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Kidco, Inc. / Tax Problems #493308

NBC Evening News for Tuesday, Apr 26, 1977
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(Studio) Following report with regard to clash between tax assessors and Kidco, Incorporated, established in West Indies, now operating in California.
REPORTER: John Chancellor

(San Diego, California) Kidco is fertilizer business run by Richard Cessna, Junior, age 12, and 3 sisters; kids get fertilizer by cleaning up after horses and selling it. Money earned is tax free and authorities in California say, if fertilizer sold for landscaping, it's taxable; Richard Cessna, Senior, father of children, and kids say taxes paid on feed before horses turn it to fertilizer. After bargaining, assessors and Cessnas reach agreement; details noted. [Richard CESSNA, Junior - is glad problems with tax men over for now, but isn't entirely convinced they are completely.]
REPORTER: Bill Windsor

Reporter(s):
Chancellor, John;
Windsor, Bill
Duration:
00:01:50

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