, 1922-07-20
SPECIAL TAXES
DUE THIS MONTH
Several forms Of Cooperation, Ocu-
patton and Other lakes are
Payable in July

nouncement has been issued from
the office of Marshall s. Reynolds,
collector Of internal revenue for the
district Of Wyoming:
Forms for making returns Of spe-
cial taxes, due under the revenue act
Of 1891 during the month OF July
now are available at the office OF
Collector Of Internal Revenue. Chey-
enne. Wyoming. To avoid penalty
return and payment of the tax must
be made ON or before July 81, 1929.
Return of the cepital stock tax
Of domestic corporations; foreign
corporations, 7OS must be made on
Form TOT. Form II is used for
making return Of the miscellaneous
o%ccupational and the tobacco manu-
facturer's special tax. Regulations
81, governing the collection Of the
governing the collection Of the mis-
cellaneous occupational taxes and
Regulations 8 governing the collec-
ton Of the tobacco manufacturers
special tax also may be obtained up
on request of the office of the col
lector Of internal revenue and branch
offices.
The revenue act provides that
every domestic corporation shall
pay annually a special excise tax
with respect to carrying on or doing
business e equivalent to $1.O0 for
each $1,000 of so much Of the fair
average value of its capital stock for
the preceding year ending June 80.
as is in excess of $4,000. In esti-
mating the value of the capital stock,
the surplus and undivided profits
shall be included.
Every foreign corporation shall
pay annually a special excise tax
with respect to carrying on or doing
business in the United States, equiva-
lent to 500 for each $1,000 of the
average amount of capital employed
in the transaction Of its business in
the United States, during the pre-
ceding year ending June 80"
The basis of the tax in the case Of
a domestic corporation Is "carryfng
on or doing business in the capacity
Of a corporation or association. Quot
from the Capital Stock Tax Regula-
lions No. "a, "The words carrying on
or doing business must be given
every ordinary and natural significa-
ton. Business is a very compre-
hensive term and embraces whatever
occupies the time. attention or labor
of men for the purpose Of liveli-
hood or profit. in other words
business necessarily involves the
idea of gain" Every domestic cor
poration must make a return on
Form TOT. even though the law may
indicate that 1t Is exempt from the
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 carrying on
or doing business in the United
States" A foreign corporation 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
enters the United States for the
purpose OF its business.
Following are the miscellaneous
cccupational axes: brokers'. $50:
pawnbrokers: 500; ship brokers,
$50; customhouse brokers, $50; pro-
prietors of theatres, museums. and
concert halls. where a charge for adj
mission is made. having a seating
capacity of not more than $50, shall
nay a tax of $50; having a seating
c~apacfty OF more than $50 and not
exceeding 500. 500: having a seat
ing capacity exceeding 500 and not
exceeding 500. $3.50; having a seat
ing capacity OF more than 500. $500.
Circus p~roprfetors are required to
pay a tax OF 800; proprietors OF
bowling alleys and billiard rooms are
required to pay $40. for each alley
or table: proprietors of shooting gal
leries. $40; proprietors Of riding
academies. 500.
Persons carrying on the business
Of operating or renting passenger
automobiles for hire are required to
q $40 for each such automobile
having a seating capacity of more
tina ntwo and not more than seven
and so for each such automobile
having a seating capacity OF o
than seven .
Section 1903 of the Revenue Act
Of 1891 imposes q tax upon the use
IT Yachts. pleasure boats. power
boats, sailing boats and motor boats
with fixed engines. Of over 5 net
tons. length over 81 feet. Numerous
INQUIRIES have been received concern
Ing this tax. These boats are divided
into three classes with respect to
length, and . separate tax 10 provided
for each class as follows: over s net
tons, length over 81 feet and not
over 50 fest, $l.oo for each foot;
over s net tons, length over 80 feet
and not over 100 feet, 81 for each
foot; overs net tons, length over 100
feet, 1900 for each foot. The Com
missioner Of Internal Revenue has
held that a vessel must be both over
s net tons and over 80 feet IN
length in order to be subject to the
special tax imposed by this section.
No return of certificates Of exemption
will be required In the case OF boats
falling below both or either of these
specifications.
NOTICE OF REGULAR ANNUAL