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

doing business by such corporation,
Joint stock company. association or in.
surance company. equivalent to > per
rcntum ON the entire net income over
and above $4,000 received by It from
all sources during such year. exclusive
Of amounts received by II as dividends
on stock of other corporations, joint
stock companies or associations or in
surancc companies subject to the tax
hereby imposed or II organized under
laws of any foreign country on the
amount of net income over and above
$1,000 received by It from business
transacted and capital invested within
the United States and its territories
Alaska and the District of Columbia.
during such year, exclusive of amounts
so receive by 1t rs dividends on stock
OF other corporations. joint stock com.
panies or associations o. insurance
companies. subject to the tax hereby
imposed.
Such net income shall be ascertain.
ed by doductlng from the gross amount
of The income of such corporation.
joint stock company or association or
insurance company from all sources.
Losses Provided Fer
All losses actually sustained within
the year anl not compensated by In.
surance or otherwise, including a rca.
sonable allowance for depreciation OF
property II any. and In the case Of In.
surance companies the sums required
by law to be carried to premium re.
serve fund.
Interest actually paid within the
year on its bonded or other indebted.
ness not exceeding the paidup capital
stock of such corporation. Joint stock
company or association or insurance
company, outstanding at the close of
the year.
All sums paid by II within the year
for taxes imposed under the authority
of the United States or any territory
thereof.
All amounts received by It during
the year as dividends on stock of other
corporations. joint stock companies or
associations or insurance companies
subject to the tax hereby imposed.
Provided that in the case of a cor.
roration, Joint stock company or asso-
citation or insurance company, organ.
ICED under the laws OF II foreign coun.
try, such net income shall be ascer-
tanned by dcducting from the gross
amount uf its income from business
transacted and capital invested with.
In the United States and any of it's ter.
rltorics. Alaska ana the District of
Columbia
All the ordinary and necessary ex.
pcnses actually paid within the year
out of earnings in the maintenance
and operation Of its business and prop.
crty within the United States and Its
territories. Alaska and the District OF
Columbia.
All losses actually sustained within
the year In business conducted by Il
within the United States, not compen.
stated by insurance or otherwise. in.
GLIDING reasonable allowance for de.
probation of property. and in the case
of Insurance companies the sums re-
CURED by law to be carried to premium
reserve funds.
Interest actually paid within the
year on its bonded or other indebted.
ness 10 an amount of such bonded and
other Indebtedness not exceeding the
proportion of its paid up capital stock
outstanding at the close of the year,
which the gross amounts of its income
for the year from business transacted
and capital invested within the United
States and any of its territories. Alas.
ka and the District of Columbia, bear