Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1866-05-11
ABSTRACT OF THE ANNUAL Ncoyy ~
ANNUAL INCOME TAX

N lNOOmE TAX. |
Having been requested TO prepare an sb,,r,s,
OF what Is required by law In reference TO the In. |
come Tar, and of the decisions by the Depart.
ment at Washington upon various questions that
have arisen, we present the whole subject, under
Its several distinct heads: .H
STATEMENT MOULD Be AADE-wHERE, wHES,
AND by WHOM. s
i. Tho law requires every person Of lawful age,
residing In the United States, to render, to the
Assistant ASSESSOR o fthe sub.dIstrict In which no
or she may be reiiding on the LIST day Of Nay, o
written statement, according TO q prescribed
form, Of the amount Of bis or her income, gains
and profits during the previous year, from Jan.
uary LIST TO December ,3lst, both days inclusive.
A printed blank containing this form can DO OBJ
tained from the AssLtant ASSESSOR. A person
having no fxed residence, should make q state.
ment wherever he or she may happen to be; and,
In case Of removal to another district, should take
O certified copy Of such statement, to show any
other Assistant Assessor, who otherwise might
make d 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 Il, has been
len at the place Of residence or Of business, or de-
posted In the pearest Post Office.
3. Tho annual income tax Is Q personal tax,
and II cannot be assessed against any corporation,
company, or paftnershlp, as such. Every indl.
vidual member must make q statement Of his 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 his or her income from all other
sources.
EVILS OF NEGLECT TO MAKE OUT OR vERIFY
STATEMENTS. Ea-
S. II any person neglects or refuses to render q
written statement, the Assistant Assessor In 70.
quested to fill out q blank with such persons
name, and taxable income estimated 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 rs q penalty
for neglect or refusal.
@. An Assistant Assessor may be misfed. In
making this estimate, by being misinformed as to
money received, or not informed AZ 10 money
paid. He must assess, however, according to the
best information within his reach. The only per.
son capable Of giving absolutely correct informa.
to make q statement. II such person will not
take the trouble TO Inform the Assistant Assessor,
thoro Ia q bar to all complaint, should the assess.
ment prove incorrect, and O heavier tax be levied
than would otherwise DO charged. Moreover,
after an assessment hos once been made, II erro
neouS II IL always troublesome to the party in.
terested 10 have II corrected. All persons, there.
fore, but especially such a. haze no taxable income,
should not fail to render the required statement,
upon the proper blank. 80 as to avoid undue tax.
alton and trouble. r. .e .H
Z. Every statement must DO verified by oath or
V.s-ao - ".
IN ala OK nsre.n, ~ A. an. TO- ~ ""N
EVILS OF MAKING A FALSE STATEMENT.
8. An Assistant Assessor has power TO iHertase
Information 70 the nnrty Inter,s,sd He I. NJ.
| ouIred. also. 10 add iOO mar cent no the taY yhsn
a false statement mas been rendered and the
party making tho false statement becomes liable,
not only for this additional tax. but likewise TO
two distinct prosecutions before the United States
49,
tnnt 70 dsfrand ihs Goysrnmsnt and IN. n,hsr
Sor nsr,urv
xlNyIR ~ N.Yrya rp srLrrNryr ov ,scoNr
Nv the llsth section Of tbe Law. The Commits.
| ,Ionsr Of IntsrnaI Rsvsnps 4, smnovsr.d N nre.
scyh. tbs Iorm and ,ronn,r IN yrb,sh IN, Statc.
n.n, ~ irSorn. nr., n. rnaa. nm TINT n. ha.
dnna In . nrjntsd hi.nt rsad hv *. A..Is,snt A..
-. ~ a., waro,. .,r.rI.s ~ sritar. ,rha
soi"nn - ~ ~ -, ~ hss nv
NoIS"o W." 0"A PS
ic,'oee:
l. Eacn OF tne great CLASSES lnto Tnicn tne puI.
suits OF iiie ana inc investments Of eapitai nave
oeen aIvlaea mus. 70 Ie.ulleu sepa'aIe1y- iosse
IN one NOT oeing aIomed 70 onset gains IN anotner.
Inus = merenhnt Tno engages ~ iaimins or IN
speeulaHons NOT belonging 70 Ms legltlmaIo Dust
essennno' onse' sanS Ia 'uo ole W 'os'es AL
tne UIner. -
80 nN.N L ~ .hs, hv.in.ss "''
uo Sao"t.n. J.ss,sPss.I. S.Isnri.n e. .,x
'NSs."."y peio o = w. ~
l - l.. -. 80 49, 80
p,on' ans ; AZ, = 4
snnS-a." 49, q n iyus ~. "a .,.S .ns.ris,ion
49, e., ~ 90, "a H.. ~ 80 fsei,Ims,s
my anes' \ 5Ssn snl 80 .os.au. ~
oussasss. ~ Lt.d - mny aiS ~ NJ y
eSeneuso sue Mouey yaHu " "
enn I'M snu w s pn, Wh so,s oo'ons na..-"n
sn IrSIosd s,a,Ss Tr Uu,s sU,u, y . nnn
mSuey as.,. aSIsSy 49,. S.Ieagy
otner tning NOT one Of ING atucies OF traoe oeiong;
ing 70 hs Iysu nne = 'no PuIpose y
speeu aIM y y ,no Ii o-. =, "S.s. ~ susn p Us.
son. ~. $500 hns,n.ss Sstn.ss arm
49, S.n On ~ ar h.n5 ~ W. ~.
Pnr In.,rrntIne him a. ms i, In ,hs nr,cbass snd
soI, - roiS 90 ,hsIr acconnt. and havIns LOTT
SST ,So In ,hjs vsntrrc ,hov cl.Im.d that II
shnn,J n. d.dnc,sd from ibrjr nroats In bn,In.s.
commiss,onsr Iewi. di,aliored the claim. and
ssId he ,nf6oru rniing had heen TINT {" when A
les 4. mas in anv nsytIcnlsr hnsines. araIn,t
~hIch thsrs arc no raIns 70 oa.st II :. consId.
80 . J,cI La,, NJ .anitoI inr,,,s6 In III, 6y,i.
80" Auajn. "ioss OF canitai cannot bo IA.
S,o,.d tom ircoms /" "Rstnr1 ~ jncom. INNS,
an.5. an a. a,Sn,n
a How far dItferent kinds Of busln-ss must he
returned separately II shown by the following
rulings OF Commissioner Rollins
~ ~ ~. ,rcurr.d In tba nros..r,,on NJ ana
@If h,",n.ss car~ot ha dsdns,sS S.oDo oa,n IN
800 49, re-
business OF an snsrsy agerente Adrdese' nor from
saiaSSy' ,snts, usn;
aauua !, w sne aSnss.s Snr, a vIo
oToHen " ousNhe'e NJ reuus'ou y 81
IN anotner, slneo an soso'uee ioss incurred N ,he
prosecution OF single ousihess IN inaispensao'y
aloss OF capital.
Losses In merchandise can De deducted
only from gains In mercnandisei out, In Ids case,
particular branches OF merenAnaise need not DC
separated. 80 In speculation, the loss or ghn
from stocks may onset loss or gam from produce
speeulated !; ,,
(dl-"Merchants must make return OF mel
pronts from meiensnalse Hitaout reealu 70 tncl'
ioSses In speculAtion, OF gam from INTEREST," d'f
denas, rens, or any osnss sU1 sS%n,, h. d.,r.,,d
NI- ~ "psssn - =. s".SssSs.
from salaries, nor rom gains m melcnanass
Mhen losses he su:,aneu IN one sPeealsnon sno
gans maaS u S1o en sRecains'n susn .os oa,
mhy 20 aeauSseI y susn az Losse. ~ ous
orancn OF mo,enunoiso msy DC utuuctea Iron
gains In any otner oIancn OF mo.cnandise.
%" Where SUCK, e,c., arc oougnt az = per
manenI msessmenI, ua 500 ssMn msrGly y
cnango tne inressmen', : io.s sustsIncd ~ .ne
sac may % 1eauIseaM om ,nS aiviaonas .S 1n
suea ssocs. o.. Tneesro = ~ = .r ~.
INC puiposo ~ sun ~ a ~ - speSuia,.Su, =
toss SntS.nI ~ sno ho Sa S ~ SSs0 rSto.
from a,snucnu.s oas nay 70 .uI'" noL 90
In the same year" gu.. .rH. .
lNcoaL iEoa kLsts oI suILDlHos
FROM inc to.at amour. = sucn rem. seseds =.
Mnnin tno ys.. = w ~ aIs,dSn ~ 1890,
',Ssoid var ,honid Se deduoted Nv