Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1866-11-30
ABSTRACT OF rHEANNuAL INCOME TAX.
wis or NraLRcr TO MAKE DOT OR VEhIff
arlTRMRNTA-

EyILs on NEGLECT TO MAKE DOT OR VEAIff
~sTATEMENTs-
II any person neslects or refuses 70 ronaer .
written statement, the Assistant Assessor ID TO
quested to ill out q blank win suen Pstsoa :
name, and taxable income estimated accoroinB 10
the best information that can be optaneo' Ane
upon this estimated income 70 assess Inc t1, ana
then to Md 25 per cent, 10 such tax as q penaity
for neglect or refusal. +.
6. An Assistant Assessor may 90 misied IN
making this estimate, by being misiniolmea ~ 70
money received, or not informed as 70 money
paid. He must assess, however. according 10 tho
best information within his reach. The only per-
son capable of giving absolutely correct tnforma'
ton Is frequently the one who refuses or neglects
to make q statement. II such person WIN NOT
take the trouble to inform the Assistant ASSESSOR
there Ii a bar TO all complaint, should the Assess.
ment prove Incorrect, and q heavier tax BIO levied
than would otherwise be charged. Moreover
after an assessment has once been made, IL GRO
neJus, It Ii always troublesome 10 the party IN
terested to have II corrected. AL persons: tnere'
fore, but especially sEcA AZ Adpe no faIooN tneose'
should not fail to render the required statement,
upon the proper blank, so as to avoid undue tax
alton and troublet
I. Every statement must be verified by oath or
afrmatioH. When this Ia not done. the Assistant
Assessor 10 required to estimate the income and
to add IS per cent to TO the tax.
EVILS OF MAKING A FALSE STATEMENT.
. Nn Sssis.Hn' Asses.oi :. P,.. s,,inn An.
Information to the party interested. He Ii re-
qulred, also, to add 100 per cent. to the tax when
q false statement has been rendered and the
party making the false statement becomes liable,
y SIiy ioI tns aauitioua sa.i y if,i,.d s,a,..
rus 49, .,a,.n.nt vIth in.
w. 70 S.eroL I 'sA sn~sn, .nd IN. other
sent ~ uoieuu No
MANNER OF NAMING Up STATEMENT OF INCOME.
py' tLe.n seSaon VI 'n' ta", !. - nr..
1ionor y y intcrnAi F.eVonue npvTe'vu 80
scrloo tuo Jo'm anu mohH' IN mnieT Ino "a
nent OF income must 20 msae up. tnn 70 L A
a1neI IN !In.eu oiAnk useH W = .nn"s M
sussoI, ~ IN various cneuiats = aups~ 80 rN
IoIio"ins 10 "SunhhAfy Vi ms o00N p'0'
1eIiogS. .hI,h -. n,
4: haen nS . snS ssea. e.asses n.o n.ni, ~ b pu
suits o. nie anu m lhvea.men's oi eApiAi nn
oeeh aiaiaeu mus 20 utIe sspGnASy ,a,h"r
Thn. ~.sshao, IN arser.s 10 rar,ninc ~ In
hnus IGN Nv 1885, III ,.n,,ina h,sI
sPeeuin.tono '. ooIons"s -" n.
ness cSuno' onse' gains III 'Ho on0 " 'o'sea III
inc oIner.
= Inc expenses ihciuent 10 e"cn business -re
deauSnoie rom .ne reseiPts o. Una. oIsiness'
d. oPecuIAsChs teS"smoteIy peionsIhs Ho any
business, ana tnese aione, may DC carried INTO it'
pii e,n 4, ~ s,a Use Trm Soods nor.hon, r. Hay !,
uIaIe III s'ocks' ury Sooas merenant IN cs'.on, :
naiawsle nun .na N IRON es'j, nna 'aea 'Pscuias ~.
may anee' .ne go" anu sIGs iesnln S
business. A merchant Also may make or lose oy
exchange OF ,ne kinu Oh money Palu lol M mor
euuuannSSiso, ~ ~" SON nm. ~ oSs oo'onSs W
e.Nn tr"J,sI go Ouys Wtu y. az.
n mS ,h,nn no, ons ~ Tho ar,Icis: ~ ,rsd, S.Iong
H - o o.si.. ..aI.as. -
ing 10 nls regular BUSINESS ior 'he purpose "
speculanon, tne piont OF loss rom sucn .pecuia
uon ",Iihol y : Iorouto aneet 'he prom y aos'
rom ron " 20 ~ ~ ~ hnnS "mWas III
placeu 91v'vVV 'ne hanusVl aNen oio
ker' mstruenng MN 10 use u IN tne Pulcnase sns
.sSe ot go'u, on their aecounI' ing ns',ns i's /,
S2L.2V9 IN tns venture, ,ney einimea sna. y
shoula DC deducted rom lnelr pronts IN ousinoss
commissioner Lewis oisaiioWed the claim, ant
said the uniform ruling had been that ~ hen
loss IL made In any particular business agains
which there are no gains to onset, II 10 consid
cred n dead loss Of capital Invested in that bust
ness Again, loss OF capital cannot be de
Quoted from income, Return Of income mus
be made on the gdins."
4. How far different kinds Of buslnesC must b
rulings Of Commissioner Rollins:
(a)-"Loss incurred In the prosecution Of on
kind of business cannot be deducted from gain II
business OF an entirely dfseHtcAaracter, nor from
salary, rents, dividends. etc
(6)-"Losses incurred In the prosecution of on'
branch Of business cannot be deducted from gan
In another, since An absolute loss incurred In tn
prosecution OF u single business IL indispensaoll
= loss Of capital"
(c)-"Losses In merchandise can be deductet
only from gains In merchandise; but, In this case
particular branches OF merchandise need not b.
separated. So in speculation, tho loss or gall
from stocks may Offset loss or gain from produc
speculated In"
(d-"Merchants must make return OF thel
profits from merchandise without regard TO thei
losses in speculation, or gains from interest. diyi
dends, rents, or any other source