Weekly national intelligencer. [volume] (Washington [D.C.]) 1841-1869, 1863-06-11

former will do than hundred arrests and suppress
sons to senceh latter render their sedon harmless
TIE INCOME TAX
Commiss, LEWIS of the Internal Revenue Depart.
ment Las settled number Of important points with re-
ference to the and collection of the income tax
which of general interest They embraced in the
following paragraphs:
in which the assessed person resides The place where
person votes is entitled to vote, deemed his resi-
dence When not voter, the place where tax on per-
sona property pad 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 had they go desir.
ed division Of the profits could have been made Gains
profits realized from the sale of property during the
year 1862 which property purchased before the
ce law went nto effect should be returned income for
the year 1862
The executors administrators Of the estates of per-
who ed the year 1862 should make return of the
thereof the year 1862 return of
income should the business of the year 1862 excud
ing previous ears Uncoected must be esti-
mated Physicians AMI lawyers should include actual re-
cepts for services rendered 1862 together with an esti
mate OF unreazed or contingent income due to that year.
Dividends aud interests payable 1862 should be- returned
as income for that year, no matter when declared.
Dividends rived from gas stock taxable as income
returned. al
though tax has been previously paid the coal pro-
duced. No deduction can be made because of the dmi-
nshed value actual supposed of the coal ven or bed
by the process of mining Rent derived from coal mines
is income Premium paid for life insurance shall not be
allowed deduction ia statement of income Pensions
received from the United States Government must be re-
turned with other income subject to taxation Old debts
formerly considered hopelessy lost but paid within the
time covered by the Of the income should be in
cuded in this statement Debts considered hopeessIy
lost December a. 1861 and due to the business OF the
War ms ha ctadf Gfa Of
II subsequently paid they must be included in the return
for the year in which paid
In order to give full effect to the proviso the ninety
first section of the act Of July st. 1862 respecting the
tax that portion of income derived from United States
securities it is directed that, when income is derived
partly from these and partly from other sources the $780,
and other allowances made BY law shall be deducted
far possible from that portion of income derived from
other sources, and subject to three per cent tax
No deduction can be allowed from the taxable income
of merchant for compensation paid for the services Of
minor son.
ia mer when making return of the total amount of
his farm produce, shall be allowed to deduct therefrom
the subsistence OF horses mules and cattle ex
cusivey in the carrying of said farm The farm
produce is construed to include all productions of farm
Of what nature and kind soever. -
The account of stock sold by farmer since December
81 1862 should not be included in the present
but the prtt realized thereby must be accounted for in
his next years return Where he has included bis re-
turn produce raised by him and fed in whole in part to
stock subsequently sold he for the gain real
lied by the feeding and selling of said stock Where he
has not included the produce fed he must
profits the difference between the value of said stock on
The 3is of December 1861 and the realized for
item Fertilizers furnished by farmers to maintain their
land 10 present productive condition will be considered
REPAIRS in estimating income.
II planter returns all bis farm products he will be
allowed to deduct the actual expense of subssting and
clothing his slaves.
Interest should be considered income only when paid
unless it is coecabe and remains unpaid by the consent
agreement Of a 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 Investments such
as bonds, mortgages, rents, and the like.
Property used 10 business and furnishing profits when
destroyed by fire. msy be restored at the of those
profits to the condition when destroyed IL Insured the
difference between insurance received and amount expend
cd 10 restoration will be allowed
The increased value given building by permanent
improvements will be charged to capital not income.
The contingent fund OF manufacturing corporations made
up during the year 1862 and not distributed should not
be returned part Of the income of the stockholders
The undsributed earnings of corporation made pre-
vious September 1862 whether the corporation re-
qured 10 pay dividends or not should not be considered
as the Of the stockholders should the corpora
ton be required to make return of said earnings
ne trustees, under section 80 Of the excise law.
The income Of literary scientific, other charitable in
stutons 10 the hands OF trustees Others s subject
to income tax.
When person boards and rents a room or rooms the
rent thereof in lieu Of house, should be deducted from the
amount OF income subject to taxation.
Losses sustained ia business since December 81 1862
will not enter into the income assessment for 1862
Interest borrowed capital used in business may be-
deducted from income
Legaees not required to return their egaces as in
come There special tax egacies Of personal pro-
perty in section III
The income tax is assessed upon the actual income Of
individuals. Firms, as such will not make returns.
The profits OF manufacturer from his business not
exempt from income tax in consequences Of his having paid
the excise tax imposed BY law upon articles manufactured
by him.
Az bridge, express, telegram, steam and ferry boat
companies Of corporations are not authorized by law TO
withhold and pay to Government any tax upon interest
paid dividend declared by them all income OF individuals
derived from these sources 10 liable to income tax
All persons Degecng refusing to make return of in
come excepting in Of sickness brought within
the penalties prescribed by th section Of the act OF July
1862, viz: An addition Of fifty per cent to the amount
ascertsned by the Assistant Assessor upon such nforma-
ton he could obtoin, and penalty Of 800 10 be
recovered for the United States, with costs of suit
Within a few months past two thousand two hundred
and twenty-five acknowledged enemies OF the Government,
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