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ncome Tax Bnlletio
Available From VPI
Having trouble figuring up your 1952 farm income tax? Then you'U be interested in a new bulletin now available from county agents or from the VPI Agricultural Extension Service at Blacksburg. It’s Bulletin 195 (revised). “Farmer’s 1952 Income Tax.” The publication explains new rates of taxation, and changes made in regulations
^affecting depreciation and long-term ^-apital gain. It also tells how to igure depreciations, and deductions, ind gives many other tips to make he job easier. Every person whose gross income during the year is $600 or more must ile a return even though no tax is iue. If at least two-thirds of your gross income is from farming, and your business year starts January 1, you have two choices. Either file your return and pay your tax on or jefore January 31, 1953; or file an estimate of your tax and pay this amount by January 15, 1953, then file your return and pay any balance due >y March 15, 1953. If your business year does not tart January 1, you may file your eturn and pay the tax on or before he last day of the first month of the succeeding taxable year; or you may ;ile an estimate within 15 days and a eturn within 2i months after the lend of your business year.
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