Mr. J. Gates Williams October 12, 1943 Amount Royalties Received seven Members of Browning Federal State by the the J. M. Family Income Income Percent $202,382.34 Taxes Taxes Paid Paid Retained 131,580.26 Total $202,382.34 100,007 eaabeaeel the members State income officers event total of the royalties J. M. amount after payment or 65.01% Attention is invited to the problem directors of the M. & S. which war, or for any other reason. tion liable for taxes upon company this situation, was paid were act, to must major portion due the condition years' Company, income winning leave which, the As example of this 1942 paid during the effort Z 320,000.00 tax year 194 h26,131.14 18,500.00 Total $764,631.14 observed that there would be left for personal for $426,131.14, $800,000.00 of Utah Tax be corpora- following: Te the provide 1942. of of to December Corporation cor- the or Royalty Income Year 1943 the under tax, an an the income the In would in of Federal Oneehalf will prior Browning the 1942 submit It This confronting to and total. the point State cease, by Federal of in Federal suddenly the of distributed. advance Estimated for the M. of the retained be one-half we J. constitute income, particular net $131,580.26, is royalties, in the family, poration's holding received Browning taxes, and that Of the