Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1867-04-04
ABSTRACT OF THE ANNUAL INCOME TAX
INCOmK TAX.

us scNerhi distfnct uehus:
STATEMENT sHouLD Br aADE-.wHERE, wHEs.
AND BY WHOM
rha,,w rson,r.. e,.rv maroon ofIaw faI age,
rs.idsny in an, Halted STAR. 10 render 10 tho
As,is,an, As....or Of IN, NH. dis,r ct In which he
or ~. may h. r..IdIng on Tie La day Of Nav, a
written .ta,.mrut. according 20 a prescribed
form of m. amount of his or her income. gains
"a n,os,. d,r;ny ,hs nr.viou. year from Jan.
nss.is, - n.canh.r a., hoIh Law ineIusiye.
a n,,n,sd hIapk contn,ninS thIs form can be- OBJ.
tainsd from IN, Assistant Assessor. A person
h.vIn,n No a.sd re.IIanr,. shonld max. n state.
-, ssh.r.y.r n. or m. may bnpprn 10 be: and,
In ems. OF removal TO another dlstri,t, should take
\ csr,issd eopy Of such statement 10 show any
~. A..ts,sn, as....or Mo ntberul., might
~. : saeond a..ssxmspt
. Tn s,n,smsr, mns, h. rsndered on or be-,
- ~ "a, Ssv ~ M ar within ten DAYS aftsr
-. ,.on,r,ng 4, has been
-. a.rs.IS.n. ~ a fh,s,nsss or de-.
no.,,si in ,he nearest posi- Office.
a tn .nnr,i inron. tar Ia "A prrsoual taa,
and n eannot he assessed against any corporation,
eomnany. or partnership, Al such. Every indi.
vidnal member must make a statement Of his or
hsr shay. ~ ar in,arrst in the ruins and profits OF
snch eompany. etc, whether such gains and
proats are divided or not, and must also state
separately his or her income from all other
sources.
E'iLS OF aLk ~ IAN WI v" N
SrAiHh.Nte
any peIsoa 49,, 4. -.
"fl'.en an 'nv ~ - n.r.or,.
ques'eu to uI = q = w - dnre 20
name anu taAao'e lheVme y s,aSnsa "a
the BEST tnat can DC ooSuneu aaS
upon TINS estimated income 70 sssess'u : S"u
then 10 aua % per cent 10 suen u P""'
LOT neglect OF .elusai Il,
y an I"nS.Sn., bw ho,rs mi.infcrmrd ma 10
rona, rs,csIysd or moi informed AS 10 money
paid. He mus, assess, however. according to the
best information within his reach. The only per
son capable OF giving absolutely correct tnforma'
ton Is frequently the one who refuses or neglects
10 make q statement. II such person will not
take the trouble to inform the Assistant Assessor,
there is \ bar TO all complaint. should the assess.
ment prove incorrect, and a heavier tax believed
than would otherwise be charged. Moreover.
after An assessment has once been made. II GRO
npSus. II Is always troublesome TO the party In.
tercsted TO have IL corrected. All persons. there.
fore. but especially sucA as Aare no taxable ineo~s,
should not fail 70 render the required statement,
upou the proper blank, so ~ 10 avoid undue tax
alton andtrouble.
y Eysr~ ,s,sm.pt INNS, h. verified by oath or
sSr-atio. Wb.n ,bi. ia moi done, the Assistant
ksss.sor /. r.ouir.d 10 estimate the income and
90 saa os n.r cent 20 10 IN. tar
Evils VI AAAiS" 'NiS1
9. An Assistant Assessor has power 10 increase
the amount In any statement, after giving duc
information to the party interested. He Ia re-
quired, also, to add 100 per cent to the tax when
y false statement has been rendered and the
party making the false statement becomes lihole'
not only for this additional tax. but hkewise 10
two distinct prosecutions before the United states
for making afalse statement WIN IN
tent 10 defrsud the Government, and the otner
for perjury.
MANNER or MAKING up TEN or iScoAE.
- NO, L.. ~. rourts
by 'ne tte.n ss1.oho. u 70" .nr -.
sione' OF in.eFnAl ne1euue" emPgIn - -
scrioe tne ys'" anu nHHHeI :" NV ~ ~.
men' OF 'heoms must DC may ". E
uone IN pr.htea oianN W. ' = nn"a tn.
ssuunns"oIia WI :" -, ~ hssn nrs,
49,
I -. ,n..,, .,,.... Into which m. MIR
~ u aani,aI h.rf
SUITS OF uie anu tne n'es'ueu,s " N"p,."' -
been divided must De returneus epaIatey- Ios'es
IN one no' oe,ns aiIo"ea - y " H.
Thus 4 merchant VINO engages ~ iHamlng Srm
moi belonging 70 usIesi.una'eo usr
nesscanno' onset gains IN tue ono oy 'oSses I"
the other.
: The expenses ineident 70 saen ousales' TIC
deduehole rom inc rrseiPts snn ). .,v
j. speenla,Sns esnaha.s.y Seionslns ~ "u, a.,
business, and these alone, may DC earrieu untoits
pront ana loss account mus Ssoker msy -.
uIate III STOCKS Jury soous uieIsnant
sSe, ,ha IA Ia. ~ sneh 9ssitimst.
.aS mssoha,, .I.o NAV maize or Ios, by
business. mcIvnau' : Nuay
eaenanse or a uioasy 40 NJ. ~,
cnanIise' = ~ 60 nn n..nr-.r,
,rSt.SI So Tr.a.r,v no,.s ar any
money, ohi'ea try rv y"Ss Sa,onS.
o'leI I'm ~. ~. nnrross ~
ing TO his regular business, for the purpose OF
speculation, the pront or ioss rom sucn speenia.
ton Will not BE allowed 70 aneet inc prom 0 loss
from MS regular ousucss oue4n ~"
placed s4V'uoo N inc ashanSt Neu
ker, ins'ruetng am 10 use !. 'ne n = anu !.
al ~. M s., ~ ran,,r. ,h.y .IsinsJ that n
shonIS ~ d.dnctsd nom their proats In business,
SS~.missJon.r 80 di.aIIovad the claim. and
VI ~ nsn 1t. ma ~, thu, "-bsp a
selu .hs sIygr" III q 80 hnstnsss ,.atn.,
LosS Is "a" - ~ rain" - ~, I, - son.iJ.
my 80 s.s.,S 4, a., 80
-" 81 ..Ioss ~ .anItaI cannot he de.
-" go income .Rstrrn Of Incom. must
u.an On he saSr,"
DC u" Mn, % rSIT.r.n, l,nds ~ hus,,... upst h,
rrns5 s.nsratsIv ia ,horp by the following
rniincs Of CommIssioner Rollins:
MSS"Io.. incurr,d in the prosecution Of on.
k,sS az bn .in,ss cannot be deducted from gain in
husIp.ss Of an s~atirelv diferentcGaraeter nor from
salary. rents, dividends. etc
0)-"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 q single BUSINESS " mulspeuhaoLy
4 loss Of capital"
(~e)-"Losses in merchandise can De deducted
only from gains In merchandise; but. In this case.
branches Of merchandise need not be
So In speculation. the loss or gain
nom stocks may Offset loss or gain from produce
speculated In"
(G-"Merchants must make return OF their
profits from merchandise without regard a. TO their
losses In speculation, or gains from interest. divi-
iends, rents, or any other source"
e." Losses In speculation cannot be deducted
from salaries, nor from gains In merchandise.
When Losses are sustained In one speculation and
an. msJs IN another SPECULATION, such losses
49, h.. SsSuct,d from sueh gains Losses in one
.s,sh ~ msrcbandIse NAV be deducted from
,aSns n ~, other branch on msrchnndlse."
20 VA s,o.ts ate are honght as A per.
s,sn, Inyestmrnt. and sold again merely to
raw. ,hs ,ny.stm.nt. n loss sustained in the
.als nav h. deducted from the dividends from
,,.eh s,osks But where the purchase Is made for
,ho nrrno.s ~ calling again on speculation, the
sns,aip.d bv .he sale cannot be deducted
djviJsnd. hnt NAV be deducted from gains
isriysd from M. puyeIa,s and sals Of stock, etc.
the same year"
-,tTn 49, ,or wbish incom. /, estImntsd. or
- no,.r,shIs on m. 3Ist dxy Of December
i1t,I 80 shonid he DEDUCTED.
VI sa.u y, 49,. - - Ar. hv Oh. ovpsr for