Newspapers / The Roxboro Courier (Roxboro, … / Jan. 14, 1943, edition 1 / Page 7
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THURSDAY, JANUARY 14, 1943 North Carolina Income Tax Regulations Cited By Gill RALEIGH, Jan. 14. lt has been the custom heretofore to mail State of North Carolina in come tax blanks about the first week in February. This year we have' decided to mail out the blanks earlier and to have them available now flcr immediate dis tribution. These blanks are being sent to all persons who made returns for 1941, as well as to all persons who request blanks. Additional blanks have been mailed to our deputies throughout the State • i I The Devil chuckles whcnTusccs 0l home left unprotected by fire insurance See us and forget Kim/ THOMPSON INSURANCE AGENCY Roxboro, N. C. HAPpr : NEW YEAS very kind to us and gave us a nice share of your bus iness. For this we extend our sincere Thanks and ask that you continue to favor us. We have a nice Stock on hand and suggest that you drop in at any time and let us try to fill your needs. During the New Year we are going to try to supply you with the Best that we can possibly buy. UloQtfrj, bong & Howard NEW Telephone Directories Are Out IF you.do not have YOUR NEW DIRECTORY please Dial 2301 It is very important that you have your new directory (new Directory has Brown cover) as there have been quite a few changes made in the old numbers and new Telephones have been added to the list. * Morris Telphone Co. and are available for all who de sire them. We are mailing these blanks earlier this year as a conveni- 1 ence to thousands of new in come tax payers who have never, before made returns and who' would like ample time in which to study the forms, and also be- I cause many taxpayers have ex pressed the desire to pay their income tax earlier. To n;v< income tax payers, I think we should make a sugges-] tion: It is your duty to secure the blanks and make the re- j turns. Failure t)o receive a blank] from this office does not in any way excise. Naturally it Would be difficult for us to know in ad-1 vance exactly who> is liable for] the 1942 tax, and it is only fair! to say now that failure to file by I March 15th will make the tax-' payer liable for penalty and in- [ tefest in addition to the tax. It will be the nilicy of this de partment, to the limit of its sac-J ilities and resources, to discover' the identity of taxpayers who] are requred by law to make re-] turns and who fail to do so. We 1 are equiped by" law with ways| and means to get a great deal of i this information. For example, all employers are required by law to furnish the Revenue Department with in-1 formation respecting their em ployees wH» are liable for in- J come tax. Blanks upon which such information should be fur- 1 nished have been mailedl to all employers who have previously, furnished this information, and a sufficient number of blanks of this character are available upon request. It is to be hoped that all employers will take notice of this law and comply forthwith; This information is required to be furnished by all employers on or before March 15, 1943. From March Ist to March 15th inclusive, the deputies and au ditors of this department will be available in public places in cities ‘and towns conveniently located (This usually includes all county seats and principal I)cwns in the various counties.) to aid taxpayers in the making of their proper returns. In a few days, notices vdill be posted in the Court Houses, Post Offices, and other public places, as to where and when the re presentatives of the department will be available in the various communities. All income tax returns for the calendar year 1942 are due on or’ befitre March 15, 1943. The Com missioner of Revenue, for good cause, may grant reasonable ex tensions of time within which to file. However, all reports for ex tensions must be addressed di- Revenue at Raleigh and must be rectly 1)o the Commissioner of made prior to March 15, 1943. INDIVIDUALS LIABLE FOR STATE INCOME TAX (NORTH CAROLINA) (a) Every resident having a gross income in exc:ss of $5,000.- 00 from Business or Profession. Every resident having a net income during the year in excess of $1,000.00, if single, or married woman, or $2,000.00, if married man, is required to file a return. (Including income received by Federal Employees.) (b) Every non-resident hav ing a gross income within this State in excess of $5,000.00 from Business or Profession. Every non-resident receiving a net income during the year from within the State in excess of the prorata exemption as the income in this State relates to the total income, is required to file a return. (c) The return is required to be filed on or before the 15th day of March, 1943, covering the calendar year 1942. In case of sickness or disability, extension may be obtained for filing re turn. provided permission is granted by the Commissioner. (d) The payment of the TaXj is required to be made at the: time the return is filed, provid-j ed, if the tax exceeds (SSO) Fifty Dollars, payment may be made in two installments: one-half on! the date the return is filed, one half on or before September 15th following, with interest on the deferred payment at the rate of six percent per annum. EXEMPTIONS (e) A personal exemption cfj PERSON COUNTY TIMES ROXBORO, N. C. $2,000.00 is allowed in case of a 1 married man living with his' wife, or a widow or widower who is head of a household, 1 maintains same and therein sup-' ports one or more dependent re-! latives. In addition, $200.00 ex-! empticn is allowed for each per son dependent upon and receiv-' ing support from the taxpayer j provided, that such dependent is' under 18 years of age, or, is in-1 capable of support because men tally or physically defective. In case of a single person a person al exemption of $1,000.00 is al lowed. In the case, that both the husband and the wife make separate returns, the husband will take $2,000.00 ■exemption and dependents and the wife $1,000.00. Husband and wife are] not permitted to make a joint return, unless income is received jointly and cannot be separated accurately. ITEMS NOT DEDUCTIBLE (a) Personal expenses and family living expenses. (b) Amounts paid out for new buildings, permanent improve-1 ments, betterments or additions, i (c) Depreciation on automo biles, perycnal homes or home furniture, fixtures, etc., used for personal or family purposes. (d) Premiums on Life Insur nace policies. (e) Expenses of operating an automobile to and from work, or to and from residence to of fice or for pleasure. (f) Expense of educating a child, or money spent for living! or educational expense of any| person. j (g) Donations, contributions orj gifts made to others than organ izations, associations or institu-1 tions operated exclusively fori religious, charitable or educa-1 tional purposes, are met allowed] as deductions from income. (h) Repairs on a private home of taxpayer nor fire insurance on such home. Taxes however are Cash and Carry We have moved to our new location and we are ready for you Our New Store offers supper Food Values under the Cash and Carry system. We think that you will like it and we would appreciate a trial from you. Complete Line of Food Values " . • Carl Winstead Grocery Now in Store Formerly used by A & M Food Shoppe 1 allowable deduction. Ci) Any amount expanded in ( restoring property fjcr which credit has been taken in depre ciation or otherwise compensat ' ed. (j) No deduction will be al j lowed for gasoline taxes, auto mobile licenses, registration fees, ] inheritance, sales, gifts. and in come taxes. (k) Loss fi/cm bad debts, un less previously included 'in gross income in a return made under the provisions of this Act. (l) No deduction shall be al- j lowed for losses arising from, personal loans or endlcrsements or other transactions of a per-] sonal nature not entered into] for profit. (m) Losses from sale of stocks,] bonds and icther securities, ex-1 cept such losses may be deduct ed only from the profits made in the sale of securities, unless, , the taxpayer - owned the securi ties sold for a period of not less i than two years. The two-year limitation does not apply Bo com | modity losses. , (n) No deduction shall be al j lowed for expenses or losses in curred outside of North Caro lina which reduces the income actually earned in this State. « MACHINERY The U. S. Department of Agri culture has announced an order releasing all new farm machin ery and equipment which was .“frozen” in wholesalers’ and dis | tributors’ stocks cn October 31. I j MEAT j According tb best available | 1941 figures, the average Ameri ! can consumed 70.4 pounds of $25 REWARD For any watch or clock that we fail to repair. GREEN’S “The Square Deal Jeweler” Crying- Towel To Be Supplied By Mrs. Winstead Mrs. O. H. Winstead, of Rox boro and Semora, owner-opera tor of Winstead’s florists, has a piece of cloth in her window. On it, in black letters are the words, “Crying Tfcwel.” It is for special benefit and use of those who grumble and belly-ache too much about gas shortages war taxes, etc. SHOE A new “high style” type of footwear is coming to the fore ■ : __ v pork, 63.1 pounds of beef, and! only 20.3 pounds of chicken. You do not have to ride for your Beer At the close of the clays’ work you can get your beer right in the business district— Drop In For Draft or Bottle Clean Sanitary Mugs Come In Anytime Tuxedo Billard Parlor Under Peebles PAGE SEVEN fifcnt in the women’s shoe field —the long neglected and sorely needed women’s work shoe, ac cording to a recent announce ment. RATIONING Point rationing, to balance buying among similar articles and prevent runs on any of them, will begin early in 1943, with the issuance ts War Ra tion Book No. 2 to all civilians. AT FIRST —Mfc. TOV** 666 TABLETS. SALVE, NOSE DROPS Get 666 at Thomas & Oakley Drug Store
The Roxboro Courier (Roxboro, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Jan. 14, 1943, edition 1
7
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