The Providence news. (Providence [R.I.]) 1891-1906, 1894-08-23

that in case where two or more wards arc COM
srs isrsst sHs ns aseresa,e % dedueton In Their ~
yor shall not exceed Sb And Y,9yided o dS- inr-
compensation paid 10 any person In the employ
exceed sas d the rais Of saoo per snnum. or shall
amount or In the time during which the same
shall have accrued or been earned, such sala-
ry or other compensation shall be included In
estimating tho annual gains, profits or income
OF the lerson 10 whom the same shall have
been paid. and shall include that. portion Of
not not been % paid by the employer, where the en- an
osles over $4,000 provided also, that in computing
pany or association. there shall not be included
the amount received from any corporation.
company or association. AS dividends upon the
stock OF such corporation. company or associa-
tion. II the tax OF 2 per cent has been paid
upon its net profits by said corporation. COM
pany or association as required by this act.
Must Report His Profits.
Sec "a. That il shall be the duty OF oil per-
sons OF lawful age having an income of more
than $500 for the taxable year, computed cn
the basis herein prescribed. 70 make and rem
be directed by the commissioner of internal
revenue. with the approval OF the secretary Of
the treasury. to the collector or a deputy coll
lector of the district In which they reside, of
the amount OF their income, gains and profits
executors, administrators, agents. receivers
and all persons or corporations acting in any
nduciary capacity, shall make and render q
list or return, as aforesaid. to the collector or
deputy collector of the district in which
such person acting In fiduciary ca.
amount of income. gains and profits OF any
mipar or person for whom they act. but per-
sons having less than $500 income are not re-
or deputy collector shall require every
list. or return 10 be verified by the
oath or affirmation Of the party rem.
dari md ft,nr hA OF
any list or return II he has reason TO believe
that the same Is understated, and in case any
such person having a taxable income shall neg
and return or shall render willfully false
fraudulent list or return IL shall be the duty of
the collector or deputy collector TO make such
list, according to the best Information he cen
obtain, by the examination OF such person or
any other evidence and To add 30 per cent
such list in all cases OF willful neglect or re-
fusal To make and render a list return, and
a. all cases OF awiiiiuily false or fraudulent ~,
per cent as a penalty TO the amount of tax
ascertained 10 be due, the tax md the addi-
collected in the manner provided for in other
cases OF willful neglect or refusal TO render
list or return or OF rendering false OF fraudu-
Provided, That any person or corporation in
his her, or it's own behalf, or as such fiduciary,
shall be permitted to declare. under oath or
afiirmation, the form and manner of which
shall be prescribed by the commissioner OF in
ternal revenue, with the approval of the secre-
tary OF the treasury that he, she or his, her or
its ward or beneficiary was not possessed OF an
income of S4,oo0 liable TO be assessed accord
ing 10 the provisions of this act; or may de-
clare that he. she or IL, or his, her or its ward
or beneficiary has been assessed and has paid
an income tax elsewhere in the sane year. un-
der authority of the United States, upon all
his. her or Its income, gains, or profits. and
upon all the income, gains or profits for which
he. she or II Is liable such fduciary, as pre-
scribed by law; and If the collector or deputy
he iGHp pd NJ frn nf IA
declaration, such person or corporation shall
thereupon be exempt from income tax In the
SAID district for that year; IL the list or re-
turn OF any person or corporation, company or
association shall have been increased by tho
collector or deputy collector. snch person or
corporation, company or association may be
permitted to prove the amount of income liza
bic To be assessed hut such proof shall not he
considered as conclusive of the facts, and no
deductions claimed in such cases shall be made
= or allowed until approved by the collector or
deputy collector.
Any person or company. corporation OF asso-
citation feeling negrieved by the decision OF the
deputy collector In such cases may appeal To
the collectorof the district, and his decision
thereon. unless reversed by the commissioner
OF internal revenue. shall be final. III dissatis-
fled with the DECISION of the collector such per-
son or corporation, company or association
may submit the case. with all the papers, 10
the commissioner Of internal revenue for his
decision, and may furnish the testimony OF
witnesses 70 prove any relevant facts, having
sioner OF internal revenue, as herein prescribed.
Such notice shall state The time and place at
which. and the officer before whom the testi-
mony will be taken; the name, age, residence
and business OF the proposed witness with the
questions to be propounded to the witness or
mony he is expected to give. Provided. that
the government may at the same time and
place take testimony upon like notice to rebut
tne testimony OF Inc witnesses examined by
the person taxed.
Tie notice shall be delivered or mailed TO
the commissioner OF internal revenue n suffi-
In he n ~ ftrsH
Tor taking tie testimony TO allow him after
its receipt NJ least five days, exclusive of the
period required Tor mail communication with
the place at which the testimony is to be TAX
en-, IN which 10 give. should he so desire, in
structions as TO the cross examination of the
Whenever practicable, the affidavit or depo-
sition shall be taken before collector or dep
uty collector of internal revenue, in which case
reasonable notice shall be given 10 the collector
or deputy collector OF the time fixed for taking
the deposition or affidavit.
Provided further, That no penalty shall be
assessed upon any person or corporation, CON-
pany or association for such neglect or refusal
or for making or rendering willfully false
fraudulent return, except after reasonable no.
tice of the time and place of hearing to be pre-
scribed by the commissioner OF internal rev.
enue, SO as TO give the person charged an OPP
sec. 81. That every corporation, company or
association doing business for profit shall make
trict, on OF before the first Monday of March
In every year. beginning with the year 1866. a
full return, verified by oath or affirmation, in
such form the commissioner of internal
revenue may prescribe, OF all the following
matters for the whole calendar year last pre-
ceding the date of such return:
First-The gross profits of such corporation,
company or associaiion,- from all kinds OF
business of every name and nature.
Second-The expenses of such corporation,
company or association, exclusive OF interest,
annuties and dividends.
Third-The net profits OF such corporation,
company or association, without allowance for
interest, Bnnuities or dividends.
Fourth--The amount paid on account of In
terest, annuities and dividends, stated sep
arntely.
tifth-Thc amount paid in salaries OF $4,000
or less TO each person employed.
.Sixth-Thc amount paid in salaries OF more
than Si.UO toeach person employed, and the
name and address OF each of such persons. and
the amount paid 10 each.
Books to lie Inspected.
Sec. 90. That IL shall be the duty OF every
corporation, company or association doing
business tor profit. To keep full. regular and
accurate books OF account. upon which all its
transactions shall be entered from day to day,
I'm regular order, and whenever collector or
deputy collector OF the district in which any
corporation, company or association is as
sessable shall believe that a true and correct