Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1913-10-30

80
$50 sas
ton, affecting &c operation Of the
shove proTislons
I.Tinlc Ter llIking. ont license md
films. bond -fer c6lIccfingf foreign
Items Under inc0me-tax law extend 10
December [, 1918. application 70 col.
lecter for license required before do
ing business
Nothing In this section shall be
construed to release 4 taxable per
son from liability for income tax. nor
shall any contract entered into after
this act takes effect be valid In re-
gard to any federal income tax i'm
posed upon person liable to such
payment
The taxs- herein imposed upon an
snuaI gains. profits. and income not
falling under the foregoing and not
returned and paid by virtue Of the
foregoing shall be assessed by per-
fsonal return under rules and regular
tions to be prescribed by the COM
missioner of internal revenue and APP
proved by the secretary Of the treas
RurR
The provisions OF this section re-
lating to the deduction ana payment
of the tax at Che source Of income
shall only apply to the normal tax
|hereinbefore imposed upon individ-
|uals.
Liable to Penalty.
F. That II any person, corpora
ton. joint-stock company. ass0cia-
ton. or insurance company liable to
make the return or pay the tax afofe-
said shall refuse or neglect to make
a return at the time or times herein.
before specified IN each year. such
person shall be liable to q penalty Of
not less than sac nor more than
$1,000. Any person or any officer Of
any corporation required by law to
make, renderss sign or verify any re-
turn who makes any false or fraudu-
lent return or statement with intent
to defeat or eyade the assessment re-
quired by this section to be made
shall be. guilty on misdemeanor. and
shall be fined not exceeding $4,000 or
he imprisoned not exceeding one year,
or both, at the, discretion Of the court,
with the costs Of prosecution.
G. Ia That the normal tax here
1inbefOre imposed upon individuals
likewise shall be levied, assessed. and
paid annually upon the entire net In
come arising or accruing from all
sources during the preceding calen,
dar year to every corporation, joint
stock company or association. and
every insurance company organized
in the United States, no matter how
created or organized, not including
partnerships; but II organized, au
.thorized, or existing under the laws
of any foreign country, then upon the!
amount of net income accrhing from
business transacted and capital In.
vested n the United States during
such year: Provided, however, That
nothing in this section shall apply to
labor, agricultural, or horticultural or.
carnations or to mutual savings
hanks not having a capital stock re-
presented BY shares. or to fraternal
beneficiary societies. orders or assD-
citations operating under the dodge
system or for the exclusive benefit OF
the members Of fraternity itself OPP
Grating under the lodge system, and
providing for the payment Of life.
sick. accident, and other benefits to
the members Of such societies, or
ders, or associations and dependents
of such members, nor to- domestic
building and loan associations, nor to
cemetery companies. lorganized and
operated exclusively for the mutual
benefit of their members, nor to any
corporation or association organized
and operated exclusively for reli-
gious, charitable. scientific, or eduea.
rtional purposes, no part Of the net
income of which inures to the bene.
fit Of any private stockholder or In
sdividual, nor to business leagues, nor
to chambers of commerce or boards
OF trade, not organized for profit or
no part OF the net income Of which
jnures to the benefit OF the private
|st0ckhoIder or individual; nor to any
civic league or. organization not or.
ganized for profit, but operated exs
clusively for the promotion of social
welfare: Provided further, That there
shall not be taxed under this section
any income derived from any public
utility or from the exercise of any es-
sential governmental function accru-
ing to any state, territory, or the Dis
trict of Columbia. or and political sub
division Of a state, territory or the Dis
Etrict of Columbia, nor any income ac-
cruing to the government Of the Phil
ippine Islands or Porto Rico, or Of
any political subdivision Of the Phil
lippine Islands or Porto Rico: Pro-
vided, That whenever any state, ter
ritory, or the District of Columbia, or
any political subdivision of state or
territory, has, prior to the passage of
this act. entered in good faith into a
contract with any person or corpora
ton. the object and purpose Of which
is to acquire, construct operate or
maintain public utility. no tax shall
be levied under the provisions of this
act upon the income derived from the
operation of such public utility, so far
as the payment thereof will impose
loss or burden upon such state, ter
ritory, or the District of Columbia, or
- n Ia A.