Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1866-05-05
ABSTRACT OF rHR ANNUAL INCOME FAX
o INCOME TAx.

have arisen, We present tne Wnolo subject, under
It's several distinct heads:
STATEMENT SHOULD BE AADE-wHERE, WHEN,
- - g-i AND BY WHOM. any.gE
l. The law requires every person oflawful age,
residing In the United States, to render TO the
Assistant Assessor Of the Iub.district In which he
or she may be residing on the LIST day OF May, q
written statement, according to a prescribed
form, Of the amount Of his or her income, gains
and profits during the previous year, from Jan.
uary lst TO December 3lst, both days inclusive.
A printed blank containing this form can be %.
tanned from the Assistant Assessor. A person
having NO fixed residence, should mako q state
msnt wherever he or she may happen TO Do; and,
In case ofremoval to another district, should take
q certified COPY Of such statement. TO show any
other Assistant Assessor, who otnerwise might
make q second assessment.
9, The statement must be rendered on or Do
fore the 1st day OF May, or within ten days after
q written or printed notice requiring II, has been
left at the place ofresidence or OF business, or de-
posted in the pearest Post Office. g..g
g.. The annual income tax Is q personal tax,
and II cannot be assessed against any corporation,
company, or partnership, as such. Every lndi.
yldual member must make . statement Of his or
her share Of or interest In the gains and PROFITS OF
such company, etc, whether such gains and
profits arc divided or not, and must also state
separately bis or her income from all other
Evils or NEGLECT TO MAKE OUT OR VERIFY
STATEMENTS.
s. II any person neglects or refuses to render q
written statement, the Assistant Assessor 10 re-
auested to all out u blank with such persons
name, and taxable income estimated according to
the best information that can be obtained, and
upon this estimated income 20 assess the tax, and
then to add 25 per cent, to such tax a. o penalty
for neglect or refusal.
q. An Assistant Assessor may DO misled In
making this estimate, by beIng rnlSinformed as TO
money received, or not informed as TO money
paid. He must assess, however. according to the
best information within bis reach. The only per.
son capable Of giving absolutely correct informa.
ton Is frequently tho one who refuses or neglects
to make Q statement. II such person will not
take the trouble to inform the Assistant Assessor,
there is o bar to all complaint, should the assess.
ment prove incorrect, and Q heavier tax be levied
than would otherwise DO charged. Moreover,
after an assessment has once been made. II erro
ncuus, Il IL always troublesome to the party In.
terosted TO have II corrected. All persons, thsre.
fore, but especially suek a. hapt no taxable fHeows,
should not fall to render the required statement,
upon the proper blank, 30 o. 10 avoid undue tax
alton and trouble.
7. Every statement must be verified by oath or
affirmation. When this Is not done, the Assistant
Assessor 10 required to estimate tho income and
TO add Is per cont to TO the tar. -,
EVILS OF MAKING 4 FALSE STATEMENT.
Q. An Assistant Assessor has power to iaeysass
the amount In any statement, after giving due
information to the party interested. He Il 70.
quired, also, TO odd 100 per cent. TO the tax when
o false statement has been rendered ; and the
party making tho falte statement becomes Liable,
not Shly ioI .nn nns VA. NV wc,.so.o
Soa.sNnSs 1870 AZ. = sS,s -.
SS. ~ .Sa nos.m%sn, LA ,h. o,h.r
for perjury. ...r- Old. .s.. ...- -.. ... e..
"4ns.n yIo,h sao,,a, IL. is- an cnmmI.
- y go p.v.nr.I Z. .nnHs ~ NJ,
hIoneI VI tuto'Ne4 -rI"h hSp
se1lpo ZIG Vt" saa 1890" ThI. -. ne,
mentor ine1mo = ~ nas. *. .s S A.
done 10 = printer oisnH useH " ~ Mn. M.
SCISSOR, anu IN rarlou. eneuaI = iuAIsH -.
following Is summary OF "nA' nAs peeh Pi'
sc,'oSu: .,.. Into ,vh,cb IN. nur
= hssn N ~ Z s ~" ,S..,n.n,s ~ cani,sI nav,
sults nt ~ uI tHS Sa ,s,nrnad ,sn,rot,isA ,os,s
oeen alsiasu nus ~ ~, IT, IN nnothsr
NJ. m.scban, rbo enosges in farming or 1,
nus 10, : ", = n,.s 90 III ,aes,Inas. hpsi
sPeeuuinaNnH a. notns 10 ,b. ons Nv Ios,s. /,
nesS eInn'' oN''' s"N' ' =
inc Ssnei. ,,.,a.r, n .a.b bu,,p.., ar,
espenSSn ,n : ~. No. hnsSn.ss "
oe Observation-Disclosures Le;,JIa,,S. hsioroInS 70 an,
Sn.s and th.,, Slonr' nav he carried into II,
ouusssen s In n.. asoo,n, Thn:s hro[sr nav snsc
ppists in stocis, q dry goods merchant in cotton, {
go IN jyon e,c ana ,,,r6 ,neculatIor
nnu e., ,ho 1oin and H., N sush IegitlInat,
hh,,"y,.ss msychant ALSO NAV make or Iohs by
business a moIensn MY ny niS a. ~ ~
e1cnsnto = III IT. 4. 49, -. % IT. msr
chanaise, NV 'u' s Pn, ~ ne NM. sn15 mncnrrsn,
cnanalse neIoua' Ou,ss ~ anv
n,Sas t,ne moi ons Of The %artjeir, Of trSds belong.
v'He. -ssni-. hn.Sa.s. a. an n,rno.. y,
Ing 10 ms regular ouslness' y \ PutPoseo
speculation, the pIoht OF loss Irom huen specIiH
ton Will not be alowea. 20 anectt the prom or aosl
nom ~ ~ I oSc ~ NJ h.rS. W. Vn,L hro
placed x1o,vov ~ = w" NJ ~
ker, nStrneuns nm 70 use ~ u. 'ne Ppiens
sale OF gold, on then account Sno having ios
S2',SVo IN lnis Ss1sule, .Iey S anu \. ,.a,n..s
Lnouu W oeuuS.eu ~ ..inL.S IN .,stn a.,
C9mniisslonet lev az. -
sa,a .ne msgg ~ anu nn,tIcn,ar h,sins., a1nIn,
loss ,hae. a.. NO psInS 70 os.sf- n !. cSnsid
wnien ,neiG Me ~ sS.S 1890 H., ~;
essaS Aaosn "ioss Of canitai cannot 10 IA
hess. AsHn, 30 sSp Ia.or -.
auc'eu rom ,ueonn 1n ' ""
De mace on me SSsn,' ,,nd, =, h,s,rs.. mr,, h,
:. now tI uinetens HnusoA ~ ~ 49,,
returned sepsrs.eiy pouI. y ~ NV
rulings OF oommisslone !, -. n.o,,,or of an,
Cdl-"Lom incurrsu VIC n,sS S.onn ea,n q,
business OF an Sntrey nynent a'' nut IN"
salary, rents, dividenas, etc:
= Losses ineulIea ~ us,Sd IN, ~,
1raaeh OF ousness ah1oino ~. ,ner-rod n ~,
IN another, ~ = : .1n,Is SnstnsS, "a indisnenrably
PiVseeusOh
loss o. eapl.a' T. o.-,b,rd,., con h, deducted
Losaes ~ = Ms-chondIse. INT IN tbIs cas-
only IRON sa.u. y rs-eh,na,ss nasd No, 4,
particular Sn rs .u..niaion ,hc io.s ~ e.Ir
sepnrateu. - a. ,s,n trom nroSn..
from ssoeS' may
'pfeSSuMM.W. must make return Of thai,
rroS,v from uoerchandise without regard to thel,
t"ssas n ,nsculstion. or oaIns from interost, diyi
S.nS. r.nts, or nny Other ,ource."
Los,es In speculation cannot be deductct
from salaries, nor from gains in merchandise
! when losscs are sustained In ono speculation ant
gains made in another speculation, such losSel
NAV be deducted from such gains Losses In ont
branch OF merchandise NAV be deducted from
Gains IN any other branch Of merchandise,"
on-nWhere stoeka, etc. are bourht a a DER
msn.pt inyestment, and sold aVain merely e
ebanre the ipyestment, o loss Iustalned In ID,
Saje NAV DO deducted from the dividends from
,uck stock. But where the purchase IL made fol
nc purpose Of selling again on speculstIon, th,
loss ruItained by the sale cannot be deducted
nom dIyIdends. but may be deducted fsem gsInI
derived from the puYekdis and sale Of stock etc,
In the same year." ~ ,.yg.. s......aa5 r.H .
w nsG% y, ise v ,ssn a. a ,TSieb II tns suss Il I' e,,,mSsed. .
oae ana cons .So~iS On On d.Sro,. s cA'
oi,.so LSeiIs -. q,