Askov American. [volume] (Askov, Pine County, Minn.) 1914-current, 1934-02-22
TIME EXTENDED
TOFILE RETURNS
ON INCOME TAX
COnstitutiOnality of State Act Now
Being Tried In Court, Time for
Filing Is Extended to April Is.

Owing to the pending litigation rel
ative to the state income tax law the
tax commission has determined to ex-
tend the time for filing of all returns,
whether for corporations or individu-
ais, to April Is, 1884. The commits
sion anticipates that before the date
mentioned final adjudication of the
pending cases will have been made.
Every single person who is not the
head of a household is required to
file a return if his income is in ex-
cess of 100000; every married per-
son who lives with husband or wife,
and every single person who is the
head of household is required to file
return if his net income exceeds
100000. If husband and wife, liv-
ing together, make separate returns,
this credit may be divided between
them.
Head Of Family Defined.
The head of household" is an
individual who actually supports and
maintains in one household one or
more individuals who are closely con-
nected with him by blood relation
ship, marriage or adoption, and (whose
right to exercise family contfol and
provide for these dependents is based
upon some moral or legal obligation.
A credit of S250.O0 is allowed for each
person (other than husband or wife)
dependent upon and receiving his
chief support from the taxpayer. This
credit is allowed to only one taxpayer.
Dependents need not be related to,
or live with the taxpayer. This credit
| is based upon actual financial de-
tendency and not mere legal depend
ency. The test in the individual case
is whether such sO-called dependent
person receives One-half or more of
his support from the taxpayer.
The personal exemptions and ere
dts for dependents must be deter
mined by the taxpayers status on the
last day of his taxable year. In cases
where returns for fractional part
Of a year are permitted or required,
the period for which such term is
made is deemed to be a taxable year.
The credits in the case of a taxpayer
who dies or moves from the state
during the year, are determined by
such PERSONS status at the time of
his death or removal. and the full
credits as stated above are allowed.
In the case of a person who moves
into the state during the year the
full credits are allowed according to
the persons status on the last day
of the year.
A credit of 100000 is allowed to
each corporation.
Limitation on Deductions.
The deduction for contributions or
gifts made within the taxable year is
limited as follows: % They mus.
represent amounts contributed to the
State of Minnesota or to religious,
charitable, scientific, literary, artistic
or educational institutions operating
within this state, no part of the net
earnings of which inures to the bene-
fit OF any private individual, (2) The
total credit must not exceed 1870 of
the Taxpayers taxable net income.
Credits against income include divi-
dends received during the taxable
year from income arising out of bust
ness done in this state by the cOrpo-
ration paying such dividends. This
credit does not apply to dividends re-
celved from corporations exempted
from taxation under the State Income
Tax law, such as banks, mining COM
panies, insurance companies, co-opera-
tives, building and loan associations,
etc.; neither does this credit apply to
dividends received from income earned
by the corporations prior to January
1, 1893.
If the income out of which the
dividends are declared was derived
from business done within and without
Minnesota, it will be necessary for the
taxpayer to communicate with the
company paying the dividends to as
certain what part of the dividends
would be exempt from tax in Mime
sofa.
Supplies of Tax Return blanks have
been mailed out to all the County Au-
ditors in the state, and are available
to the taxpayers at their offices.