The Morgan City daily review. (Morgan City, La.) 1916-1920, 1919-03-04
rms Tells now Ton
FIGURE INCOME tax
SquareIy Up to Every individual
to Get Busy by March IS
or Suffer Penalty.

"Don't wait until the final due date
March 10, for paying your Income TAI
and making your return. Avoid the
last minute rush. Any person can fig.
ure out his liability today as well rs he
can next week, and if there Is any
point on which he needs advice lie can
now get In touch with Revenue man.
This word of advice is FROM John Y
! Fauntleroy, Collector Of Internal Reve
nue., New Orleans, who is COLLECTING
! the Income Tax in Louisiana. Collec
tor Fauntleroy is giving without charge
every aid OF his office and his enlarged
| field force TO help the people get lheil
returns in by March 10th.
But the Income Tax men will not
pull your doOr-bell or your cOat-tails,
according to the Collectors announce
ment. 1t is squarely up to every indi-
vidual to figure out his own case and
to get busy if he comes within the
scope of the new Revenue law.
Did You Earn This Much7
Every unmarried person who re-
ceived income averaging $1925 a week
during 1918 and every married couple
who Jointly received income averaging
$3.50 week should secure at once
from the nearest Deputy Collector or
the nearest bank blank Form 1910 A.
That form contains the information he
Will need to enable him to figure his
correct net income and any tax that he
owes the government.
The law requires that every unmar-
rfed person who had a net income Of
$1,000 or over and every married per-
son whose net income was $1,000 or
over Gncluding the income Of husband
or wife and the earnings Of minor
children, If any must make n return
on or before March 18th. And this re-
quirement does not hinge on whether
the person owes tax.
Taxable Income.
An individual must include under
gross income all gains, profits and in
come derived from salaries, wages or
compensation for personal service Of
whatever kind and in whatever form
paid or from professions, vocations,
business, sales or dealings in property
Of all kinds, interest, rent, dividends
or profits derived from any source
whatever. Very few items of income
are exempt.
Deductions include ordinary and nee
essary business expenses, interest paid
or accrued on Indebtedness, taxes of
all kinds except Federal income and
excess profits taxes and assessments
for local benefits, losses actually eI,s-
tanned, debts ascertained to be worth
less and depreciation on buildings, ma
chinery, fixtures, etc, used in business.
A further deduction is allowed for con-
tributions to corporations operated for
religious, charitable, scientific or edu-
cational purposes or for the prevention
of cruelty to children or animals to an
amount not exceeding Is per cent Of
the Taxpayers net income as computed
without the benefit Of the contribution
deduction.
The taxpayer is not allowed to de-
duct any personal, living or family en-
pense, any amount spent for improving
property or any expense of restoring
property or making good its exhaus-
ton for which an allowance is claimed
under depreciation.
Figuring the Tax.
Before figuring the normal tax the
dividends are deducted as credits from
net income, together with the personal
exemption. AS in previous years, divi-
lends Of domestic corporations are ex-
empt from normal tax when received
BY the stakeholder.
The normal tax rates for citizens
and residents are as follows: On the !
irst $4,000 Of net income in excess of |
he credits the rate is 6 per cent; on !
my further taxable income the rate Is
2 per cent
The surtax rates apply to net in
'ome of each individual In excess of /
5000. The personal exemption and
he dividends are not deductible before
surtaX. In the case of re-
urns by husband and wife, the net in
ONE of each is considered separately
q computing any surtax that may be
ue. Form 1910 should be used for
making returns of net income exceed
1g $4,000, and the instructions on that
orm will show how to figure the sur
*.
Business House Returns.
Employers and others who paid
ages, salaries, rents, interest or sim
ar determinable gains in an amount
I $1,000 or over during 1918 TO any
ersOn must file an information return
18th the Governmer1. Blanks may be
ecured from the C,flector.
Every partnership must file a return E.
moving its income and deductions and ,
re name and address of each partner. !
18th his share of the profits or losses
uring the past year. Personal service
will file similar informa- d,
on for 1918.
y K 4 II 4 X r. x X ttt+tt* {
X {
INCOME TAX DAVC l. II