Daily Democrat and news. [volume] (Davenport, Iowa) 1859-1864, 1861-08-12

tennessee. 80. 6o9,4Ss Dist. Cclumbia 49,437
SEC. provi les that the Secretary OF
the Treasury may establish collection
districts within the Several States and
Territories, and may appoint Assessors
and Collectors for such district on or
after the second Tuesday of February,
1862.
SIC. 10 regulates the bond to be given
by the Collectors.
SECS. IL and IL prescribe the mode
OF appointment and qualification of AS
sistaut Assessors, and the regulations
for their action.
SEC. l3 enscts that the direct tax
shall be assessed on all lands and lots OF
ground, With their improvements and
d~elliny houses, which shall be valued
~ the Assessors, at the rate they are
~orth in moncv on the first day Of
April, 1862. Procided That property
helongin" to the United States or any
State. or exempted from taxation by the
la~s Of the State, together with such
property belo, ging to any individual,
who actually resides thereon, as shall
he worth the sum of FIVE hundred dol
lars, shall be exempted. And proud. d
further, That regard shall be had to any
valuation that may have been made IN
der the authority Of tue State or Terri.
tory at any period nearest to said frat
day Of April.
SECS. IL and Is require all persons
<.prn,Sk hn NTH l,sNc -
their taxable property lying within the
collection district.
SEC. l6 imposes fiae Of $500 upon
any person who shall deliver irandu-
lent Inst, or attempt to evade the law.
SsCs. Il, ls, 10 aud 90 relate to the
prepa,a alton of lists OF nonresident own.
srs Of property.
SECS. q to os provide for the prcpa-
ration and publication Of the lists above
referred 10, Tor appeals from the doings
f Assessors, and the equalization Of the
valuation for the several districts If the
State.
SIC. 30 provides that, after such
equalization and correction, the am ,unt
assessed upon the State shall be dis,rlb-
uted to the several collection districts,
and rate bills made out in accordance
herewith.
Sscs. so to 81 treat of the compen-
sat,ou, &C., of Assessors and Collectors
SECS. IS to As arc occupied with the
details OF collection, and the mode OF
proceeding in case Of distrxint.
SEC. IS cnac,s that any State may
assume and pay into the treasury Of the
United States its quota of the tax in lis
own way and manner, by and through
its oar officers, assessors, and collectors 8:
that 1t shall be lawful to use for this
purpose the last or any subsequent val.
uation made for the purpose Of State
taxation, and any such State she'll give
notice to the Secretary OF the Treasury,
1 on or before the second Tuesday OF Feb
ruary next, and IN each succeeding year
thereafter, of its intention TO assume and
pay the direct tax imposed bv this act,
shall be entitled to deduction Of & teen
per centum on the quota apportioned to
such State; Provided, however, that
the deduction shall only apply to such
part OF the same Is shall be paid into
The treasury by the last day OF June 10
the year TO which such payment relates
and q deduction of ten pei centum to
such part as shall be paid by the last
day OF September.
SECS. Al to 81 further regulate the
! qualifications and powers Of collectors.
SEC. So relates to the income tax, and
We give it in full.
Be It further enacted, That from and
after the frs, d y OF Janusry next there
shall BE- levied, collected, and paid, up. n
the annual income OF every person resi-
ding in the United States, whether such
income is derived from any kind OF
property, or from any profession, trade,
employment or vocation carried on in
f. The United Sta. es or eisew here, or from
any other source whatever, if such an
noal income exceeds tho sum Of eight
mildred dolfSss, . tax Of three ref cent.
um sn the amount Of such excess Of such
iaeoms abovo eight hundred dollars.