Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1894-08-28
Tue INCOME TAN

NOW iphl tht AaIlu VII uN wv
allowed by the President to becom
law-though by his failure 10 sign !
the chief magistrate makes u clea
thstitis not to bis likirg-she par
tlculsr details that affect this part o
the country are Of special interest II
this regard the News IL requested Il
give the income tax provisions, which
are likely 10 be brought prominently
before the courts Of the country, IL
the cases In which senstor HIN hal
been engaged a. an attorney Il
contest the consliluilonallty Of the
law, n need DO TO the Highest TIL
bunal Of the land. The special ground
81 contest hns not been designated
further iban the claim that the Income
tax part OF the tariff bill 10 character
ired ~ being class legislation.
The income tax division Of the law
10 too extended To give 10 full, as II
would make nearly q page Of The
paper, but the substance OF tho measure
which Ia expected u raise $40, 900, 900
revenue annually Tor the government
Tor hNe year., ana 70 Whloh some
Utah men aud a number Of corpora
uons doing business here VIII
be asked to contribute VIII be
placed before our readers. The
opening section provides that from
a.
aud after January j, 1890, and until
January !, 1900, there shall be assessed,
lsvied, collected and paid annually,
upon the Income received In the pre-
ceding calendar year by any person
residing In the United States, or any
Of its citizens abroad, tax OF two per
cent ON the amount derived over 8 900.
All corporations, companies or nso.
Citations, eIceptlpartnefships, come un.
der the rule. But states, counties,
munloi palities; charitable, religion.
aud educational associations; fraterns
bsneh clary societies; building aud loan
associations which loan only to mem
beu; certain classes OF saving. banks
aud mutual Insurance. associations ars
exempted from payment Of the tar.
Ia computing incomes, all business
snpenses, state, school, county an
municipal taxes, losses sustained dul
Ing the year aud not compensated 10
by Insurance Except depreciation O
values ON real estate purchased within
Two yeafsh and debts Ascortainoi 10 b
worthless are TO be deducted. Blu
there Is no deduction made for new
buildings OF for improvements made tC
Increase The value OF any estate, Onli
one deduction OF 5000 10 to be mad'
from tue aggregate Income OF the MON
bera OF any family, composed OF one o
both parents aud one or more mino
ehildreni guardians may make a ID
duotion tot each ward, except wher
two or mere are complied In on
family and have Joint property inter
esbi dividends OF Income tAK'pAyln
computations are also deducted.
livery person OF corporation havin
an ineoms OF over $500 Tor the tar
Aoie year must make = return thereo
In case Of failure 10 do this, a tax (
nfty per cent additional on the incou
tar Ia levied A. Apsnslly. Appea
may DO made to the commi,sions
OF internal revenue; otherwis
the decision OF the collector {
the district shall DO nnAl. Tn
income tax lie made payable on or b.
tore the nrss day Of July OF each yea
and = default Of ten days by any pei
.on liable means penalty Of i've pc
cent on the amount Of taxes unpai
and one per centA month interest, "a
oeps from tho estates Of deceased, "a
sane or insolyont persons. Corp0r.