Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1866-09-24
ABSTRACT OF THE ANNUAL INCOME TAX
ANNUAL O TAX.

Having been requested to prepare an abstract
49, u IT, - 'equifed BY law In reference to the In |
Stn az, ana OF tho decisions by the Depart.
ment at Washington upon various question, Ina.
nave arisen, we present the whole snhisct urdsr
Its several distinct heads, 9'.' unuei
STATEMENT SHOULD BIZ MApE-wurpr yuyv
1890 AND By WHOM.
re.idj me IN aT ,be Enn,,ss svs.y person oflswfal age.
Assistant Assessor Of the sub.dlstr:ct In which he
or she may be residing on the LIST day Of Nav q
written statement, according to a prescribed
form, Of the amount Of his or her income. gain,
ind profits during the previous year, from Jan.
uary LIST to December 3lst, both days Inclusive.
A printed blank containing this form can be OBJ.
tanned from the Assistant Assessor. A person
having no axed residence, should make a state.
mcnt wherever he or she may happen to bo; and.
In case Of removal to another district, should take
a certified copy Of such statement. to show any
other Assistant Assessor, who otherwise might
make a second assessment
2. The statement must be rendered on or be-
fore the LIST day Of May, or within ten days after
q written or printed notice requiring 1t, has been
left at the place ofresidence or of business, or dc.
posted In the pearest Post Office.
3. The annual income tax Is O personal tax,
and 1t cannot be assessed against any corporation,
company, or partnership, a. such. Every indi.
vldual member must make a statement Of bis or
her share Of or interest In the gains and profits OF
such company, etc, whether such gains and
profits are divided or not, and must also state
separately bis OF her income from all other
sources.
EVILS OF NEGLECT TO MAK OUT OR VERIFY
STATEMENTS
5. II any person neglects or refuses to render u
written statement, the Assistant Assessor Ia re-.
quested to all out q blank with such persons
name, and taxable income stlmated according to
the best information that can be obtained, and
upon this estimated income to assess the tax, and
then to add 25 per cent, 10 such tax as q penalty
for neglect or refusal.
6. An Assistant Assessor may be misled In
making this estimate, by being misinformed as TO
money received, or not informed az to money
paid. He must assess, however, according TO tho
best information within his reach. The only per
son capable Of giving absolutely correct informa.
| ton Is frequently the one who refuses or neglects
TO make a statement. II such person will not
take the trouble to inform the Assistant Assessor,
there ID a bar to all complaint, should the assess.
ment prove incorrect, and q heavier tax be levied
than would otherwise be charged. Moreover,
| after an assessment has once been made, II erro
neUus, II Ia always troublesome to the party In.
terested TO have II corrected. All persons, there.
fore, but especially sueh az hdre no TAXABLE income,
should not fall to render the required statement,
| upon the proper blank, 30 as to avoid undue tax
| alton and troublef
7. Every statement must be verified by oath or
affirmation. When this Is not done, the Assistant
| Assessor il required to estimate the income and
10 add 25 per cent. 10 10 the taI.
q A. ass.,an, Issos.or nav novsr 10 ipr,,n,,
the amount In any statement, after giving due
| information to the party Interested. He Is re.
quired. also, 10 add 100 per cent. TO the tax when
= false statement has been rendered and the
p"'y me- ~. ~ aJSt,iaaai So b., iILs-iss, %
not guy y .ms AuI,.oha, .a.i ~ i,sS &C..
coU,n"nn ~ wsLina = Ssisa .,a,.Usn, Win in
49,, 20 S.sraud re Goxs-nmsn, and IN. other
TO- nsr,rrv
MisyrR 5y MAKING up STATEMENT OF I,coME.
pv m. IIa,h section Of the law the Commits.
.,on,r of Internal Revenue In empowered 10 prr.
.crIb. m, form and manney In which III, state.
mani NJ Incom, must he made nm. This h. ha,
Jonr in a printed blank used by The Assistant A..
Sds.or and in varou, cIrcuIars and rplIngs ,rh.
following il A summary of what has been pre-.
,cr,bed.
/ Each NJ the ursat classes into which the mr.
,r,,. Of IN and m. inysstments NJ canI,aI bay,
been divided must be returned ,tporattly- losse,
in one not being alloued TO offset gains In another.
thus q merchant who engages in farming or In
.nscnIaiions mot BELONGING 10 bis legitimate busI.
nr., cannot oa,et gains in the one by losses In
,bs othsr-
'n NC The :.rsss ,rc,d.n, N .scb bus,ne., ara
d.dr.,ihIs from m. recsInt, of that business
q. SpeculatIons ls1itfrsaeiy belonging TO any
business. and these alone. NAV be carried into lis
nrost and loss account. Thus A broker NAV spec.
ppio,. In S,ocks = drv goods mercbant IN cotton. n
harJwor. man In iron ate and ,ur6 specnlatlop
nov agsc, The cain and Lo,, NJ ,uch IeuitImat.
hn:rsss ms1cbant aIso NAV make ar lose bv
ushann. m ,hs tind of money naId Tor nj. mer.
eAeennaabS ~ ~. aatn - 80 49, 90 Nj. mar.
h h = anorn, Pn, n hs hrv. nn1S Mrc~rrsn,
a"nan iTni,ed State 1r.asnrv notas or any
o,bsr th,ne moi one Of The article; Of trads belong.
Sna 90 III reuulnr hn,insss for IN. nurno.e q,
ing 70 hs r ,Ss nros Tu ar Ios. rom iur 'n ,ncb u ,pscnl a,
II ~ " VI W lOh boNA uRNNttt