The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1915-01-29
MARCH llsIEAsT a
DAY TO REPORT
Collector Of Internal Revenue
cOttrhI Announces Recently
Promulgated Regulations

With the time rapidly drawing to a
close, for the submission of the second
years returns by corporations under
the Income tax law, Collector of Inter
nal Revenue cottriIi has announced a
number of recently promulgated rceula.
lions Of material Importance TO taNpay-
ers' Of ali classes. The report Also tn
elodes regulations appertaining TO the
emergency revenue, or war tax bill Re-
turns on income tax are,due on or be.
fore March !. Us
The gist of these rulings follows:
Individunls desiring to file Chains for
exemption with withholding agents
must do SO not later than March i
The law Is mandatory on withholding
agents, and II they have in their hands
sums due other persons OF taxable
amount, they must withhold the normal
tax and must Withhold on the total
amount unless claim for exemption Is
fled within the time specified. q n
Unlike the law governing the pay
Inent of city, county or territorial taxes,
returns mailed prior 70 the closing hour,
not received by the collector. before
that time, win be considered delinquent.
The mere mailing does not constitute q
fling. 4. KEN, ~ TX !,
Corporations Must Report 1@a. Al
'All eofporati6ns except those speci.
Heaily exempted by Ian, must submit
u resort, whether there is an income 10
report or Eot.,i Refinement is not based
ca income, but Is mandatory as TO q
report The exemptions specified by
law are as follows: Labor, agricultural
or horticultural organizations; mutual
savings banks without capital stock
represented by shares; fraternaf bene.
6eiary societies, orders or associations
operating Under dodge system or for ex-
elusive benefit Of the members of a
freternity itself operating under a
lodge system and providing for the
payment of life, sick, accident and
other benefits to members; domestic
building and loan Associations; Gene.
terry companies for mutual heneft 10
members, and all similar institutions.
All indiviiuals5 who have net i'm
come in excess of $4,000. must submit a
report, even If the person be married
and is entitled to $4,000 exemption. I, \
The administrator OF executor Of d
person, whose death occurred prior to
the close of the calendar year must
submit return for such decedent from
January l TO the date Of death, and IL
the return shows taxable income, the
tax Is, collected MS with living persons.
Nonac Citizens Taxable y & = & Y i ~,
VA person who mafries during the year
must make return as o married person,
as the status at the close Of the year
determines the status. for the YEAR
therefore, husband or wife dying within
the year, leaves the survivor as 4 single
person at the end, Of the, year.
Persons residing within the United
States, although not citizens, must
max return the same. as citizens OF the
Cnited States, and must include the
income derived from properties outsils
the United States, 3 NoaFesid aliens
are taxable on the income derived, from
property owned or business, trade OF
profession carried on within the United
States ~ u strt6st o. y "a t.r ,t IA e ~
y Under the stamp act, a bank borrow.
ing funds from, Another bank, on acer
tifcate of deposit, the certificate of de.
post being in lien Of a note whether
secured by collateral or notl such ser
tifcate must bear stamps al the ra tesof
two cents for each 800 or fraction Of
the amount borrowed. The borrowing
bank, under these conditions, must ne
count for the funds borrowed in its
statement of capital, surplus and undi-
vided profits used in business. ,a,.