Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1866-08-02
OF ,THR AANuAL INCOME EA1
ANNNALIMCOMERT TAX.

NNOOH
- ,-.n.-o an abstract
Having been Iequessea 70 PlSEs.e ~ AZ In.
Of Whist y uffe w ~ ~ reisson Il. nsnart.
come Tax, an9 =. ~ .a.n,s 1r.ssons that
ment at Warrington upYn var,oIs quesA.H .nd
have arisen, We
~ JeyerN ,
STATEMENT SHOULD BE anDL-"hhhh' "hh''
n BIZ WY
!. Tho law requires evefy person on lawful age,
residing In the United states, 70 render 70 inc
Assistant Assessor OF the suo-oistrctm wnicn ne
or she may BE- residing on inc lst day OF Nay, 9
written statement, ACCORDING 10 . prescri1ed
form, Of tho amount ofynisor ner income, gains
knd proAts during me. previous year. irom jan
'uary LIST TO December oisI, SI.h aays lnciuAiVe'
A printed blank containing tnls 10TH can DC oo'
tanned from the, Atsstant AssesSor: person
havingn no nxed resioence, snoulo MAKE u state
ment wherever ne OF sne may nappen 20 90 and,
IN case V enotnet olstnet, snoulo take
o certified copy OF sucn s'aIemen, 70 snow any
other Assistant AtneAAo,, VINO otnerFiso might
mako second ssessmenI
2. The statement must pc rendered on or Pc
fore the 1St day OF May, or WITHIN ten Gays aiter
o written or printed notce requiring II, mas been
LEFT Of the placeiof residence % otpusinesS' or de-
3. The annual income tax Is q personal tax
and Il cannot 30 assessed against any eorporanon'
viduall member must make statcmen Of bis or
her share OF or Interest In the gains and prohts OF
such company etc, Wnetner. sucn gains anu
profits are divided or NOT and must also staIe
separately his or her income from all DINER
sources.
EVILS OF L TO MAKE OUT Oh VERiff
STATEMENTS.
S IL any person neglects! or refuses 10 renaeEA
written statement, the Assistant ASSESSOR IL TO-
quested to ill out a blank with sueh persons
name, and taxable income estimated accofoinB 70
the best information that can De ootained' ana
upon this estimated income 70 assess lne VA, Hnu
then 70 add IS per cent iosuch la1S penasy
Tor negiect OF reiusa- ILL, In
6. An Assistant Assessor may De mlsled IN
making this estimate, bypeing misiniormed al 70
money received, or not informed a. 70 money
paid He must assess, however, according TO the
best information within his reach. The only per-
son capable Of giving absolutely correct lnforma.
ton IL frequently the one who refuses or neglects
to make d statement. II such person VIII not
take the trouble TO inform the Assistant Assessor,
ther, Ia n bar 10 ali complaint, should the assess.
mani proye Incorrect, and a heavier tax be levied
than would otherwise be charged. Moreover,
inter an assessmenthas once been made, II erro
neons. II Is always troublesometo the party In.
terested 10 have Il corrected. All persons, there.
fore, but e.peeielysse a. AaUeHo TAXABLE income,
should not fall to render the required statement,
80 ths nronsr hiank- 40 as 10 avoid undue tax.
otifon and tronbla1 80
S Ev.rH Statemsnt must be verified by oath or
oS.nation when this d mot done, the Assistant
vas.or 4. rsnujred 10 .stImatn Inc income and
~ IA q mar cant 10 10 he tax.
" wi or MIxIyo A FALSE STATEMENT.
q A. SsSistant Assessor mas mower 10 increase
en- amonnt in any statement. after giving due
Information to the party Interested. He Is re.
nnirsd. .Iso. 10 add loo per cent, to the tax when
y tSsa s,o,smsnt has bsen rendered and the
nar,x mailing the false statement becomes liable,
par ,rin 10 ,Sis addItional lar. but likewise 10
~. ~ Sis;Inct nrosecntIons before Tho limited States
Ccvr,s"onsf or maklnp afalSe statement with in.
~. 80 SaCrand ,be GovsTnment and tho other
for perjury.
~ psya .v,Sa up sr,rrNrsr nv IyconE
1890 M n. I,s.h s.st,on n the Inv. The CommIs.
pylne 1Lotn a. nr.
noner OF MsernN iesenuon ISJuh ,ha s,p,s
scribe the Jerm ana mahne, mn'T Thi. =. ho,
ment OF income m mnn 70 usnS hv *. AssIs,ant Az
done In . prin.ea miami ~ ~ mS rnIinns m,
sansor, anu !" srwmsry ~ vhnt has be.n pre
following u aSuninJ" -" ~
.-.o, ,,..s.. into 1sh,ch IN. pur
L Eaen OF tns ssea. Saass msnts ~ ranI,ai INV
W. SIvidsd mnst bs returned ,sparotslv- losse
1eon ~, S.ins o,iowsS n Mat Pains in another
In one NOT oe,ns ailImeu - tarmina ~ 4
lnpa nas ~ ~ rJns ~ M ,agItJmria ms
specuIAlons y aoias ~ N. ona hv Iossss h
ness canno' ohSo' s""' ~ "'
inc orhe ,,c,dan, IN sacb busines, r
deduc,Ible from he receipts Of that business.
S Snscriations LoitimatsIv belonging 70 nm,
= and these Alone may be carried into Ii
ouaa.aDd Ioss account THUS n broker NAV spec
rpiS,. IN stocIs n dry goods merchant In cotton,
hardware man In iron, etc, and sue4 speculation
.nav afsct the oain and loss Of sucA ~legitInat
h"y A msrcbant also may make or lose b.
oustne 49, SJnd ~ money Maid FOR his mei
oScusnSe0 ri aa,n ~ Inss hsIores "a hIs mei
cnanaise, ana.nS s pn, N h o Inv. ro1d nrcnrrrn
cnSnS'e upitsd States Treasury notes, or an,
m1noyi H. ~, ons ~ the article. of trads belopG
otnet tnsns nos sisp hnsinsss sor ths purpoSp :
i Ing 10 MI 9IOSuAhHt hhAhcss y tHe 49,"
.peculanon, INC How.S,a 90, ,hs nrost or Ia,
uon WI usov,ar hnsnsss bn.incss Ar,
rom ms [esun SuShn ~ YnrL h.,
plaesoa o1sylD h,,, a. No. !, i, ~ nrrcbase an
keL,arsst \ ~ ,hs,s account and having 10,
ssss soo IN thJs venture. thew claimed that
shsr,d ne deducted from their profits in business
Sowrts.Ionsr Is,i, disallowed tho claim, an
ss,a The Xniform ruling had been that "vhen
,au "a. In any pnYfIeular busIpess, again
,nhIch thsre are no gains 10 Offset, II Is consC
srrd 4 Dad loss of capital invested IN thar bEs
nsss" Again, "loss of capital cannot be d
Suc,ed from income" Return Of income mui
bs msdn on the rains." '''a N''7'N Ht'.'
4. How far different kinds Of business must b
r,tnrned separately, Ii. shown by the, followin
rulings Of Comnisdoner Rollins:
(a)-"Loss incurred In the prosecution OF on
, Kind OF business cannot be deducted from gain
bustness'of On sntfrety. ditt-eNfe AdraeeT nor no
3 salary, rentS, dividends, etc.
|. 0)E"Losses incurred In the prosecution Of 81
branch Of business cannot be deducted from go
, | In another, since On absolute loss incurred In u
. prosecution Of a single business " indispensabl
!. aloss of capital"
H(-"Losses In merchandise can DC aeauct
I particular branches Of imsrchandse peod not
. separated. s. In speculation, the loss or ga
from stocks may Offset loss or gain from produ
speeuiated IN" a.,
, NI- hns.shsnSI -ithout regard 10 ths