Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1863-07-27
Assessor's Notice.

VNHE ASSESSOR Of the First Collection District
Virginia, WOuld give rO.ies that the Assistau
assess the Income Tax for the year 1865, the sal
tax to be based on th4 income Of 1861 The hllOW
come Tax have been Issued blythe COMMISSIONS Q
; Internal Revenue:
Zach person viii Re required to return his tOta
income, far ing the sources from which
is derived, To enable the Assistant Assessor Il
decide what deductions shall be made thertfFon.
The income tax must be assessed and paid In th'
district in which the assessed person resides. The
place where person votes or u entitled 70 vote
deemed his residence When not u voter, the place
where tax personal property il paid Il held 70 be
In caTeS OF limited partnershIps formed with the
condition that dividend division Of profits shall
be made until the expiration Of the partneEship, eae
ember Of such firm will be required 70 retura his
year 1863 as had they desired, division Of the
profits could have been made -. ,.,.,.. =,
dIfihE i6s ear 1892 Witch property vas parehASed
before the Excise Law went tntO0ect, should be re-
turned ~ income for the year 1864
The executors or Administrators OF the estates Of
persons, who died in the year 1852 should make re-
merchants return Of income should cover the
business of the year 1869, eHeludng previous years
| Physicians and lawyers should include actual
ceipts for services rendered 1862 together with
Estimate OF unrealzed or eontingenE income due TO
Disrdsnds and interest payable In 1852 should be
returned as income for that YeaT, no matter when
Dividsnds derived from gas stock taxable aS in
| come. $500
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
diminshed value, actual supposed Ofthe coal vein
or bed BY the process Of mining Rent derived from
/ coal mines is income .- o.. I
5Premiums paid for life insurance shall not be al
wed 8 n deduction in statement Of income.
Pensions received from the United States Govern
ment be returned with other income subject 70
taxation.
Id usots formerly considered hopelsssIy lost, but
paid within the me covered by the return Of In
come, should be includued in this statement.
Debts considered hOPelessy lost ON the 3lst Of De-
cember, 1862, aud due to the business OF tue 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.
In order give full effect the proVisO to the 9lst
section Of the act Of July lst 1864, respecting the
tax ON that portion Of income derived from United
States securities IL Is directed that when inSOms n
derived partly from these and partly from other
sources, the 5000 and other allowances made by law
shall be deducted, tar possible from that p0r
ton Of income derived from other Sources and sub
No deduction can be allowed from the taxable In
come Of merchant for compensation paid for the 1
services Of q miHor son.
farmer, when making return cfthe total amount
Of his farm produce" shall be AllOa ed 70 deduct
thererOm the Subsistence Of horses mules oxen, aud
cattle used exclusively IN the carrying on o. sald
farm. The term farm produce Il construed to In
euds all productions Of . farm, Of what nature or
kind sOeVer.
The account Of stock sold by . farmer since De-
cember 3Ist 1862 should not be included In the pre-
sent assessment but the profit realize thereby
be account for in his next years return. Where |
he has inc uded in his return produce raised BY him.
and fed in whole part to stock subsequently sOId
he must account for the gain realized by the feeding
and selling Of said stock Where he has not iheIuj
ed the produce fed, he must return, profits the
difference between the value Of sid stock the 3lst
Of December, 1861, and the amount realized Tor
them
Fertilizers purchased by farmers to maintain their
land in present productive condition, will be eonSid
cred as '-TepSiTs' in estimating income.
Interest should be considered as income only when
paid, unless It is collectnbio and remains unpaid By
the consent or agreement Of the creditor.
Los-es incurred in the prosecution Of business are
Fir Offset to gains derived from business, but not
yestnents such as bOnda mortgages, rents, and the
like. %
Property used in business and furuishing profits,
when destroyed by ere, may be restored, ~ the ex
pense OF those profits to the condition when destroy
cd; if inbured the difference between insurance re-
ceived and amount expended in restoration will be
allowed.
manent improvements will be charged to capital
not incOme.
The contingent fund OF manufacturing corpora /
tions made up during the year 1864 and not dstrib
uted should not be returned as part Of income
the stockholders.
The undistributed earnings Of corporation, made
previous to September 1st 1862, whether the coTpo-
ration Is required 70 pay tax on dividends or not
should not DO considered as the income Of the stock
holders nor should the corporation be required TO
make return Of ERid reserved earnings Iruatses
under section % OF the Excise Law.
The income literary, scientific, other ehaFita
BILE Institutions in the hands Of trustees 0r Others y
not subject to income tax.
the thereof lieu Of rent Of house, should be
deducted from the amount Of income subject 70 tax
alton.
Losses sustained in business since December s1st
1862 will not enter into the income assessment for
1862.
Interest on borrowed capital used In business may
be deducted from income.
II planter returns AL his farm products, he will
be allowed to decuct the actual expense Of Subsst-
ing and clothing his slaves.
Iegatees are not required to return their lsgAeies
ineOmO. There is special tax on legasieS Of per-
sonal property In section Ill.
The income tax is assessed upon the actual income
Of iRdfUfdHatS. Rirmss a. sueh' viii not make re-
turns. --f
he profits Ofa manufacturer from his buainess are
mot exempt from income tax, In consequence OF his
having paid the excise tax Imposed BY Law upon ar
AZ bridge express, telegraph steam and feFryboAt
eouipauies corporations not authorized By law
tsrest Daid or dividend declared By them, ali Income
Of individuals derived frOm these sources tS liable 70
income tag. .sta
The tax must be levied on all dividends doelarsd
prior September 1st 1862 aud upon ali SalAdes Of
omcers payments TO persons in the civil, military
naval or oIhrr service Of the United states ET
vices rendered prior to said date such divideuds
aud proportion Of salarits snbJOct to dsdue
An persons negIeeting or refusing to make return
Of fineome except In eass Of sieknoss, are brought
within the penalties prescribed by the 1lth section
Of Of July lst 1s62 viz: Ad itiOn Of so per
cent. the amount asceFtained by the Assistant As
sessOr upon such Internationally can obtain, aud
penalty OF $780, be recovered for the United States
BIanF forms viii be len BY the Assistant Asses
sOrs which to make the returns, the outside Of
which is convenient detailed statement Of sources
Of income, Those returns must be made 70 the As
sstaht Assessors within days from The time they
notified. r JOHN PAhKINs s0N.
ra ra+ Assessor lst Col. DisJ. Va. 7
WEsT VIRGINIA.-At Rules held In the
W Clerks once Of the Circuit Court Of Ohio