Perrysburg journal. (Perrysburg, Wood Co., O. [Ohio]) 186?-1965, 1894-12-22
YOUR INCOME.
It Is to Be Subjected to Searching
Examination.
II 1t Amounts to $4,000 or Moro You
Must Pay Tribute of Two Per Cont
A Statement of What Is Taxable
and What Is Exempt.

ICSluluE uOlDR LII bhG OnlbSU
States, who has an annual income
of more than $500, is required to
make return under oath before the
first Monday in March of each year.
The first re turn is to include all income,
received in the year 1894, from
January / to December 81 Guar
dians, trustees and all corpora
tions acting in any fiduciary
capacity are required to make similar
returns for minors, wards or benefici-
aries Persons having less than $500
annual income are not required to
make returns All incomes of $4,000
and over are taxable 2 per cent. The
person making returns is required to
make affidavit that he has included in
said return all gains, profits and income
from every source whatever received
by him or TO which he is justly en-
titled for that year, and that he is
honestly and truly entitled to make all
the deductions entered on his returns
and that he has truly answered the
interrogatories set forth on said blank
form.
The gross gains, profits and in
comes returned by persons shall in
clude:
II. Gross profits of any trade, business or vo-
cation, wherever carried on
80 Rents received or accrued during the
year.
''3 Profits from sales OF real estate pur-
chased within two years.
~ Farming operations and proceeds.
"5 Money and value of all personal property
acquired by gift of Inheritance
"6 Premium on bonds, stocks, notes and cou-
pons.
~ Income from trade or profession, not by
stated salary, and not heretofore enumerated.
"S From salary or compensation other than
that received from the United States.
o"9 Undivided gains and profits of any part
nership
10. Interest received or accrued from all
notes, bonds or other securities.
I'll. Interest on bonds or coupons paid oi any
corporation.
"12. Dividends from corporations.
ia Income Of wife or minor child or chill
dren.
IA All other sources of income not above
enumerated"
The deductions allowed on the re-
turn and therein enumerated are:
II. Four thousand dollars exempt by law.
20 Interest due and paid within the year
% National, state, county, school and mu-
nicipal taxes paid. not including assessments
for local benefits
~. Amount expended in purchase or produce
ton OF live stock or produce sold within the
year
"5. Necessary expenses. specified by items,
actually incurred in carrying on any business
or trade.
SO Losses actually sustained during the
year specified
~. Actual losses on sales OF real estate pur-
chased within two years.
"s. Debts contracted and ascertained IN the
year to be worthless.
20. Salary or compensation over $4,000 from
which the tax of 2 per centum has been with
held by disbursing officers OF the United States
government
10. Dividends included In the estimate of
gross profits from corporations on which the 2
per cent. tax has been paid by such corpora
ton"
The annual return of corporations
must include:
II. The gross profits Of all kinds OF business.
"2 The expenses, exclusive of interest, an
nuities or dividends.
"3 The net profits without allowance for In
terest, annuities or dividends.
~. The amount paid on account OF interest,
annuities and dividends.
Is. The amount paid In salaries OF $1,000 or
less to each employe
&c. The amount paid In salaries OF more than
1900 to each employe and the name and ad
dress OF each of such employees.
The gross profits include:
II. All profits of any trade or business.
"2 Interest or coupons from bonds or other
securities of any corporation.
"3. Dividends received from any corporation.
~ Undivided profits OF any corporation.
"5. Premium on bonds, notes and stocks.
''6. Commission or percentage.
~. Interest on government securities not
exempt by law.
"8 Interest on other notes, bonds and securi-
ties
20. Profits from sales OF real estate
40 From rents
al. Profits from all other sources to be
enumerated"
Certain specified corporations for
charitable and like purposes and GER
tain savings banks, mutual insurance
companies and building and loan asso-
Citations, are exempt from income
tax. In such cases it is
held by the department that
the intention of the exemption
is to extend its benefits to the small
depositors and benefciaries of such
mutual and savings institutions, and
that the corporations as such and
those who speculate in the shares,
stock or funds are not the intended
benefciaries of the exemption.
1t is provided that no part of the
salary, fees or emoluments of any
state, county or municipal officer shall
be subject to income tax, and no re-
turn thereof shall be made of the sal
ary or fees of such officers, Salary re-
ceived by government officials in 1894
shall be included in the first annual
return to be made on or before the
first Monday in March, 1895.
If any person fails to make return,
or makes false return, the collector
is to make return for him from evil
dence obtained by summoning the per-
son and examining his books and from
all other evidence obtainable, and
shall add so per cent. to the amount OF
tax found due as a pentalty for neglect
and 100 per cent. penalty in case of a
fraudulent return.
Severe penalties are imposed upon
nll officers and other persons who
make known, in any manner, any fact
or particulars contained in or relating
to an annual return of any taxpayer,