Juliet signal. [volume] (Juliet [i.e. Joliet], Ill.) 1844-1???, 1862-11-11
Tax Law.

The following covenient summary Of the
tax Ia" is given in Thompson's Bank Mute
Reporter:
Bankers mot cOrpOra,ed bauks) pay q
| license Of SlU0.
Bankers receive deposits, discount and
| pay checks and drafts
b. okers pay a lissnce Of $50.
brokers huy and sell specie, uncurreut
| money. stocks and exchange.
Banks that do any brokerage bu iness.
a. deemed above, must take Gut IA brokers
i:snse CT $50.
Of SIS.
For bond and martgnge stamps are re-
/ CURED h.T each instiumei't-ose for the
bohd and enc f,r the mpitg#sa.
| To '"c'me tax Is to be yaId on the IL,
come oi the year comm Ac'ny IN the Ist -
1a' vary Ioo2, 30 That va the evening Cf
tbe Sl>t OF December everybody shnuid
! nave very clear record o; yheir it.eurue
gains or profits tor the year. And. as many
sources OF Income. such as dividends and
railroad stocks and b IDds, insurance st .eks
saving bank interests, etc. lthey having
already pa'c the Income tax J, are nut again
taxed, 1t, therefore. becomes necessary TO
have clear record Of the sources of in
come mat there may be no dispute with
the assessor.
The income tax for the year 1862 is nav
able on the LIST Of May, 1868.
A man ia business must make nm Tho
mex FRONTS OIL the business for the year. and
pay the the tax on the amuunt. less S6Oo
:, a man may,outside Of his business,spen
all and even more than his profits in bnsi.
h.
all net business profits, except the S6OO
And 50 with salary; all over 5000 mus,
be taxed, though personal or fas,ilv az No.
ses consume it all.
Checks, d ats and orders fer nons,
whether ut sight or on time. If for snms ~
So or under, are not required to be stamp
ed.
Notes Of hand, due bills, &c. fer sums Of
stamped.
Certificates Of deposit, for spy ,moup,
require stamps two cents for one bupdre5
dollars and under, Eve cents for an o,sr
one hundred dollars. 0-'
All checks and sight drafts for sums over
~ require only two cents for any amount.
Time drafts and notes require stamps in
upwards.
Foreign drafts, if single or solo. vbsths,
at sight or on time, are on the sumo seals
as inland time drafts and notes of hand
but u drawn in sets, the frsf, second. and
third must each be stamped according 10
the same scale rs foreign bills in ats.
three cents and upwards.
The payer is required to stamn hill.
made abroad at the time OF acceptiur n M
time; and at the time Of paving IL Ar
sight
The party attaching or first n.ino N.
stamp Is required to cancel it. by putting
bis initials and the date upon it. The neps
atty Tor not doing so is Fifty d. liars. hut In
case the maker Of the instrument omi.s 10
cancel the stamp, the party receiving il
OF The payer may cancel il. This. how.
ever, will not relieve the maker from the
penalty.
Alter naming few "certifcates.u sueb
as shares OF stock, depOsites, etc., etc. the
law says, Certificates Of any other de-
scriiption than thOse specified, ten cents
"A great many papers in common use
VIII necessarily be changed in form, from
certificate to assertion Of facts. Ia other
words:
A thousand and one lodges to avoid he
stamp &C. will be adopted; but as a sener.
al thing. good business men will nav the
tax on their business Transactions rather
than trust to dodge that may or NAV not
stand 10 Law. wv