OCR Text |
Show Income Tax Facts You Should Know Salaries paid to stale employees, including also employees of a town, county, or hamlet, are exempt from laxalion. Thousands-of 'persons engaged en-gaged in business for themselves or as employees in private business, receive re-ceive such additional compensation.. A storekeeper may be elected mayor t$ of his town. The amount paid for such service should be entered on his income lax return,, but. it is not lax-able. lax-able. Stale employees, however, inusl consider carefully their income from i all other sources If., including the j amounts paid (hem by (he slate, it equals or exceeds $l.imn or $2. mm, according to their marital stains, a return of income mini be filed and the tax paid on net income in excess of those amounts. The relurn imi;.l. be. sworn lo before be-fore a notary or other person authorized author-ized to administer an oalh. The lax . may be paid In full al, the time, of filing the relurn or in four equal installments, in-stallments, due on or before .March 15. June 15. September 15. and December De-cember 15. 11121. At least one-fourth of the rinount due must accom pa ny I he filing of I he ret urn . Salary exempt ions allowed state employees do not apply to employees . p T the federal government, such, for example, as postmasters. . |