to
It tho I.” pie
0! 0t.-
1 Q declar-l
,W o W at “0.“ this cor-
A .__.. spot-tics bad doolosod a dividend oi
The question of what is taxable 3190.000.
.111 corporations is 1‘. huge one and A. it such bad boon the use. the
will keep the entire force busy next (Milo amount of not m carried
month. For example. what oonsti~ to surplus on W 1. 1817.
tats: Invested canial? Does it mean would hove been Minot to addition-
the paid in capital stock of a cor- al at tho some mks“ tho dtfldands
poretion. or sales it mean all that mentioned in your will.“ shove.
ibas been spent in equipment, busi- and the balance. or 030.000. would
ness, trademarks. etc? A corpora- have been subject to additional tax
ition may have a paid in capital stock only at the rates posses-load in the
,of $100,000. but its plant and equip- act of semen“? 3. 1’"-
meat may be 'worth many Lines thatl Q. Assam!“ this Mead 01 pay-
;amount. it “invested capital" means in; IN! dividend 1| 088k 8 corpora-
.only the Capital stock. it would be lion bod captioned the some amount;
’easy {or the majority of corporations 0‘ “Wino as was distributed in cash.
Many rulings have already been made at {190,000. and iaouod the new stock-
on special fan,“ of my; queslion.'m its shareholduo as a flvidend.
but. when Collector Walsh was asked Would this divide-d be usable
how these rulings. allected. in a gem A. Yes. lost the some as though
'eral way. the above questions, he I! 11“ boonpaidlp cash. *
saidl— ; Q. A corporation boson business
9 _ "Positively no general rule can be on January 1.1912. Ito not «w
,laid down to 00'!!! that. A regular were “I {Mi— -
tion 01 otef' titty typewritten pages Julian 1. 1913. to Match 1.
....... ................l ,
March 1. 1013. to January I. '
g
2:
_?
(Continued iroxn First Pogo).
Illumina-
floss
has been issued on the question, and .
this must be. studied and applied to
each case. There is the question of
lit-rode marks. A trade mark may be 701' ‘3‘ year 1’“ -------------
”worth “100,000 to a concern, by“ i; ’0! the ”I! I,“ .............
”my have F0103“! cost much in. For the year mt. .......... .. 15.100-
‘g’thaa that. in that case: what is the 5W: 1- 1917 10‘ 30m
o ......................
City News
,value. and which is the taxable basis?! - 1 """"""""""" 3‘“
L it is invested capitol, but to what el- W of ""9“” on w i" P”
. Item!" - ,m 1. 1m. moss. ’I‘bo cars-runs
w. o. Woodward won the chain;i Another complicated question in mm M a (mm “m 13""-
plonship pocket billiard cup given by Shel "4" “Wildfires“. A 00mm"
. so or as a v en on January 1‘.
r
the “mole 0”" 0‘ M" Y0” ‘° 11m. tibviously paid it out 01 the
1917. hear-Slings! of some part 01 1916. und'
» s ere are outside the scope oi the
-—Austin's Garage dolnz business law. But dividends paid since Janu- 1191'7teamm‘ai‘3 32:10: zillhborstuz-
id SoaView "e. ary 1. are undoubtedly paid in part 9" o e a on o smeb -.
3“" 0'" "i“ b' ‘° 3“ c e m out or the earnings or 1911 and 1913. mm“ “‘ m “‘ °’ 8"" 9' 8'
one. But “0"”! ”“- °" ,and the dividing lino must min be ”"- ”'1 "'°‘ "' a” '" "mm"
no. W. 3. Austin. idrawn between the two. Oorpm "'4' °' October 3' ”11' “d that porn
;tions may not escape the dividend
. W. 0. mm is directlns my propositions by charging oi! 'largo
ocrlption fonds tor the smoke hind for amounts l0 Surplus or depreciation.
borl. 1011. on whlobvhto it do-
clued ad paid a dividend oi $21.00!
How will this dividend ho talodh
A. The portion of the. dividend
which represents the distribution of
or 015,300 at the mstsfiproocribed in
.the act of Boptonbor.;8.'1916, only
They must show th m... .ithu mm which roost-ent- eun-
tho soldiers of the Allies. being con- dew m been Wm: g, m 3‘"; ingo which accrue from Inch 1.
ducted by the Canadian Club at blow in” beiore them items "7% charged 1018 to Janusry 1. 1010. at the rates,
4.0". fair. Again. there is the proposition
. not accumulated dividends corned in
{Mt
1m'roootvod by the
’hbuid
tion which rcpt-poem 101 earnings,”
at October 8. 1913. The renaflor
0! 810.106. is exempt iron: to: un-
ite: the portion a! section 31 (M
which autos that:—
“But nothing herein contained mil.
be construed as lung any earnings
or profits accrued prior to March 1.
1913. but such comings or prom; or
earnings may be distributed in stock ‘
dividends. or otherwise. exempt from
tax. alter the dlslri'oulion of ml‘nilf‘g. '
and profits accrued since March 1,
1913. has been made."
Q. Will it be the taxpayers duty
to advise himself what proportion at
a dividend received by him is prop
(‘rly chargeable under section 31 (0)2
act 0! September 8. 1916, as unleaded
to the corporate earnings of profits
om...‘
’SaloedandSpIii. Any desired length
"or size. Prompt delivery.
RAYMOND BROTHERS
l'bsoc lit-8 137 Washington St.
for each tax year?
A. Yes.
0. Assuming that a corporation
had assets which had greatly ”pm,
eluted in value and had carried til»:
amount of that appreciation to itsf
surplus account and capitalism some:
or that it capitalized its good with?
and then issued the new stock to ill:
W" as s m would this}
W h m it the. Us? l
A. Only mm as repre-S
'ponsod a m at comings or}
“3 sound shoe loads 1,1913.l
monfloct to the I“ has whorl,
W M but!"
to it occur
“tannin!!!“ held, and
“ill dons! m 06”!“ earn
or m I. dividend‘
ii“
. inn
vod .
bo “minnow. that
ion soy of the stock received. in
payment at such a dividend is sold.
the entire proceeds der;ved from the
some are to bo returned under gross
income In the shareholders return rerl'
tiered tor the year during which sale
is mst. and will be subiect to both
the normal and the additional income
taxes.
A baby coop on wheels is involuoble
(or billy mothers.
1 bob 0. WHO. I“ -‘
'i‘he flospltal “hint Club will moot holdmllmemmm um ml:
at the homo oi the president. Mrs. H. accumulate d. diVidonds doyunot come
C. Bhoror. i “HMO” we... on within the scope of the 1918 tax, but
Friday. I». to. Every member is Uncle Sam must be shown that they:
orgodtobopsooolt. as bustle-o oi im- “0 “mutilated dividends. and not!
portonco wll mo belore‘ tie club: '
current. 1
Tires 1 ,
Plooso sour, hostess. ‘3 “'9 8 W oi the questions
that Collector Walsh and his force!
will have to wrestle with betwecni
It you are oontcmplatin-s the pur- NW and April 1. and nearly everyl
c M furniture I or the ”Mm. .case has its own argument, and new
- . . Questions are being raised every day.
you Eli-WM “8090‘ the . ““1”“: ‘ For the convenience o! the runnyf
Period suites. in mahogany. oak, birds seeking informatirm, Collector Walsh?
eye maple, and old ivory, shown by the has prepared, in question and answer!
A. J. Collins Co. at a substantial sav- form. rullnss on molly or these. prop-I
nus-
February Clean Up of
C—O-A-T-S
F01! MEN. WOMEN AND CHILDREN
J ACOBY’S
As .
* SKIRTS "
BLACK um! snare . . . . $1,”, $1.85, $1.50, $2.00, 32.25
mm mm ...... . . $1.25, $1.98, $2.00, $2.25
mmmsuooninumnu .. $2.25
max mum Helborbloom Top and Silk Home $2.50
sun: 81].! m .. . . .. $2.00, .8300, “.50, $5.00, $6.98
I. I. MALLETTE
00 WASHING”! 81'.
com ”DIWALI.
c.—
To YOUNG MEN.
Thhnonkhuspocislrogudtorihoyoongmwhobu
shownobillryandjndgmousinihoouduotoiomllbosincss.
not a community number of successful
maworom iiudihisBankssst-
Masteryphcetotrnmootthsh'mnsnindlosfionoipnblio
oonfldenceondamciation.
Bmflagtonifllestbotsppmitomchmonarowcrth of
YOUR consideration YOURS my aunt, y
The City National Bank
8mm“...
——__
Wonders. Pins Onto attached; shalom. Itslkn
and Americn style.
Corner Homes and Chestnut Its. Tel. 1555.
ositlono, as follow:—
ing dorms their February sale. Q. The net earnings in which 1,
held stock In the your 1916 amounted;
At the meeting yetlterday omho
Connecticut Probate Assembly, held
in the district courtroom at the Mn-
nicipal Building in Hartiord. Assistant
To: Commissioner Charles W. Cramcr
oponod a.dlscusion on tho subiect.‘oi
taxation of estates. Judge L. P. W.
Ilsrvin entertained the delegates.
to $50,000. which amount was our
riod to surplus account. Its not earn-I
ings‘irom ‘January 1. 1917. to Sop-j
tember 1. 1917. lunounted to 870.000,,
and on this latter date these last.
earnings were carriod to surplus and
a cash dividend of $50000 declared
and soon thoroalter paid. What “"I
come taxes. are to be rises-seed against,
.this dividend? |
A. Section 31 ,(b) of the act of
—-.DANOlNO OATURDAY NIGHT September 8, 1916. as amended by thoI
M “mm! Hall. Grace Bros'. lull! revenue act, provides. in port. as
o owe:—
full orchestra with Cathedral Chill". "Any distribution made to the
shareholders or members of o corpora-
.tion, joint stock company or associa-I
tion. or insurance conlpany in the
year 1917. or subsequent to: years,
shall be deemed to have been made
from the most recently accumulated
undivided profits or surplus. and shall
constitute a port of the not income
.0! distributee tor the year in
which received. and shall be taxed at!
.the rates prescribed by law for the.
flow is the time to save for next
winter's cool. It you start now, by
name: you will have the cash to buy
mt winter's supply and avoid worry.
The South Nomi: 'Trusl. Cotillion!
you l per cent. in the savings de-
railment sod your money when you
we!“ is. '
CONNEALLY
Edwin c. nut-tie.
SHOES FOR WOMEN
have stood the test tor many years and
have earned their popularity. We have
them in many models.
an. ms or noon!!!
i
, m Places _ o! Furniture
Asoospiohltywltbuondwohsvoomostoomplcioslock.
' anmor “I’LL WOOD, cuss AND
mmnomm. I
RAYMOND &. SON
Inn's!" Moldhnitm
'CKEN
MM
8:
Is Wubhtgsso host.
I years in which the profits or surplus' .
One 0! the Biker» trucks curable 1° were accumulated by the corporation,
New York. stalled on Wall street. yes! joint stock company, association or
tor-lay afternoon and hold up the "'1' insurance company."
, _ .i Therefore, the dividend, to which
01°10" “‘ considerable time! nntilflttm \von rater is to be charged against the
not We Mk command " 3° ‘3' most recently accumulated earnings
flop monorail the truck pushrd oil or surplus; that is. against the :70.-
the car truck to allow the trolleys to 000 earned during 101’? and carried
mine on; Alter a short time the trnclt' m
"“ “‘“° ‘° “”4“" °" “’ ”“3" n- vou nave. m m
am or
mass a mum
Tel. as.
l
Greeks who volunteer in the United
States any will ‘be serving their no
W .
ELECTRRIANS .
W for... , as numberswissoandm
Mancunian ‘ ..
The White" Electric Co.
mom.
as am
flvo country. according to S G. PM,’
ConsnIAGenenl of Greece, who has,
134 W at.
suesurononms moons, ' .. -
sum up nemesis.
, Beauliiul Periods
In may Walnut. Old ivory, White
' Enamel. Bird’s Eye. lsple.l’riccd10!o
20% lower tortuous February Sale
A. J. COLLINS co.
notified the Illinois State Council oi
Moose. Kenton. while serving; un-
do! the, Steam Stripes, he says. will
be the some uthoogh ln‘Gi'eek serv-
ice, and will be rewarded.
01 sum AVE,
I“! DOBWLLK.
Let ParisCome To Yeti
‘ adjusting the some. Disease is cooled
' through harmonizing the nerve pyl-
, WOMEN’S
in...
.H-v
Save For
"NCXIWIIIICP’S ,
11!! tom... ”Wm
Rem ember}!
1 Matt“ Your Store For,
. CHILDREN’S
SHOES
i
.
i
i
i
i
”WW‘“ . hummus.
" W ‘ ' ' chutporticuloreubs-
‘mmmm slammihisooint.‘
M Jumble"
oosw. ,1! '
. dolls.
' You don’t haveto go to Paris. Paris
comes to you in thobcoudiiill colloc-
fton of chic designs in The Wine:
Fashion Book. You have an almoot
bewildering choiccol styles. 31mm
practical. op-{todsto and easy to.
melts. Aod'ohst a sovrngior you!
Every sing dooign in The {Vi-M
W _ . my becomcdvooo
in detail by using
rte-Tomlin.
R E v I E w
PATTERNS
11mg mmlolshsyoosdresoes
Mxflww-‘Wdfilfl no.
“I" ‘ :ofiomooo-boll'so
oimwielooesch
Wow
,\ locum my,
‘4
It
s
'- SPRAY Your
.TREES
Closed 0 p. in. Saturdays llvenlp.
llll turther notice.
A. ll. Morgan
DE comers?
meannesowmsroolli'
0011le mm 1”
ALL WORK IN 003. .
LINE
The Gorham Co.
10 first as. lost Imam. j
Tel. 459. ‘
THE NEW SCIENCE ‘
DEFINITION ,, 0F CHIROPRACT.‘ "V
Chiropractic is the definition ol’ tho.
cause 0! the disease and the art 01
by a wrench, twist or lpl'Ilfi In tho
book. Even I! done in childhood it
cronies pinched nerves and M II
later lite in the dilerent organs Id
limbs. ~
Chiropfactors remove the cause it
disease and pain, health is restat‘d
tents in your body. Femslo troubles
given special attention; also curvpv '»
lure?“ the spine. You will never r0
gret giving the Chiropractor o cbanco
to help you. ' ‘
Magnetic treatments given also.
T. W”. C.
84 Washington St. 8o. Norwolh. Cool.
was“ from Palmer School ‘
WEAR _
The Lillie Shop f
ll You Have ’
Ally Jim "
SILI-
H10
37 Port'Stroet, last W‘
Meier truck Tires
All regular sizes" W in
Quality-6mm
m m FACTOR»! [ 3
Pine Island Street. Nov-wells
can. as or
and too will rush our trouble moo
right orottmi when numbing like
”up. m. In your house. If your. lit
rooms i
is defective, antiquated, unoooltory .
or won out, bottoms melanin”. H
oat-y rep-m ol' lmll‘ o now ops» "
' bows of
.lossluo A ancillary
HORACE R." '
.Dlootbloosodflootlno‘
Tel. 118
North lash Is. South Non-oil“. ‘
W" Mtg—e. “*“rn'mvwmm
3% “sigmm
Tits.“WS;wflnsumsflllslIti¢v
”mnmdmm “I m Mood
3&ka
a“, n;—
“Imam
ancestry its new
Norwalk Chronicler