Evening journal. [volume] (Wilmington, Del.) 1888-1932, 1917-11-20
STATE income TAX
IS DUE NEXT march
Dover Man is Elected Clerk
Under New Revenue
Law
TAX ALL INCOMES
ABOVE $1,000 MARK
-, - THE FvENING JOURNAL.

special TO THE EVENING JOURNAL.
BOWER. Del, Nov. 2o.-Under the
povlslons Of the income tax law, en-
acted by the last Delaware Leslsla-
tire state Treasurer swain mas APP
pointed Frank Danner, OF near Dover,
Is income tax clerk. The salary Is
$500.
Because Of many inquiries as TO inc
deductions allowed under the law as
well as exemptions, the following Is
quoted from the act:
Exemptions
,.The proceeds Of life insurance policies
paid to individual benehclaries upon
the death Of the Insured; the amount
received by the insured, as return
OF premium or premiums paid by MN
under life insurance endowment OF
annuity contracts, either during the
term OF maturity Of the term mention
cd in the contract or upon the sur
render OF the contract; the value OF
property acquired by gift, bequest, de-
wise or descent; interest upon the OBJ
LEGATIONS OF a State or any political
snbdivislon thereof or upon the OBJ
LEGATIONS Of the United States or it3
possessions; the salary OF the present
Governor during the term for which nc
has been elected and the compensation
OF other public officers Of this STATE,
noyv in Office during their present
terms Of Office respectively; rentals Of
real estate and gains or profits derived
from agricultural operations, and ihe
sum Of 1000 out Of the income or
each taxable.
2si D. Sec. 24s-In computing net
income. the following deductions shall
be allowed.
First-The necessary expenses actual
IL paid by the taxable in carrying on
anv business or trade, not including
personal, living or family expenses, and
not including expenses Of agricultural
operations.
second-All interest paid by the tax
able within the year on his inrebted-
ness.
Third-Taxes paid by The taxable
within the year imposed by the au-
thority Of the United States, or its
territories, or possessions, or any for
elgn country, or under the authority
OF any state, county, school district.
municipality or other subdivision Of
any State.
Fourth-Losses actually sustained by
the taxable during the year incurred
in his business or trade, or other deal
ings, or arising from fires, storms
shipwrecks. or other casualty, or from
theft. when such losses are not com
pc nsated for by insurance or other
wise. not including losses resulting
from agricultural operations.
Fifth-Debts due the taxable actual
~ asceriained TO be worthless an
charged of Within the year.
Sixth-A reasonable allowance IA
the exhaustion, wear and tear OF proI
erty arising out Of its use or employ
ment In the business or trade of On
taxable
PSI r. Sec. 2i9-Thc tax shall b
computed upon The net income Of eac
taxable suhit t thereto, received Il
each preceding calendar year endin
December thirty-nrst.
Each taxable must. on or before th
first day Of March In each and ever
year. render under oath, an accurat
return Of an gross income OF on
THOUSAND dollars or over for the pre-
ceding calendar year, TO the stat
Treasurer, in such form as he sha
prescribe, setting forth specifically On
gross amount Of income from an ser
arate sources and from the total Their,
Of deducting the aggregate exemption
and deductions herein authorized.
NET Income means the aggregate
all gains, profits, salaries, wages. con
pensation for personal service or wha
ever kind and in whatever form pal
etc. and income derived and actual
received into possession by a taXah
from any source, whatever, etc.