The Portland daily press., 1863-06-05
Friday Morning, June 5, 1868.


Friday Morning, June 5, 1868.
Internal Revenue.
DECISION RELATIVE TO THE ASSESSMENT OF
THE INCOME TAX.
Treasury DEPARTMENT,
OFFICE OF INTERNAL REVENUE MAJ, ,63.
The income tax must be assessed and paid
In the district in which the assessed person
resides. The place where person votes, or
Is entitled to vote, is deemed his residence
When not voter, the place where tax on
personal property is paid is held to be the
place of residence.
In cases of limited partnerships, formed with
the condition that no dividend or division of
profits shall be made until the expiration of
the partnership, each member of such firm
will be required TO return his share of profits
arising from such business for the year 1862,
as, had they SO desired a division of the profits,
could have been made
Gains or profits realized from the sale of
property during the year 1862, which property
was purchased before the Excise Law went
into effect, should be returned as income for
the year 1862.
The executors or administrators of the es-
tates of persons who died in the year 1862,
should make return of the income thereof for
the year 1862.
A merchants return of income should cover
tne business OIL Ihe year lSoz, excluding pre-
vlous years. ohconected accounts must be
Physicians and lawyers should include ac-
tual receipts for services rendered in 1862,
together with an estimate of unrealized or
contingent income due to that year.
Dividends and interest payable in 1862
should be returned as income for that year, no
matter when declared. 3ta'9
Oiviuehas derived from gas STOCK are taxa
oiI - nicoinc.
..usas sos .,.s ueliseu non coai mines must De
ic..i ncu aiLiougu LAX mas Deeh previously
Paia oa Iie coal plouuceu. no deducton can
oe liaoe because Oh tue diminished value, ac-
suai oI supposeu, u sno c1ai VEN OF Dea, py
tuc prcccss VI mining. hent ueriVed from
cve4 lnlles 40 incoms. 49,.
ffemiums ailoweo ior hie insurance shall
no. pe aaioweu as oeuuclioh IN statement OF
income.
renslohs received from the united states
goseru'lons must DC Iesurneu Win other In
come sun9ect 70 taxation.
oi9 ueots iorneriy considered hopelessiy
lost, put paio witnin tne ume covered by the
ietufu VI incohe, snouiu pe ihciuoed III this
s'a,ement.
geols considerea @ nopeiessiy iost on the 5lst
1890 Dcc1iaoea' ss1' ioo@, anu uue 70 .he business OF
Va sss yesr 100, may oe oeoncted from the prohts
nusliess, subsequently paid, they must
Ds e:I eu li 'no fe'uin ior Inc year III which
pau.
~. ~ s'se .uli ehece 70 u,e proViso 70
.ae 1is. soe.ion NJ VI .ne az. VI ouiy ISL, iooz,
respecting lhe TAX on tnat portion OF income
oeriseu rom ohileo states securities, 1t Is dl-
su suao "lie a, seo'ne y ueriveu parity rom
.nS1e .,. anu paluy lloi oeier sources, tne SooV
anu o.leI aiio"ahces ihaae py the law snail De
-. ~. io, o.iier Sources, anu SUD
~ ~ ~ aad..a.!pp IN. r., .' son, =. 'sln. az,
,a ;.. ~ San &c aaloweo r rom tne TAXA
Ia ~. ~, - ' ss"ue iol compensation
P"i1 sar,na -. Sly -. ses a,, ~ 'nlnol sou;
- ..,:.. naAs ie,uIn oI lhe sota
80 dedne, - ,ta.f.,,. snal oe allowed
,,,iss osar, a,d a.,,a s osis'enoe "a horses,
,ha os,,r,,;,,,, ~ sa;d ueeu YAc.usNey IN
nrodnca', - cn,s,rad .a ;.,.,S y, 'uiii halni
pouuoc oon'., ucu @ W ihciuue All prouuc-
Tho accn,,,, ~ s,anr Ia ~, nu sovsea. 49,
Dsca,,.,sr aIs, eeo shS,,,d "a, ;'',n siies
.ooe' s,sa'N os', .oV-, snouiu ~. pe inciuuea
;nod thpros s uus .ne pront rear
wears return Wbera he has ;nn,,,daa - nI :; ~
nr.d,,o ra;.d nI na' lnoeuaeu is ~ ms
~ .ss,,ss.', 'se1 ~ .i an. ,1u ~ "hoie
=, Paas " e.cA euosequentit sou, ne must
sIsN,s;. ~ sro sain IsaHeu y py .le ieeuihg
;an,,,Sad X, sdlu s'ocA. "nere ne mas not
'ue e.uea '.s Piuwuee P,, 81 'eu, NC must return,
p'on.,, .ic ulue, ,ence pe1"een the value OF
ss' on .me ois. VI Decelnoer 1901, ana
I EA..,,.lls "yas .oa'iAcu 'iscs ioi lieni.
re,oiHers purchaseu oy farmers, 10 MAIN
All, ai -. aJ =, esen. proauSuve condtion,
. WIN po oolsiueieu as repairs In estimating
'"Iu I.,.a.s. .,,,,
l., - ;S .,o oc oonsluoi1u as income on
- ,.;, mmen pad' unless !. conectaple ana re-
.ha .as unpaiu W llie CONSENT OF agreement oil
tnG creditor.
Losses Incurred IN tne prosecution OF busi-
ness aie la'r onset 10 gains derived from
BUSINESS, out not from those portions OF in
come derived from nxed Investments, such as
ponos, mortgages, rents, and the Ike.
Properly USED In business, and furnishing