Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-08-16

tons. companies or associations shall in
clude the amounts paid to shareholders or
carried to the account of any fund or used
for construction, enlargement of plant or
any other expenditure or investment paid
from the net annual profits made or &C
Quired by said corporations. companies or
associations. From this provision states,
counties and municipalities are exempted.
also corporations companies or associa-
lions organized and Conducted solely for
charitable, religious or educational pur-
poses, including fraternal beneficiary So
cieties, orders or associations operating
upon the lodge system and providing for
the payment Of life, sick, accident and
other benefits to the members Of such So
cieties, orders or associations and depend
ents Of such members, to the stocks, shares
funds or securities held by any fiduciary or
trustee for charitable, religious or educa-
tional purposes; building and loan associa-
lions or companies which make loans only
to their shareholders; to such savings
banks, savings institutions or societies as
shall, first. have no stockholders men,
bers except depositors and capital
cept deposits; secondly, shall not receive
deposits to an aggregate amount In any one
year Of more than $1,000 from the same
depositor; thirdly, shall not allow an &C
emulation total of deposits by any one
depositor exceeding $1,000; fourthly. shall
actually divide and distribute to its de-
positors, ratably to deposits. all the earn
ings over the necessary and proper eN-
penses Of such bank. institution society,
except such as shall be applied to surplus
filthy, shall not possess, in any form.
surplus fund exceeding 10 per centum Of its
aggregate deposits, nor to such savings
banks. savings institutions or societies COM
posed of members who do not participate
in the profits thereof and which pay inter-
est OF dividends only to their depositors; nor
to that part of the business OF any savings
bank, institution or other similar associa-
ton having a capital stock that Is con-
Quoted on the mutual plan solely for the
hon n denOSitOrS
which shall keep its accounts of its bust
ness conducted on such mutual plan sepa-
rate and apart from its other accounts.
Nor to any insurance company or associ-
alton which conducts all its business solely
upon the mutual plan. and only for the
benefit of its policy holders or members. and
having no capital stock and no stock
Shareholders and holding all its property in
trust and in reserve for its policy holders or
members; nor to that part Of the business
of any insurance company having a capital
stock and stock and shareholders. which is
conducted on the mutual plan separate from
its stock plan Of insurance and solely for
the benefit of the policy holders and mem
bers insured on said mutual plan and hold
ing all the property belonging to and de-
rived from said mutual part of its business
in trust and reserve for the benefit of its
policy holders and members insured on said
mutual plan.
All state and local taxes paid by corpora
lions, companies or associations shall be in
cluded in the operating and business ex-
associations.
Deduct the Tax.
On all salaries Of officers or payments for
services to persons in the civil, military.
naval or other employment or service of the
United States, including Senators and Rep
resentatives and Delegates in Congress
when exceeding the rate of $4,000 per an
mum. a tax Of per centum on the excess
above the $4,000. Paymasters and disburs
ing officers under the government Of the
United States, or persons in the employ
thereof, when making any payment 10 any
officers or persons aforesaid, shall De,
duct and withhold the aforesaid tax
Every corporation which pays to any en-
ploye the salary or compensation exceed
Ing A.Uo per annum shall report the same
to the collector or deputy collector of his
district. and said employee shall Fay the tax
due to state. county or municipal offices
shall be exempt from the income tax. II
is further provided that IL shall be unlawful
Tor any collector or other officer or employee
OF the United States to make known in any
manner not provided by law the facts
which may come to his knowledge in the
discharge of his official duties about the
business OF any manufacturer or producer
or any facts contained in any income re-
turn. 1t is made unlawful to print an in
come return or any part thereof. and any
such onense is punished by fine not exceed |
ing $l,oO0 or by Imprisonment not exceed
Ing one year. or both. and IL the offender
be an officer or employe Of the United
States he shall be dismissed from Office and
be incapable thereafter Of holding any Office |
Under the government
Returns of Corporations.
Every corporation. company or associa- |
ton doing business for profit shall make
and render to the collector of its collection
district on or before the first Monday in |
March Of every year. beginning with the |
year 1896. full return. by oath or |
affirmation, in such form as the commits
sioner Of internal revenue may prescribe of |
all 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 all kinds |
OF business, Of every name and nature
second. The expenses OF such CORPORA
ton, company or association, exclusive of /
interest, annuities and dividends.
Third. The net profits of such CORPORA
ton, company or association, without al |
lowance for interest annuites or dividends
Fourth. The amount paid on account of
interest, annuities and dividends, stated /
separately. |
Fifth. The amount paid in salaries Of |
1900 or less to each person employed.
sixth. The amount paid in salaries Of |
more than $4,000 to each person employed,
and the name and address of each of such
Ha.ayC ElUaD