The Cape Girardeau Democrat. (Cape Girardeau, Mo.) 1876-1909, 1894-01-27

sail pay penalty OF 81 coo; and in case OF de-
fault IN rendering said list or return. or OF de-
| fault in the p7yifiest Of the tax, the assess
ment and collection On ths tax an penalty
shah be in accordance with tho general pro-
visions OF Law in other cases OF neglect. provi6
ed that the tax upon dividendsof life insurance
companies shall not be deemed due until such
dividends are payable, nor shall the portion OF
premiums returned by mutual life companies
| to their holders nor the interest allowed or
paid to thesiepositors in savings banks or In
stitutIons be considered dividends
Sec T. That any hank. building association
or other banking institution emitting 20 make
dividends or additions TO its surplus as often
rs six months, shall make a list in duplicate
under oath 10 the deputy collector OF internal
| feyeHue, on january und July Lof the amount
Of profits accrued by slid institution during
SIX months preceding and shall present one
list TO the collector OF the district and pay
per cent. on such profits. and in default shalt
be subject to the penalties prescribed in tho
! foregoing section; provided that when any
dividend IS made which includes any part OF
the surplus which his been assessed and paid
the amount OF duty so paid on that portion OF
| the surplus or contingent fund may be deducted
from the duty on such dividend
BONDED CORPORATIONS.
Sec. g. That any railroad or canal. turnpike,
canal navigation company, any telephone. tele-
graph electric light and gus company or wa
ter company. and any street railway company
or other corporation ihdestsd for any money
for which Sbonds have been issued upon which
| interest is TO be paid, or any such company
TIT: nav have declared any dividend in money
payable TO lis stockholders as part Of its earn.
ings. and all profits OF sdc- company shall be
subject to a tax OF per cent. on lE5 -msun;
OF all such interest or coupons. dividend1
or profits. whenever the same shall be
payable and to whatsoever party; and said
MI mi mi
all payments, on account OF interest due and
payable. the tax OF FER cent. and the pay
ment OF the amount OF tax 50 deducted from
the interest and certified by the president
or treasurer other principal accounting Of
ficer shall discharge said company from that
amount Of the dividend os coupon on bonds
except where said companies MAJ raVe con-
ira; ted otherwise.
Sec 0 requires that all officers OF the gov
ernment receiving more than 81, ,00O shall pay
n tax Of per cent, which it shall be the duty
OF all plymnsters and disburs1g officers TO de-
duct and withhold to the credit OF the govern
ment. The payment Of pfizs money Is re-
garda.l as an income from salaries, dut the
regular tax collected therefrom-
Section 10 amends section 3l67 OF the exist
Ing internal-rcvenue law so thai any collector
OF other oticer or internal-reyenue agent who
divulges IN any way the operations. apparatus
or manner OF working Of any manufacturer or
producer visited by him In collection OF income
tax shall be subject to n fine not to exceed
II, 600 or Imprisonment for one year, or both,
and shall be dismissed from Office and be for
ever thereafter incapable Of holding any Ofice
under the government
section siT2 is amended so that deputy col
lectCrs shall from time to'time proceed through
eTert district inqufring after and concerning
all pctsGns I,rbte 30 pay any tar, and shall
make n list OF such persons and their ownlngA
Section BIB is amended so that any person,
partnership. firm, association OF corporation
liable TO any special tax or duty not otherwise
provided for. on July I. shall. on the lst OF
March preceding the slime when such taxes
are due, make out u-dar oath 4 return of their
dutiable goods or incomes When this is
not done it is required that deputy collectors
shall make out the list A collector is 6i-eu
the power when the proper person can not be
found in his own district TO enter any other
collection district where such person may be
found, and to make tie examination
EVASION OR fKACH,
Section 3l16 Is amended so that Wfierc che
person TO he taxed refuses to make return list
or ma lSes one which is deemed fraudulent the
collector shall have power 10 enter the prem
ises and make his own. adding penalty Of 80
per cent for refusal or neglect and Of 100 per
cent. for fraud The sickness or absence of the
party to be taxed gives the collector the right
10 allow not exceeding thirty days in which
the delayed list may be offered.
Section 10 requires every corporation doing
business for profit to make return OF amount Of
dividends under oath that il is true in amount,
In such manner as may be prescribed by the
commissioner
section u prescribes that every corporation
shall make return, bssinniug with 1sf5. of all
the following matters: ~ Gross profits; (2l
expenses of corporation exclusive Of interest,
annu flies ard dividends; ~ net profits with.
out allowance for interest. etc; ~ amount
paid on account Of interest. etc, s:lted sepai |
rately: Isl amount paid in salaries OF 1900 or
less TO each person employed; t6l amount paid
in salaries OF more than 1900
Section Il requires every corporation to keep |
accurate looks for inspection BY proper OH
GERS.
Section IS prescribes that taxes imposed up |
on dividends, etc. shall he collected therefrom
whenever the same may be payable and every |
corporation paying tax thereon may retain
from all payments made on account thereof o |
ptoportOnatc amount OF the tax so paid.
Section i6 requires collectors to give full re- |
port for all taxes Received and separate re- |
ceipt for each tax paid by any debtor on ac- |
count OF payments made by him TO
separate creditors in such form that ,
rately to his several creditors and such re- |
ceipts are TO be sufficient evidence IN favor OF |
such debtor to justify him in withholding the |
amount therein expressed from the next pay |
ment to his creditor.
Section 10 provides manner OF fixing salaries
OF assessors.
Section - declares that no rule established /
by the commissioner Of internal revenue shall |
be valid without the approval OF the secre-
tary Of the Treasury, nor shall the same |
be binding upOh. anS corporation or
person not an internal-rcvenua Oftlcer until 1t /
has been printed and cOnSpicuOusly posted in
the office OF the collector OF tho district.
Section 81 provides for the prosecution OF
perjury.
Secretary 80 gives the secretary OF the treas
ury or the commissioner OF internal revenue
power TO relieve or release from all forfeitureS
and penalties imposed by this act in such cases
as either OF them may deem proper. except to
penalties imposed by law for punishment OF
misdemeanor or other crimes.