Document Type
Circular
Type
text
Format
Publication Date
11-1954
Publisher
Agricultural Extension Service, South Dakota State College
Circular No.
0518
Pages
32
Description
Every person whose gross income during the year is $600 or more MUST file a return even though no tax is due (except that any individual who has attained the age of 65 before the close of his taxable year is required to make a return only if he has for the taxable year a gross income of $1,200 or more). Gross income is total income (subject to tax) before any expenses are deducted. If at least two-thirds of your gross income is from farming and your business year starts January 1, you have two choices. Either, (a) File your return and pay the tax on or before January 31, 1955; or (b) File an estimate of your tax and pay this amount by Jan. 15, 1955, then file your return and pay any balance due by April 15, 1955. If your business year does not start January 1, you may file your return and pay the tax on or before the last day of the first month of the succeeding taxable year; or you may file an estimate within 15 days and a return within 3 1/2 months after the end of your business year.
Language
English
Recommended Citation
Agricultural Extension Service, South Dakota State College, "Farmer's 1954 Income Tax" (1954). SDSU Extension Circulars. 0518. https://openprairie.sdstate.edu/extension_circ/691.