Tulsa daily world. [volume] (Tulsa, Indian Territory [Okla.]) 1905-1919, 1918-01-06

er may understand his rights In the
! matter.
That ono is not n citiYcn docs not
/ relieve him from the obligation Of fil-
/ ing an income tax chodulc-indeed.
I the tax - moro burdensoms on allens
/ tNln on citizens.
citizen n n person born or nat
Iuralizcd In the United States; n Citi-
( zen Of any other country than the
/ United states who has therein his
I principal business, and who Is there
( ~ permanently occupied or employed.
! even mo his domicilC is without the
| United States Is held TO be citizen
| OF tho United states
| The income tax laws cover every
| citizen residing in the United States
and this includes the territories Of
Alaska and Hawaii and the District
Of Columbia.
Grops Income means the gains.
prOfts and incomes for the fun cal
tudar yoar. or n the fiscal year az
taxpayer keeps his accounts.
Free of all Normal TaNes
Income from dividends are free Of
all normal taxes, and this is a very
'mpurtant matter for schedule MAX
,rs TO kerp I'm mind. The reason for
this is that corporations pay o per
cent corporation tax 80 the govern
ment but income frNn dividends
must he reported,
Under the old law tho surtav on in
comes starts AT $50 900 uudcr the
law Of October 2, 1917, excess Of So
900 income. after exemptions Is sub
ject to graded scate of taxes.
Dividends after passnC the 500
900 mark hc'ome arenahle 10 the
.. L., . Ia ,F q La NJ
1916.
Merchants IN preparing their
schedules should, understand that
payments for Nerchaudiso under the
instalunCnt plan count ns income
that merchants may also make claims
Tor deductions Tor the htro Of clerks
and other employees, sor the cost Of
light fuely etc. freight delivery
wagons, trucks. etc, bur not FOR the
cost of goods. NAgcp to minor
children cannot he deducted
a physician ~ allowed 10 claim
for the cost of medicines used, FOR the
operation and repair OF automobile
In which he makes calls stfbscrip
tions To medical journals md even Tor
expenses resulting FOR his Attendance
on medical conventions. .he cost OF
fuel aud light for office. for water
and for orfico rent. even II using n
room In properly owned by MIN, al
tho the rent paid would have TO be
reported as income, 80 that no bepe-
INT accrucs.
Confusion Has Resulted
Much confusion >has resulted. pro
and con from the Nbates IN congress
and the enactment Of Jaw Eubsu-
tutiug Information AZ the source Tor
within nldlng at the source. sava where
the bonds Of a corporation are Sc
cured by a mortgage containing the
sG-cnlled taN-free clause Corpora
ttons assuming royernmcnt taxation
on their bonds may continue To with
mold income tax st Tho sourcet all
others must report payment Of inter-
Cst of all character to investors 20 she
collector Of internal reycnuhs-..Aqheir
district In thS way the revenue bu-
car will check up on reports
All employers, klnkerS corpora
tons, etc, other than Withholding
corporations th&t have withheld part
OF any ones inv,me for 1917 "at tho
source" must make return uf the in
come withheld AZ once. reporting the
matter to the n'ernal revenue bu-
Tr's IL a matter that has cnused
great Inconvenience, especially for
some of the great trust companies
handling great coupon cOllecti IN
business II IS .nndcrstood TINT some
~ tlesc companies have had sptcml