Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1866-05-26
ABsrRACT OF THE ANNUAL INCOME TAI
HNNU1L o TAX.

H. -
Haying been re9I Ss iar " II P, sgsrsncs "a tbn In.
OF what Is requires ~ 1870. 10 ~. n.n.r
como Tax, and OF me oeciaons ~ ,n .,,ors ,hst
ment at Warrington uPon Vel,oIs 49,. go
have arisen, wc plesen. INC
Its several distinct neaas'
STATEMENT SHOULD BE DIVE "hAs'
O. AND BY WHOM.
l. The law requires every person oflaWrul rs,
residing In the United States, to render 70 me
Assistant Assessor ofthe sub-district In wnien nc
or, she may be residing on tho LIST Day Of hay,s
written statement, according 70 o presented
form, Of the amount Of his or her income, gains
and prohts during the previous year, from JAN
uary LIST TO December 3lst, both days inclusive.
printed blank containing this form can DO Cd
tainea rom the Assistant Assessor. A person
navinB no n1ed residenee, should make Q state
mentnnereyer ne or she may happen 70 Do; nno,
In case o. removal TO another district, Ihould taks
49, Sopy oi sueh statement to SHOW any
olust nses'aat hssessor, VINO otherwise might
ma y seeonu sssessmen.
:. ~ e.Asemen' must DO rendered on or De-
,or s- ,,tuts or nyUt.S n9;, Of within ten days after
u WFiten y, Ptin.eu no.ee requiring IL, has been
let AZ inc place oiIesdenee Or OF business, or dc.
posted IN tho psaresI Fost ofhee.
j. Tho annual income taf y q personal tax,
ana u cannot 90 assesseG asanst any corporation,
company, or partnership, as such. Every lndi.
yidual member must make . statement OF his or
her share OF or interest VIZ Gun. Sna Pfontso OF
sucn company, ets, "ne.Nes saSn sains ana
prons are uiYiuea or Ios, = H.un, a M s,ato
separately nn Vi Hei Hsoe "'" >" ouer
sources. 30 .vv orr nm vvo,,x
EVILS OF SEoLEcI ~ mAkh ooi 'LAi'i
q D. III any person neglecs OF reiuses W Ienaeta
written statement, the Assistant assessor u rS'
quested TO nl out O oiank witn sucn Pstsonh
name, and taxable income estimated sccoroins. 70
tho best thai can DO ootNnea' anu
upon TINS income 10 S'ssss sns ,u., si ny
tnen 10 auu 20 per cent, 10 sucn TAX Pouo'5
for neglect or refusal
o;,An ASSISTANT ASSESSOR may % miseom
maklns snls ESTIMATES oy 1eins
na,d 1870, y. y h,m.w.- oo.o,dIns ~ ~,
paio. ne musl asses, however, nee0tuing
oesl IotnaIi WITHIN MI reIcn. ING onty per
son capable OF giving aosoluteiy eorIecI inIo,mh.
~, mVI msta S s,a,rr aIv oH =, .u.S n..sor ILL.,, nnt
. msAe . n,a.enent. suea gelson VII no'
take the trouble to inform tho Assistant Assessor
tneIe nao ar = W 'npiaip snoua = ssssss,
ment prove incorreci, ana Q heavier TAX pc LEVIED
tnan woula otner"tse % enAIgeo noIeoYeI'
aiter an assesslnent nas oneo oeen msae, u eIIo'
neous, !. III aI"ays uouoiesomS 70 Ine pal,y n'
terestea 10 nave y eor!ected. All penons. mere
lore, out etPeGta"y JUG O. HaceN9 to1ooN tNeoms'
should not fail TO render the required statement
upon the proper Diank' 30 al 70 AVOID undue tax
anon ano trouble
= Every statement nust % yclinca " oasno.
enrMdsIon. mnen ~ u y uonu, q ~
Assessor u iequnsa 20 sn'' 4 iu0'm' ""u
Evils oI MAkino IALsE $4,000.
y. An Assistant Assessor nas power 70 sHe4eass
the amount In any stAtemen., aIse, sinLns eue
70 tne patty inte,es.eo; ny
quirsd, aiso. 70 aad !oo Per cent 20 .Se 'sn ,sa
U Iuse s.asNeuuIns = 49, II.his
pa,'y Msk IN tIe a All ,sS nv. iIS.sIss ~
not Snay = Ii u.inn.h atosa ~ Sint,.S, s,s,s.
swou ls'ues ~. La H.
Sows : S.SaU ~ ~. Go,.-nnsn, .nJ ,hs o,bsr
sM Nv nsr,r-v
~ N..Srs ~ x.vrsa rp STATEMENT or INCOME.
%1 NJ, Il. Ite,h ..s,ton ~ ~. iaE ,hs CommI..
by 'ne tLo.n seg,IonO. = Nv, = ~ -
honer OF IntelnAh revenue 10 emP1Tel ~
scribe me yorm ana maAna u mnic mt Lne !. .'h hs-
ment OF income must % msae W. a.
done IN aPInteo DiAhk usea ~ INC A,G.' ~ "a
SCISSOR, and In VARIOUS circulars and rulings inc
following Is a summary y OF what mas been pre-
scrioea:
Eaen OF the great classes INTO whlcn we pur'
suits OF lie and INC investments OF eapitai nave
In one not being allowed TO Offset gains In another.
Thus q merchant who engages In farming or IN
speculations not belonging TO his legitimate bust
ness cannot offset gains In the one oy ios'es In
the other. . s.g.
Q The expenses incident TO each business are
deductible from tho receipts OF that business.
3. Speculations kgtnMdttly belonging TO any
business, and these alone. may DO carried into Its
profit and loss account. Thus q broker may spec.
ulate in stocks, a dry goods merchant in cotton, q
hardware man In iron, ETC.. and such speculation
NAV affect the gain and loss Of such legitimate
business. A merchant also may make or lose by
exchange or the kind Of money paid for bis mer.
chandise, and this gain or loss belongs 10 bis mer.
chandise account. But II be buys gold, uncurrent
money, United States Treasury notes, or any
other thing mot ono Of the articles Of trade belong.
inc 10 hs regular business, for the purpose Of
REGULATION, the profit or loss from such Ipecula.
tion viii not be allowed to affect the profit or loss
from hs reoular buSIness A bnsIn.ss Arm
A. ~ = 80 -.
Eer. instructing him 10 use II in the purchase and
sale OF gold, on their account and having lost
s27, 500 In this venture, they claimed that Il
should DO deducted from their profits In business.
Commissioner Lewis dlsallowed the claim, and
said the uniform ruling had been that " v hen n
loss IL made In any particular business, against
which there are no gains to Offset, IL IL consid.
cred O dead loss of capital inresed in that busi-
ness" Again, "loss Of capital cannot be de.
Quoted from income" Return Of income must
4. How far different kinds Of business must DO
returned separately l. shown by the following
(al-"Loss incurred In the prosecution Of one
kind Of business cannot be deducted from gain In
business OF an sntfrely, dUtrenteharaeter. nor from
salary, rents, dividends, etc
W-"Losses incurred In tue prosecution OF one
branch OF business cannot De deducted from gain
In anotner' SINCE an aosoiuto Ioss incurred IN inc
prosecution Of q single business In indispen'aoly
anus
o. Losses IN merenanabe can DC ueducted
only from gains N mefenanolse put IN tnis case,
particular orsnehes OF mersnanaise need NOT pc
sep@a.eo, 50 IN sPeeuiAton, .he !oss or gam
rom ssosS' may on''' LOSE f gum IRON p''uueo
sPeSuia.eS r,r., n,L , .,..
G-IMeicnan.s mus msse return o. ,ne,r
pronss = ~ co,r. TO-, 1850 MI
ossss ~ san n,rn.n WV
aenSs, ren.s, "s \, w. :,ocria,Ion csnno, ho d.dr...a
W- Losses spesS.A ~
m1m saiailes, . u sn1s .aniS.iaon si
mnen losss' ~ !" .no.hs. sna.Ui",nr s,nh ias...
gains nsue ~ sIosIe. suas " .,
may DC aeoueteI tlom susn sans LSssos ~ one
orancn Oh me,ehauuisc msy w ueuIe'ee f"n'
gains N any otnei pIaneno u ueLsnaruse.
o. mnele s.ochs, e.c., y oousn. a. : pr.
manent ihSestmenI, anu soia HSa.n mst9Iy 70
cnanse me inves.me1', : io.s Iu ~ ~ :
saie may 20 SeaaS.eu uom = Sna
saeA ,socn: ~ ..iiInr .as,p an snecn,s,Ion' ,Ss
jug pn,possS hv ~ a. esn,ot Ss ssdnstsSS
nom ~ SIvissnS,. but NAV be- deducted from rsIns
Hsrsxsd from ths pu,eka,s anI sa. IN ,tock' etc
In the same year"
INCOME FROM Rents OF ~puiLDlNes
From the total amount Of sucn fenu received
within the year Tor which income % estimated: or
due and coliectsoie on tne olst Gay OF December
ofsaid year, should DO deducted:
LIST. The amount paid or due, by the owner, for