| Show CORPORATiON TAX TAXIS IS NOW IN t EFFECT Collection Will Amount to Over a Million in Local Reve Revenue Revenue Revenue nue District COMPRISES COMPRISE THREE T STATES Money Will m Posy Through Hands o or of Internal Incline Collector Corporations Concerned Notices aro being sent Hent to many man cor corporations corporations throughout Utah Montana end and nd Idaho of or the special excise tax commonly called the corporation tax which is now in effect through h an act net I of oC tho the last mst Congress Con r ss Tho The collection which will amount to over a It million mallon will pass through the of E H Callister Internal Internet collector for forthe forthe the three states mentioned The Th con constitutionality constitutionality of ot the law Is being con b by corporations and any an nn pay payments pa payments ments made will be under protest Tito Iho l io law Is IJ s applicable to most cor corporations corporations and Involves a 1 per par cent tax Lupon upon any an net Income which Is over I This Is exclusive of ot dividend amounts received from other corpora corporations There are arc exempted lodge and J fraternal organizations domestic build buildIngs logs Ings and loan associations religious aud and charitable organizations HOW HON INCO IS DETERMINED DETE MINED Every Evely corporation which comes with withIn In the pale pile of oC the th law must make returns re returns returns turns to tho proper revenue collector of ot its gross and antl net incomes These ere are re sent to Washington and there the actual taxable income Is 18 determined TIO 1 net Income or that which Is tux tax JaLle aide is reached by b deducting from Crom the gross amount of or lucerne from tram all an sources all the ordinary and necea par ny expenses actually paid within the year icar ear out of at Income In tho the main maln maintenance maintenance n and operation of Its business tl and ard properties p Including h all charges such Uth a as rentals and franchise lr pay payments pa ments required to be made mad as a condi condl condition condition tion lien to thu tho continued use or lon nf ol property ah aU oases losses actually actual sus sustained eu within the year Jear car rind ind not com 1 by 11 insurance or otherwise in InI tl I ding din a n reaSonable allowance allt for de deN N of at property If It ar an and In tte tre case of or insurance companies the thes thea s a rs ms other than dividends paid within year on policy and ennuI annuity con contracts contracts tracts and the net addition If Ir any arI re 10 sired by b law to be made ma o within tho the J eat eal to reserve funds Interest actu Lally Lall paid palt within the year on Its Us bond bonded bonded ed ct or other Indebtedness to an en amount of or ouch such bonded and other Indebtedness not exceeding the capital stock of lr such corporation joint stock com any lary or association or insurance com corn comi J i iy 1 outstanding at the close of or the A ir rr II and In tho the case e of a bank ban Ie bank Ji A p E g association or trust company all ii is Herc t actually paid by b it within the jf er r l on deposits r Oil J In III eis ea al of foreign corporation the 71 of oC r Its IK UP stock at the close clolie of ol the tho year nh h tit till gro gross amount of or its income nr fr V tl th dear cur eur from J transacted mo nHi capital hn ested within the United ft tes and any an of oC Its territories Alas AJas 1 la Ia a and the tho District of oC Columbia la bear bean to Jt the gross SlOSS amount of Its Income lIe cle med from all sources source within and with out the United States State d fourth f all sums J I ad old by It within tho year for taxes Im 7 O under the authority of ot the United t or of any an state or territory there d r t or 01 Imposed Impose 1 by b the government of oC I t iv 10 foreIgn country count am M a condition to toi toon i on business therein fifth all amounts received by it within the year ts as 5 dividends upon stock of ot other ther cor hr l joint stock companies or as 89 or Insurance companies sub suh subeet to the tax hereby imposed Tho notices which are being sent out contain blank forms upon which re rc re terns t are arc to be made Mercantile houses hous h h come under the law must furnish ln Inventories of oC stock clock PENALTIES 3 SEVERE lEV ERE The penalties In connection with tho the lay leu Ir are arc very er cr Revere Tho The vIolation of ot business confidence on the i art of any deputy or officer connected with the op operation operation of or the law Ian may be bo fined tined 1000 and Imprisoned d for one year Fines from 1000 to may be Imposed on corporations w which do 1 not make proper returns or fall Call to make them at tho the proper Draper time CORPORATIONS AFFECTED The coi corporations affected are as fol lovs Class A Financial al and commercial Including fannies bans banking associations atlo ns trust companies campa guaranty and surety companies con title Insurance companies building associations if It for profit and Insurance companies not specifically Class B service Such as rail jall steamboat ferryboat and stage lino Ino companies pipeline p lIno gas 1118 and eloc olce light companies express trans transportation transportation and companies tele telegraph graph and telephone companies Class C Industrial and ing Such as mIning lumber and coke companies mills foundry and machine shops sawmills flour woolen cotton and other mills manufacturers ot of t cars rs automobiles elevators agri agricultural agricultural agricultural cultural Implements and all articles manufactured wholly or In part from metal wood or other material manu or refiners of or sugar molasses syrups or other products ice loo and re frier eting companies slaughter house tannery packing or canning companies etc ete Class D Mercantile Including all dealers deal not otherwise classed as pro ulcers or manufacturers In coal lum Jum lumber ber tr grain and all goods wares and merchandise Class Clans E Eo Such as ar architects architects contractors hotel theater or I other companies or associations association not classed |
