Red Lodge daily news combined with Carbon County news., 1934-01-24
attention DRAWN
TO STATE TAX ACT
Penalties Provided For
Failure to Pay
Income Tax

at Helena calls the public's atten-
ton to sections 2, 8, Is, Id, 10 and
"a of the Montana personal in
come tax law which provides for
the filing of returns on net and
gross incomes, information to be
supplied the board by certain in
dividuals and corporations, and
for the payment of the tax on or
before April Is this year.
The law provides that persons
having a net yearly income of ST.
600, or any part thereof, a tax of
one per cent of the amount shall
be levied; for the second $4,000,
two per cent; for the third $4,000,
three per cent, and on any income
in excess of $4,000, a tax of four
per cent shall be levied.
In figuring net incomes, section
nine of the personal income tax
law states that no deductions shall
be allowed for personal, living or
family expenses; any amount paid
on new buildings, permanent i'm
provements made to increase val
ue of property; amounts expended
in restoring property; premiums
paid on any life insurance policy
-. when the taxpayer is directly
or indirectly a beneficiary under
such policy.
Section thirteen Of the act states
that every person who comes I'M
der the head of information
agent" which includes all individ-
uals, corporations, associations
and partnerships, in whatever ca
pacity acting, and whether Off
GERS or employees of state, private
or municipal corporations, having
control, receipt, custody, disposal
or payment of interest, rent, sal
aries, wages, premiums, annuities,
dividends, compensations, remun-
erations, emoluments or any fixed
or determinable gains, profits and
income in excess of $700 a year,
shall file a return with the board
giving complete information of
the amounts under conditions pre-
scribed by the board.
Section fourteen of the law pro-
vides that every person having a
net income of $1,000 a year or
over, if single or married, and
whether living with husband and
wife or family, or a net income of
$4,000 a year or over if married
and living with husband and wife,
or a gross income of $500 a year
or over, regardless of the amount
of his net income, shall make, I'M
der oath, a return stating specifi-
cally the items of his gross in
come and deductions allowed by
the act. If a husband and wife
living together have an aggregate
net income of $500 or an aggre-
gate income of $4,000, each shall
make such a return, or the return
may be filed in a single joint
statement, and the tax computed
or the aggregate income. Persons
unable to make their W returns
shall have their guardians or an
authorized agent do so.
Section nineteen of the tax law
provides that all returns shall be
made to the equalization board at
Helena on or before April Is, and
that all returns shall be accom-
panied by a filing fee of $1.0O. Elk
tensions of time for filing will be
granted by the board whenever
good cause exists for doing so.
Except in ase of persons who
are abroad, no extension will be
granted for more than six months.
Affidavits or affirmations must
be annexed to returns on which
such extensions have been al
lowed. Blank forms for filing re-
turns will be furnished by the
board on application, but failure
to ecure such forms shall not re.
lieve any taxpayer Of the obliga.
ton Of making his returns.
Penalties provided in section
twenty-four of the act includes
(1) Persons who fail to make q
return or pay tax, without intent
to evade the tax, when due, but
who voluntarily files a correct re.
turn and pays tax Within so days
after the date, shall be charged
an additional five per cent of the
amount, the additional charge not
to be less than $500, and an ad.
ditional n per cent for each
month or part of a month that tn,
tax remains unpaid. (2) Person,
who voluntarily fail to make a re.
turn or pay the tax within so days
after date tax falls due, the ia,
will be doubled and the doubled
tax increased one per cent fol
each month the tax remains un,
Maid from the date il falls due