| Description |
In 1928, Utah Construction Company completed its first project outside of the United States with the 110 mile railroad for Southern Pacific of Mexico. Over the next 30 years, UCC continued to work on projects in Mexico including dams, roads, mining, and canals. The collection contains several booklets and correspondence along with approximately 500 photographs. |
| OCR Text |
Show 31- After making these exclusions, the taxpayer has the right to deduct the following: Medical and dental expenses and the cost of medicine provided that the taxpayer does not have the right to receive such medical care from some institution or enterprise. Under these conditions, individuals who are registered with the Mexican Social Security Institute or who have group medical insurance or who receive such care from the enterprise for which they work, cannot take this deduction. In addition, if in spite of these limitations, the taxpayer is able to take this deduction, it can only be taken for those expenses which exceed 3% of the combined income of the taxpayer after deducting his exclusions, and the amount deducted cannot be in excess of 10% of the combined income after ex-clusions, nor of US$1,600. Social Security taxes; Interest paid relating to investments which give rise to income taxable under this tax, provided that the rate of interest is not in excess of the maximum rate which can be charged by real estate banks; Insurance premiums on property which produces income taxable under this tax; Premiums paid for life, accident or health insurance of the taxpayer or of individuals for whom he has the right to deduct exclusions, as well as for. accident insurance on property of the taxpayer, provided that the total of such premiums does not exceed 5% of combined income after exclusions nor US$400; Donations authorized by the Treasury Department; Taxes, other than income tax, on the combined income of the taxpayer, and The expenses which are necessary to obtain taxable income such as commissions and fees, provided that they are duly supported for tax purposes. The taxpayer who does not wish to use the deductions indicated in the two preceding paragraphs can elect to deduct the lower of US$1,600 or 10% of combined income after exclusions. It is probable that, in view of the limitations on the allowable deductions the taxpayer can take, it will be more advantageous to use this sole optional deduction of 10%. 48. Tax rates: The progressive rates of Exhibit D, which reach 35% on combined annual income in excess of US$24,000, are applied to the taxable income. |
