitutionality of such measures is still in question, but she said legal experts expect the U.S. Supreme Court to rule in North Dakota’s favor in a case testing the legality of such state laws. BY A 98-0 vote, lawmakers endorsed a bill that would force the Department of Defense to meet additional state requirements before disposing of the chemical agent VX stored at a military facility in Newport The department has proposed on-site incineration as a way of
Banner Graphic (USPS 142-020) Consolidation of The Daily Banner Established 1850 The Herald The Daily Graphic Established 1383 Telephone 653-5151 Published daily except Sunday and Holidays by Banner Graphic, Inc. at 100 North Jackson St., Greencastle, 1N.46135. Second-class postage paid at Greencastle, IN. POSTMASTER: Send address chsnges to the BannerGrsphic, P. O. Box 509, Greencastle IN 46135. Subscription Rates Per Week, by carrier Per Week, by motor route - $1.45 Mail Subscription Rates R.R. IN Rest of Rest of Putnam Co. Indiana U.S.A. 3 Months $21.00 $23.00 $25.00 6 Months $40.00 $45.00 $50.00 1 Year $78.00 $86.00 $95.00 Mail subscriptions payable in advance ... not accepted in town and where motor route service is available. Member of the Associated Press The Associated Press is entitled exclusively to the use for republication of all the local news printed in this newspaper. Steve Hendershot General Manager/ Marketing Director Eric Bernsee Editor Wilbur C. Kendall Production Manager Gib Farmer _ Business Manager June Leer Circulation Manager
REP. SUSAN CROSBY Not a new tax disposing of the nerve gas at Newport and other sites. The department is under a congressional mandate to dispose of chemical weapons. Rep. R. Jerome Kearns, D-Terre Haute, said his H.B. 1134 would require proof, before a permit for disposal is issued, that the method of disposal has been tested and found to be safe elsewhere. The bill would also require training for disposal workers and an evacuation plan. WITHOUT SUCH safeguards, Kearns said he feared a small amount of the potent gas could escape and cause illness or death. Depending on the prevailing winds, the gas could carry as far east as Marion County, he said. By a 65-34 vote, the House also approved a bill that would allow
IBM reports $2.8 billion loss; first drop since ’46
NEW YORK (AP) IBM Friday reported a 1991 loss of $2.8 billion because of two enormous expenditures, one a setaside for future retirement benefits and the other for a previously announced cost-cutting program.
hoosier lottery Lotto America Lottery Line INDIANAPOLIS (AP) Here are the winning numbers selected Friday in the Hoosier Lottery: Daily Three 3-7-9 Daily Four 6-1-3-9 Lotto Cash jackpot Estimated at $2.5 million Lotto America jackpot Estimated at $4 million
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Join Jill Griesemer, the Retirement Plan Investment Manager from Merchants National Corporation who will briefly discuss your options and provide information to take with you. TUESDAY, JANUARY 28, 1992 7:00 p.m. Lower Level Central National Bank meeting room. To make your reservations contact Annette Lewis at 653-4161, ext. 40 Seating limited, RSVP by January 24,1992 ‘Substantial tax and interest penalties are required for early withdrawal. CENTRAL NATIONAL BANK OF GREENCASTLE A MERCHANTS NATIONAL COMPANY 1 Central Square, Greencastle, 653-4161
mail-in voter registration and would also require many government agencies to conduct voter registration. H.B. 1239, also sponsored by Kearns, would require voter registration sites to be set up in city and town halls, Indiana Department of Employment and Training Services offices, Bureau of Motor Vehicle license branches and the Division of Family and Children offices. ADDING THE mail-in registration and hundreds of other registration offices should increase the number of registered voters, which has been in decline, said Kearns. In 1990, 32.4 percent of eligible Hoosiers weren’t registered to vote; in 1988, the figure was 29.3 percent Also on Friday, the House approved bills that would: • Establish a state commission to study the social status of black males. • Beef up inspection requirements for school buses. • Impose a state tax on illegal drugs confiscated in arrests of drug dealers or distributors. • Raise by sl2 million over the next 18 months the cap on state tuition support payments to public schools. This would allow the state to make up for an anticipated shortfall in aid to schools that was caused by higher-than-expected enrollment last fall. The extra money will come from other education appropriations that are returned unspent at the end of the fiscal year. All of the measures approved by the House now go to the state Senate.
International Business Machines Corp, also reported its first year-to-year drop in revenue since 1946, a decline of 6.1 percent from 1990 to $64.8 billion. IN THE FOURTH quarter of 1991, IBM lost $1.4 billion, or $2.42 a share, due to the $3.4 billion charge to pay for the cost-cut-ting program. That compares with a profit of $2.5 billion, or $4.30, in 1990’s fourth quarter. Fourth-quarter revenue totaled $22.1 billion, down 4.2 percent from $23.1 billion in the same quarter a year earlier. “1991 was a disappointing year,” IBM Chairman John F. Akers said. “We were adversely affected by protracted worldwide economic weakness, competitive pressures and transitions within our product lines.” ANALYSTS ARE less concerned with the huge 1991 net loss than with IBM’s operating profit, which shows how the company’s underlying business is faring independent of any accounting charges.
CENTRAL NATIONAL BANK presents A“FREE” SEMINAR ON SIMPLIFIED EMPLOYEE PENSION PLAN (SEP) For Small Business
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Release of memo on Hussein talk
WASHINGTON (AP) The State Department is under court order to release a memo written by onetime Ambassador to Iraq April Glaspie on her meeting with Saddam Hussein a week before the 1990 invasion of Kuwait. U.S. District Judge Charles R. Richey ruled the State Department had given up its right to keep the document secret BUT THE JUDGE denied a request by consumer activist Ralph Nader’s Public Citizen organization to release six more documents and said he would continue to consider whether to release a seventh. The July 25, 1990, meeting between Glaspie and the Iraqi president was a pivotal issue in the debate over whether the United States had led Saddam to believe it would not intervene if he tried to take over his tiny, oilrich neighbor. Public Citizen filed suit last April under the Freedom of Information Act, contending the government waived its right to keep the documents secret by discussing the Glaspie-Saddam meeting in public. IN HIS RULING earlier this week, Richey ordered the State Department to release a twopage memorandum sent by Glaspie to a department official concerning the publication of an Iraqi transcript of the meeting. “The information in this document was publicly acknowledged,” Richey said, ruling the government had waived its right to withhold it. He ordered the document released by Jan. 31. Richey said he would consider ordering the release of a second Glaspie memo but would first give the Slate Department another chance to convince him it should not be released, or to delete some sections. THE DOCUMENTS Richey refused to release, according to Public Citizen attorney Theresa A. Amato, included four cables describing and analyzing Glaspie’s meeting with Saddam, a report on the Iraqi transcript with her markings on it and drafts of a proposed opening statement to Congress, which were not used. Richey who examined all of the documents in private said those six documents “contribute to ‘an ongoing deliberative process within an agency,’ reflecting the give-and-take leading up to a decision.” The Iraqi transcript fueled the debate over the meeting. It said Glaspie told Saddam the United States would not take sides in “Arab-Arab conflicts like your border disagreement with Kuwait.” IN CONGRESSIONAL testimony last spring, the former ambassador acknowledged she made the statement. But she said she also told Saddam the United States would insist that any dispute be settled peacefully. That statement was omitted from the Iraqi transcript, she said.
ziW CA T 5 Feb. 3 & 4, BPM IU Auditorium, Bloomington Call Ticket Master: 317/239-5151 Public: $29 $26 $23 IU Bloomington Students: $26 $23 S2O Tickets available at II Auditorium Box Office. IMI . karma Records, L.S. Avres. and all C kxations.il students must show student ID at point ot purchase and point of entry.
