Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1866-06-27
ABSTRACT op THE ANNUAL INCOME TAX
1ANN11L INC0MR TAX.

o.. . ANN OAA
-
Having been requested TO prepare ~ hostl1e'
Of what Il required BY law In references 70 suotu
come Tar, and Of the sdecisiops oy the DePsIt
meut at washington upon various questions mat
hays arisep, We present the whole subject, under
NJ savayal distinct headu y ~ ta
.yor, n ar MIDr-.wHERf. WHEN,
Hssn nv WHOM.
L.. .v.ry n.r.on Of lavf ul age,
t;tne tI.,.sS 49, 20 rsnd.r 10 the
TAaS ass..sor ~ ths .nb.dI,trict IN which he
a. ~. nav ~ rssbdinr on Inc I'M day Of May, q
wri,,.n :tai.mant. According 10 a prescribed
so,m =, m. sn,onnt m hi, ar her income, gains
md n,osts DARING ihs preyIous wear, from Jan.
naSy I'M 10 Decsmbrr 5ist. DO hdays Inclusive.
n,in,ad Mat eontaInjng thIs form can be oh.
taInsd nom m, Ar,istunt A.se,xor. A person
havin, M a,.d rssidsnca vhouId make a state.
nrShs 80 hann.r M he. snd.
IN na.c 81 ram Al 70 snothsy dIsiIiet. should take
4 errtIi,d ,cony On such Etatement 10 show any
other AssIstant As,essor. Who otherwise might
make a .econd asse.smept 'T,-
Q, The statement must be rendered on or DO.
fore the LAT dav On Nav, or within ten days after
q written or printed notice recurring II, has been
len at the place Of residence or Of business, or do.
posIted In the pesrest Post Once
3. Tho annual income tax Is q personal tax,
and IL cannot be assessed againstany corporation,
company, or partnershIp, az such Every lndi.
yIdual member must make a statement OF bis or
u MQAIG 10 Il N ItI II InO RhlUH AuU TOukI OI
such company, etc, whether such gains and
profits arc divided or not, and must also state
aeunrately hs or her income from all other
sources. -.
EVILS OF EoLEc TO MAKE OUT OR VERIFY
STATEMENTS. 1000 .f o.
S. II any person neglects or refuses to render q
written statement, the. Assistant Assessor Is 70.
quested to gil out a blank with such persons
lame, and taxable income estimated according 10
the, best Information that can be obtained, ana
upon this estimated income TO assess the tax, and
then 70. ADA o5 per cent. 10 such tax rs q penalty
for neglect or refusal -
6. An As,Ixtant Assessor may be mIsled 10
making this estIuate, by being mlsInformed a. to
monev received mr. mot informed as 10 money
paid, He mu,t assess. however, according to the
best within biz reach. The only per.
son cApable Of giving ahsolutrly correct Ipforma.
tIon is frequently the ono who refuses or neglects
TO make a statement. II such person will not
take the trouble to inform the Assistant Assessor,
there Is q bar to all complaint. should the assess
ment provo Incorrect, and a heavier tax be levied
than would otherwise DO charged. Moreover,
after an assessment has once been made, II GIRO
nam. II IA aIUav. trouble.ome 10 IA, marty in.
,.r.sted IN HAYS II corrected All p.r,ons there.
lori. but s~,p,eialIys uch AZ hare no taxable incon..
.hon,d NOT faII 10 T,nier m. reouIreJ ,tairn,sn,'
ou'u nv ~" ~ sAs 49, "''
L. ~ ,rorhl.
S Ev.rS .,a,smant mp,, h, vsria.d nv oa,h mr.
-.yns VIZ ,hi. Il NOT dona ',hs ( s.is,an,
S...Ssnr i. ranrjr.J ,o s,,Ina,. ,bs Income and
~ "a o. - e w 20 % ,hs inv 1
wi or SIxIya A FALSE STATEMENT.
O An Assi.,nnt Assessor has mower 10 ircrea,e
!. Au Assn.ahs nsses,or q o." q. mc A.
~ ~ In,.,o.,ad VI Z, ~
1877 - ~ adS I'm - 80, % ,hs %, yyb.n
qusnGu' : - - rarS.r.d ava On.
psrtv MAKING ID. false statement becomes liable,
No, ,niw for ,hIs addi,Ional faY bnt iikeviso no
Two ols'inet ProsesIhons 1eioie NC -. Us
~, 20 S.nrand ,ha Govsrnmsnt md m. other
o. ,..,rrv
y. ps,Je'S. y NJ sr,r,xrvr on ,,covv
NJ n. yfe,h ..c,,or ~ ,ba iaw ,bs commi..
- s.H -. 4. .rno..rad % mrs..
HI"net y, in,eIu.i .EtJJL ~
scrloo the leIM ana Ma"m.r =. hi. -. ha.
ment OF income must oe msae W. u ns nA
none IN . printer /. !. ~ - .,i,nnS ,rhs
SCISSOR, And IN NAllou. eneu,nIs u ru'h hs" ~.
borrowing " "u~ A"' '''A p'
'ei I . ra., a, ,hs orss, c,a,.., into which the pur.
l. Eacn OF tns sIes. ciasses in.o ~na = 'p.a.
suits Of nc ana ,ne lnses.nnneuno y. S"piA 90.
oeen olVlaeu muss w Io.uturu 'tpn'N.sy 80
In ono not being allowed 70 ons' gAins IN o, = -
Thus q merchant VINO snsases IN iAhhIns !, ~
speculations MOI oeIonsins 10 n's ,esi h y lnass oui IN
ness cannon Offset Esin' ~ '"o - y ""'' ~
the other.
= Inc expenses lneluenl y saea ousno" "
deduSuoIe from 'ne 1essipssI. in,Inm !" .,y
g. specula,iTns HSnIAHssty Ie'ons.ns ~ ~ ~
oustuess' = ~ Thn. aLa, 40, .nac.
proht ana loss account. my -. ,
ulate 10 STOCKS cry sooas mslSnnnt ~ sn ,,o .
hardware man IN non, w. u III ifeci,In",.
may anect tne gan aha 'o,,oi sHIn IcsH.n hs
busiuesG A inrrchant ALSO may MAKE OF lose W
exchange or the KIND OF money paid LOT avs ner
chandise, and this gain or loss belongs 10 nis iher.
chandise account. But II ne BUY. gold' uncurrent
money; United states Treasnry notes, or any
othsr tnins nor ono o. 1ns ArIicIes ,rAue uetons
Ing TO bis regnlar 6usinsss' tor me purpose OF
speculation. the pront or loss irom Nuch .pecuIa.
tlon Will not DO ilowedto auect tns pront or loss
from his regular ousineIs ouHness nrm
placed Sto,vVV "a tne hAnun1l Neu ioIk o.o;
ker, instructing him to use II In the purchase and
sale OF gold, on thcir account; and having lost
t27 500 In this venture, they claimed that II
should DO deducted from their profits In business.
Commissioner Lewis dissllowed the claim, and
| aid the xatorH ruling bad bten that ~ hen a
loss Il made In any particular business, against
which thrrc are no gains 10 Offset, II u ronsid'
-rrd a dead hss q capital iHrested IN nat eI:t
Rsss." Again, loss Of capital cannot be de-
iucted from Income" " Return OF income must
DO made on the gains" e.. ..a
4. How far different kinds Of business must Or
returned separately !, inoWn oy the following
ruIin6s Sonuiissioue,
lAIaf a m IN m % OnH