Litchfield enquirer., 1863-05-07
The Annnal Tax under' the Excise

Law.
 The dnassal assesslIent under the excise law takes place the first of May.
 Carriages. plates. &cs are then to be returned and assessed. las2l
 Ail1icsDsss must be renewed, and are here after to be taken the first of May, and will ex pire on that date. excepting those made liable by commencing business during intervening months, and thase will also expire the first ol May following.
 Persons now holding licanses which expire in September. or at any time thereafter, before May lst, will be assessed only for the time be- tween the expiration of their present license, and the first of May, 1864.
 It is made the duty of any person or firm, !ia- ble to pay license duty, to make application to the assistant assessor. And any person pursuing any business, requiring license, who does not make such application, is liable to a fine of three times the amount of each license, and imprisonment. not exceeding two years :; or if liable. to an annual tax, to make returns to the sannsl the first of May. And any person who shall refnse tosmake such return, may be assessed by the assistant assessor, who is re- quired thafeupon to add fifty per cent to the list, so made cut and assessed.
 ABOUT THE INCOME TAX.
 In order to comply with the acquisitions of the Jaw, all persons should make as clear a record as is practicable, of dU their gains prof. it's, or income for the year ending 3lst Dscem. Der. I662sss sssc sss
 The sources from which income is derived, should be specified to enable the assessor to de eide what deductions shall be made thsrefrom.
 man in business should make ap his net profits for the year, and none but business ex- penses can be taken into account. to bring down the amount of fprofts Personal expenses cannot be deducted. A person not in busi- ness must pay duty on the gross amount of his income, with the exemptions provided by law.
 Farmers viii be required to make returns of fife vaIue Of the entire products of their farm for the year 1862. If no account of the amount or value of products has been kept. an estimate must be made according to their best knowl, edge and belief From this amount will be deducted the expenses ofhired labor. including board of laborer, tools purchased, and nsces- sary repairs but no deduction for the labor of himself or family. All the. produce of the farm, which may have been consumed by the family, mustsbe included in the amount re- turned. M
 Persons receiving rents may deduct there from the eamount paid for necessary repairs. in- surance, and interest on incumberances upon such property. The Cost of Improvements or new structures, cannot be deducted from the income.
 All dividends made prior to September, 1862, gre liable to the income tax.
 Interestrsceiyed or due, prior to September lst, 1862, from trust companies, saving institu- tions. insurance, bridge, express, steamboat, ferryboat and railroad companies, must also be taxed.
 Interest on incumberances upon the dwelling house or estate, in which the assessed person resides. may be deducted from income to be taxed, also necessary repairs.
 Gains or profits of manufacturing, or gas stock, which is carried to profits and loss, or surplus account, which might have been divi ded to the stockholders, is also subject to the tax, and must be returned to the assessors.