The evening world., 1894-01-23

profits and Incomes from all property
nd or every business, trade or profess
sion carried on In the United states
4 States and not citizens thereof, And
the tax 81 all bc assessed and paid upon
the gains profits and incomes for the
next preceding the time for ~levying, col
lcrting n paying said tax"
The, dennition OF profits H.. specified
very broadly so as to cover all incomes
from notes, bonds tothCr than United
Stat"s bonds. real estate, sales VI i've
stock, pork. sugar. wool and other. pro-
auctions, except that. portion Of the
salary or pay received FOR services In
the civil. military. naval. or other ser
vice of the United States. inducing
! Senator's. Representatives ard delegates
been deducted. and except ,het portion
OF any salary upon which he employ er
Is required by law to. and iocS. with
officer authorized 10 receive e." .'rvi-
sion ~ also made for de inri.ag losses bv
fire, shipwrcck and by trade deprcssions
from the aggregate OF iron :
Section 3 makes 1t the duty OF all per
sons having an income of over 81, 900 to
render n return. All guardians. trustees.
&c. must make similar returns to their
deputy collector OF internal revenue for
1 NTH 0]Ii syyinr , Tso tai, IS sFrsSs s lsi,1 shp !, d
bill further provides:
And In case any person having a tax
able income shall neglect or refuse &c
make and render such list and return
or shall render a false or fraudulent list
or return, 1t shall be the duty of the
deputy collector to make such list, &C.
oording to the best information he car
obtain, by the examination of such per
son or his books or accounts, or any
other evidence, and to add SO per centun
as a penalty to the amount of the ia,
due on such list in all cases of wilfu
neglect or refusal tn make and .Fpndpl
a list or return; and in all cases OF q
false or fraudulent list or return having
been rendered, to add 100 per centum a,
a penalty, to the amount of tax ascer
tained to be due"
Appeal from the decision Of the deputy
collector Is provided. The tax is paya'
added on sums In arrears over ter
days. and also l per cent. a month while
the tax remains In arrears.
Section o Includes non-residents own
Ing property In the United States withir
the laws provisions.
Section 6 imposes a uniform tax of
per cent. on dividends of stockholders II
insurance companies, banks, trust com
panies and other corporations and asso
Citations. to be paid by such corporations
and withheld from payments made or
account of any dividends or sums o.
do which is granted. The corporation /,
to make to the deputy collector a re
turn, verified by the oath or affirmation
of its officers. A corporation failing t
make return Is subject to a penalty o.
81. GOO. besides the increase in Its taxes.
Section 8 provides for taxing dividend
Of railroad, canal, turnpike: telephone
telegraph. electric light and gas com
panies, water companies and street rail
way companies.
Section . subjects to a 2 per cent. ia,
so much OF any salaries. public or private
as exceed $1,000. the tax to be deducteC
by dlsbursing officers, cashiers or EN-
ployers from salaries and paid to tn
internal revenue collector.
Stringent provision is made agains
private business or OF amounts Of in
assessing the tax on those who fail L
make returns in special cases.
Every corporation Is compelled to fur
| nish a list. under oath or affirmation
, of Information on the following points:
? "First-The gross profits of such cor
t poration from all kinds of business
OF every name and nature.
/, "Second-The expenses OF such cor
: p,oration, exclusive OF Interest, annui
"Third-The net profits of such cor
pofation without allowance for interest
annuities or dividends.
"Fourth-The amount paid on accoun
: OF interest, annuities and dividends
I stated separately.
"Fifth-The amount paid in salaries o
$4,000 or less to each person employed.
"sixth-The amount paid in salaries o
a Sections seventeen and eighteen pre-
vide the penalties of perjury for falls
returns. &c.
e The rest Of the bill covers whiskey an
II taxed two cents a pack. The tax
Z payable by the manufacturer by stamp.
e The tax on distilled spirits is made
. a gallon after the first day of the secon
! bill. The bonding period is fixed a
u eight years.