Richmond Palladium (Daily), Volume 45, Number 55, 15 January 1920 — Page 8

PAGE EIGHT

THE RICHMOND PALLADIUM AND SUN-TELEGRAM, JTOURSD AY, JAN. 15, 1920.

CORPORATION TAXES . EXPLAINED; 10 PER 'T GENT IS FLAT RATE

.Corporation taxes and exemptions and the meaning of "personal service corporations" are discussed in the ninth, of the series of "Income Tax Facta You Should Know," made publlo Thursady by the Federal Bureau of Internal Revenue. It follows: A flat rate of 10 per cent is imposed on the net income of corporations for , the year 1919. For the year 1918 the rate was -12 per cent. . Certain corporations, 6uch as labor and agricultural organizations, mutual savings banks not having a capital stock represented by shares, fraternal beneficiary societies, business leagues, chambers of commerce, boards of trade, etc., not organized for profit, . are exempt from taxation. ' ... Every domestic corporation is allowed a specific exemption of $2,000, but, unless expressly exempt from taxation must file a return regardless of its net

income. , He,turns are required also of every personal corporation, notwithstanding they are exempt from tax

ation. ' ." . The term "personal service corpora tion," according to Treasury regulations, means a corporation "the in

cotne of which is derived from a pro

fession or business which consists principally of rendering personal service the earnings of which are to be

ascribed primarily to the activities of the principal, owners or stockholders, and in which the employment of capital is not necessary, or only incidental." No definite and conclusive tests, however, can be prescribed by which it can be determined in advance of an examination of the corporation's return whether or not it is a personal service corporation. The individual stockholders of a personal service corporation are taxed in the same manner as members of a partnership, and the net income from such corporations must be accounted for . by them. Corporation returns must be sworn to by the president, vice-president, or other principal officer, and by the treasurer and assistant treasurer. When required by the commissioner of Internad Revenue, corporations subject to the tax must render a return

duly verified under oath of its payments of dividends, stating the name

and adress of each stockholder, the number of shares owned by him, and the amount of dividends paid him. Corporations, as well as individuals and partnerships, doing . a; brokerage business, when required by the commissioner, must file a return showing the names of their customers, ; the amount of their profits or losses, .and giving such information as will enable the commissioner, to determine whether all income tax on profits and gains of such customer have .been paid. In determining; net Income upon which the tax is assessed, corporations are allowed all the ordinary deductions for business' expenses, bad debts, depreciation, losses, etc., granted the '.individual. Corporations, like individuals, may pay their income tax in full at (he time of filing the returns or in four , installments, the first of which is due on or before March 1$, the second on or before June 15, the third on or before Sept. 15, and the fourth on or before Dec. 15, 1920.V.

Milton, Ind. A program is being arranged for the all-day farmers' meeting, to be held Saturday in Grange hall. . At noon a co-operative dinner will.be served. In the afternoon Mr. Llewellyn, superintendent of the Newcastle schools, will make the chief address. This meeting is being' fathered by . the Milton Grange, : but, they want it understood it is in no way confined to grangers. The corn "Show is open. An invitation is extended to everybody. ...Mr. and

Mrs. Earl Crawford entertained Sunday in honor of Mr. and Mrs. . Harry Caldwell, Mr. and Mrs. E. C. Caldwell, Miss Mary Caldwell," and" Mr.' and Mrs. Carl Caldwell and family. .. .Mr. and Mrs. Russell Wilson of . Salem: came Sunday to visit their parents: Mr. Wilson left Monday for Purdue, to attend the 1 conference' of- county agents. . . .Mr. and Mrs. Frank Florea expert to leave Saturday for; Miami,

i" la. . tienion vvagnor ana Mrs. ueorge Vagnorwent-to Indianapolis Sunday to spend the day with . George Wagnor at the Methodist hospital. - Mrs. ,Vagnorwill remain in. Indianapolis until the middle of the week. v i Miss" Blanche Coyne is in the hospital at Delaware, Ohio.. . ; .Mr. and Mrs. Ross Doddridge ;and MrJ and ' Mrs. Russell Wilson were ;guests of Mr. and Mrs. Walter Higham Sunday.. . . .Mrs. Harry Doty and Mr." and Mrs. Ed Wilson . spent Monday at Richmond. . . . .Paul" Fefris left Monday to spend a few days at Purdue university The Home Circle met last Thursday with Mrs. Ozro Dailey.. . . .The Ruth Circle held' a class meeting Tuesday afternoon with Mrs. , Laura Warren. . . . .Dayton. Warren was host for a meeting of his feunday school class Tuesday evening The v cemetery association met Monday afternoon at the " home Mrs. Alice Gresh.. . . .The Dorcas class will have its annual business meeting Friday afternoon at thte home of Mrs. Alice Gresh. . ..The Alice Carey club will meet Thursday afternoon with Mrs. L. H. Warren, Mrs.

Hattie Heist entertained at dinner

Sunday Rev. Hewson and Rev. Hester and family.. . . . Mrs. W. L. Parkins

spent Friday with Mr. and Mrs. William Husseynear" Hagerstown.. ".Rev. HeWSOn snpTit Mnnrlav at Ma

Indianapolis .Huber (Newman spent o.. ,i , ... . . .. . . . "i

ouuuay ai; luuianapous wun nis aunt, Mrs. ' Sallie Hussey.. . , . Rev. Talbert Reavis. a miisionarv home nn a fur

lough from. Buenos Ayres, . Argentina, will preach, at ;the Christian church, Sunday, January 25. Rev. Reavis was

at one , time -the pastor of the ; Milton church. .1 ... . A crowd of high !

school boys land girls enjoyed a bob sled party Monday night. ' v . Greensfork, Ind. T 1 Mr. and Mrs. Russell Orubhs. tsnent

Saturday evening, and Sunday -in Anderson, visiting their sister, Mrs., Geo. Fisher. . Mrs. Glen Pickett, spent

Tuesday at Olive Hill, visiting Mr. and

Mrs. GlenHoggatte and daughter Jean Mrs. Glen Hoggatte and daughter Jean-

daughter Martha, spent the week-end

wtui iuia. jjiubb anil family ai Marion,, . . t . Mr. 'and Mrs. Venton Gilbert and i

two daughters, and Cleo. Stanton spent Mondayi evening with Mr. and Mrs. Charles Thornburg and daughter Mel ba.... Mrs. Dr.' Nef f and daughter Flossie, called on Mrs. R J. Grubbs. Tuesday afternoon 1 . . . Mrs. Ida Pick" ett and daughter, Elsie, spent Tuesday in Richmond...... Mrs. Julian Study called on Mrs. Russel, Grubbs, Tuesday afternoon.... Mrs. Minnie Deiser of Hagerstown, called on Mr. and Mrs. Everett Tipton, Sunday.; afternoons. . Mr. and MrsJ Fred Davis and daughter of New Castle, are visiting Mrs. Byrd. FOX HUNTING PROVES BIG ' SPORT IN FULTON COUNTY ROCHESTER." Irid. Jan. 15. Fox

hunting is te one sport tha,t is now

occupying the attention of local hunters,"-there having been seven of the animals bagged in this vicinity within the"l;t"few-days. - r-- -

'The smallest practical power motor in th .world, forms the electrical portion of new dental tool holder. . The notor-wiglw-only-four -ounces. ' j

THIN, NERVOUS PEOPLE NEED BITRO-PHOSPHATE

Guaranteed to Pot on Firm, Healthy Klrah and Increase Strength, Vtsror and Nerve Force

Weak, thin people men or Women are nearly always nervous wrecks; thus conclusively proving that thinness, weakens, debility and .neurasthenia are almost invaribly due to nerve starvation. Feed your nerves and all these symptoms due to nerve starvation will disappear. Eminent specialists state that the best nerve food is an organic phosphate known among druggists as Bitro-Phos-phate, a five-grain tablet of which should be taken with each meal. Being

la genuine nerve builder and not a stim-

ulent or hablt-rormlng drug, BitroPhosphate can be safely taken by the weakest and most delicate sufferer, and

the results following Its use are often simply astonishing. Weak, tired people regain strength and vigor; thinness and angularity give way to plumpness and curves; confidence and cheerfulness replace debility and gloom; dull eyes become bright and pale, sunken cheeks regain the pink glow of health. Bitro-Phosphate, the use of which is inexpensive, also wonderfully promotes the assimilation of food, so much so that many people report marked gains of weight in a few weeks. It is sold by Conkey Drug Co. and all good druggists. CAUTION: Although bltro-phos-phate is- unsurpassed - for relieving nervdusness, sleeplessness and general weakness. It should not, owing to its remarkable flesh-growing properties, be used by anyone who does not desire to put on flesh. Adv.

At the first chill! Take Genuine Aspirin marked with. the "Bayer Cross" to break up your Cold and relieve the Headache, Fever, Stuffiness. '"'. Warning! To get Genuine Aspirin prescribed by physicians for over 19 years, you must ask for "Bayer Tablets of Aspirin," and look for the name ''Bayer" on the package and on each tablet. Always say "Bayer." " Each "Bayer package" contains safe and proper directions for the relief of Golds also for Headache, Neuralgia, Toothache, Earache, Rheumatism, Lumbago, Neuritis and for Pain generally. Bayer-Ta blefe ofAspiiin Box of 12 Bottles of 24 Bottlei of 100-AIso Capsule AH druggists . Aspirin is the trads mark of Bayer Manufacture of Monoacetlcacldaater of SallcyUeacid

"Let's take it easy for a while"

. , , : -nestertieia ' i' - '"-'-V-VH j-! ; ' . ' G" HESTCRFBlJpS -; set', no limit on your smoke

enioyment. ; - That smooth,

ridi flavor goes to the spot and keeps on pleasing, right

,down. to tnc last half-Inch!

Remember the Dates, the Place and Watch for the Big Street Parade

THIS MASTER MOVIE Starts Thursday, Jan. 15th DOORS OPEN AT 1:30 SHOWS CONTINUOUS

y m m

VHERE THE HIGHEST GRADE

PICTURES ARE SHOWN

The Greatest of Great Productions Thursday, Friday & Saturday January 15th, 16th and 17th

Marshall Neilan HAS DONE THE STUPENDOUS THING. HE HAS OUTDONE THE DRAMATIC STAGE PLAY THAT HAS THRILLED AMERICAN AUDIENCES FOR TWENTY YEARS AND HAS CREATED IN ANITA STEWART, THE WHIMSICAL "MADGE," THE LOVING, HARD RIDING WAIF OF THE KENTUCKY HILLS, IN A STORY OF THE PICTURESQUE OLD SOUTHLAND OF BEAUTIFUL WOMEN, FAST HORSES, BOLD FIGHTING MEN AND TENDER ROMACES IT IS A STORY OF NIGHT RIDERS, OF GREAT FEUDAL BATTLES AND MOONSHINERS' GUN FIGHTS; IT IS THE STORY OF STATELY BALLS, 1 OF VILLAINY, OF GREAT RACE SCENES AND BLUE GRASS HORSES, OF THRILLING fOX HUNTS, OF THE COLONEL'S FAMOUS MINT JULEP AND OLD SAMBO'S LOVE MAKING.

fcr AsP a v N7 V t fat ir n

r i

fa., mm iwWJl iw Mm

ican Classic ld

PRIGES-Adults 50c, Children's Special Matinee Every Afternoon 25c

THE SMILING PICKANINNIES OF THE FAMOUS SOUTHLAND. THEY KNOW HOW TO WORK, HOW TO PLAY, BUT MOST OF ALL THEY KNOW HOW TO MAKE MUSIC, THAT STARTS YOUR BLOOD RACING, DANCING, TINGLING, YOUR BODY SWAYING, YOUR EYES GLANCING, YOUR FEET TAPPING.

TUI7ITW HFD CTDAICUT IT DO It yf

THE SUNNY SOUTH A PHCKANSNMY BAND FULL OF OLD SOUTHERN MELODY, SNAPPY JAZZ AND SWINGING RHYTHM. They Will Parade the Streets WATCH FOR THEM SPECIAL MUSICAL PROGRAM Including War Tax.

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