The Sauk Centre herald. (Sauk Centre, Stearns County, Minn.) 1886-current, 1922-07-13
Forms For Making
Tax Returns Ready
Corporations Must File Report With
National Revenue Collector
July 81 to Save Penalty

II { = =
The following statement is issued
by Collector of Internal Revenue,
L. NJ Willcuts of the district of Min
nesota.
Forms for making returns of spec
ial taxes, due under the Revenue
Act of 1921 DUNG the month of July,
now are available at the office of
Collector of Internal Revenue, St.
Paul, Minnesota and the following
branch offices: Minneapolis, Duluth,
st. Cloud, Winona and Mankato.
To avoid penalty return and pay
ment 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 TOT; foreign corporations on
Form 708. Form II is used for MAX
ing return of the miscellaneous oc-
cupational and the tobacco manfact-
urer's special tax. Regulations GA,
governing the collection of the capital
stock tax, Regulations SO, covering
the collections of the miscellaneous
occupational taxes and Regulations
8, governing the collection of the tob-
acco manufacturers special tax also
may be obtained upon request of the
office of the collector of internal
revenue and branch offices.
The Revenue Act provides "that
every domestic corporation shall pay
annually special excise tax with re-
spect to carrying on or doing busin-
ess equivalent to 81 for each $1,000
of somuch of the fair average value
of its capital stock for the proceeding
year ending June 80 as in excess
of it's $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 excise tax
with respect to carrying on or doing
business in the United States, eq-
uivalent to 81 for each $1,000 of the
average amount of capital employed
in the transaction of its. business in
the United States, during the preced-
ing year ending June 80.
The basis of the tax in the case of
a domestic corporation is carrying
on or doing business" in the capacity
of corporation or association. Quot
ing from the Capital Stock Tax Reg
ulations No. 81, "The words carry
ing on or doing business, must be
gwen every ordinary and natural sig
MITIGATION. Business" is a very COM
prehensive term and embraces what
ever occupies the time, attention or
labor Of men for the purpose of livez
lihood or profit. In other words busin-
ess necessarily involves the idea of
gain" Every domestic corporation
must make return on Form TOT,
even though the law may indicate
that it is exempt from the tax. The
question of exemption is one for
determination by the Commissioner
of Internal Revenue.
The basis of the tax in the case of
a 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 pur-
pose of its business.
Following are the miscellaneous
occupational taxes: brokers, $50;
pawnbrokers, $100; ship brokers, $50;
customhouse brokers, $50. Prop
rietors of theaters, museums and con-
cert halls where charge for admis-
sion is made, having a seating cap
acity of not more than $50, shall pay
tax of $50; having a seating cap
acity of more than $50 and not ex-
ceeding 500, 500; having seating
capacity exceeding 800, $3.50; having
a seating capacity of more than 800,
5000.
Circus proprietors are required to
pay a tax of 500; proprietors of
bowling alleys and billiard rooms are
required to pay $40 for each ally or
table; proprietors Of shooting gal
leries, $40; proprietors of riding ac-
ademies, 500.
Persons carrying on the business of
operating or renting passenger auto
mobiles for hire are required to pay
$40 for each automobile having a