Iowa County democrat. [volume] (Mineral Point, Wis.) 1877-1938, 1894-11-08

or deputy collector Of the time fixed
for taking the deposition or affidavit.
Provided further, that no penalty
shall be assessed upon any person OF
corporation, company or association
for such neglect or refusal or for max.
ing or rendering a wifully false OF
fraudulent return, except after reason
able notice of the time and place Of
hearing, to be prescribed by the com.
missioner of internal revenue, so rs
to give the person charged an oppor.
tunity to be heard.
Sec. 80. The taxes on incomes herein
imposed shall be due and payable on
or before the first day of July each
year; and to any sum or sums annu-
ally due and unpaid after the first day
of July as aforesaid. and for ten days
after notice and demand thereof by
the collector, there shall be levied. in
addition thereto, the sum of ; per
centum on the amount of taxes uli-
paid. and interest at the rate of per
ccntum per month upon said tax from
the time the same becomes due. ms n
penalty, except from the estates of de
ceased. insane, or insOlvent persons.
! Sec. 81. Any nonresident may also
receive the benefit Of the exemptions
hcrenbcforc provided for by filing
with the deputy collector Of any dis,
trct Il true list of Ill his property and
sources of income in the United States.
and complying with the provisions of
In computing income he shall include
section 70 of this act, as if IL resident
in computing income he shall include
all income from every source, but un-
less he be a citizen OF the UuitCd
States he shall only pay Oh the part
of the income which is derived from
any source in the United States. In
case such nonresident fails to file such
statement, the collector of each dis
trict shall collect the tax on the income
derived from property situated In his
district subject to income tax, making
no allowance for exemptions, and all
property belonging To such nOn-rcSi-
dent shall be liable to distraint for
tax: Provided, that nonresident cor
porationS shall be subject to the same
laws as to tax as resident corporations,
md the collection of the tax shall be
made in the same manner as provided
for collections of taxes against non
resident persons.
Section b. That there shall be as
scssed, levied ana collected, except us
herein otherwise provided Il tax of :
per centum annually Oh the net profits
or income above actual operating and
business expenses, including expenses
for materials purchased for manulact-
urc or bought for sale, losses and i'll
tercSt on bonded and other indebted
ness OF all banks, banking institutions,
trust companies, savings institutions
fire, marine, life and other insurair"
companies, railroad, canal, turnpike,
canal navigation, slack water, telr-
phone, telegraph, express, electric
light, gas, water street railway COM
panics, and all other corporations, com
panics or associations doing business
ter how created and organized, but
not including partnerships.
The said tax shall be paid on OF be
fore the first day of July in each year;
and If the president or other chief Of
iiccr of any corporation, company or
association, or in the case of any for
rign corporation, company or assocla-
ton. the resident manager or agent,
shall neglect or refuse to file with the
collector of the internal revenue dis
trict in which said corporation, com.
pany or association shall be located
or be engaged in business, a statement
verified by his oath or affirmation, IN
such form rs shall be prescribed by
the commissioner of internal revenue
with the approval of the secretary OF
the treasury, showing the amount OF
net profits or income received by said
corporation, company or association
during the whole calendar year last
preceding the date of filing said state
mcnt, as hereinafter required, the cor.
poration, company or association max
ing default shall forfeit rs II penalty
the sum of $1,000 and per centun
ON the amount of taxes due for each
month until the same is paid, the pay
llltIlt vi Sulu w Nv 'hiohN'N "''
provided in other eases of neglect aud
refusal to make return of taxes under
the internal revenue laws.
The net profits or income of all cor
porations, companies or associations
shall include the amounts paid to
shareholders or carried TO the account
of any fund or used for construction,
enlargement of plant, or any other eX-
penditure or investment paid from the
net annual profits made or acquired
by said corporations, companies or as
Suciations
That nothing herein contained shall
apply to states. counties or municipalt-
tics; nor TO corporations, companies or
organized and conducted
solely for charitable, religious or edu-
cational purposes; including fraternal
beneficiary societies, orders or asso-
operating upon the lodge sys-
tenn and providing for the payment OF
life sick, accident and other benefits