Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1903-01-28


part thereof consumed directly BY him his family money
and the value Of all personal property acquired bc gift inner
tance and all other gains profits and income derived from any
whatsoever
SEC POS The profits income of all corporations shall
include the paid payable distributed dis
tributae among shareholders from fund account
rcd to the account of fund used for construction
largents of plant any other expenditure investment paid
from the annual profits made acquired by said corpor
alton.
In computing incomes, the necessary expenses actually in
Cured in carrying business trade profession occupa
property shall be deducted and also all
interest paid by such corporation existing indebted
And all and license fees paid within the year shall
he deducted from the gains profits income of the who
the corporation which has actually paid the whether
such corporation be owner tenant or mogagor also
all losses actually sustained during the year incurred in trade
arising from losses by fire not covered by Insurance. losses
otherwise actually incurred.
Prorded that no deduction shall be made for any amount
paid ont for buildings permanent improvements better
mens made to increase the value of any property estate
Provided further that deduction shall be made for per-
sona family expenses the exemption of thousand dollars
mentioned in Section 200 being in lieu Of same.
Porcd further that where allowable herein only one de.
ducton of thousand dollars shall be made from the
gate annual income of all the members of family composed
of both and minor children or hus
band and wife; that guardians shall be allowed to make de-
dcon in favor of each ward except where two or
wards comprised in family in which the az
grac deduction in their favor shall exceed thousand
dollars.
iFOrided the of
corporation there shall be included the received
from any corporation dividends upon the stock
poraton the tax of two cent has been assessed upon its
net profits by said corporation required by this Act
any bequcst or inheritance otherwise taxed as such.
SEC 20i Every corporation doing business for profit in
any county of the Territory shall make and render the
of the county, between the first and twentieth days of
January of each year. full verified by oath arma
ton of its duly empowered officer in such form the auditor
of the county prescribe of all the following matters for
the whole twelve months ending December 3st last preced
ing the date of such return:
First The gross receipts of such corporation from
made at home abroad and from all kinds of business of
nature conducted in said county;
Second The expenses of such corporation exclusive of inter
est annutes and dividends in said county,
Third The amount paid account of interest, annuties
and dividends stated separately
fomth The amount expended on permanent improvements
rim. The paid in salaries compensation of more
than six hundred dollars each employed and the
and amount paid to each.
Persons corporations doing business in two
ties shall make returns for each county
SEC 205 shall be the duty of all persons of lawful age
having income of six hundred dollars for the preced
from all and of all corporations made liable
income make and render list between the
first and twentieth days of January of each year. in such form
the auditor of the county direct to the of tho
which such corporation resides locate do
business of the amount of their its income gains and profits
aforesaid in said county, and all guardians trustees
administrators agents. and all corporations
persons acting in ducary capacity shall make render a
list aforesaid the of the county in which
such person corporation acting in ducary capacity resides
does business of the amount of income gains and profits of
any person for whom they act and the shall
require every list be verified by the oath ama
ton of the person authorized officer of the corporation max
ing the same.
If person corporation refuse neglect to render such
return within the time required aforesaid renders return
which in the opinion of the Board of Supervisors is false and
fraudulent contains undcrsatcment 1t shall be lawful
for the board such person. any of the officers OF
such corporation person having possession custody
Of
of such person corporation other person
deem proper wherever residing found to appear before
and produce such books time and place named in the
MONS and give testimony nerrogatons under oath
respecting any income liable the returns thereof False
wfu testimony give before such board shall be deemed per-
Jury and punishable such.
SEC 2O6 1t shall be the duty of every person corpora
ton doing business for profit keep FULL regular and
books of upon which all its transactions shall be
tered from day day in regular ORDER which books shall be
open to the inspection of the of the county
authorized by the Board of Supervisors inspect the dur
ing business hours.
SEC. 2O7 When any person corporation having tax
able render