To the Comptroller of the State of New York: At the close of the business of this...... on June 30th, 191, the amount of its capital was... on June 30th, 191, the amount of its capital was.... $. the amount of its surplus was.... $. the amount of its undivided profits ally appeared before me, a notary public in and for the County of of the above-named Treasurer .... who being duly sworn according to law, did depose and say, that the foregoing report is just, true and correct, according as the accounts stand in the books of the the year ending on the 30th day of June, A. D. 191. Sworn to and subscribed before me, the day and year aforesaid. Notary Public. .. for L. S. REPORT BY SAVINGS BANK, TAXABLE UNDER SECTION 189 TAX LAW. Report of the for the year ending the 30th day of June, A. D. 191, made pursuant to provisions of Sec. 192 of the Tax Law. To the Comptroller of the State of New York: ..... .191. I make the following report of its condition at the close of its business on June 30, 191. 1. Bonds and mortgages at face. 2. Stock and bond investments at par*. 3. Real estate including banking house and lot at real value for banking purposes. 4. Cash on hand and on deposit. 5. Total of collectible interest and interest accrued but not due 6. Other assets 7. Total assets ..... $. 8. Amount due depositors, including interest payable.. $. 9. Amount of surplus and undivided earnings.... A. D. 191, person ally appeared before me, a notary public in and for the County of Treasurer of the above named who being duly sworn according to law, did depose and say, that the foregoing report is just, true and correct, for the year ending on the 30th day of June, A. D. 191. *NOTE.-Market value should be given when stocks and bonds are selling below par. STOCKS AND BONDS OWNED BY THE June 30, 191, worth less than their face value. REPORT BY FOREIGN BANKER OR FOREIGN CORPORATION DOING A BANKING BUSINESS AND TAXABLE UNDER SECTION 191 TAX LAW. Verified Statement of .... This Statement is a return of the full amount of interest or compensation of any kind earned and collected by... on money loaned, used or employed in New York State by the aforesaid .... during the year preceding the thirty-first day of December, 191, pursuant to the provisions of Chapter 500 of the Laws of 1900, relating to Tax upon Foreign Bankers. read the foregoing return and knows the contents thereof, that such return is a true statement, to his own knowledge of all interest and compensation of every nature received by... during the year ending December 31, 191. Subscribed and sworn to before me this..... day of ..... 191. APPENDIX FEDERAL TAXATION. THE FEDERAL INCOME TAX AFFECTING CORPORATIONS I. Introduction. The 1909 United States Tariff Act, officially entitled "An Act to Provide Revenue, equalize duties and encourage industries of the United States, and for other purposes," which became a law August 5th, 1909, provided for an annual tax upon the carrying on or doing business by corporations, joint stock companies or associations, including insurance companies. This legislation, known as the Federal Corporation Tax, was upheld by the Supreme Court in Flint v. Stone Tracy & Co., et al, 220 U. S. 107. The rate of this special excise tax was one per cent. upon the entire net income over and above five thousand dollars, received from all sources during the year, exclusive of amounts received as dividends upon stock of other corporations, joint stock companies or associations, or insurance companies, subject to the same tax. In the case of corporations organized under the laws of a foreign country, the tax was limited to the net income received from business transacted and capital invested within the United States, its territories, Alaska and the District of Columbia, in like manner as domestic corporations. The act of 1913 adds several new features affecting corporation, which were not present in the act of 1909. The exemption of $5,000 is taken away and they are now taxed at the rate of one per cent upon their entire net incomes, certain deductions, however, being allowed. They are required, under the provisions more particularly relating to the income tax, to make returns not only with respect to themselves, but also with regard to payments of interest and dividends made by them to others. Dividends received from stock holdings in other corporations must be included in reporting gross income and no deduction for such amounts is allowable. For the purpose of showing the changes made by the Act of 1913, a comparative table is provided, disclosing the essential features of the old and new acts. For convenience, the subject matter is arranged as follows: First. The text of the Act of 1913, followed by the provisions of the income tax sections of the Tariff Act with respect to the duties of corporations in relation to incomes paid by them to others. Second. A comparative table of the essential features of the Corporation Tax provisions of the Acts of 1909 and 1913. Third. A digest of decisions under the Act of 1909. Fourth. The Treasury Regulations issued under the present. Act. THE FEDERAL INCOME TAX OF 1913. SECTIONS OF THE INCOME TAX AFFECTING CORPORATIONS. Tax of 1 per cent. imposed on entire Net Income of Corporations. Exemptions. G (a) That the normal tax hereinbefore imposed (one per centum per annum) upon individuals likewise shall be levied, assessed, and paid annually upon the entire net income arising or accruing from all sources during the preceding calendar year to every corporation, joint-stock company or association, and every insurance company, organized in the United States, no matter how created or organized, not including partnerships; but if organized, authorized, or existing under the laws of any foreign country, then upon the amount of net income accruing from business transacted and capital invested within the United States during such year: Provided, however, That nothing in this section shall apply to labor, agricultural, or horticultural organizations, or to mutual savings banks not having a capital stock represented by shares, or to fraternal beneficiary societies, orders, or asso |