The Mason City Globe-Gazette from Mason City, Iowa on February 20, 1931 · Page 5
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The Mason City Globe-Gazette from Mason City, Iowa · Page 5

Mason City, Iowa
Issue Date:
Friday, February 20, 1931
Page 5
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Page 5 article text (OCR)

1 4$ jty FEBRUARY 20 a r* ·· · 1931 MASON CITY GLOBE-GAZETTE lCIALS GIVE ^INFORMATION Vagle Person May Claim ·:} Exemption of $1,500, Jl They Say. ' 4 ."A single person, or a married Vrson not living with husband or ' //ife, may claim an exemption of ; jl.SOO," according to local govern- ment officials in discussing the filing of federal income tax information. "A person who was the head of a family or was married and living with hushand or wife during the entire taxable year, may claim an exemption of $3,500. If husband and wife file separate returns, the exemption may be taken by either or divided between them. "A 'head of a family' is an individual who actually supports and maintains In one household one or more individuals who are closely connected with him by blood relationship, relationship by marriage, or by adoption, and whose right to exercise family control and provide for these dependent individuals is based upon some Moral or legal .obligation. May Claim Credit. "In addition to the personal exemption, a credit of $400 may be claimed for each person (other than husband or wife) under 18 years of age, or incapable of self-support because mentally or physically defective, who was receiving his or her chief support from the tax-payer on the last day of the taxable year. This credit can be claimed only by the person who furnishes the chief sup- port, and cannot be divided between two individuals. "In case tne status of a taxpayer changes during the year, the personal exemption shall be an amount which bears the same ratio to $1,500 as the number of months the taxpayer was single bears to 12 months, plus an amount which bears the same ratio to $3,500 as the number of months the taxpayer was married and living with husband or wife, or was the head of a family, bears to 12 months. For this purpose a fractional part of a month shall be disregarded unless it amounts to more than half a month, in which, case it shall be considered as a full month. The exemption shall not exceed $3,500 where the head of a family is married during the year. Time of Death Taken. "In the case of an individual who dies during the taxable year, the personal exemption and credit for dependents shall be determined by hia or her status at the time of death. Full credits shall also be allowed to the surviving spouse according to her or his status at the close of the taxable year. "Where a return is filed on Form 1040 for an estate in process of ad- ministration, or a trust, an exemption of $1,500 may be claimed.". Fairbanks Newspaper Bought by Nasbua Man NASHUA, Feb. 20.--Robert Goodsell of Nashua, has purchased the. newspaper published at Fairbanks and will take possession Immediately. Robert was born and reared in Nashua. He is a graduate of the Nashua high school. He attended the Iowa State University a short time, going from there to Minneapolis a year ago where he was employed upon the Minneapolis Journal. Flames Destroy Miller Residence Near Aredale AREDALE, Feb. 20.--Fire destroyed the home of Mr. and Mrs. George Miller who live five miles northeast of here Wednesday afternoon. Mr. and Mrs. Miller were away at the time of the fire. Neighbors saved all of the household goods except the things in the attic. The fire started on the roof. A day on the now planet Pluto last 200 years. It is probably called Afonday.--Springfield (Ohio) Sun Rudd Basketball Players Entertained by League RUDD, Feb. 20.--Members of the Epworth league entertained Wednesday evening in honor of the basketball boys. Forty-three were present. Robert Cerwinskl had charge of the games. A missing Rocky Hill girl was found since to have married a youth who also disappeared at the sam« time. Detectives made the discovery by putting one and one together.-Hartford Times. R I C H A R D '·«. V - I , ' ' ) . ' · '/Vl' ...|!j w/'v^V'ri.vT^- 1 ' ..^aaaiiiM I R E N E DUNNE E S T E L L E T A Y L O R William Collier, Jr. E d n a M a y O l i v e r A n d A s s e m b l a g e o f S u p e r l a t i v e A r t i s t s T H U N Adapted to the Screen by Howard Eflabroolc Dynamic Conception of the Great Ofcfa- AomaLand Rush Executed by the Eminent American Artist Fredrlc C. Hadan. SUNDAY O U R THAT SHOOK THE WORLD! The Oklahoma Land Rush... Greatest Moment the Screen Has Ever Known! Fifty Thousand Stampeded Humans Sweep in a Boiling, Brawling Mass Across the Line ... Crazed Men ... Frenzied Women · . . Wild-eyed Children .. . Sprawling Under Murderous Hoofs ... Careening On . . . On Into a Wilderness that by Sundown Became the Maddest Empire Ever Known! BUT ONE OF THE MYRIAD SCENES IN THIS COLOSSAL PRODUCTION, UNMATCHED IN SWEEP OF ALL SHOW AGES!

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