Plentywood herald. [volume] (Plentywood, Mont.) 1908-current, 1934-03-15
State Income Tax
CODers Wide T~eryif0ru

Have you filed your income tax
report? Do you know the provisions
OF the new law?
Reports from the state income tax
board indicate that more than 40. 900
reports will be filed by residents OF
Montana this year under the re
quirements of the new income tar
law passed by the last regular SEES
sion of the state legislature.
More than 1000 reports have al
ready been filed, with just a month
left in which to send In reports.
April Is Is the last day. after which
those falling to make returns will be
subject to a heavy penalty.
Proponents of the new law point
out that 1t will bring much addeo
evenu into the state treasury mas
much as a tax will be levied on all
incomes OF $1,000 a year and over.
Since few people seem to be fami-
liar with the provisions, the Herald
Is giving herewith in brief some OF
the important requirements.
Who Must File Returns
1t a person receives a salary In
Montana seven months out OF the
year, be or she is required to file a
return.
Every person having a net income
Tor the year OF $1,000, If single, or
$4,000 In the case OF married persons
or heads OF families.
Personal, living. or family expenses
are not deductible from gross in
come to determine the net income: |
neither are premiums on life insur-I
ance or repairs made OF buildings.
Exemptions which shall be allowed
$500 for each dependent underI
IL years OF age: contributions to-
charitable or religious Institutions.
payments made to organizations
war veterans or fraternal socfe-l
ties.
Every information agen shall
a return to the state board con.
corning the amount OF wages paid to
any person In excess of $500 a
year. These returns are to be filen
by March LIS at the same time as the
Federal Income tax returns. 1t is es
that more than loo, 900 such
of information agents" will
De sent in.
Returns must be made to the state
income tax board accompanied by a
ling fee of s1.00 and on or before
April Is. The Board may, when a
cause arises, grant an ex.
ension for filing returns, but Ia no
'ase to exceed six months.
Any person failing to make proper
eturns as provided in the law, will I
e subject to a fine of $1,000 or i'm {
Tisonment in the county jail for one
ear, or both, at the discretion OF the !
curt. !
Funds, How Appropriated
One or the most interesting rea
OF the new law is that which
rovides that 40 per cent OF all the c
eceipts under the Act will be distri \
uted to the state General Fund
lei 20 per cent will 20 to the
ommon School Interest and Income +
und, and 20 per cent to the Emer
ency Relief Fund, and 20 per cent Z
the Common School Equalization v
und. i
After March 81, 1895, the amour, Il
ping to the General Fund will be
creased to so per cent, and rs per b
mt each to the Common School In. r
rest and Common School Equaliza, b
On Fund. II
Agents from the Income Tax office tx
g now travelling through different
ctions OF the state to assist tax N
,yers In making returns. They will
sit all parts OF the state, including,
tn large and small cities ant
WINS.
Blanks for making returns NAV be "a
d at the Clerk of Courts office at ~
Q court house or by sending direct a.
the State Income Tax Board at Sc
ELENA. co