The commonwealth. (Greenwood, Miss.) 1896-1923, 1920-01-07
|IE lVCOMETAX
|FORlISBY MAR. Is
| Single Men Receiving A Net In.
tome Of $1,000 and Married Men,
$4,000 Must Make Returns.

a
Blanks for income tax returns for
ls are expected TO be sent out to
ome taxpayers over the state and
sion during the next week or two,
the returns can be made by March
~ required by the federal gov
pment, according to Revenue Col
tor A. o. Blalock, writing from At
lta Ga.
Whereas the tax on incomes over
stated amounts were on the ba-
,of .6 per cent. for 1918, last year
basis WI ibe 4 per cent, thus re-
ting in saving Of one-third in
amount paid In income taxes, Mr..
hloek says.
Returns must be made by single
rsons receiving an income OF 81
b or more, and by married persons
keiving net income Of $1,000 or
IRE. Single persons In the position
head and chief support Of q fam
are given the same exemptions as
rried persons. In case wife re-
yes an income Of $1,000 or more,
IL usbject TO make . return, the
sbend required In such cases to
h I on the basis Of 1900 exemption,
Iess one of the two waives the right
exemption in favor Of the other.
exemption for the two cannt be
IN htasi 100000 Y
The time for fling income returns
between January / and March i5,
tsx being due at that time, or
4 b paid in four equal annual in
llmepks, the first BY March 10, the
ond BY June Is, the third BY Sep
rber is and the final payment by
Scember Is,
IA single man receiving q net in
sne for 1919 of exactly $1,000
nat file return, but Is not requir-
\ to pay income tax, the tax being
per cent, Of the income of q sim
man over that amount, Mr.. Bla-
X explained.
N
IA married man must file q return
HE receives as much as $4,000, but
Ness his net income was more than
loco he Is not required TO pay in
,me tax. II he has only one child
addition TO his wife, he receives an
1diticnai exemption Of $500 or $500
u each. dependent child under 1s
BARS Of age.
1.-THE amount on which a man must
1y, over his exemptions specified
bove, may also be reduced by the
hount he. pays In city, state and
bunty taxes, on both poll and per-
Bnal property, as well as by the
mount Of interest paid on money
6rrowed to pay for such property,
=. Blalock stated.
sIie offers the following example:
married man, with no children, re-
ives an income Of $500 last year
! owns . house and lot on which
pays taxes, city, state and county,
hich, with his poll taxes, amount to
10. He had to borrow, say $1,000
pay on his home and during the
Jar paid $50 interest on the money
brroued, His exemption, because
being married, is $4,000, while
Is taxes and interest amount TO sl,-
bO, leaving $400 Of his income that
taxable. At 4 per cent. his in
pme tax would amount to sl6.
Another example Is given: A sin
De travelling man works on a salary
|aving received $1,000 salary and
bmmissions amounting to $500
L had expenses, outside Of hotel and
bfe charges, including railroad fare
kiyer and team hire, entertaining
respective customers and like expen.
es, amounting to $1,000. With .
ross income Of $4,000, his net income
] therefore $1,000 and his exemption
1900, leaving $1,000 on which e
'ay income tax, which will amount
0 "a.
Additional allowances are made 10,
to established church
haritable and benevolent institu
ions or causes. The example Is Of
erred in the case Of the last mar
mentioned above. II he gave $50 z
lis church, SO to an orphanage ant
10 to the Salvation Army durinf
he year, totalling $50, this amour
! deducted from the $1,000, leaving
Ax due on $3.50, or $3s due in income