Richmond daily register. (Richmond, Madison County, Ky.) 1917-1978, 1922-07-11
MOST EVERYONE HAS
TO PAY A FEDERAL TAX

month of July, now are available
at the office OF the Collector oil
Internal Revenue, Louisville, anc
the following branch Offices
Lexington, Covington, Ashland
! Owensboro, Paducah and Dan
! vile. To avoid penalty, return
| and payment of the tax must be
| made on or before July 81, 1922
Return of the capital-stock
tax of domestic corporations
must be made on form 707; OF
foreign corporations OH form 708
Form II is used for making re-
turn of the miscellaneous occupa-
tional and the tobacco manufac-
turers' special tax. Regulations
"a, governing the collection OF
the capital-stock tax; regulations
So, governing the collection OF
the miscellaneous occupational
taxes, and regulations 8. govern
ing the collection of the tobacco
manufacturers special tax also
may be obtained upon request of
the office of the Collector of In
ternal Revenue and branch Of
fees.
The revenue act provides that
every domestic corporation
shall pay annually a special ex-
else tax with respect to carrying
on or doing business equivalent
to 81 for each $1,000 OF so much
OF the fair average value of its
capital stock for the preceding
year ending June so, as is in ex-
cess of $4,000. In estimating the
value of the capital stock, the
surplus and undivided profits
shall be included. .. ~.
Every foreign corporation
shall pay annually special ex-
else tax with respect to carrying
on or doing business in the
United States, equivalent to ST
for each $1,000 of the average
amount of capital stock employ
ed in the transaction of its bust
ness in the United States during
the preceding year ending June
So"
The basis of the tax in the case
of domestic corporation is
carrying on Or doing business
in the capacity of a corporation
or association. Quoting from the
Capital Stock Tax Regulations
No. o.: "The words carrying
on or doing business must be
given every ordinary and natural
Specification. Business is a
very comprehensive term and
embraces whatever occupies the
time, attention or labor Of men
FOR the purposes of livelihood or
profit. In other words, business
necessarily involves the idea of
gain" Every domestic corpora
ton must make a return on form
IO7, even though the law may in
dictate that it is exempt from tax.
The question of exemption is one
for determination by the Com
missioner of Internal Revenue.
The basis of the tax in the case
of foreign corporation is car
rying on or doing business in the
United States. " A foreign cor
poration is carrying on or doing
business in the United States if
It maintains an agent or an office
or warehouse in the United
States, or in any other way en-
tiers the United, States for the
purposes of its business .~
Following are the miscellane-
Gus occupational taxes Brok :
ers, $50; pawnbrokers, 500; ship
brokers, $50; customhouse brok :
crs, $50. Proprietors of theatres
museums and5concert halls where
charge for admission is made
having a seating capacity of not
more than $50, shall pay a tax of
$50; having a seating capacity of
more than ESQ and not exceeding
500, 500; having a seating ca
l'pacity Of 500 and not exceeding
800, 500; having seating ca
pacity of more than 800, $500.
| Circus proprietors. are required
to pay tax of $l00.; proprietors
! of bowling alleys and billiard
rooms are required to pay $40 OF
each alley or table; proprietor,
of shooting galleries, $40; pro-
prietors of riding academies
500.
Persons carrying on the bust
/ ness of operating or renting au
tomobiles for hire are required
to pay $40 for each such automo
bile having seating capacity o
more than two and not more
than seven, and $50 for each au
tomobile having a seating capac
/ ity of more than seven.
l