Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1863-05-04

" lected tax Of enc per centum on the gro
g, amount Of such salary, when not exceeding
T. teen hundred dollars, aud two per centum upc
IS an excess over that amount to be levied 81
9, collected at the end of each year, in the mann
L prescribed for other taxes enumerated in th
u act Provided, that no taxes shall be impose
Q by virtue of +his act the salary of any perse
d receiving a salary not exceeding one th0usan
!, dollars PER annum, or at a like rate for snothC
y period of time, longer or shorter
q Sec 3. That the Secretary Of the Trearur
e shall cause to be assessed and ascertained, 0
d the FIRST Of January next, or as soon thsresflt
. as practicable. the income and profits derived b
: each person, joint stock company and corpora
+ ton, employment OF business, whether register
6 ed or not, in which they may have been en-
B Gagged, and from every investment of labor
J., skill property or money, and the income su,
r profits derived from any source whatever, exceu
salaries, during the calendar year preceding tn
said first day of January next, aud The esid Ia
come and profits shall be ascertained, sssesse,
Z and taxed in the manner hereinafter prescribed
( l. If the income be derived from the rents o
houses, lands, tenements, manufacturing o.
mining establishments, fixtures and machinery
mills, springs of salt or oil, veins of coal, iror
or other minerals, there shall be deducted from
the gross amount of the annual rent a sum suf
hcient for the necessary annual repairs, not ex
eesding ten per centum on said rent, except tha
the rent derived from houses shall be subject
to deduction not exceeding five per een.ul,
for annual repairs
IL II the income be derived from any manu-
featuring or mining business, there shall be de-
Quoted from the gross value Of the products Of
the year; first, The rent of the establishment
and fixtures, if actually rented and not owned
by the person prosecuting the business second
the cost Of labor actually hired and paid for
third, the actual cost Of tho raw material pur-
| chased and manufactured.
III. If the income be derived from navigating
enterprises, there shall be deducted from the
gross earnings, including the value of freigbt5
On goods shipped by the person running the
vessel, the hire of the boat or vessel, if not
owned By the person running the same or If
owned by him reasonable allowance for the
wear and tear of the same, not exceeding ten
! per cent. per annum, and also the cost Of run.
| ming the boat or vessel.
". If the income be derived by the tax pay
er from boat or ship building, there shall be de-
| Quoted from the gross receipts Of his occupation,
including the value of the ship when finished, /,
if built for himself the cost of the labor actual
/ ly hired and paid by himself, aud the prime cost
/ OF the materials, if purchased by him
V. II the income be derived By the tax payer
/ from the sale of merchandise or any other prop
! erty, real or personal, there shall be deducted
/ from the gross amount Of sales the prime cost
OF the property sold, including the cost of trans
/ portation, salaries f clerks actually paid, and
the rent of buil9 gs emplo, in the business
if hired and NJ Jwned by hh, 7lf
VI If ina laeome be derived the tax payer
from any other occupation, proA on, employ
mant or business, there shsll be ddueted from
the gross amount Of fees, compensation, profits,
earnings, or commissions. the salaries Of clerks
actually paid, and the rent of the office or other
building used in the business If hired and not
owaed by himself, the cost of labor actually paid
aud not owned by himself, and the cost Of ma-
terial other than machinery purchased for the
use Of bis business, or to be converted into some
other form in the course of his business; and in
case Of mutual Insurance companies, the amount
of losses paid by them daring ahe year The
income derived from all other sources shall be
subject to no deduction whstevor. Nor shal
foreigners be subject to q tax from other income
than that derived from property ownad, or Occu-
psti0ns or empl0yments pursued by them
within the Confederate States, aud in
estimating income there shall bo in
cuding the value Of the estimated sunusl
rental of all dwellings, houses, buildings, or
building lots in cities, towns or villages, Occu-
pied by the overs. or owned aud not occupied
or hired, and the value of the estimated annual
hire of all slaves not engaged OF plantations or
farms, and not employed IN some business or
OCCUPATIONS the profits Of which are taxed as
income under this act When the in come shall
be thus sscertsined, al of those which do not
exceed FIVE bundred dollars per annum shall bo
exempt from taxation On al incomes received
during the year over five hundred dollars and
not exceeding fifteen hundred dollars, tax of
five per cent. shall be paid; on al incomes over
fifteen hundred dollars, and less than three thou
sand dollars, a tax of ten per cent. shall be
paid; on all incomes of five thousand dollars or
over, five per cent. shall be pail on the titst
fifteen hundred dollars, and ten per cent. on
the excess; on all incomes Of or over three
thousand dollars, and less than five thousand
dollars, and lesss than ten thousand dollars, Q
tax of twelve and half per cent shall be paid :
aud small incomes Of or over ten thousand dol /
lsrs, q tax of fifteen per cent. shall be paid. All
Joint stock companies and corporations shall re- [
serve one-enth Of the annual earnings, sat spsrt
for dividend and reserved fund, to be paid to the
collector Of tbe Confederate tax, and the divi- |
dend then paid TO tRe Stockholders shall not be !
estimated As a part of his income for the pur-
poses of this act. All persons shall give in an |
estimate of their income and profits derived |
from sny other source whatever. and in doing 50
shall firststas the gross amount OF their receipts
is individuals or taonabars Of firm or part |
nership, and also, state particularly each /
item for which a deduction is to be made and
tbs amount to be deducted for it, provided, that
the income and profit on which the above tax is i
to be imposed shall not be deemed to include the
products of land which are taxed in kind, as
hereinafter described Provided, further that in I
case the annual earnings Of said joint stock
companies and corporations act spart as sfore- |
said shall give profit Of more than ten and less
than twenty per cent. upon their capital stock |
paid IN, oneeighth Of said sum so sci apart shall
be paid as 8 tax to the collector aforesaid gnd in
case said sum SO set apart shall give profit OF
moro than twenty per cent. on their capital
stock paid in, one-sixth thereof shall be reserved
and paid as aforesaid. TIE tax levied in this
section shah be collected on the first day of
Jaunsrv ensuing.
Sec That if the-assossor shall be dissstis-
fed with the statement or eStinsts Of income
aud profits derived from any source whatever,
other than products in kind, which the tax
payer is required to render, or with any dedUc- /
ton claimed by said taxpayers, he shall select
one disintsrested citizen Of tha vicinsge, as 3
reference, aud the taxpayer shall select another,
and the two thus selected shall csli IN a third, /
who shall investigate and deterciins the facts in
reference TO ssid estimate and deductions, and
tx the amount of income and profits on which |
the taxpayer shall be assessed, and certificate
signed By a majority Of the referees shall be
conclusive As 30 the amount of iaeoms aad
profits on which the taxpayer shall be assessed: !
Provided, that if any person shall fail or refuse
to render Ethe statement or estimate Aforesaid,
or shall fail OF refuse 70 select a referee as
aforesaid, the assessor shall then select three
referees, who shall fix the amount Of in
come and pTofi.s on which the taxpayer
shall be assessed from the best evidence
they can obtain, and a certificate signed
by q majority Of said referees shall be con
elusive on the tax payer. And provided, fur
ther, That in any case submitted to referees, ii
they or q rnsioritv of them shall fad and car
tif7 that the statement or estimate Of income
and profits rendered by the tax payer does not
contain more than four-ffths Of the true and
real amount Of his taxable income and profits,
then the taxpayer, in addition to the income tax
on the true amount of his income and profits