Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1863-06-18
Assessor's Nofica

. H.
II VIE ASSESSOR fthe First Collection District o.
/ 4 virginia, would give notice that the Assistant
Of this District will proceed imm edIatey
assess tue income Tax for the year 1868, the said
tax to be based on tn income of 1852 The follow.
ing decisions in relation the assessment of the In
Internal Revenue; y
Each person will te required to return his total
70 lar specifying the sources from which it
10 ueriHedI as to enable the Assistant Assessor to
decide what deductions shall be made therefrom
The income tax must be assessed and paid in the
place where person votes or Is entitled to vote g
deemed his residence. When not a voter the place
IneEe ax on personal property is paid is held to be
In cases OF limited partnerships, formed with the
condition that no dividend division Ofprots shall
be made until Of the partnership each
ember of such firm will be required to return his
share Of profits arising from such business for the
year 1882, as had they Sc desired division of the
profits could have been made: =
Gains or profits realized from the sale of property
during the ear 1852 which property was purchased
before the Excise Law went into effect should be re-
turned as income for the year 1862. =.
The executors or administrators of the estates of
persons who died In the year 1882 should make re-
turn Of the income thereof for the year 1862.
business Of the year 1852 excluding previous years
Oncouected accounts must be estimated.
Physicians and lawyers should include actual re-
ceipts for services rendered In 1862 together with an
estimate OF unrealized or contingent income due to
Dividends and interest payable in 1852 should be
returned as income for that year, no matter when
Dividends derived from gas stock are taxable as in
come.
Income derived from coal mines must be returned,
although tax has been previously paid the coal
produced. No deduction can be made because of the
diminished value actual supposed, ofthe coal vein
or ped oy the process OF mining. Rentderived from
Premiums paid for life insurance shall not be al
lowed as deduction in statement OF income 30
Pensions received from the United States Govern.
taxation. : = =
OId debtq 6,r,norI,, a. "a n,l \ - . -. =.
paid within the time covered by the return Of in
come, lhould be ncIudued In this statement.
Debts considered hopeeBsly lost on the 31st of De-
cember, 1852, and due to the business Of the year
1852 may be deducted from the profits Of business
II subsequently paid they must be included in the
return for the year in which paid. Pr
In order to give full effect to provso to the 9lst
section of the act of July lat 1867 respecting the
tax on that portion of income derived from United
States securities it is directed TINT when Income Is
derived partly from these and partly from other
sources the $500 aud other allowances made by law
snail be deducted as far possible from that por-
tton Of income derived from other Sources and sub.
| iect to three per cent. tax. t1 = a--
No deduction can be allowed from the taxable in
come OF merchant for compensation paid for the
services of a minor son. as5sg aE.
A farmer, when making return of the total amount
OF his "tarm produce,n shall be allow ed to deduct
therefrom the subsistence Of horsts mules oxen and
cattle used exclusively in the carrying on of said
farm. The term farm produce" is construed to in
clude all productions of farm, of what nature or
kind Boever. : "
The account Of stock sold by farmer since De-
cember 31st, 1852 should be included in the pre-
sent assessment but the profit realized thereby must
be accounted for in his next years return. Where
he has included in his return produce raised by him.
and fed in whole or part to stock subsequently sold
he must account for the gain realized by the feeding
and selling Of said stock. Where he has not incud-
ca the produce 80 fed he must return, profits, the
difference between the value said stuck on the 3lst
| them.
Fertilizers purchased by farmers, to maintain their
land IN present productive condition, will be consld-
cred as "repairs' in estimating income.
Haaf
paid unless 1t is collectable and remains unpaid by
the consent or agreement ofthe creditor. =
Losses incurred in the prosecution of business are
Fair offset TO gains derived from business but not
from those portions of income derived from fixed in
vestnents such as bonds mortgages, rents, and the
Property used In business, aud furnishing profits
when destroyed by IRE, may be restored, the ex.
pense OF those profits to the condition when destroy.
ed; ifinsured, the difference between insurance re-
csiyed and amount expended in restoration will be
/ allowed. "a gf HFs- aitt z FEa Z / -
The increased value given new building by per-
manent improvements will be charged to capital.
tlons made up during the year 1862 and distrb-
nted should not be returned part of theincome Of
the stockholders.
The undistributed earnings of corporation made
previous to September 1st, 1862 whether the corpo
ration Is required to pay tax on dividends or not,
should not be considered the income OF the stock
holders, nor should the corporation be required to
make return Of Faid reserved earnings as trustees
| under section 93 oi the Excise Law.
The income ofterary, SCIENTIFIC other charita-
BILE Institutions in the hauds Of trustees Or others ia
not jeet to income tax.
When person boards, and rents room or rooms
the rent thereof in lieu Of rent OF house should be
deducted from the amount Of income subject to tax
| alton. a 80
Losses sustained in business since December s1st
1852 y
Interest on borrowed capital used in business may
be deducted from income, N-t
Ifa planter returns ali his farm products, he will
be allowed to deduct the actual expense of subsist-
slaves. -r
Legatees are not required to return their lsgaces
as income There is special tax on legacies of per-
\ sOnal property in section111. sa
The income tax fS assessed upon the actual income
turns. isB EIH
he profits ofamanufacturer from his business are
not exempt from income TAX, In consequences Of his
having paid the excise tax imposed by law upon ar.
| tieles manufactured by hiR. s2tlJ1t
As bridge express telegraph, steam and ferryboat
companies corporations are not authorized by law
to withhold and pay to Government any tax upon In
terest paid, or dividend declared by them, all income
ofindiyiduals derived from these sources is liable
| income tax. Hasr 81 I..--L asgal VI
Thetax mnst be levied on all dividends declared
prior to September 1s 1862 and np0n all salaries
officers or payments to persons In the civil military
naval other service of the United States for ser
vices rendered prior to said date, such dividends
and proportion Of salaries not subject deduc.
1 ton assessment.
i Allpersons neglecting or refusing to make return
ofincOme, except in case of sickness, are brought
within the penalties prescribed by the 1lth section
Of the act of July 1st 1862 addition of so per
eent to the amount aSCerainsd by the Assistant AS
SessoT upon such obtain and a
penalty Of $780, to be recovered for the United
BIank forms will BE left by the Assistant "a So.
sors on which to make the returns on the outside ri
(which Il convenient detailed Abatement Of sourees
lofinsome. Those returns must be made to the As.
sistant Assessors within ten days from Ihstimsthey
Assessor LIST Col. Dist Of Va
i Cameron, june 1Nth, 1853. jun12 iSdkltG;
4, IWellShurg Herald Parm0nt Rational and Middle
.