Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1909-07-08

to the gross amount of its income de.
rived from all sources within and with.
out the United States.
Other Dividends Exempt.
The sums paid by 1t within the year
for taxes imposed under the authority
of the United States, or OF any state
or territory thereof All amounts re.
ceived by 1t within the year as div.
idcnds upon stock of other corpora.
tons. Joint stock companies or associa.
lions and insurance companies, subject
to the tax hereby imposed. II Is pro-
from the amount of the net income
of each corporation. subject to the
tax. the sum Of $1,000, the tax being
computed upon the remainder Every
concern subject to the tax is required.
on or before March | of each year. to
make true and accurate return. UNI
der oath or affirmation Of It's president.
vice president or other principal officer
and its treasurer or associate treas
urer, covering the character of its or.
ganization and the amount of business
transacted during the year to the col.
lcctor of internal revenues for the
district in which the corporation is or.
gained. or in the case of foreign cor.
porations. stock companies or insur-
ancc companies in the place where its
principal business Is carried on with
the United States.
The return must. however. set forth:
Cd Total amount Of paid up capital
stock outstanding at the close Of the
! year: l2) total bonded and other in
| dcbtedncss: so gross amount Of in.
come during the year from all sources,
and II organized under the laws of a
foreign country the gross amount of
! its income derived from business
transacted and capital invested with
in the United States: li) amount re.
ceivcd by way of dividends upon stock
! Of other corporations or concerns sub.
! ject to the tax: 90 total ordinary and
necessary expenses actually paid out
of earnings In the maintenance and
operation of the business and prop
critics, and In the case of foreign com.
/ panies the cost Of operation In con.
Quoting business transacted within the
| United States; go total losses actual
I ly sustained during the year and not
compensated by insurance or other.
wise. stating separately any amounts
allowed for depreciation of property,
and I'm tho png, pT inSurnnc, cnnnon To-,
! the sum required by law to be car.
riod to premium reserve fund, and In
the case Of concern organized under
the laws of a foreign country all losses
actually sustained by Il In business
conducted within the United States not
compensated for by insurance or 9th.
erwise, stating separately any amounts
allowed for depreciation of property,
and In the case of insurance com.
I panics the sums required by law to he
carried to premium reserve fund; "a
amount of interest actually paid on
/ bonded or other Indebtedness to an
amount not exceeding paid up capita
stock, or in case of a foreign corpora
ton not exceeding the proportion OF
Its paid mp capital stock. which gross
income from business transacted ant
capital invested within the United
States bears to gross incomes from
all sources within and without tn,
United States; S) amount paid fol-
federal or local taxes: G) net incom,
after making the deductions author
lied.
Local collectors will transmit the re
turns forthwith to the commissioner
of internal revenue In Washington.
To Examine Books.
! Upon evidence justifying the opinion
IS that the return is incorrect, or when