Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1866-07-24
lRsTR.oF Or FHB ANNUAL INCOME tax
1NNTAL-NOOmR TAX.

#..-HaR
have arisen, We present the whole subject, unuef
Its several distinct heads: 70
IN SHOULD BE ~hADE-wHERE,w WHEN,
AND By WHOM Hs il
/. The law requires every person Of Lawful age,
residing In the United States, to render to the
Assessor of the sub-dlstrict In which no
or she may be residing on the LIST day of May, q
written statement, according 20 q prescribed
form, Of the amount Of his or her income, gains
knd profits during the previous year, from Jan.
uary 1st to December 3lst, both days inclusive
Horinted blank containing this form can be OBJ.
tained rom the Assistant Assessor. A person
having NO AIRED reSidence, should mako a state.
mont wherever he or she may happen to be; and,
In rase OF removal 10 another district, should take
a certified COPY Of, such statement. to- show any
other ANsiStant ASSESSOR, who otherwise might
make A second assessment
8. The statement must be rendered on or be.
fire thu lst day of May, or within ten days after
n written or prtnted notice requiring Il, has been
isW M Inc nlaca al resIdeuce or Of business, or de.
nns,,sS IN thn nsareat Post 0fSoc. - =.
P - TN .nnrai Income tsr Ia nersonal ,ax
and n cannot be assessed araInst any corporation.
comnanv or nartnershin as such Every indI.
o LAM Ut mnst sui, y o,a,ausnt ~ nj. nr
hs. sh.-S ~ ~ in,ar.s, IN ,ba eaIr, md nrostv NJ
.~.h aowUaO, az. 'wh.,h.r .ncb Nrajny and
nroats arc diyided or not-and must also state
sepnrately his or her Income from ali other
sources
EVILS OF L TO MAKE OUT OR VERIFY
STATEMENTS.
s II any person neglects or refuses to render a
written statement, the Assistant Assessor IL re.
ouested to all out a blank with such persons
mans, and taYable income estimated according TO
tbe hest Infoymation mat can be obtained, and
mon tbis sstimat.d income TO assess Inc tax, and
Then TO add o5 DER cent, 70 such tax US a penalty
for neglect or refusal.
q An Assistant Assessor NAV be. ,misled In
mskins hi estimate, by being mlslpformed as 10
-. -, a. ,,onav
paid. He must assess, however, according to the
best Information within bis reach The only per.
SON capable Of giving absolutely correct informa'
tIon Is frequently this one who refuses or neglects
to mako d statement. II such person will not
take the trouble to inform tho Assistant Assessor,
,hsre IL n bar 20 All complaint, should the assess.
mani nroye incorrect. and n heavier tax be levied
than would otherwise be charged. Moreover,
after nm assessment has once been made, II erro
Moons. IL ia always troublesome 10 the party In.
terested tohaye II corrected. All persons, there.
fore, but especially such as hare no taxable income,
should not fall to render the required statement,
alton and troubla
= Every abatement must be verified by oath or
affirmation. When this Is not done, the Assistno
assessor Ia required 10 estimate the income and
10 add Is Der cent to TO the tax.
Evils or MAKING A FALSE STATEMENT
O Az A ssIs,ant Assessor has mower 10 increase
~. an,ount In anv statement. after giving due
,nforma,ton N the marty Interested. He IN re.
anir.5 L. ~ add In mar csnt 10 the tar when
qusrea' a.so, ~ = " - rorSorsd anJ ths
.Mss 1870 ,ha faiss s,atsmsnt bscomes liable
party Iaxins - .asS,t"nsI ,as bv, iiSevIss ~
NOV on,y :. nm a.tnnS 100 ,hs Limited STATE
rwoa is'inc. w.Stns : yeisa statsmsnt with in
Ss .SH SararnTnsn, anJ tbo o,har
ten. 70 aehAuu = -
10, PSuar ~ ,v,sa up sr.rrNpyr OF INCOME
Sn.h IIoah s.s,Ion ~ ,ba Law ,Sa CommIs.
49, irtorro al Rsvsnus q. emnowercd 10 nrc.
sNonet ~ nHA $3.50 IL .ih,.h IN. s,a,e.
serloo sno JoIm Anu a"m., ThIs r.. ho.
ment OF income must DC msae ". inns ne nns
done In q printed oiank use1 oy ths AssslAh' m ~
SCISSOR, and In varlous circulars ana rulpsS ine
foliowing In u summary oi "n"' h"S oeo" pro-
scTioea; ..., o u,,.h IN. rrr.
!: Laeh Of tns esea. S,asses n1.' ~ ~n nnni, y b p
SUITS OF INC anu tue hYesImen's " eaPitA4 low
In one NOT oeing alCwea 70 onset Satns In ano -" , H.
Inus nercnnnt Tno 1885, y ai.Ina h,s ~
speculanons = oe.onsn . 3 ~. y Nv 49,. IN
~ e,sn. '"'0' s"A' - "
!" 3 TIM .,nenses IncIdent IN each business re
r.. HaaSIn,s 81 ,ha, hnsJnass ~
ueauSNoIe nvn NY iesSa.pPsss,GI. Saionn;nn =" orv
j. Specuiauons NSuImae1y 9e'on8mB W any
business, anu 'nese Mone, nay esai.iou ' I've
p!ont ana loss aceouht IIokei may sPee.
plaie IN STOCKS dLy S'oas nelen INN IN eo.LoI, =
naraWaIo my - ~ ~ Is. =, ~ goL,Vn,a,.
may aueet tne 6GtH anu tossot suc" leSnihs.o
business. merenans "Iso may maN ~ u ITse "
e1cnsnso = ~ :. no.ey $50 Ut -
cnana,se' a .uh SCI Dr., ~ ~ ~ 49,. U rnfS nnomrr.n,
G,nnsx iTnItsd States TreSsury notes, or any
MnSS.y y. not ons ~ tha articis: ~ ,rade belong.
Gthsr ming NOT oheoh unS sa0 tes ,ha nUrnose 81
.ns tinr re- nrost or loss from xnch necnla,
ION viii not be allowed TO Affect the profit or los,
from hs reSular, business. : A buSiness1 arm
nIa.ad aIn6So~I An ,be hands ofsa Nav york hro
a. instrnctInp him 10 uyp II In the purchase aut
sai. ~ cold on their account. and having los,
n t"AN
shonIS Ia dsdncted from their profts in business
oommissIoner Lewis dIsallowed the claim, nnd
ala Tho ynifo,m ruling bad been that "vhep .
los q. mad. IN any particular business. agnInsI
which there are no gains TO Offset, Il IS consid
cred A dead loss Of capital inpested In that bust
ness" Again, "loss Of capital cannot DO dc
Quoted from income" Return Of income must
DO made on the gains"
4. How far different kinds Of business must be
returned separately Is shown by the following
rulings Of ConmlsslOner Rollins:
(a)-"Loss incurred In the prosecution OF one
business Of an entirely dDreHtcAaTdeteT, nor from
salary, rents, dlvidends. etc.'
R)-"Losses incurred In the prosecution OF one
branch OF business cannot DC deducted from gam
In another, since an absolute loss incurred In the
prosecution OF aslngie business IL indispensaoly
aloss Of capital
()-"Losses In merchandise can be deducted
only from gains In merchandise; but, In this case,
particular branches OF merchandise need not be
4 separated. SO In speculation, the loss or gain
from stocks may offset loss or gain from produce
Ipeculated In"
profits from merchandise without regard to their
fosses in speeulatiop, or gains from, interest, diyi
| dshds. rents, or any other source"
O@"Losses in speculation cannot be deducted
from salaries, nor from gains In merchandise
a.,ns No. in nnotber speculation. sueh loSse,
man he %sSuctsd from sucb gains Losses In ont
MhrencS ~ mrrcbandIse NAV be deducted from
Gains In any other branch Of merchandise"
san "He aWbara stonts ate ara honght as n per
Snsn, Invsstm,nt and sold again merely "a
I az ,nnastront a los snstaIrsd IN m,
SnHhso ~ I"sna,od 49, ~ d,niSands f,or
sa Jug Iay 10 pn, Hher. tha nrrcboss ia made n,
~. ,s. 49,. ~ ss,iIn. ars,p On snecn,atIon. IN,
INC PurPoseoi seiuns asnn ~ y W.
toss susis aanS ~ INC me- sI No Sadno,oS ~ S-om min,
rom o,viuenus, ou.n ny " uT ~ s%