Arizona republican., 1910-02-19
ATTENTION CALLED TO
 IMPORTANT MATTER
THREE OF THE BUSI- NESS MEN ARE DIRECTLY
 CONCERNED.
Only a Few Days More In Which to Make Reports to Revenue
 Officials.

It is altogether likely that any where between dozen and five hun dred Phoenix corporations, associa
 tions and stock companies will be caught mapping and be held up for from sl,0OO to s1O.O00 fines by the United States revenue officials for failure to comply with the new law in making proper reports on their and filing them before March 1st. At least that will be the case unless local corporations get very busy dur ing the few remaining days of grace. Corporations In Arizona should mail their reports to Fl. P Bardshar. col lector of internal revenue at Santa Fe. Those in and near this city may secure blank forms by applying to F. R. Crandall of the revenue ser, ice at the Ford hotel. There is no charge for the blanks.
 So much has been heard about this new law and so much has been print ed about corporations generally. that most people pay little attention tJ what they hear Most people who have given attention to this new law have noticed that they are exempt from any excise tax unless the net profits of their business have been in excess of s5.000. But that is not sIf- ficient The law requires every cor poration. association and stock com pany to make a report. The gov ernment will scan the report and be the judge as to whether the corpora tion owes tax. The great danger now is not so much that corporations will be taxed, but that they will for get to make reports. and thus become amenable to the law. The failure to make proper reports carries it's ;,en- alties with it, but the penalties above named are for failing to make any report at all. It is not enough that a corporation has done nothing in the past year. but it is required that it shall demonstrate that fact to the government.
 In these days nearly all business is done by corporations, associations or stock companies Probably three-fourths of the stores. real estate offices. in surance agencies, business houses. markets, liquor houses. etc. in this city come under the law. and while many of them do not show net profits exceeding 5000. all of them must make reports by March 1. From a bulletin issued by the revenue de- partment. the following paragraphs are reproduced, and it will be w;se for every business man who holds stock in anything either as paTt- nership or in a corporation. to read them. Attention is also called to the fact that this means mining comp1 nies as well. There are probably scores of incorporated mining com panies in Phoenix which have prac- tically done nothing during the past year That fact. or the fact that their properties may have proved of little or no value will not save them. They must report just the same.
 Every corporation. joint stock com pany. association. or. insurance com pany not specifically enumerated as exempt shall make the return re- quired by law. whether it may have net income liable to tax or not.
 "Thc attention of collectors and others is specially called to the fact that the tax imposed by this section of the law applies to all corporations. joint stock companies. associations. or insurance companies described (ex- cept those specifically exempeted). without reference to the kind of busi- ness carried on. and that the tax is to be computed upon the net income of such corporations. joint stock com panics. associations. and insurance which shall be calculated by subtracting from the gross income received from all sources during the year certain deductions specifically set forth in the statute
 If any of the corporations. joint stock companies or associations. or