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17-18 News Bull. 1 (1957-1958)

handle is hein.barjournals/ialaw0018 and id is 1 raw text is: THE NEWS OF BULLETIN The Iowa State Bar Association Vol. XVII, No. 11- Vol. XVIII No. 1 December, 1957 January, 1958 1101 Fleming Building, Des Moines, Iowa 900 ATTEND 18th ANNUAL TAX SCHOOL Almost 900 lawyers attended the 18th An- nual Tax School held in JDes Moines at the Hotel Fort Des Moines on December 5, 6 and 7, 1957. This year's school was blessed with almost perfect weather. The attendance con- stituted almost one-third of the members of The Iowa State Bar Association. Since there has been no material change in the Federal income tax law in the last three years, the Committee felt the size of the registration was very satisfactory. The program was devoted to common problems in the preparation of Individual, partnerships and fiduciary Federal and State income tax returns, an intensified study of farmers' social security problems, and a timely review of procedural and technique as- pects of dealing with the Internal Revenue Service. The well designed program, excellent speakers, an impressive outline volume, and the good fellowship all blended to make the school most successful. On Thursday evening a reception was held In the Grand Ballroom with 75 members of the Internal Revenue Service and the State Tax Commission present as guests of the Association. The ladies held a luncheon and style show on Friday with Cownie Furs illus- trating how the other professions are living. On Friday evening, Professor William Pedrick demonstrated that a year in Australia had not dulled his wit, and entertained a large banquet with his experience down under last year. The Association is grateful to all of the speakers who appeared on the Tax School faculty and to the Committee on Taxation for their efforts in effectively presenting the school. STATE TAX COMMISSION BULLETIN For the benefit of the membership, set forth below Is a supplement to the present Regula- tion No. 10 of the State Tax Commission: Due to legislation enacted by the 57th G. A. and the subsequent veto, several changes in the Iowa Income Tax Law are mandatory. Five temporary provisions enacted by the 56th G. A. are now deleted from the amended 1954 Code and the permanent sections of the law are effective for the preparation of the 1957 Iowa returns. The amended 1954 Code shall be in effect except for the following changes in Rules and Regulations No. 10. Corporations Taxable income reported on corporation re- turns for taxable years or periods beginning on or after January 1, 1955, and before Decem- ber 31, 1956, must be computed at the rate of 3%. Taxable income reported for taxable years or periods beginning on or after Janu- ary 1, 1957, must be computed at the rate of 2%. No prorating is required for fiscal years straddling the dates mentioned above. Section 422.33, Page 21-22, Regulations No. 10. (Continued on page 2) BOARD OF GOVERNORS IN DECEMBER MEETING The third annual meeting of the Board of Governors of The Iowa State Bar Association was held in the Colonial Room of the Des Moines Club on Wednesday, December 4, 1957. Committee on Taxation Ralph Brown, Des Moines, Chairman of the Committee on Taxation, reported that ad- vance registrations indicated a very successful school and that the committee was hopeful that the school would operate in the black. He also reported that since the last meeting of the Board of Governors the State Tax Com- mission has agreed to permit a taxpayer to elect to file his Federal return together with a one-page short form Iowa return for Iowa Income tax purposes. Secretary-Treasurer's Report The Secretary reported that since the last meeting of the Board of Governors the Asso- clation has operated within the budget estab- lished by the Board, with the exception of the regional meeting program expense, for which no specific budget allotment was made. The Secretary reported that upon instructions from the President, he had set up a separate account for regional meetings, which is re- flected in the current operating statement and balance sheet. In this connection, the Secre- tary reported that the officers' travel expense account and the President's administrative expense account had been charged with cer- tain items of expense which actually were in- curred in connection with the regional meet- Ings. Following a discussion, it was moved, seconded and carried that the regional meet- Ings held and the expense in connection there- with be and they are approved, and the Secre- tary was instructed to transfer to the regional meeting expense account the items of officers' travel and President's administrative expense which were attributable to regional meetings and to delete these amounts from the fore- going two accounts. The Secretary also reported that under the authority heretofore granted by the Board of Governors, a lease had been entered into for additional space and that the alteration and remodeling plans are in process. He further asked the Board's approval for the purchase of additional equipment needed in the head- quarters office, including a typewriter, two new wastebaskets, a bulletin board, adding machine and a used desk. He stated that the total expense for such items should not ex- ceed $350. Whereupon, upon motion made, seconded and unanimously carried, the incur- ring of such expense was approved. Committee on Corporation Laws On behalf of the Committee on Corporation Laws, Ray Nyemaster reported that the com- mittee has been meeting and is well on its way to completion of a complete rewrite of the present Corporation Code. He stated that it was the recommendation of the committee that the new Corporation Code, as finally prepared by the committee, be the principal and only project of The Iowa State Bar Asso- ciation in the 1959 General Assembly. Committee on Annual Meeting S. David Peshkin, Des Moines, Chairman of the Special Committee on Annual Meeting, reported that the committee has a problem with respect to the 1959 Annual Meeting in view of the previous action of the Board that annual meetings should be held on the first Wednesday, Thursday and Friday in June fol- lowing Memorial Day. He stated that due to a Baptist convention, the aforementioned dates cannot be obtained in 1959, although they can be obtained in 1958 and in the years following 1959. Following a discussion, it was moved that an exception be made in the afore- mentioned policy as to the 1959 Annual Meet- ing and that the same be held the last part of May in 1959. The motion was seconded, carried and unanimously adopted. Committee on Continuing Legal Education Frederick Lewis, Des Moines, Chairman of the Committee on Continuing Legal Educa- tion, reported with respect to the regional meetings which were held for the Polk County Bar Association and in four other cities of the state. He stated that it was the committee's belief, which belief has been borne out by the large number of complimentary letters re- ceived, that the regional meeting program was one of the most successful projects ever undertaken by the Association. He stated that the program, which was devoted to the new Rules of Discovery and to the Pretrial Confer- ence, was presented to over 1,000 lawyers at much less cost than is entailed in presenting workshops at an annual meeting. In this con- nection, President Webster led a general dis- cussion with respect to future possibilities of regional meetings and their possible effect on the workshops heretofore held at annual meetings. It was pointed out in the discussion that experience may well prove the regional meeting programs should be emphasized in- stead of workshop programs at the annual meeting and perhaps the annual meeting could be devoted to speakers and entertainment over a shorter period of time than heretofore (Continued on page 8) Th NOTICE The attention of the membership is drawn to the December issue of the Drake Law Review where it is set forth beginning at Page 3 the transcript on the Rules of Discovery program pre- sented at the October Regional Work- shops. The next issue of the Drake Law Review will carry the transcript of the Pre-Trial Conference Program pre- sented at the workshops.

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