Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1912-03-27
THE INCOME TAX LAW
EXPLAINED BY CLEARY
Assessor for This District Ad-
dressed a Meeting Here
Last Wednesday Night-Law Will be
Unpopular in Many Respects and
Costly to Operate.

IQdG OI Ju6 u6W SGdG6 INCOME TAX law,
which goes into operation in Wiscon-
sin this spring, as applied to incomes
of 1911. About 10 days ago blanks
were sent by Mr. T. L. Cleary, of
Platteville, who is income tax as
SCISSOR for Grant and Iowa counties,
to such persons as he considered
might be subject to the new tax, and
a goodly number of Lancaster people
received bulky big envelope con-
tanning blanks upon which to fill out
a report concerning their receipts and
expenditures during the past year,
from which figures are to be found
their gross and net income for 1911.
Many persons did not get a blank
and Mr.. Cleary explained in a talk
which he made at the county court
room here on Wednesday evening that
he had as yet only sent out portion
of his blanks and had about $500 yet
to send in this district.
Wednesday evening was a very
stormy and disagreeable Que, but in
spite of that fact and that the meet
ing had originally been announced to
be held in the city hall, the court
room was filled to about it's capacity
by business men and other citizens,
most of whom had received blanks
and had them in their pockets at the
meeting. It is not likely that one
man in ten can properly fill out one
of the blanks in its entirety without
further explanation or instruction
than is contained in the printed in
structions accompanying the return
blanks
For this reason the assessor has
found it necessary to hold meetings
in various points in the district to
explain the law. In fact there are
points in the law, which were raised
at the meeting here. regarding which
the assessor stated that he himeslf
was not fully clear.
It was originally provided by the
state, tax commission that the ques-
tions asked in the blanks must all be
answered and returns made TO the as
SCISSOR by April l, but it is now an
nounced that owing to the compIexity
of the law the time has been extended
to April Is.
Much interest was manifested at
the meeting and many questions were,
asked. It is the expressed purpose of
the law to gather in under its provi-
siOns taxes from many persons who
have hitherto escaped taxation, such
as persons who draw salaries in
excess of $500 per year but who have
no personal property upon which they
have hitherto had to pay a tax and
others with incomes that have not
been of nature that were heretofore
made taxable.
The rate of assessment is as follows
Per cent
First $1,000 or part thereof L
Second $1,000 or part thereof. IL
Third $1,000 or part thereof IL
Fourth $1,000 or part thereof ~
Fifth $1,000 or part thereof. .....2
Sixth $1,000 or part thereof -. .215
Seventh $1,000 or pat thereof %
Eighth $1,000 or part thereof 81
Ninth $1,000 or part thereof A
Tenth $1,000 or part thereof AZ
Eleventh $1,000 or part thereof. 10
Twelfth $1,000 or part thereof =. 81
Any sum over $12, 000.... ....6
THIS SUBJECT TO TAX
Taxable income includes:
(a) Rent of real estate, including
the house you own and occupy
(b) All interest money received
from any source.
(c) All wages, salaries or fees for
services.
(d) ALI dividends or profits from
stock or from purchase and sale of |
property acquired within three years.
(e) All royalties.
(f) All other incomes except for
the following:
EXEMPTIONS.
(a) Single persons up to and in.
Guiding $500.
(b) Husband and wife up to and |
including $1,000 and for each child |
under Is years 5000 additional Thus
man and wife and three children !
would be exempt $500. If this man
received a salary for the year 1911 of
$4,000 his taxable income would be
200 His tax would be per cent on
5000 or So.
REDUCTIONS FOR EXPENSES.
By taxable income is meant net IN !
come after taking from gross income
the above exemptions and also certain