OCR Text |
Show Ij , ! YOUR INCOME TAX i I BY GRAHAM B. NICHOL CI. 8. Burssu of Internal Revenue. I Kvery single person the term in-j in-j eluding widows, widowers and persons not living with husband or wife whose net Income for the year 1920 j was 11000 or more, and every married : person living with huaband or wife j whose net Income was 12000 or more, . must file a return. ! The exemptions are the same as for r 11911600 for single persons and 12000 for married persons and heads or families, fami-lies, plus $200 for each person dependent depend-ent upon the taxpayer for chief support sup-port if such person Is under 18 years of age orncapable of self support because be-cause mentally or physically defective. The tax rate also is the same for last year. 4 per cent on the first $4000 or net income above the exemptions and I per cent on the remaining net income. in-come. The surtax rates from 1 per cent on net Incomes between $rvfoo and $000 to 6-S per cent on net Incomes in excess of $1,000,000. |