to receive excess when computation of tax greater than amount theretofore paid, § 377, subd. 3...... PAGE 333 .... to refund excess when computation of tax less than amount theretofore paid, § 377, subd. 4.. 334 to retain amount of tax to provide a fund of $250,000 for payment of refunds, § 382.... 336 when greater than amount theretofore paid, § 377, subd. 3. 333 when less than amount theretofore paid, § 377, subd. 4.. Computation of tax, § 377, subd. 2... 334 333 adjustment by comptroller, § 374. 329 estates and trusts, net income of, § 365, subd. 2.. 315 net income, § 358..... when greater than amount theretofore paid, § 377, subd. 3. Constitutionality of tax on Personal Incomes. Contract to assume tax illegal, § 385.. 246 333 190 337 Home Rule Principle involved in. 191 Contributions, gifts deductible from net income, § 360, subd. 9.. 289 241 gifts or contributions to certain deductible from net income, § 360, subd. 10 303 Corporations, individuals, partnerships, claims and demands, indemni fied against, § 366, subd. 3.... 321 tax, liability for, § 366, subd. 3... 321 County not to be divided in forming district, § 372..... 329 336 311 Debts, worthless, when deducted from net income, § 360, subd. 7.... 281 Deceased persons, taxed on estates of, imposed upon net income of, income to legatee, heir, etc., deductible, § 365, subd. 3.. 316 Decisions under the Corporation Income Tax...... 339 Deduction at source, no penalty for failure to return or pay same, except for fraud, § 366, subd. 5... 321 not re-collectible from withholding agent, § 366, subd. 5.. Deductions, apportionment and allocation of, § 360, subd. 11....... 306 321 PAGE at source, from income, § 366, subd. 1.. 319 comptroller's rules and regulations for, § 549.. 208 deceased person, estate of, when income paid to legatee, heir, etc., § 365, subd. 3.... 316 gross income, when part of, payable to U. S., state, etc., or to charitable corporation, § 365, subd. 2...... 315 net income, allowed; business, necessary expenses of, § 360, subd. 1 268 contributions or gifts, § 360, subd. 10... 306 debts, worthless, charged off, § 360, subd. 7....... 281 exhaustion, wear and tear, depreciation, obsolescence, § 360, subd. 8 ... 283 interest on indebtedness, proportion of, § 360, subd. 2.. losses in business, not compensated for, § 360, subd. 4. fires, storms, shipwrecks, theft, § 360, subd. 6.. transactions for profit, when, § 360, subd. 5....... 274 277 279 278 mines, oil, gas wells, timber, natural deposits, § 360, subd. 9.... 289 non-resident, apportionment and allocation of, § 360, subd. 11... 306 arising within state, § 360, subd. 11.. permanent improvements, betterments, new buildings, § 361, subd. 2 308 personal expenses, living or family, § 361, subd. 1.. 307 premiums on life insurance policies, what, § 361, subd. 4..... restoring property, when, § 361, subd. 3.... 308 308 non-resident, when not entitled to, § 367... 322 partnerships, what allowed in computing net income of, § 364.... 312 Definitions of foreign country or foreign government, § 350, subd. 9. 235 gross income, § 359, subd. 1.... 249 military or naval forces of the United States, § 350, subd. 3. PAGE United States, § 350, subd. 9..... 235 withholding agent, § 350, subd. 10.... 235 Dependents, exemptions allowed, § 362, subd. 2.. 310 Depreciation of improvements deductible from net income, when, § 360, subd. 9 Distribution of, § 382... Districts, county not to be divided in forming, § 372. paid in Liberty Bonds, property, etc., § 350, subd. 8.. Domicile defined and distinguished from residence. 289 336 329 state to be divided into, for administration purposes, § 372. Dividend, definition of, § 350, subd. 8. 329 230 230 199 Educational corporations, gifts or contributions to, deductible from net income, § 360, subd. 10.. 303 Employees and officers, penalty for violation of, § 384, subd. 2...... 337 337 beneficiary's net income to include distributive share, § 365, subd. 4 318 exemptions, § 365, subd. 3..... fiduciary, not to pay tax; when, § 365, subd. 4. to pay tax; when, § 365, subd. 3..... imposed upon net income of, § 365, subd. 3. income of, § 365, subd. 1..... non-resident, created by, taxation of, § 365, subd. 3.. 316 return, fiduciary responsible for making, § 365, subd. 2... 315 Excess to be refunded when tax less than amount theretofore paid, § 377, subd. 4..... 334 to be paid comptroller when greater amount theretofore paid, § 377, subd. 3 333 Exchange of property, gain or loss with respect to, § 354. 238 stock, new, issued in place of old, upon reorganization of corporation, § 354 238 Exemptions, amounts received through accident or health insurance, § 359, subd. 2-e....... 265 for benefit of disabled soldiers or sailors, § 359, subd. 2-e.. 265 war risk insurance act, § 359, subd. 2-e.... 265 workmen's compensation acts, § 359, subd. 2-e.. 265 of certain personal property, § 352.... 237 estates and trusts, income of, § 365, subd. 3.. 316 gross income, from premiums returned to insured upon life insurance policies, § 359, subd. 2-b.. 261 PAGE proceeds from life insurance policies paid upon death of insured, § 359, subd. 2-a..... 261 value of property acquired by gift, bequest, devise or descent, 262 interest upon bonds issued by war finance corporation, § 359, subd. 2-d 263 obligations of the U. S. or its possessions, § 359, subd. 2-d...... 263 securities under federal farm loan act of July 17, 1916, § 359, subd. 2-d.... partnerships, net income of, what allowed, § 364.. reduction of, when accounting period changed, § 370. resident taxpayer 263 312 326 taxpayer, receiving compensation from United States, amount of, § 362, subd. 3..... 311 United States official, to, § 362, subd. 3..... 311 Exhaustion, wear and tear, deduction allowance from net income, § 360, subd. 8 283 Expenses, ordinary and necessary, of business, deducted from net income, § 360, subd. 1....... 268 personal, living, family, not deductible from net income, § 361, subd. 1 306 Failure to return or pay same, when penalty does not attach, § 366, subd. 5 321 Fiduciary, beneficiary's distributive share to be included in return by, responsible for making re income for estate or trust, § 365, subd. 2 315 subject to provisions of this article which apply to taxpayers, § 369 324 when not paid by, § 365, subd. 4...... 318 Fixed or determinable income to be deducted and withheld, § 365, subd. 4 318 First levied, collected and paid, when, § 351..... 236 Foreign country or foreign government, definition of, § 350, subd. 9.. 235 PAGE Forms for return failure to secure does not relieve taxpayer from making return, From fires, storms, shipwrecks, theft, when deductible from net income, § 360, subd. 6.. 279 Gain and loss ascertainment of, § 353.... 237 ascertainment, in case of stocks of "fair market value”, 237 basis of, on inventoried property, § 353.... 237 property acquired before, on or after Jan. 1, 1919, § 353.. 237 sale exchange of property in determining, § 354. 238 none deemed to occur re-exchange of stock or securities; when, § 354 238 Gain through exchange stock or securities, § 355..... 241 amount in excess of par treated as gain, § 355..... Gifts, contributions deductible from net income, § 360, subd. 10...... 303 Governor to approve new positions and fixed salaries, § 5. 338 Gross income amount of, includes what, § 359, subd. 1............. 249 compensation for personal services, § 359, subd. 1. 249 deduction contracts, from, § 359, subd. 1.... 249 when part payable to U. S., state, etc., or to charitable corpora partnerships, returns showing, may be required, § 364.. 312 |