The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1901-06-26
FACTS ABOUT INCOMES
TAX COLLECTOR AFTER THEM
NEXT WEEK.
Number of People Making over $500 a
Year Estimated at About S,O0O.
Statements Demanded.

Tax Collector Shaw has had 5000
blanks printed for income tax returns
throughout the islands. 1t is estimated
that there may be about this number
of persons who have incomes of over
5000 year all such being compelled
under the law, to make sworn state
ments to the tax collector.
The blanks will be distributed to all
the firms doing business in the terri
tory, one for each firm and one for
each member or employe who is
thought TO make 5000 a year. All the
returns are to be secured between the
1st and 3lst of July. The scope of
information required under oath from
every person or corporation having an
income of $500 a year is shown in the
following list of facts to be supplied,
the information to cover the year end
ing July l, 1901.
interest upon bonds, notes, and other
securities, Profits on sales of Real es-
tate, Gncluding leaseholds) purchased
within two years, Dividends on corpo-
ration stock, Premiums on bonds,
notes and coupons, Sales of Movable
Property of every description, Money
and the value of other Personal Prop
erty acquired by gift or inheritance,
Salaries, fees, and other compensation
for services, *Amounts paid or payable
distributed or distributable to share
*Amounts carried to the account of any
fund or used for construction or en-
largement of plant and other expen-
ditures or investments paid from met
annual profits, All other gains, profits
and income from any source.
The next information required by the
tax collector is as to expenses and ex-
emptions to be deducted, as follows
Interest on Bonds of the Territory OF
Hawaii, Amounts expended in the pur'
chase or production of movable proper
ty mentioned in Schedule "a" Neces-
sary expenses actually incurred in
carrying on the business, trade, pro-
fession or occupation, or in managing
the property Gas the case may be-
Taxes and license fees paid to the gov
ernment, Actual losses incurred in
trade, Actual losses arising from fire
and not compensated for by insurance
Losses otherwise actually incurred
Dividends on corporation stocks receiv-
ed from corporations which have beer
assessed upon it's net profits the tax o.
two per cent Bequests and inheritanceS
otherwise taxed as such, Exemption o.
income of $1,000
Corporations are also to show. Gros:
receipts from sales made at home ant
abroad and from all kinds of business
of every name and nature; Expense, ex
elusive of interest, annuitieS and divi
dends and permanent improvements
Amount paid on account of interest
annuities and dividends, stated separa
tely; Amount expended on permanent
improvements and amount paid in sal
aries of more than 5000 per annum tC
each person employed.
Many people, it is thought, will mo-
be able to supply all the facts asked fo
by the new law. There is expected tt
be much trouble in getting statement.
from a number of causes, especially
from Chinese and other foreigners. Any
one who fails to make return ol
makes false return &c to be assessed
by the assessor at what he thinks Il
right with 200 per cent added to the
fair eetimate.