The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1862-05-24
The New Tax Dlll.
Washington. Nav %

Washington, May %.
The Tribune says the friends Of San.
ator Simmons tax bill arc confident i,
will be adopted. Tho following ia the sec
ton relating to incomes: "And be it fur.
Their enacted, that the act entitled an ac
TO provide increased revenues from i'm.
ports to pay interest on the public deb
and for other purposes approved Angus,
9th, 1861, be continued, but the Same il
hereby amended and modified AZ follows
LIST, After the first of July. 1862, there
shall be levied, collected and paid annual
y apen yearly gains, profits or income oi
every person residing in the y. S., Wheth.
er derived from any kind of profits, rents,
interest, dividends or salaries, or from any
profession, trade, employment or voca-
ton carried on in the IT, g. or elsewhere,
or from any other source whatever, inclu.
ding the pay received by all officers of the
Government of the u. s., members and
delegates in Congress, except ss hereinaf-
ter mentioned, if such annual gains, prof.
its or income exceed the sum of six hun
dred dollars, and does not exceed the sum
Of SIX thousand dollars, a tar of per cent.
upon the amount Of said income above
said sum Of 5000; if said income exceed
the sum Of S6. 600, and does not exceed
the sum of $50, 900, tax of s per cent.
on such income above said sum Of Sc 900;
upon the income, profits, gains, rents and
dividends accruing upon any property,
securities and stocks owned in the u. s.
by any citizen thereof residing abroad and
not in tho employment Of the Govern
ment Of the y, s., aud upon al incomes
which exceed the sum Of 46 900 per year,
q tax of7lpsr ceutum upon the amount
Of said Income over the said sum of &c.
900. and there shall be added to the list
Of persons subject to the payment Of in
come taxes in the 10Th section of said oct
all corporations or societies for religious
or literary pursuits, whose annua! income
exceeds the sum Of st 900, and upon their
income above that sum there shall be paid
the same rates Of tar Is are paid BY indi-
viduals, provided in corporations or So
cieties whose incomes are devoted to the
publication and circulation of the Holy
Scriptures, or religious tracts, or for the
support of religious missions, foreign or
domestic, or devoted solely to education,
shall be excluded, and provided further
that SO much of the income of every per-
son, corporation or society subject to be
taxed by this act as is derived from the
interest on securities of the Government
of the u. s. shall be taxed i per centum
and no more, and provided further that
there shall be no more than 8 per centum
levied ON the income of any person unless
such annual income exceed $l0, 900, If
the same or greater portion thereofis de-
rived from any profession, trade or bust
ness carried on in the u. s. or elsewhere,
nor shall any income tax be assessed on
the salary Of any officer Of the Govern
ment of the u. S. whose salary il for
hidden to be diminished during his con-
tinuance in Office by the Constitution oil
The U. S. The time fixed for the pay
ment of the income tax in the first section
of said act of August 9Th, 1861, is here
by extended TO the FIRST day of October,
1869, when the same shall be due and
payable, and il not then paid shall draw
interest thereafter at the rate of o per
cent. per annum, and after said year said
income tax shall be due and payable on
the 10th day of June in each year as pro-
vidcd in said section. So much of the
50th section Of said act as provides for
the appointment Of assessors and assistant
assessors, collectors and assistant collect
ors together with the duties and bonds
is hereby repealed.
This section meets the approval even
of : number of Senators who are opposed
to the other features Of Mr.. Simmons bill.
and it will probably be passed.
The opinion is gaining ground here that
the rebels will not give battle before
Richmond, but will evacuate.
There is very high authority for the
opinion that the fugitive slave law does
not extend to the District Of Columbia.
Members of the Cabinet and Senator'S,
whose legal knowledge is of the 6rst or
dot IN fhsa