Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1866-08-16
ABSTRACT OF THB ANNUAL INCOME TAX


u..,,e hs.n requested TO prepare an abstract
~ That ia required BY law In reference TO the In
coma TaI. and Of the decisions by the Depart.
msnt AZ warhtnRtQn upon VARIOUS questions that
men, s-,s"n We nresent he whole subject, under
i,a savsral iIstinct heads:
n".~.u,yr suouIn M ~NIpy-.wHERE, WHEN,
s.n nv WHOM
ra,niros everv nersou oflawful age,
70 f1nI,od States 10 render TO tho
t,eatuno - 1850 ~ the snh-d,str;ct in which hO
hss,s'ana =" rosid;ns on The Inf day of Nav, a
VI sue niay a.onrdino to n nrescribed
Wrt'eh sSA'omons, ~ III &c bsr incame onIn.
form, OF the ainountoi e., Ion
and pronts curing ING nv. Se,L InoirsIvs
Isl 10 december Sibtr vv'n 80
A printed blank containing .nIs ~ esn ouo
tanned from the Assistant Ahsessos. n pS
having no fixed residence, sn9uia nAke . .auS
ment wherever ne or she may napPen W a.,
In case of removal 10 another district, snould taSe
q certified copy Of such statement. 10 snow any
other Assistant AssesSor, who otherwise might
make q second assessment
Q. The statement must DO rendered on or De-
fore the LIST day Of May, or within ten days atter
a written or printed notice requiring II, has been
left at the place of residence or OF business, or de-
posted In the pearest Post Office.
3. The annual income tax Is q personal TAX
and II cannot be assessed against any corporation,
or partnership, as such. Every lndl'
yidual member must mako a statement of his or
her share of or interest In tho gains and profits Of
such company, etc, whether such gains and
profits are divided or not, and must also state
sencratelv his or her income from all other
sources
Evils or NEGLECT TO MAKE OUT OR VERIFY
STATEMENTS,
z II any person naolects or refuses TO render a
vritt.n sfptarent the Assistant Assessor IL re-
oueu,ed 10 AN ont n blank with such person's
name, and taxable income Estimated according TO
the hest jnformation that can be obtained. and
nnon mi, a,tima,.d Income 10 assess Inc tar and
tben 10 add o5 per cent. 70 such tax M a penalty
for NEGLECT or refusal.
~ 9 IT, hsss,ont Av.essor NAV h. mi.led In
,,oLtnn ,bis as,In,a,a hv hsIng misInformed as 10
49,. ranninnJ ~ rnt Jnforr,oJ ov % nnpev
anJI ~ 80, nSSavs hov-orsr occordipg m tbs
p"lu' - III ..t.htn III, saoah III ri. nar
: noS.".F -. ahso,r,aI,, .orrsn, ,n,o,na.
Sun .H I"p"o.uo. ~ oUa ,sho s.Srsas y > nsgInc,s
.son uequoM,s, - =, .,ch nnrson viii NOT
= mahe . ,n u,sorn ,Ss vLs,ont As.s..or
take the trouOle 70 INFORM u n s4s nUs"
'here Is u oar Z All onlPia'n. rLpu = :" So 1870
Hien' Proro ineoitoe., - " 49," Nr"ovar
nun mouia o.no."ssv - rads n srro
~ u |" ~ % ,bs nu,,v in.
neous, 10y msa,nJ All narsops there.
tereS,eu ! NV y III to,1SL ;rco,,
ioEei uu' sss,i.a5 s,o,am.n,
should not fail TO render the required stateheh''
upon the proper olank' 30 ~ 10 HVoid uhuue TAX
alton and trouble
q Every statsmens mus. % eiin ,h I =
- -
Assss1S. u .SIu,'s 20 :, 70 ~. ,or 'n' :"
W = ~ x,vISa ,p,Isp s~rAryNysT
n S..,an, assossor no. nnwsr ,o ipr,,n,,
49,, In nv ~,a,anan, af,sr giving dina
i ~ ~ thu nnr,v interested He IL rc.
nntr.d L. ~ aJJ IN n.r c.n, 20 The tar when
qunsu' -. go ranJo,.a and IN,
D,an,nn d. caIs. s,a,smsnt hecomes liable,
\ Gu hi odd,,ionsl tay bnt likewise 10
Y my ~ .. - Laco.a a. II,i,.J scot.
wv NJ = mos;na Iaisa statement with in.
Inans 49,. Gou.-nnan, .nd IN. other
Ient W :" AN
y. psyya'5 v,v,so ,p STATEMENT or INCOME
a. ~. IIs,b section Of the Inv. the CommIs.
.Ionsr of IntsrnaI Reyenu, /. empowered 10 pre-.
scribe the form and manner in which the state.
ment of income must be made up. This he has
don, in IA printed blank used by the Assistant Az.
sdssor, and In various circulars and rulings. The
following ia a summar Of what has been pre-.
scIioea: .... into xv,,oh IN. ,ur.
. haep !. nj ~ . Tnvas,msn,s oS cani,oI b"v.
I'LL, -, ~. rs,rrrad .,n,roi,I,- lo...s
Z - ara..S 90 ~, coi,s In orotb.r
IN one NOT oc,pg aIo"eu 70 onset s"tns ~ ~ T.,
Inus Y Inotennnt Wv 1850 ~ " Ln III
speeulalIons Iol oeIonsius ~ nv W. ~" -,
ness CANNOT o"set Ba'nS III IL oue u! "''e :"
'u y ~. ;r.,a.,, IN sacb husIn.s, re-
nIs 80 ,ha racaIn,. ~ ,bn, hns;nsss
ueuus.Ioro ~ 'nV I.sS.IPPsL, haIa,rinm a a,y
D. oPeeuIa,vns SHS'y Ie'oonnssS 'n,n a.,
y In na, a.anrn, Tbn:o LroLar NAV sn.c.
Pun, ~ T.; n4 S,ocSs . Jru GOOD. msrchnn, In COTTON, a
!. :" ~ 4, ;.yon onc and ."rS sn.crio,ion
"g y" ,ha n,;n and To-. ~ sn"b fcoitimnt,
may nns' - sch",t aIso nav naIe or Ioss Inv
ous,ness. ~ k,na of 49," raiJ %. hi. ,,.y.
eScnsnBe ~ Money pn.u y. ~
cnanaise' NV tu' snin U ~ " ov'onSS nrnsn,
chandlse account; bul II nc ouys soiu, ncu',en
money; united s'a.es irensnly no.es, ~ am!
other Inn8 not y .. .nG ~ ~ ~ " =,
Ing 10 ms regular business Q 'ne puIPose VI
speculation, tne prom. y lose IRON sucn speeu w..
ZION WI, U . ''' ~ pass az
from ms r vs. az uhneS S"n. WnsL nm
P~ a,-,.,Jn, b,m % rsa 4, In tba nrrcbase and
ker, instruetng MN 70 use u IN Tue purcnhse nna
sale OF goid, on tnen aceounl ;.anu ns'nS 'os \.
sg7,SOO In this venture, tney claimed tnat IL
should be deducted rom tneir pronts In business;
Commissioner Lewis disailowed tne clam; ana
said the uniform ruling had been that "Vhen a
loss is' made In any particular business. against
which there are no galns 10 onss'; y ~ ~ So Bs
etsa . 4 Ac0iD .s2oss Of canItai cannot he de.
duc,.d from Income" Return of income must
Sc made on the gains"
a How far different kinds of business must be
returned separately Is shown BY the following
rulings of Commissioner Rollins:
kind of business canno, be deducted from gain in