The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1919-02-10
FEDERAL TAX COLUMN
(of Klein, Kinds q Finke, Certified Public Accountants,
New York city,


have tho same tax exemption
are accorded TO tho holders Of
First Liberty Second converted tl-h
tHeo "ttl" ahuycl.
ca The Third Liberty LIS have
tho same uN exemptions a. are ac-
90 the holders 81 First Liher.
~ Second Converted Its tace 90
Applies for Two Years.
tsl The Interest on the Fourth LIB
crfy LIS are exempt from all led
efai normal income taxes and on w.
600 par value from %auriaNcs. for v
years after the termination 81 M
present war. Hurtax exemption ~
granted with respect 60 the Interest
on an additional f1u.nro u such
bonds. This additional exemption for
two years applies 60 the Interest on
such bonds whether required a. "a re-
suit 81 oriElnnl subscriptions or Wheth-
or purchased In the open market SUBJ
segment 10 the CLOSING % original sub
rcriptinna
nscaptulation quoted in fun from
the National Ctty company circular is
b. follows
rom the adjoining tax features, IL
will ~ seen that the Income from
$4,000 United States Liberty BOMBS.
exclusive Of united States Liberty
ava 81 totally tax exempt for "a period
90 two years after the termination ~
THE war being made ny a. follows
5000 a~rFreFato hoidinrs 90 consist
~ first o. Second a., First tl-ts.
flrst Liberty sccond Converted : q.
second It's. Third tits. or Fourth
|tI.fa United States Certificates ~
Indebtedness. War savings Ccrtlfl.
Gates or War Savings Stamps
$4,000 npFrcFlte holdlnra, 20 CON
slst nf Firat e.. Second a.. First Z i-fsl
] Second it.ts. Coz Third fi-ta Condi-
tinuai upon subscription 20 fao,on1
FOURTH tl.ts. said $4,000 u bond.
20 be- held continuously until date Of
making tax returns
$4,000 OF Fourth tits
tan.0n0 First Liberty second con.
yertcd fi-ts secured as a result ~
converting like amount 90 United
ntatos Liberty aAa
Total titU. 900 Of bonds
Supplemental statement.
wish 10 add "a brief statement a.
supplement the foregoing, u u with
reference % excess pronts taxes. The
special exemption applicable 10 SUR
tlNca IL also applicable 20 excess
rroffs taxes. Thus. for example. the
stipulation in "t2l' above hat the
Interest on g. 600 b. free from SUR
means hat corporations nf"
Hia1 free from excess profits iHNeH ON
holdings az $4,000 uHr value rIWi.
lHrlN. corporations are exempt from
,Rrss- profits ttKrs ou The Interest cog
$4,000 of per value ~ converted
nrstf
Tas Questions aud answers.
Readers ORE invited tn submit their
fuE problems Go tho editor 'uWWuui.
cation must he signed, bot names 20
correspondents wln DOT bee published
Answers will appear Boo % order ~
receipt 20 inquiries Address InN
Editor care of Albuquerque Herald.
Revenue AFegt-i have rc-rtld a
number OF times your answer %
Deputy Collector which appeared
iu Mt~iurHdaY's paper. but / confess
become You auy mat uHrturrshipH
urr required 60 nle returns % thut
they will merely serve The purpose
Of supplying the commissioner office
with information regarding D iur
como ~ the Individual partner You
seom 90 he luhuriur under re- myHiify-
ms deluslon that partnerships do not
pHy excess profits taxes How can you
be Hu wrlrr NINn YOU never fnth
Title ~. War Excess Profits TaN See.
ton lOL which specifically taxes part
uarshius Take bis up from me ]
have BEEN checking up excess profits
taxes fnr hundreds of partnership
and YOU statement De- certainly tidIo-
uluuf
a cool OF. my young friend !
lhp your fighting spirit ~ rr"1hs
Hoil Tor your rool Intentions, hut
may I afk you 90 du mo me honor tn
rc-rond the article which su "WNs-
ufcs" yuuf The third sentence ~
mytusWcr roHds HF fulluws.
Must I1ic Returns.
Under the existing Law partner
ships are subject 90 taN and are zee
qllrrd 90 file rrturuH
lf YOU read the ncAt sentence you
viii learn that stated that under
the proposed Law partnr.Hhip returns
VIII hr for Information only ! should
however like f1 refer 10 90 tine
revenue hlii OF 1915 which is emo
Document No. 800. a. H. i4hfa .
cannot account Tor your error sAurpt
pn the basis that fUu have worked 20
1~DHluusIy col behalf ~ the department
aud have Kept your Nose 800 close 90
the rrlndstune thHf while YOU became.
undoubtedly. au expert 30 tho inter.
probation at tho existing Gslt law
you have uut had time Co umilNtrilH
yourself with the troUous uf the new
law forgive you, however, unu
trust that you will continue IL faith.
fl reader of this column and 30 you