Vernon County censor. [volume] (Viroqua, Wis.) 1865-1955, 1912-02-28
INFORMATION FOR PEOPLE
SOME LIGHT ON SUBJECT OF IN
COME TAX
The District Assessor Discusses and
Enters Into Explanation of the
Vexed Proposition


The time for assessment under the
new income tax law being at hand will
try and enumerate some of the main
features of the law in the hope that
the same may be of some assistance to
those who are required to make re-
turns. To begin with, let me state that
there is existing in the minds of SOME
people lot of unnecessary alarm and
anxiety concerning this law, owing
partly to lack of information and partly
to misrepresentation made by those
who are opposed to it. Whatever our
feelings toward the law may be it has
been placed upon the statute DO Jks by
the people of the state of Wisconsin,,
and it is our duty as citizens to give it
fair and impartial trial. With this
end in view | ask the cooperation of
the tax payers of the district so that
the work may be properly and expedi-
tiously handled 1t is by no means a
small task for this the first year esps-
cially to undertake the assessments of
three counties, Crawford, Richland
and Vermont The assessor of incomes
is also to do the work heretofore per-
formed by the supervisor of assess
ments.
/. The assessment will be levied on
! incomes received during the calendar
year 1911, and the tax will be paid when
other taxes are paid in December 1912,
or January 1918. M
| 2. me term income Includes:
/ All rent of real estate, including the
estimated rental of residence property
occupied by the owner thereof.
| All interests derived from money
/ loa ned or invested in notes, mortgages,
( bonds or other evidence of debt of any
kind whatsoever.
All wages, salaries or fees derived
] from services; provided that compensa-
I ton TO public officers for public service
shall not be computed as a part of the
| taxable income in such cases where the
1 taxation thereof would be ropugnant
/ to the constitution.
! All dividends or profits derived from
stock or from the purchase and sale of
4 any property or other valuables ac-
quired within three years previous or
I from any business whatever.
All royalties derived from the pos
| session or use of franchises or legalized
privileges of any kind.
And all other income of any kind de-
rived from any source whatever except
such as Is hereafter exempted.
In computing your taxable income
you are allowed certain exemptions and
deductions.
The exemptions are:
TO an individual income up to and in
Guiding $500.
To husband and wife 81, 200 and for
each child under Is years of age 5000.
For instance, a man and wife and
four children would be exempt $4,000.
The principal deductors are:
! Ordinary and necessary expenses of
business, occupation or profession.
Losses during the year not compen-
stated by insurance.
j Dividends or income received from
firm Or corporation the income of which
has already been assessed.
Pensions.
Taxes paid during the year on the
business or property from which the
income is derived
i 4. The rate of taxation is as follows:
per cent on LIST $1,000 taxable income.
II per cent on the End 81, 900.
u per cent on the Bird 81 200.
II per cent on the 4th 81 900
2 per cent on the 9th 81 900.
"a per cent on the 9th 81 200.
/ A man and wife and two children re-
ceiving a salary of SIS, cooper year would
have taxable income of 5000 less
81, 500, which equals So, 400. His tax
win be:
per cent on lst ST, 900 ......... $40 90
II per cent on End ST, 900. .... ~ so
Ii per on Bird 1000 ............ Is 90
* per cent on $500. TOO
Total. :. ..,,,.,..,.,.,..,,, S44 so
5. The exemption allowed to an in
dividual do not apply to firm; but a
firm may deduct among ordinary and
necessary expenses salaries paid to
members of the firm.
6. If you pay a personal property
tax for the year l912the receipt there
Of will be accepted by the treasurer to
lis full amount in the payment of your
income tax neyt December or January.
z. Pianos, watches, household fur
niture, jewelry and farm implements
are exempt from taxation hereafter.
This article will be followed next
week by another stating more facts and
giving information regarding blanks
which will be mailed you in the near fa-
ture. I. J. BERGEN,
Assessor of Incomes.