Some Tax Considerations In Mill Design

Members of AIME, I read to you now a portion of a very fine business letter which we received several years ago. This letter originated in Rangoon, Burma, and reads in part: "Rest assured, if your goodselves see with us eye to eye, sure as certain we should get the business". I don't plan to give anybody "the business" today, but you can rest assured that if some of "you goodselves see with me eye to eye" on what I am about to discuss, I would be most pleased. My talk with you today will discuss the Federal Corporate income tax and its effect on our lives as engineers. In the-engineering-construction business we are faced with all the usual form of taxation which includes such items as sales tax, use tax, school tax, contractor; gross receipt tax, import duties and excise taxes, severance taxes, etc, adinfinutum.