The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-12-14
more than $1,000 to each empioye and the
name and address Of each OF such employees.
WHAT GROSS RECEIPTS ARE.
The gross profits include:


name and address Of each OF such employees.
WHAT GROSS RECEIPTS ARE.
The gross profits include:
First-An profits of any trade or business.
Second-Interest or coupons from bonds
or other securities OF any corporation.
Third-Dividends received from any COR
poration-
Fourth-Undivided profits of any corpora
tion.
Fifth-Premium on bonds notes or stocks.
Sxth-Commission percentage.
Seventh-Interest on government secur-
tiles. not exempt by law.
and securities.
Ninth-Profits from sales of real estate.
Tenth-From rents.
EIeventh-Profits from all other sources,
TO be enumerated.
The operating expenses shall include:
First-Interest paid or accrued within the
year on bonded or other Indebtedness or
such corporation.
the year. which must be separately stated
and fully described as TO cause. date and
amount.
Third-An taxes actually paid
Fourth-Salaries and pay of officers and
employees actually paid during the year.
Fifth-Rents and necessary repairs.
Sixth-All other necessary expenses whlch
must be itemized and fully explained in the
return.
The net profits shall include:
First-All amounts paid to stockholders or
second-The amount of undivided profits
on hand or carried to surplus or any other
fund
Third-Amount Of net profits used for con-
struction, enlargement or Improvement OF
plant.
Fourth--All other expenditures or invest
ments from the net profits.
Corporations are required to keep accur-
ate books of account. and may be request
ed to allow collectors to inspect the same
in verifying returns. II the annual return
Is not filed with the collector In the time re-
quired by law, the corporation making de-
fault shall forfeit a penalty OF 1,000 and
2 per cent. a. month on the tax due until
paid.
EXEMPT FROM THE TAX.
Certain specified corporations for chari-
table and like purposes and certain savings
banks, mutual insurance companies and
loan associations are exempt from income
tax In such cases it is held by the depart
ment that the intention of the exemption Is
to extend benefits to the small depositors
and beneficiaries of such mutual and saw
ings institutions, and that the corpora
tons as such and those who speculate in
the shares. stock funds not bene-
ficiaries of the exemption. Collectors are
required to examine the articles of incorpo-
ration and business methods Of corpora
tions claiming exemption, and where such
are not within the class specifically exempt.
to cause return to be made for taxation as
in the case of other corporations
The tax due from salaries of officers and
from pay OF employees of the United States
will be deducted from the first excess pay
ment over $4,000 by paymasters and dis
-bursing officers in paying the same, and
will be paid over to the collectors of the
several districts wherein such dsbursing
officers reside or make payments. 1t Is
provided that no part Of the salary, fees or
emoluments of any State. county or muni--
cip3l officer is subject to income tax, and
no return thereof shall be made of the
salary or fees Of such officers. Salary re-
ceived by government officials In 1894 shall
be included in the first annual return to be
made on or before the first Monday in
March, 1895.
Appeals, and the method thereof. are al
lowed and prescribed in all cases where the
persons charged with the tax is dissatis-
fed with the decision OF deputy collector
or collector In the first instance. the ap-
peal is to the collector, and IL dissatisfied
with his decision. the appellant may have
dence relating thereto. transferred to the
Commissioner of Internal Revenue for his
decision.
Severe penalties are imposed upon all Of
ficers and other persons who make known,
in any manner. any fact or particulars
contained in or relating TO any return OF
any taxpayer or any fact as to the source
or amount of the income of any srch per-
son. Collectors are strictly directed by the
regulations to rgidly enforce this provision.
AS all original returns are forwarded to,
and filed in the office of the Commissioner
of Internal Revenue. the opportunity for
vision will be greatly reduced.
The tax on incomes for the year 1894 will
be due and payable on or before the 1st day
of July next. and If not paid at that time
The collection of the tax when delinquent
will be enforced in the same manner as In
cases of enforcement and collections of
other taxes under the internal revenue laws
of he