The Manitowoc pilot. [volume] (Manitowoc, Wis.) 1859-1932, 1912-02-29

Wisconsin corporations licensed to
do an interstate business are required
to report to the tax commission. They
must give amount of capital stock and
bonded debt outstanding at end of the
year and kind OF business Questions l,
2, 3), then answer these other quest
ions among many besides:
GROSS INCOME.
From operation of business stated
above mot including items b to y
From rent of real estate
Interest on notes secured by mort
gage
Interest on unsecured notes or other
Indebtedness
Interest on bonds
Dividends on stocks of other corpora
tions; also names of such corporations
Profits derived during 1911 from sale
of any property purchased within three
years previous to date of sale; also from
whom bought, to whom sold and
amounts
Royalties from use of franchises or
Legal privileges of any kind Including
From other sources not above speci-
fled.
A. TOTAL GROSS INCOME.
Table of Rates.
The tax to be assessed, levied and
collected upon the incomes of all per-
sons, except as otherwise provided by
law, after making such deductions and
exemptions as are hereinbefore allow
ed, shall be computed at the following
rates, to-wit:
On the first one thousand dollars of
taxable income or any part thereof, at
the rate of one per cent;
On the second one thousand dollars
or any part thereof, one and one-fourth
per cent;
On the third one thousand dollars or
any part thereof, one and one-half per
cent;
On the fourth one thousand dollars
or any part thereof, one and three
fourths per cent;
On the fifth one thousand dollars or
any part thereof, two per cent;
On the sixth one thousand dollars or
any part thereof, two and sope-half per
cent;
On the seventh one thousand dollars
Or any part thereof, three per cent;
On the eighth one thousand dollars
Or any part thereof, three and one-half
per cent:
On the ninth one thousand dollars or
any part thereof, four per cent;
On the tenth one thousand dollars or
any part thereof, four and one-half per
cent;
On the eleventh one thousand dollars
or any part thereof, five per cent;
On the twelfth one thousand dollars
or any part thereof, five and one-half
per cent;
On any sum of taxable income in ex-
cess of twelve thousand dollars, six
per cent.
DEDUCTIONS.
5. Payments made within year for
services of officers, agents and
employees actually employed in produc-
tion of above gross income
6. Other ordinary and necessary ex-
penses actually paid within year out of
income in maintenance and operation
Of business and property of corporation
including reasonable allowance for de-
probation of property from which the
income is derived and not including
stated in answer to questions
to 10
(a) Amount paid for material and
goods
(b) Paid for repairs
(c) Paid for rent of business prem
ses
(d) Depreciation not included in re-
pairs
(e) Miscellaneous
Total
7. Losses actually sustained within
year and not compensated by insurance
8. Taxes paid in 1911 upon source
from which income is derived
8. Dividends or income received
from firms or corporations which are
assessed for income tax; also dividends
declared and to whom paid. If cor
poration pays on dividends, the indivi-
dual need not pay.
Note.-If the dividend or income is
received from firm or corporation
which is doing business both within
and without the state, the deductions
should be for such proportion only as
the income assessed to the firm or cor
poration in the state bears to the total
net income within and without the
state.
10. So much OF interest on bonds Of
other corporations as is assessed to
"tho bondholders Of" such corporations
under section l0S7m-3 (b) Of the law.
B. Total deductions.
TOTAL NET INCOME Deduct B
from A
C.-Deduct amount received from
rentals, stocks, bonds, securities, and
other evidences Of indebtedness
Note.-The items specified above in
G are taxable whether derived from
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