Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1894-01-25


fault in the payment of the tax, She assess
ment and collection OF the tax am penalt.
shall he in accordance with the general pro
visions OF law in other cases of neglect. 1rovid
ed that the tax upon dividends OF life instfanct
companies shall not be deemed due until sucf
dividends are payable, nor shall the portion Of
premiums returned by mutual life companies
to their holders nor the interest allowed On
paid to the depositorS In savings banks or in
situations be considered dividends.
Sec. 2. That any bank. building association
| or other banking institution emitting to make
dividends additions to its surplus as often
as six months, shall make a list in duplicate
under oath to the deputy collector of internal
| revenue, On January and July 1.of the amount
of profits accrued by said institution during
| SIX months preceding and shall present one
| list to the collector OF the district and pay Z
per cent on such profits. and in default shall
be subject to the penalties prescribed in the
foregoing section; provided that when any
| dividend is made which includes any part of
| the surplus which has 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 such dividend.
| BONDED CORPORATIONS.
Sec. 8. That any railroad or canal. turnpike,
| canal navigation company, any telephone. tele-
| graph, electric light and gas company or wa
ter company. and any street railway company
| or other corporation INDEBTED for any money
| for which bonds have been issued upon which
|
| that may have declared any dividend in money
| payable to it's stockholders part Of it's earn
ings and all profits of such company shall be
subject to a tax of per cent. on the amount
or profits, whenever the same shall be
| payable, and to whatsoever party, and said
| companies are authorized to withhold from
| all payments, on account of interest due and
| payable. the tax OF per cent, and the pay
| ment OF the amount OF tax so deducted from
| the interest and certified by the president
or treasurer or other principal accounting Of
| ficer. shall DISCHARGE said company from that
| except where said companies may have con-
tracted otherwise.
| Sec requires that all oficers OF the gov
| eminent receiving more than 81 900 shall pay
| tax OF 2 per cent. which it shall be the duty
| OF all paymasters and disbursing officers to de-
ment. The payment of prize money is re-
garded as an income from salaries, and tho
regular tax collected therefrom
Section 10 amends section 3l67 of the exist
| ing internal-revenue law so that any collector
or other officer internal-revenue agent who
| or manner OF working of any manufacturer or
producer visited by him in collection OF income
tax. shall be subject to a fine not to exceed
81, 900. or Imprisonment for one year, or both,
and shall be dismissed from office and be for
ever thereafter incapable of holding any Office
Section 3I72 is amended so that deputy COL
lectors shall from time to'time proceed through
all persons liable to pay any tax: and shall
make a list of such persons and their ownings..
Section 3l7s is amended so that any person.
partnership. firm. association or corporation
| liable to any special tax or duty not otherwise
provided for: on July /, shall. on the LIST of
March preceding the time when such taxes
are due. make out under oath return of their
dutiable goods or incomes When this is
not done 1t is required that deputy collectors
the power when the proper person can not be
| found in his district to enter any other
collection district where such person may be
found, and to make the examination.
EVASION OR FRAUD.
Section 3l76 is amended so that where the
p erson to be taxed refuses to make return list
or ma kes one which is deemed fraudulent the
collector shall have power to enter the prem
ises and make his own adding penalty OF 20
cent for fraud. The sickness: Or absence of the
party to be taxed gives the collector the right
to allow not exceeding thirty days in which
the delayed list may be offered.
Section II requires every corporation doing
business for profit to make return of amount OF
in such manner as may be prescribed by the
commissioner.
Section ID prescrihes that every corporation
shall make return. BEGINNING with 1895. OF all
the following matters: CD Gross profits: %
annu 5ties and dividends: (2) net profits with.
out allowance for interest. ETC.; a. amount
paid on account of interest. etc, stated sepa-
rately: f5l amount paid in salaries OF 81 900 or
less to each person employed: Is, amount paid
in salaries of more than 5000
Section "A requires every corporation to keep
accurate books for inspection by proper Off
GERS.
Section 30 preScr1beS that taxes imposed up
on dividends. etc. shall lie collected therefro,n
whenever the same may be payable and every
corporation paying a tax thereon may retain
from all payments made on account thereof a
proportionate amount of the tax so paid.
Section IS requires collectors to give full re-
port for all taxes received and separate re.
ceipt for each tax paid " any debtor ac-
count OF payments made by him to
separate creditors in such form that
sue.. debtor produce the same sepa-
rateIy to his several creditors and such re-
ceiptssana lea be sufficient evidence in favor of
such debtor to justify him in Withholding the
amount therein expressed fronthe next pa y
menU to his creditor.
Section 10 provides manner OF fixing salaries
of assessors
Section; 20 declares that no rule established
by the commissioner of internal revenue sh all
be valid without the approv val OF the secre-
tary OF the treasury, nor shall the same
be binding upon any corporation
person not an internal-revenue officer until it
has been printed and conspicuously posted in
the Office Of 1he collector of the district.
Section 2r provides for the prosecution OF
perjury.
Secretary,2s gives the secretary OF the treas
ury or the commissioner OF internal revenue
powerto relieve release from all forfeitures
and penalties imposed by this act in such cases
either OF them may deem proper. except to
penalties imposed hy law for punishment OF a
misdeIneanorrOr other crimes.