Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1920-12-29
TREDINNICK
RULES ON IN
COME TAXLAW
Why's and Wherefores
Propounded By Dist.
Assessment Chief.
The WISCONSIN Income Tax.

tAC w loCVAASLh AMNOAnN AtEAs
This is the first of a series of three
articles on the Wisconsin Income Tax
There are two separate Income laws
in operation in Wisconsin, the state
income tax and the federal income tax
law, each of which requires separate
report These articles deal with the
State Income Tax law
Who Should Report.
Under the Wisconsin law, all single
persons who receive $500. above nee
essary business expenses, and all mar
ried persons who receive over $1,000
should report to the income assessor
In determining whether or not one
| should make a report, no personal ex-
penses should be considered. First,
Zone should total all the income from
l.aiis sources received during the year
and then from this total, subtract the
necessary costs of obtaining this in
come. If $500 or $1,000 is left, as the
case may be, report should be made
| to the State Assessor of Incomes for
your district All persons who make
| this amount should file report wheth-
! er they receive blank from the office
of the Assessor of Incomes or not. All
persons who receive blanks from the
office must return them properly filled
/ out.
Time on Reporting.
! All reports must be in the office OF
1.-The assessor of incomes by March first.
| 1t should be understood that any in
dividual who refuses or neglects to
make return may be required to pay
| tax at double the original rates. II
necessary, the income may be estim-
ated and the tax computed at twice the
original rate. There is also a penalty
of fine of not to exceed $500 or i'm
| prisonment not to exceed one year, or
| both, for failure to correctly report
| income within the time and in the man
ner prescribed.
! The Wisconsin income tax law has
now been in operation nine years. 1t
ought to be fairly we'll understood,
and there should be few excuses for
not getting in a return on time Every
person will have plenty of time for
| filing out his blank and it will be pos
sible for everyone to send it in before
March LIST. Ii the returns are not re-
ceived by that time the penalties i'm
posed by the law will have to be en-
| forced Most of the office work in
connection with the income tax has to
be done before May as the real proper
! ty assessment begins then. With IA
600 blanks to check up and the tax
rolls for 70 districts to be made, even
when returns are all i'll by the first OF
March, it is difficult to examine them
carefully and it makes it much harder
if returns come late.
/ What Is Income9
Under income is included all rent
of real estate, all dividends and all in
terest received, wages, salaries or fees
all profits from transaction of business
! all profits from sales Of real estate,
all royalties received and fall other
i gains, profits or income derived from
any source" Rent or royalties re-
ceived from property outside of Wis
consin need not be reported but non
resident should report rents or royal
/ ties from property located in Wiscon-
sin.
A return should include all income
received by family including articles
taken from a merchants stock, pro-
duce of farm used by family, room
rent, and all incomes received by wife
and children under eighteen.
Later articles will deal with inven-
tories, depreciation, losses, depletion
and other matters. The office OF the
assessor Of incomes is always glad to
answer any questions in regard to the
| income tax work.
r. A. Tredinnick,
Assessor of Incomes,
Grant and Iowa Counties.