Book/Printed Material Taxes and returns under United States and Massachusetts laws,
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Image 1 of Taxes and returns under United States and Massachusetts laws,- Contributor: North, Frank Allen
- Date: 1918
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Image 2 of Taxes and returns under United States and Massachusetts laws, Copyright N° j 9 i%~u COPYRIGHT DEPOSIT.- Contributor: North, Frank Allen
- Date: 1918
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Image 3 of Taxes and returns under United States and Massachusetts laws, COMPLIMENTS OF JOHNSON NORTH 89 STATE ST., BOSTON- Contributor: North, Frank Allen
- Date: 1918
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Image 4 of Taxes and returns under United States and Massachusetts laws,- Contributor: North, Frank Allen
- Date: 1918
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Image 5 of Taxes and returns under United States and Massachusetts laws, TAXES AND RETURNS UNDER UNITED STATES AND MASSACHUSETTS LAWS BY FRANK A. NORTH of BOSTON BAR A Summary of the United States and Massachusetts Tax Laws affecting Individuals, Partner¬ ships and Corporations JOHNSON NORTH, ATTORNEYS 89 STATE STREET, BOSTON- Contributor: North, Frank Allen
- Date: 1918
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Image 6 of Taxes and returns under United States and Massachusetts laws, COPYRIGHT 1918 FRANK A. NORTH m -6 1918 ©GLA494 504 u n t c- Contributor: North, Frank Allen
- Date: 1918
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Image 7 of Taxes and returns under United States and Massachusetts laws, SUBJECTS PAGE I. TAXATION IN 1918 5 II. TAX-PAYER’S CALENDAR 8 III. THE DIFFERENT UNITED STATES TAXES 1. Federal Income Tax 14 2. Federal Undistributed Profits Tax 111 3. Federal Excess Profits Tax 114 4. Federal Capital Stock Tax 172 5. Federal Estate Tax 174 6. Federal Stamp Taxes 178 7. Federal Miscellaneous War Taxes 178 IV. THE DIFFERENT MASSACHUSETTS TAXES 1. Massachusetts Income…- Contributor: North, Frank Allen
- Date: 1918
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Image 8 of Taxes and returns under United States and Massachusetts laws, t- Contributor: North, Frank Allen
- Date: 1918
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Image 9 of Taxes and returns under United States and Massachusetts laws, TAXES AND RETURNS. 5 I TAXATION IN 1918. The Federal Tax Laws passed by the last Con¬ gress have established three records in tax legis¬ lation. 1. They are the most difficult to understand and interpret of any tax laws heretofore enacted. 2. They reach more than ten times as many people as have been taxed heretofore. 3. They impose a tax burden which…- Contributor: North, Frank Allen
- Date: 1918
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Image 10 of Taxes and returns under United States and Massachusetts laws, 6 TAXES AND RETURNS. ANNUAL TAXES AND TAX RETURNS. INDIVIDUALS. Tax Return Due Federal Income Tax.March 1 Federal Excess Profits Tax.March 1 Federal List of Employees, etc., Paid $800.March 1 Massachusetts Income Tax.March 1 Massachusetts List of Employees Paid $1800-March 1 Massachusetts List of Interest Payments.March 1 Massachusetts Local Tax.May 15 FIDUCIARIES. Federal Income Tax.March 1 Massachusetts Income Tax.March 1 Massachusetts List of Interest…- Contributor: North, Frank Allen
- Date: 1918
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Image 11 of Taxes and returns under United States and Massachusetts laws, TAXES AND RETURNS. 7 IMPORTANCE OF TAX RETURNS. Tax Returns are the basis of taxation. They fur¬ nish the Federal and State tax officials not only with the data for assessment, but with information for the future relative to the investments and busi¬ ness affairs of the tax-payer. Blank forms for Tax Returns are sometimes mailed to the tax-payer, but failure to receive the…- Contributor: North, Frank Allen
- Date: 1918
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Image 12 of Taxes and returns under United States and Massachusetts laws, 8 taxpayers calendar. II. THE TAX-PAYER’S CALENDAR. JANUARY. At the beginning of the year the first duty of the tax-payer is to close his books and to determine through inventory or otherwise his profits or losses for the previous year. Inventory according to rulings by the Treasury Department should be taken at cost, or cost or mar¬ ket value, whichever is the less. Corporations…- Contributor: North, Frank Allen
- Date: 1918
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Image 13 of Taxes and returns under United States and Massachusetts laws, taxpayers calendar. 9 PARTNERSHIPS. Income Tax Income Tax Excess Profits Tax List of Employees List of Employees, etc. and Interest Payments CORPORATIONS. Income T ax List of Employees Excess Profits Tax and Interest Payments List of Employees, etc. Corporations authorized to use their own fiscal year should file Tax Returns within sixty days from the close of such fiscal year. During March the tax-payer…- Contributor: North, Frank Allen
- Date: 1918
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Image 14 of Taxes and returns under United States and Massachusetts laws, 10 taxpayers calendar. uated. Tax-payers should see to it that such prop¬ erty is assessed locally on April first and that tax bills covering the same are submitted to the Massa¬ chusetts tax officials. (e) Cash and receivables of a Massachusetts cor¬ poration when situated in another State will not be allowed as a deduction unless the corporation has a place of business there…- Contributor: North, Frank Allen
- Date: 1918
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Image 15 of Taxes and returns under United States and Massachusetts laws, taxpayers calendar. 11 Undistributed earnings of the previous year be¬ come liable to the Federal ten per cent, tax on July first unless: (a) Actually invested and employed in the busi¬ ness. (b) Invested in securities of the United States issued after September 1, 1917. (c) Distributed in the form of dividends. JULY. Corporations are required to file their Federal Capital Stock Tax Return…- Contributor: North, Frank Allen
- Date: 1918
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Image 16 of Taxes and returns under United States and Massachusetts laws, 12 taxpayers calendar. and Excess Profits Tax and the Massachusetts In¬ come Tax. The following matters should receive considera¬ tion during December where Returns are made based upon the calendar year and during the last month of the tax-payer’s fiscal year where Returns are based upon such fiscal year: (a) Paper profits and losses cannot be included in Returns under Federal or Massachusetts Tax…- Contributor: North, Frank Allen
- Date: 1918
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Image 17 of Taxes and returns under United States and Massachusetts laws, taxpayers calendar. 13 ered, is an allowable deduction to the employer. It is income to the employee. Where the payment is a mere gift, it cannot be deducted by the em¬ ployer, and need not be returned by the employee. (g) Additional salaries paid at the end of the year, provided the total amount for the year does not exceed fair compensation, will be…- Contributor: North, Frank Allen
- Date: 1918
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Image 18 of Taxes and returns under United States and Massachusetts laws, 14 FEDERAL INCOME TAX. III. THE DIFFERENT UNITED STATES TAXES. (1) FEDERAL INCOME TAX. BRIEF On August 5, 1909, the Congress HISTORY. enacted the Corporation Excise Tax, so-called, which levied a tax of one per cent, on corporate net income for each tax¬ able calendar or fiscal year in excess of $5,000. On February 25, 1913, the sixteenth Amendment to the Constitution of the…- Contributor: North, Frank Allen
- Date: 1918
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Image 19 of Taxes and returns under United States and Massachusetts laws, FEDERAL INCOME TAX. 15 ditional two per cent, and the corporation rate by an additional four per cent. The exemption of $4,000 allowed a married indi¬ vidual or head of a family, and of $3,000 allowed a single individual under the Act of September 8, 1916, was reduced to $2,000 and $1,000 respectively for the purposes of the later Act. The requirement for filing…- Contributor: North, Frank Allen
- Date: 1918
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Image 20 of Taxes and returns under United States and Massachusetts laws, 16 FEDERAL INCOME TAX. trade, profession, from taxable investments, or from sales or dealings in property. (b) Administrators, executors, trustees, and other persons acting in a fiduciary capacity where the net taxable income accrued or paid to any unmar¬ ried beneficiary is $1,000 or more, or to any mar¬ ried beneficiary is $2,000 or more during the year. (c) Corporations organized for profit, whatever…- Contributor: North, Frank Allen
- Date: 1918
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Image 21 of Taxes and returns under United States and Massachusetts laws, FEDERAL INCOME TAX. 17 (c) Normal tax of two per cent., Act of 1917, upon taxable net income in excess of $1,000 for a single individual and of $2,000 for a married indi¬ vidual or head of a family, with a deduction of $200 for each dependent child under eighteen years of age. (d) Progressive surtax, Act of 1917, upon tax¬ able net income…- Contributor: North, Frank Allen
- Date: 1918
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Image 22 of Taxes and returns under United States and Massachusetts laws, 18 FEDERAL INCOME TAX. In computing the additional four per cent, tax, corporations may deduct dividends received from other taxable corporations. In computing the entire six per cent, tax., cor¬ porations may deduct an amount equal to their Fed¬ eral Excess Profits Tax for the same year. (b) Undistributed Profits Tax of ten per cent, upon current net income, if any, remaining undis¬ tributed…- Contributor: North, Frank Allen
- Date: 1918
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Image 23 of Taxes and returns under United States and Massachusetts laws, FEDERAL INCOME TAX. 19 FEDERAL INDIVIDUAL INCOME TAX OF A MAR¬ RIED MAN OR HEAD OF A FAMILY UNDER LAWS OF 1916 AND 1917 IN DOLLARS AND IN PER CENT., NO DEDUCTION FOR DIVIDENDS. Under Law of Sept. 8, 1916 Under Law of Oct. 3. 1917 Total Tax Income Amount Percent Amount Percent Amount Percent 2,000 00 00 00 00 00 00 3,000 00…- Contributor: North, Frank Allen
- Date: 1918
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Image 24 of Taxes and returns under United States and Massachusetts laws, 20 FEDERAL INCOME TAX. COMPUTATION OF SURTAX. Amount of Amount subject to surtax at Rate Amount of surtax at Total surtax on net income rate shown each rate each A in Col. C. B c D amount E 5,000 000 0% 00 00 7,500 2,500 1% 25 25 10,000 2,500 2% 50 75 12,500 2,500 3% 75 150 15,000 2,500 4% 100 250 20,000…- Contributor: North, Frank Allen
- Date: 1918
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Image 25 of Taxes and returns under United States and Massachusetts laws, FEDERAL INCOME TAX. 21 SURTAX RATES, 1913—1916. Act of October 3, 1913. Act of September 6, 1916. 20,000 50,000 1% 20.000 40.000 1% 50.000 75,000 2% 40,000 60000 2 75,000 100.000 3% 60,000 80.000 3 100 000 250 000 4 80,000 100,000 4 250,000 500,0000 5% 100,000 150,000 5% Over $500,000 6% 150.000 200.000 6% 200.000 250 000 7% 250,000 300.000 8% 300,000 350,000…- Contributor: North, Frank Allen
- Date: 1918
About this Item
Title
- Taxes and returns under United States and Massachusetts laws,
Names
- North, Frank Allen, 1869-
Created / Published
- Boston, Johnson & North [c1918]
Headings
- - Taxation--Law and legislation--United States
- - Taxation--Law and legislation--Massachusetts
Notes
- - Also available in digital form.
Medium
- 250, xxi p. 19 cm.
Call Number/Physical Location
- HJ3302 .A7 1918n
Library of Congress Control Number
- 18007800
OCLC Number
- 11764524
Online Format
- image
- online text