SiXTION TWO—]
Short Form Helps
Small Taxpayers
In Filing Income
Entire Time Elapsed to
File Return Less Than
15 Minutes
The 1953 North Carolina General
Assembly gave the smaller taxpayer a
helping hand—a short form (D4OO-A)
which may be used by taxpayers whose
income is derived solely from salaries,
wages, commissions, interest or divi
dends.
As State Revenue Commissioner
Eugene Shaw recently commented, the t
short form was devised to eliminate]
the necessity of non-business persons*
keeping books and records of their in
come and deductions and U make the
filing of returns as convenient as pos
sible.
The single-sheet form is simplicity
itself —as easy as ABC. Here is how j
a mythical North Carolina taxpayer
would go about it. |
Like so many of his contemporaries,
this hypothetical taxpayer is named
John Doe. He lives on North Main
Street in Anywhere, Tar Heel County,
North Carolina. He is an employee
of the Acme Distributing Company in
Anywhere, and makes $350 a month,
or $4,200 a year, in salary.
He and Mrs. Doe have a daughter,
Mary 14 and John, Jr., 12 years old. j
One night after work he decides to j
tackle this job of filing his Stat® In-1'
come Tax, and finds that the short
form allows him to finish the “chore"
in a very few minutes.
At the top of the form he fills in
his name, his street address, town,
county, and state.
In Block A, he answers Question 1
“yes”, indicating that eh did file a
return with the Department in 1952.
Both parts of Question 2 he also an
swers in the affirmative. In the block
under Item 3, he lists the names, ages, :
and relationship of his children. (If ’
he had other dependents he would have 1
entered them here.) Questions 4 and
5 he leaves blank, as they have to do
with single men, or married men *
whose spouse had a separate income, i 1
Moving on to Block B, on the first!
line of Item 6 he gives the name and
address of his employer, and on the ■
extreme right in the proper block he 1
gives the total income paid him by hisl!
employer during ’53, or $4,200. He al-!!
so lists this amount in the block on i
Item 7, as his total salary, as he work
ed for only one employer.
Item 8 he leaves blank, as he had no j
intprpsf nor anv subsist- ;
1951 CMC Vfeton
EXTRA SPECIALS FOR THIS WEEK
_ JK Hrs Hrs
’49 Ford, 2 dr. Sedan $595 i
’47 Ford Club Coupe $3951
*46 Ford, 2 dr. Sedan $3951
’47 Chev. Club Coupe $3951
1953 FORD 4 dr. Sedan IQQ C I 1953 FORD VICTORIA (tJQQC
Two-tone Green. Fordomatic, fn.. y equipped. tD AZJ H* ■**** **
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North Broad Street W.P. “Bill” JONES, Manager Phone 58
Page Eight
| Celebrate Golden Wedding Anniversary |i‘
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Here is pictured Mr. and Mrs. J. Frank Miller, who celebrated t
their golden wedding anniversary at their home on West Church f
Street Sunday afternoon, February 14, from 3 to 5 o’clock. Open i
house was observed, when over 100 friends called to offer their con- E
gratillations.—(Evelyn Leaty Photo).
ence allowance from his employer. |
His Gross Income (Line 9) is also
'the same, $4,200.
On Line 19 he enters the standard
I deduction, allowed on the Short Form
only, of 10 per cent, which is substi
tuted for a listing of all his deduc
tions. If he had made more than $5,-
000, he would have been restricted to
a SSOO deduction, as the maximum
blanket deduction is SSOO.
A little simple arithmetic, subtract
ing the total on Line 10 from that on
Line 9, and he arrives at his Net in
come, which is $3,780. Then, having
read the instructions on the reverse
side of the Short Form, he computes
his Personal Exemption, which is $2,-
600. ($2,000 for himself as a married
man, S3OO for each of his children.)
He enters this amount on Line 12, and
subtracts from Line 11, which gives
him his Net Taxable Income of $l,lBO.
Then he moves on to Block C. On ,
Line 14, he finds that he must pay
3 per cent tax on the first $2,000 of
his Net Taxable Income, not on his
gross income. So, multiplying the
$1,180.00 by .03 he finds that his tax
is $35.40.
He enters this amount on the ex
treme right of Line 14, repeats it on j
the extreme right of Line 19, and j
acrain on Line 20. He signs the line I
THE CHOWAN HERALD, EDENTON, N. C.. THURSDAY, FEBRUARY 26, 1954.
I which is indicated “Signature of Tax
payer,” his wife witnesses his signa
ture by signing the line in the lower
left-hand corner of the form, he at
taches his check for the $35.40 (taxes
of less than $50.00 are payable in full
at the time of filing), and the form
■
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Truck Bargains
’SO Chevrolet Panel Truck
$595
’47 Chevrolet Pickup Truck
$350
’49 Chevrolet 2-ton Truck
$795
and check are ready for mailing.
Time elapsed, less than 16 minuteß.
John Henry Mitchell
Dies After Long Illness
John Henry Mitchell, 79, died at his
home on East Church Street at 1
o’clock Saturday morning after a long
illness. A native of Chowan County,
he was a retired employee of the
Edenton Cotton Mills.
Surviving are his wife, Mrs. Gib
bie Mitchell; two sons, Clifton J.
Mitchell and Gibson Mitchell, both of
Edenton; two daughters, Mrs. Elva
M. Wright of Fayetteville and Mrs.
Murray Harris of Tarboro, and two
sisters. Mrs. Ida Belch of Norfolk and
Mrs. J. D. McClenney of Edenton.
Nine grandchildren and three great
grandchildren also survive.
Funeral services were held in the
Assembly of God Church, of which he
was a member, Sunday afternoon at 3
o’clock. The pastor, the Rev. J. H.
Anderson, officiated, assisted by the
Rev. D. B. Lawrence of Elizabeth City,
ELLERY QUEEN RELATES
TRUE MYSTERY STORY
Amateur sleuths have been respon
sible for unraveling many crimes in
America. Ellery Queen, noted author
of mystery novels, tells how a de
tective-story fan stepped in and solv
ed a mystifying murder that had baf
fled the police. Read this exciting
story in the March 7th issue of
THE AMERICAN WEEKLY
Magazine In Colorgravure With The
BALTIMORE
SUNDAY AMERICAN
. Order From Your
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a former pastor. Interment was ini
, Beaver Hill Cemetery.
Pallbearers were: Jesse Perry, Joel
Williams, Davis Cartwright, Roland
Woolard, J. D. Ellis and H. M. Mea-
»’ dows.
i IN “NEW BROOM” EXERCISE
Taking part in NATO’s five-day an
' ti-submarine exercise off the south
■ eastern coast of the U. S. with Patrol.
1 Squadron 18 is James A. Harris, avi- 1
Would tjoti trade a *
Pfenwjftra
Dollar?
0 You can if you use Natural Chilean Nitrate of Soda
for your top-dressing and side-dressing needs. It costs a little
more because it’s worth more. But the difference in cost
usually can be measured in pennies per acre, while the differ*
"1 ence in value often amounts to dollars per acre.
Chilean “Bulldog” Soda gives you generous extra value.
The nitrogen is 100 per cent nitrate. It’s 100 per cent available
(quick-acting); 100 per cent dependable. The minor elementa
make crops stronger, healthier. The sodium—26 pounds in ,
every 100-pound sack—is a key to maximum returns on your j
entire fertilizer investment. It offsets the bad effects of acid* ;
forming fertilizers...increases the efficiency of mixed ferti*
lizers containing them. It releases “locked-up” potash in the i
soil...increases the availability and efficiency of soil phos
phate... reduces potash, calcium and magnesium losses by
leaching...develops larger, deeper root systems.
Sodium builds up the productivity of your land— more
each year. It’s an essential element for some crops... ben*
ficial to most and necessary .
for maximum yields of many.
Pennies-per-acre differ- A „
ence in cost may mean W niTttATt OfsoDaljlj '**■** m
dollars-per-acre difference RMi / 'jmi ms sstt dt
in value to you. Chilean j**-I UATCHEI
“Bulldog” Soda is the best / y.i«
fertilizer your money can f
buy. Use it for all of
CHILEAN
gsoPA^S
’49 Ford, 2 dr. Sedan $595
’sl Chev, 4 dr. Sedan $995 111
’sl Chev, 2 dr. Sedan $995 111
’52 Studebaker, 2 dr. $1195111
I ation machinist’s mate first class,
i USN, son of Mrs. Mary C. Harris and
husband of the former Miss Mary J.
Harris of Roseburg, Oreg.
Nicknamed “New Broom,” the ex
ercise includes combined u. S. Navy
and Canadian naval and air unit. It
is designed to provide training in anti
submarine warfare and hunter-killer
operations for forces of the two coun
tries operating jointly under NATO
I command.