rjw@ptsfc.UUCP (Rod Williams) (02/07/85)
From the San Francisco Chronicle 2/6/85 (via Reuters & UPI): * LONDON - Sheep dog William of Arethyn has posed the biggest puzzle ever to Britain's legal experts - how can the $110,000 he has amassed on the London Stock Exchange be taxed? William picked his first portfolio 11 years ago when American investment analyst Robert Beckman asked stockbrokers to open an account in the dog's name. Beckman said he lets William sniff out the best buys from a chart book opened in front of him. Alternatively, Beckman reads from a list of shares and invests with those that elicit a bark or a nod from William. Inspectors have sought $33,000 in tax, but each time gone home empty- handed. The matter has now been left to Britain's legal experts to un- tangle. Tax consultants have advised that a dog may legally own property but only a legal entity can pay tax. This, of course, exempts William from any tax obligation. * reprinted absitively and posolutely without permission. -- rod williams -------------------- dual!ptsfa!ptsfc!rjw