Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1866-08-25
ABSTRACT oP THE ANNUAL INCOME TAX
-HNNUaL INCOME TAX.

Having been requested TO prepare an hos'i1e'
OF what Is required by law In references . .ne -
come Tax, anu ot lno y ,as,Iops that
ment at Washington upon various guesuonS snd"r
have arisen. we pIesen, tue "no'o su'9''
Its several distinct neAuh
SHOULD BIZ hADE-'"hLnh' ""A'
. AND hi Mhon. ...
!. The law requires every person VI W. e.
residing In the united STATES, 70 rcnueI ~ nv ho
Assistant Assessor OF the Suo.uistI.e. IN NJ Wa.
or she may DC resians on ,no - = o-Hbd
written statement, ~ u ra,ns
form, OF the amount Oh LIE VI Q nNVrLo b.
6nd profits during the previous year, from .
nary LIST to December oiStp JUN my LnnS
A printed blank containing .nls 800.
tanned from the Assistant hssessor. n pe,son
having no nxed resluencc, snvu,u n" "a
ment wherever ne or sue may napPcn y ~ nv,
In case OF removal to announcer dls.rict, sn1u,a 'aNo
n certified copy OF such s'atemen, w nnO" ~
other Assistant Assessor, WIN 'nef"'0 "e"'
make u second assessmehI
9. The statement must Dc rendered on y ~.
fore the LIST day OF May, OF WITHIN zen Jay w
a written or printed notice requiring ~ hha peeh
left al. the place OF residence OF OF Dusiness' uc'
posted In tho pearest Post once.
3. The annual income tax IN u PERSONA taA'
and 1t cannot BIO assessed against any Gorpora!rom'
company, or partnership, ss such' Every hur
yidual 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.
8. II any person neglects or refuses to render a
written statement, the Assistant Assessor IL re-
ouested to fll out a blank with such persons
name. and taxable income estimated according to
,he heat inflammation that can be obtained, and
mon tbis Estimated income 10 assess the tax, and
then TO add o5 per cent, TO such tax TN u penalty
for neglect or refusal.
a kn Assistant Assessor may be misled in
making thIs estimate. by being mislnformed IN TO
money received, or not informed az 10 money
maid He must assess, however, according to the
hsst information within his reach. The only per.
son canabIe Of giving absolutely correct informa.
81 H., Ia rranron, ~ ,be one who refuses or neglects
" mata ! s,atement II such person will not
IL g. Inrorrn a. A s.Istnnt Assessor.
take the trouble 70 INFORM Ihc s.s' ~ ossoSs
there IN u ohr 10 .ouIp'"An. IL So n. ioyJod
menl prove incorIecS ~ -" Nor.oyor
than would other"ise oe enMse". ~ ~ .rra
after an "ssessnncna ~ nonrIasowe 70 The marty in.
neous, !" ua !; corroc,nd Ali nersons, there.
seas nv, s,ns.;,Iu ,ur6 a, hare no ta1abie income,
Sto, SaI ~ yanJar ,ba rcnuIrad abatement.
snouia not Iai W hinnI ~ =. ~ svo,d pndn. tax.
upon tne plopIr c'"hN'
alton ana trouble. ..Ia.s l., o,,b - =
T. Every suten'ent ~ 49, ~ ssIs,ar,
qDrHd1ton' Nheh thiS npt uonu, ~ n""
Assessor ~ required 10 es'inla'o ID ""'o" CIV"
TO add % per cent. 10 IRine YAK.
EVILS OF MAKING FALSE lAlhnhSL.
y. An Assistant Assessor nus Pomef Iss
the amount In any staseihcnt, at'e, sn"s uu'
10 the PSr.y y ,ho az, Sbsn
qulred, also, 10 adu loO per cent U ~ u ~
u false statement HAS oeeh renueieu III ~
party making tue thlse stateineht oecomes lnoie,
not only lot TINS additIohai YAK, out g."
TWO ois'ihct Prosesuitons So ~ ~ !, ,,i,b In
Courts-ono . m mA a'n nnd ,b. o,bar
IbnL IO utIHuu lut lAlIl AZ hAN ehhNA
Tor perjury.
MANNER OF aAklNo Ur IhlhnLN Ean
by the llcth section VI 'ne ia" 'hc on"n
sioner Of Internal Revenue is empowereu 10 pre-
scribe the Jorm ana mdnHeT IN when the w nv
ment OF income must DC nsae up. I"
done In u printed blank USED Dy tue ASsisIah' Hs-
SCISSOR, and In various circulars anu luipBS, lme
toIowing IN summary :" "n"' !" JUG" p'''
scI'oSa: ,s,.. into (which ,b. MIR.
=: hasu " ~ u s ~ Inras,msn,s oF cani,aI bnv.
h ha.n S,y,dcJ must he returned ,,parafsIv- losses
IN on NOT heinc allowed TO offs,t caIns In another.
in N"ns So, - c,no 20 bis ,sgi,imnt. busi.
sPeeutn,no.' ~ aoIns !, ,ha oms hy Io.sss In
ness Cannot ohSe' ba'"' " '"' y "' '
the o.ner. h,.t,.. -.
tuue "n n".aIn,. ~ an, hr.Jn.ss
aeaustoie nv ,.S6ir s,.Gn h.Iorsjna 10 .nv
D. opo'S - e.. 80, D. oasriad into ~
ouna, - I nns. aooorn, Irbn: hrot.r NAV snec.
Pa o In 'S,oc[s n drv goods m.rchant In cotton, a
bardwar. man In iron, etc. and ,uch speculation
NAV affect the 1aiu and loss of such Legitimate
may aae'' ."U ch"rt also nav maLe or lose Inv
oushana. a. ,ba Mind Of money maid for bs mer.
- - 1T - o. Ioss haIon,, a. hs mer.
shanJtso aono,r, Rn, n hs Inv. cold uncurrent
u,nnax iTnItcd states treasury notes. or any
n,Sas,h,na not ono m the article; NJ trade belong.
otner th,ns not y " u " ss ~ 49, %
ins ~ Ms ~ nSoa, 81 Ioss from inch .pecnln.
sPeeulnmnTton, u LhS :, 90 a., ,ha nroa, mr. Ioss
w. hn.n.., hr.In.s. Irm
- SIn m In The hands of a New York bro.
tar jnstrrrtInu him 10 use II in the purchase and
saI. ~ cold on their account and having lost
so7 5Oo In This venture. thew claimed that II
sho,Id ha Abducted from their protit. in business.
Somm,ssIonsr LAWS dIsallowed the claim, and
LA tha rn;for,n ruIinp had been that "vhen n
- l., mad. In any particular business, against
Which there are no gains 10 Offset, IL is consid.
| cred a dead loss of capital Invested In that bRsi.
MS" Again, loss of capital cannot be de.
| dpcted from income Return of income must
he made an The gains"
a How far different kind. of business must be
r.,nrned separately IL shown by the following
| rulings Of Commissioner Rollins:
| Ga)-"Loss incurred In the prosecution of one
Lind Of business cannot be deducted from gain in
| bushes of an entirely digerenteharaeter nor from
| salary, rents, dividends, etc"
6)-"Losses incurred In the prosecution Of one
| branch Of business cannot be deducted from gain
| In another, since an absolute loss incurred in the
| prosecution Of a single business Is indispensably
a loss Of capital" .
| (0-"Losses In merchandise can DO deducted
| only from gains in merchandise but, In this case,
| particular branches Of merchandise need not be
| separated. So In speculation, the loss or gain
from stocks may offset loss or gain from produce
| speculated in"
nrosts from merchandisc without regard TO their
losses in speculation, or gains from interest. divi.
| dends. rents, or any other source"