Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1866-07-30
OF rHR ANNUAL MooNE. TAX
ANNUAL o TAX.

OF what ID requhed bylaw Ieioton 49,.
come Tax, and III, tne decisions ny 'ne DopIay.
ment at washington upon various questions tsat
have arisen, wepresent fne whoie suRJect' unaeS
It's several distinct heads; Il 30,
srITENEsr SHOULD BIZ dADE-wHERE, WHEN,
AND By WHOM.
l. /. Tho law requires every person OF lawm aSe,
residing In the, United, States, TO render 10 inc
Assistant Assessor OF tho suo.dlstr.ct In wnicn ne
or she may be residing on the lst Gay OF Ahyis
written statement. eceording 70 = prescri1oo
form, Of the amount OF his or ner income, gains
end PROFITS during the previous yeaI, " JIM
uary LIST TO December 5isb potn aays mctusive'
A printed blank containing TINS iorm eau 2 y !.
tanned from the Assistant ASSESSOR. a person
having no hxed residence, sn1uiu mAA '.a
ment wherever ne OF sne may napPen 70 o1i anu,
In case OF removal 10 announcer uistlc., snouia JAW
n certified copy o. such statement, 70 snow my
other Assistant Assessor, WHO o'nefmlsc nnnsnn'S
make o second asscssmenI
~ 9. The statementI must DO tsnuereoo VI DO
fore tho LIST day Of May, or WITHIN ten Gays aiter
q written or printed notice requiring IL, mas Deen
lefl at the place ofrcsidence or OF business, or de-
posted In the pearest Post omee.
Z The annual income tax Is . personal YAK,
and Il cannot be assessed Asanst my coIporauon,
company, OF partneIsnlP, Us suSn- nseIy inui.
vidual member must mako o statement OF his or
her share OF or interest IN the gains and Pronts OF
such company, etc, wnetner sucn gains ana
pronts are uiviueu OF nor Ano must Mso s,a'e
separately MS Oh. ner. income from Ill otner
sourcek
EVILS OF. NEGLECT 10 mAkE OUT OK 'Ekiff
3 II any person neglects or refuses TO render q
written statement, the Assistant Assessor Is re-
quested to ill out q blank with such persons
name, and taxable income estimated according TO
the beat that can DO oDtaned' ana
upon this estimated income 70 assoss the,tax, and
then to add % per cent to such tax US a penalty
for neglect or refusal a. .
6 An Assistant Assessor may be mlsled In
making this estimate, by being mislnformed as TO
money received, or not Informed M TO money
paid. He must assess, however, according to the
best information within his reach. The only per.
son capable of giving absolutely correct informa.
tIon Ia frequently the one who refuses or negleets
to mako a statement. II such person Will not
take the trouble to inform the Assistant Assessor,
there II a bar 10 all complaint, should the assess.
mept prove Incorrect, and a heavier tax be levied
than would otherwise be charged. Moreover,
after nm assessment has once been made, II erro
neous, II Is always troublesome to the party In
terested TO HAYS Il corrected All persons. there.
fore, but especially such as hdue no taxable income,
should not fall to render the required statement,
mon tbe proper blank, 80 as TO avoid undue tax.
alton and trouble.
= Evorv statement must be verified nv oath or
,.n,,;oy Vhen iris Ia not dome. tho Assistant
Hsssssor i. raouIrsd N estImate The income and
a. "a os nosoan, ~ 20 an. ,oy
E'iLs " 1880 iALSL
y An n..S .n ns s,a,annn, "t,.r siyine dns
'uo ny IA - -. in.r.,ad III +, 20.
nntn.I sIsn ~ IA IN H.r en-, 70 tho taY when
y ! go a,o,an.n, bas bssn ronicrsd and Nh,
49, noS,na ,bs faiSs statement becomes liable.
o. ~. r.. NJ adJt,ionoI ,aI hn, iIkev;ss N
nos ~ y, ~ 49, hatora tho IfrJ,ad states
S~oals'tnSs oeLInn Seisa S,o,oWant Win In.
La s-nnsa, anJ ,L. o,har
sen. y uu'"uu 's
LOT pelyury. -, NJ ,xcouv
AAnNEh - aAninu ia.. y 1900,
by tne Listh seG,ion o. 'ne NV, .ne Sc u y
sn o = H. ho.n anS ,.annIr IN xIb,ch On. .,pts.
sei.oo ny yVum - :. 80 y " mi. ~ %av
men - =, " . n.in,od hiant usad hy * !: AssIs,an, AZ.
sJssor and in ysnons circulars and rulInps. The
foiIon,no h, n summaTv on what has been pre.
..Hp"ss !"
I 'oS ~ =, N. c,o0, o,o..s. into which IN. npr.
- haSu NJ ~ a Il = nani,oI b"xo
sui.s on " = ,ns rnnnad ~ sapi."' ,oss.s
49, ~, Sa,nc a,,owad 20 oTs.t cojns In arotber
N one not Jenny anU"eu W ons' u sa nsm IL ~. H.
Tnus = metenant VINO engages ~ ianHlI a LII ~
speculatons nol oeIonging 70 M IeBimnn'e ous.
ness esnnot ouse' gains III TUG II W io''e' !"
'ne 0.ner. .u -.
eSp "n, ~ ,s ~ ~ ,Se, hus,nass I"
9 Snonvia,inrs Lsf,ina,,Ir hsIonoInn 10 INV
y opeeuiaStyns ~" os IT, ~,
ousa u In ~. aooorn, Thn: %.oIar NAV snsc.
p,on' - 49, 800. na.ohon, In cot,nn a
uIaa1 ~ ssUI~D' q - o,o aDS .".s snscnio,i,n
= e., ,ha a,in and L., N mn feSitimate
may as' ~ oh"rt aIso mav maL. or ioss nv
ou un ,ha rtrd ~ Money rsid for hIs mar.
ehcnsnBo VI - nv Iau ~, So.
cnanaise, anu rn,S s an, n ~ - soS Su Uu,U LIZ nnnnrrsnt
c,on"H itnitsd s,aiss Tressnry notss' or any
mvuo, 49, aS,h. 49,: 49, halorg.
Other tnins NOT one o. .ns arucies Q, .raue oeronS
ing v hs tusui ia, -. ZEE ~ aU .poorIo.
.PeeulInon, ine 5L o.s "a 80 81, ~. urna, or inss
W III. .ao,iar hns,nass A" hrsSness Arm
AlO"
Pnr Jns,rnctIny him IN use II In Inc purchase and
mi, ~ rnId on trelr account : and having lost
so1 sOo In this venture. thew claimed that II
| shonId be deducted from their profits In business.
commIssIonnr Lewis dIsallowed the claim. and
III ara ,Sn;for,, ruI,ng had he.n that " vben a
80 T. mads IN any partIcular business. against
,vhIeh tb.To arc no gains 10 offset, II Is consId.
srad a I.ad Lo,, Of capitaI inoested In Aat bust.
n,,s" Again. "loss Of capital cannot be de-
Quoted from income" "Return Of income must
DO made on the Sains."
4. How far different kinds Of business must be
| returned separately is shown by the following
rulings Of Commissioner Rollins:
d)-"Loss incurred In the prosecution Of one
| kind Of business cannot be deducted from gain In
business Of an entirely different character, nor from
salary, rents, dividends, etc"
B)Z"Losses incurred In the prosecution of one
branch of business cannot be deducted from gain
In another, since an absolute loss incurred In the
prosecution Of q single business IL indispensably
q loss Of capital"
(0-"Losses In merchandise can be deducted
only from gains In merchandise but, In this case,
particular branches Of merchandise need not be
separated. So In speculation, tho loss or gain
from stocks NAV ofset loss or gain from produce
speculated I'M"
N-"Merchants must make return Of their
prosts from merchapdIse without regard 10 their
losses in speculation, or gains from interest, divi.
bends, rents, or any other source"
W-"Losses In speculation cannot be deducted
from salaries, nor from gains In merchandise.
When Losses are Sustained In one speculatIop and
gains made in another Speculation, such losses
NAV bs deducted from such gains Losse, in one
hrancb N msrcbandIss NAV Ia dednctsd from
oaSnS IN snv other branch ofmerohandise,
0"aWbsra stocks stc, ara bouUbt as n per.
Enm, ,nxnstmsnt ana soid again rnsreIy N
ohara. ,ha Jnyestmsnt a loss s1staInsd In the
sals NAV be deducted from the diyidrnds from
,vck Sto:k Rnt yyber, IN. nurchase Ia made for
he nurnose Of sailing again on speculation, the
loss sustained by .he sale cannot be deducted
nom dividends, but may DO deducted from gains
derived from the purchase and sale Of stock, etc,
IN tne same yem.
Frorn ,ha total amount Of znch rents received.