Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1894-12-14


and shall include that portion OF any III
come or salary upon which tax has not
been paid bv the employer, where the en-
plover ia required bF law % pay on the ex-
cess over four thousand dollars:
Provided also, That in computing the In
come Of any person, corporation, company,
or association there shall not be included
the amount received from any corporation,
company, or association as dlvidends upon
tue stock of such corporation, company, or
association If the tax Of two per centum
has been paid upon its net profits 0y said
corporation, company, or association as re-
Quired by this act.
DUTIES OF CORPORATIONS.
Every corporation, company, OF assocla-
ton doing business for prOht Is required 70
make and render to the collector Of its col
lection district, on or before the hrst Mon
dav of March in every year, beginning
with the year eli ghteeu hundred and ninety
five. a full return, verified by oath or al
hrmation, in such form as tue Commits
siouer of Internal Revenue may prescribe.
of al the following matters for the whole
calendar year last preceding the date Of
such return;
First. The gross profits Of such corpora
ton. company, or association, from ali
kinds Of business Of teverY name and
nature.
Second. The expenses Of such corpora.
ton, company, or association, exclusive OF
interest, annuties, and dividends.
Third. Tue net prohts or sucn corpora
ton. company. or association, without al
lowanee Tor interest, annuities, or divi'
dends
Fourth. The amount paid on account Of
interest, annulties, and dividends, stated
sep4rateiv
Fifth. The amount paid Ia salaries Of
four thousand dollars or less 70 each per-
son employed.
sixth. The amount paid in salaries Of
more than four thousand dollars 70 each
person employed, and the name and address
of each of such persons and the amount
paid % each.
10 is the duty of every corporation, COM
pany, or association doing business Tor
profit TO keep full, regular, and accurate
books OF account, upon which all us trans
actions shall be entered from day to day,
in regular order, and whenever a collector
or deputy collector of the district in which
any corporation, company, or association IS
assessaOle shall believe that true and
correct return of the income Of such corpo-
ration, company, or association has not
been made, be shall make an affidavit OF
such belief and Of the grounds on which 1t
is founded, and file the same with the Com
missioner of Internal Revenue, and II said
Commissioner shall, on examination
thereof, and after full hearing upon notice
given TO all parties, conclude there is good
ground for such belief, he shall issue re-
quest in writing 70 such corporation, COM
pany, or association 70 permit an lnspec-
ton of the books of such corporation, COM
pany. or association to be made; and II
such corporation, company, or association
shall refuse to comply with such request,
then the collector or deputy collectorOf the
district shall make from such information
as he can obtain an estimate OF tfS amount
of such income and then edd hity per cent
um thereto, which said assessment SO made
shall then be the lawful assessment Of such
income.
In computing the actual operating and
business expenses q a corporation there
NAV be included expenses for material pur-
chased for manufacture or bought for re-
sale. losses. isterest on bonded or other
indebtefuess, and all State. county and
municipal taxes paid, but in the net profits
or ipcOme there must be included all
amounts paid to the shareholders or car
rieS to the account OF any fund, or used
fo- construction. enlargement Of plant or
say other expenditure or investment paid
from the net annual profits.
PENALTIES.
In case any person liable to pay an in
come tax shall neglect or refuse to make
proper return of his income, or shall make
fraudulent return the Collector may from
the best evidence he can obtain make out
such return himself. In case OF neglect or
refusal 10 make out the return he shall add
so per cent to the return so made out by
himself and in case OF a false or fraudulent
return he shall add 100 per cent to his re-
turn, and the tax shall be collected on the
amount thus increased. If the President
or chief officer Of any corporation or the
resident manager OF any foreign corpora
tion shall fail to make proper return
Of its taxable income, the corporation
shall forfeit the sum Of $1,000 and pay two
per cent on the amount Of taxes due, each
month, until the same is made.
The income tax is payable before the
first day Of July in each year, and TO any
sum unpaid after that date, and for ten
DAYS after notice and demand therefor by
the collector. there shall be added > per
cent of the amount Of taxes unpaid, and
interest al the rate OF per cent. per month
shall be charged until the same is paid.
But no penalty shall De assessed against
any person or corporation until he shall
have been given an opportunity for
hearing, after reasonable notice OF the
time when he may be- heard.
ANY person or corporation whose In
come return shall have beeu increased by
the collector or deputy may prove his in
come, but such proof shall not be conclu-
sive unless approved by the collector. II
the person is still aggrieved be may carry
the case before the Commissioner OF In
ternal Revenue.
COLLECTOR TO OBSERVE SECRECY.
la order that the business of any person,
firm or corporation may not be made known
10 the public. heavy penalty is provided
for any collector or deputy who in any way
reveals anything concerning the business
or income of any one. It is unlawful for
collector or deputy 10 divulge in any man
ner 70 any person the amount or source Of
income disclosed in any income return, TO
permit any book containing any abstract
thereof TO be seen, 10 print or publish 10
any way any income return or information
contained therein. Any such Offense shall
be punished by a fine not exceeding $1,000
or imprisonment not exceeding Que year or
both, and the offender shall be disqualified
thereafter from holding any office under
the government
PostOfico Burglar Arrested