Milford chronicle., 1930-03-14

The summary of expenditures
shows that thee cost of collection OF
the taxes under Mr.. du Points super
vision is steadily decreasing. In 1926
the cost was $4,000 and in 1929
was $l14,000. OF the total expenses
during the four-year period the leg
islature appropriated $28O,618.3S and
$143,S69.36 came from penalties. The
balance came from Mr.. du Points
pocket.
In addition to the $4,993, 1880 col
lected up to October 81, of last year
there is to be added accounts re-
ceivable amounting to $751,792.5O,
which represents assessments and
installments due December 81, last.
The money collected last year
came from the following sources:
delinquet filing fees, $17,759.37; cur
rent income taxes, $2,103,004.84; de-
linquent income taxes, S232,789.63;
corporation invested capital taxes,
current, $297 1885; delinquent,
$53,544.S8; franchise taxes, $2,254,-
426.5S; penalties, $31,725.79, and in
terest on bank balances, $S,195.66.
Examination of returns by audi
tors in the tax Office last year un-
covered additional income taxes in
the amount of $285,S74.69 and addi-
tional invested capital taxes in the
amount of $64,2O4.27. On these
amounts $53,748.36 in penalties were
assessed.
While the total cash received up
to October 81 of last year represents
an approximate 80 per cent increase
over the previous year the 1928 col
lections represented an increase OF
17.8 per cent over 1927, and the 1927
collections represented an increase
of PIT over 1926. The 1926 collec-
tions represented an increase of S0.2
per cent over 1925 the year Mr.. du
Pont took office.
During the four year preceding
November /, 1925 the State tax Office
collected $6,621, ,376.2S in income,
franchise taxes and filing fee and
invested capital tax. During the
four years Mr.. du Pont has been in
Office $14,S74,972.2O has been col
lected.
Deficiency production by audit OF
returns in the tax Office under MT.
du Points administration uncovered
during the four years ending Octo-
ber 81 last, total of S1,148, PASS in
taxes whereas during the previous
four years only $2O4, ,449.84 were un-
covered.
During the years 1922 to 1925 to-
tai penalties assessed were $4,O4l.SO
while during the four years 1926
1929 penalties amounted ia $685.
583.42.
One of the many tables of figures
to the report show that OF
the $8,O58,917.24 in cash received
for income taxes during the years
1922-1929 inclusive, Wilmington cit
izens paid $5,2O3,161.93; rural New
Castle county paid $2,478,O2S.O9;
Kent county paid $17S,786.95 and
Sussex county paid $2OS,940.93.
Mr.. duPont's administration has
not only increased the States reve-
nues while lifting burdens from the
citizens, but he has also succeeded
IN having a greater number of tax
made. In 1925, only 1O,90I
income tax returns were filed. HIS
irst year in Office brought in 14,l2S
returns and last year there were
L7,147 returns. In 1925 only 600 cor
1oration invested capital returns
we're made and last year there were
|35.
Of the total income tax paid last
,ear, Wilmington taxables paid
i1.46 per cent; rural New Castle
county paid 1852 per cent; Kent
county, 1.34 per cent, and Sussex
county, 1.58 per cent. Net income
lied by Wilmingtonians amounted
o roughly, $87,OOO,OOO or 1886 per
ent of the total net income of the
ntire State; rural New Castle
ounty, $47,oO0,OOO, or 1892 per
ent; Kent county, s7OO0,OO0, or All
,er cent, and Sussex county, $11,-
100000, or III per cent.
The sources of the total income
eported in returns filed by March
5 of last year was: Salaries and
,ages, $77, ,4S1, 1885; business and
rofession, $9,SOS,O7452; interest
eceived, $7,925,765.S9; income from
fiduciaries, ETC., ST.
81, 4,49O.60; rents and royalties, 49,
35, 1854; capital gains, $S1,047,-
1858; dividends, $S9,847,O76.90;
ther income, 1888, S,668.37.
Forty-two persons with incomes OF
25O, 900 and over filed returns on
128 income last year. They report
net income of $32,840, ,599.45 af-
,r deductions and paid income tax
,talling $1,O32,S31.34.
Seventy-five persons reported net
lcome of between 100000 and
100000 reporting net income of
1928, ,699.63 and paying income tax
$247,532.28.
There were 1875 persons with in
,me of between $4,000 and $780,
10; 234 with income between $685.
10 and $4,000; 1872 between 100000
Id $25,OOO and 32,SSO reporting no
come. There were 14,S2S report
g income of between $1,500 and
1000.