The true Democrat. [volume] (Bayou Sara [La.]) 1892-1928, 1917-10-13


tobacco the collector also is charged
with handling the Income tax. about
which misunderstanding appears 10
have prevailed Collector Fauntleroy
declared all single persons deriving an
Income OF more than $1,000, and all
married persons wilh 81 income of
more than s200o, are subject TO the
tax, and white the same Is effective
IN 1917 payment aud filing OF The
papers Is not due until January I. 1918.
| Returns on the income tax will only
be accepted after Ike FIRST OF the year,
because no one can tabulate his or her
revenues for the year 1917 until Jan.
nary and they will have three months
after this date to prepare statements.
While the tax may be- paid between
January and March 1918, taxpayers
have upto June Is. 1918. before beeom.
ing delinquent.
The Law applies TO every Individual
with a net income of $1,000 when
single, and Of $4,000 when married. Il
husband and wife render separate re.
turns only the income and deductions
Of the husband or wife (as the case
mas be- who fendeers the return shall
be Included bat II separate returns
are not rendered By both husband aud
wife the income aud deductions OF both
huaand and wife shall BE- included
separately 4 single individual earn
Ing more than sieoo, or a married Ia,
diYidual earning more than f200o, un.
der the Las Ii required 20 make returns
for all Incomes derived from salaries
saRes. commissions. professions. voea
iions, rents, Interest on Hotes, mort
cages bank deposits interest on bonds
mortgages or deeds o5 trust or other
similar obligations or domestic corpo
fatinns. Joint stock companies, or rs.
sociatioRs and insurance companies.
hdaetaries, partnership gains aud pro.
fits. interest upon bonds issned in
foreign countries and dividends upon
the stock Of foreign corporations, etc,
engaged In business In foreign coun
tries. royalties from mines, oil wells,
patents franchises, or other legalized
aud other sources not enumerated.
Deductions are allowed upon the fol
lowing claims
The amount OF necessary expenses
actually paid within the calendar year
for which returns are made, In carry.
Ing on any individual business, There
must not be Included under this head
personal, living or family expenses.
business expenses or partnerships. OF
cost Of merchandise Amounts paid for
permanent improvements or better
menl of property are not proper eX
pense deduetIaHat
All interest paid within the year on
personal Indebtedness Of taxpayer
All national, foreign, state, county
school and municipal taxes, or taxes
imposed by other taNpaylng subdi
visions of any state, paid within the
year, not ineluding those assessed
against local benefits.
LOSSES nc sally sustained during che
year. Incurred In business or trade, or
arising from hres. storms, shIpwrecks
or other casualty, and from theft, not
compensated for by insurance or ether
Wise.
Losses sustained during the year in
transactions entered into for profit but
not connected with the business or
trade engaged ia. mo amount In OK
cess Of aggregate income from iheae
anurcrs il allowed
Debts past due which have been
actually ascerlaiued 10 be worthless
and which have been charged OH with,
Ia be wear