The Bottineau courant. (Bottineau, Bottineau County, N.D.) 1895-1929, 1913-10-10
FEATURES OF THE
INCOME TAX Law

Al S3,UUU Annually.
MORE FOR FAMILIES
Additional Taxes For Incomes Above
$4,000, Increasing Until The Maxi
mum Of 6 Per Cent 10 Reached on
the Excess Above $soo.ooo-Psna't'rs
For Failing to Make Reports.
The income tax feature Of the new
tariff law, made possible by the adOp
ton Of an amendment to the federal
constitution. marks = new feature III
tariff legislation. 1t 10 expected 10
yield an annual revenue ~-exceed3sg
$100.O0O.O0O. which makes possible tho
reduction Of tariff duties.
Under the terms Of the lev law a
tax Of I per cent will be levied on ali
incomes in excess Of 5000 with Ger;
tain exemptions. The bill provides
that there shall be IAN additional tax
Of l per cent per n upon the
amount by which the total net income
exceeds $4,000 and does not exceed
$4,000. and 9 per cent per annun,
upon the amount by which the total
net income exceeds $4,000 and dOsr
not exceed $4,000. 8 per cent per AZ.
nun upon the amount by which the
total net income exceeds $4,000 sDd
does not exceed 100000. 4 per cent
per mum upon the amount BY which
the total net income exceeds 100000
and does not exceed $25O.OOO, 5 per
cent per annum upon the amount by
which the total net income e1ceeds
325O,OOO and does not exceed 100000
and 6 per cent per annum upon the
amount by which the total net income
exceeds S6OO. 900"
individuaIs 70 Make Rsturns.
Every person subject to the incoMc
tax must make q report Of his incOHr
to the collector Of internal enu IN
the district in which he lives or In
which his business Is carried on.
In defining what shall be considered
income for taxation. the bill says:
Subject only to such exemptions
and deductions as are hereinafter NJ.
lowed. the net income Of a taxable
person shall include gains, profits and
income derived from salaries. wages
or compensation for personal service
of whatever kind and In whatever form
paid. or from professions. vOcatOns.
businesses. trade. commerce or saleT ar
dealings in property. whether real or
personal. growing out Of the o ownership
or use Of or interest In. real or personal
property; also from interest. rent, 41yte-
dends. securities or the transaction Of
any lawful business carried on for gain
or profit or gains or profits and income
derived from any source whatever, In
GLIDING the income from but not the
value Of property acquired by gift, b.
quest. devise or descent. provided that
the proceeds Of life insurance policies
paid upon the death Of the person in
sured or payments made by or credited
to the insured on Nfe insurance. eN~
dowment or annuity contracts upon
the return thereof to the insured at.thc
maturity Of the term mentioned in the
contract or upon surrender Of the rOM-
tract shall not be included as %iDcOsnc'
The provisions Of the bill for exe'np..
lions as finally agreed on are:
There shall be deducted from the
amount " the net income Of each 81
said persons. a~scertained az prov idedi
herein. the sum Of $1,000 plus 81 noe
additional II the person making thu re-
turn he u married IA with a wife.
living with him and being herself moi
taxable under the income tax Law r
plus the SIM Of $1,000 additional is &c
person making the return I've q mar Il
woman with a husband living with ,-r
and being himself not taxable under
the income tax law. but IN III event
shall this additional exemption Of 81
600 be deducted by both =. husband
and a wife"
Foreign Residents 70 De- Taxed.
The bin contains provisions for the
taxation IT the incomes Of citizens. re-
siding IL foreign countries IN. iBrsn,cs
derived from property OWNED, M bns,-
nes carried on in the United STATES.
The bin also provides:
THAT II any person. corporation.
joint stock company. association or ts.-
surance company liable TO make the
return or pay the tar aforesaid shall
refuse Or neglect to make q vetOrR ~
the time or times heSsisbsfoPe spss.S
6ed In each year. such person shall Ie
liable to Z penalty Of not lee than $50
nor NOR than $1,000. Any person 0
any omcer Of any corporation required
By law to make. render. sign or verify
any return who makes any take ~
fraudulent return or statement with Ia
tsnt to defeat or eva1s TIA assessment
required By this section to be made
shall be guilty Of Z misApmeapor and