The Cecil Whig. [volume] (Elkton, Md.) 1841-current, 1863-06-06
Assessment of the Income Tax,

The following important explanatory circular
upon the subject of the form of the returns of
the Income Tax has been furnished the Asses
sors:
Assessors and Assistant Assessors will take
notice, that the specific statement of the several
subjects of tax, on the second and third pages
of Form No. "a, are intended merely for the
convenience OF the taxpayer, with II view to
facilitate the aScertainmcnt by him of the tax
which lie is liable to pay. 1t is not to be re-
garded as part of the return to be made by
him, nor must it he exhibited to the inspection
OF any one. The income and rate of tax being
asccrtained by the taxpayer, in the mode indi-
Gated, or any other proposed by him, and equally
likely to result in true statement of income
liable to tax, the return may be made in gross,
as indicated on page a.
This office does not propose to inquire into
the kind or number of any mans investments
In distributing Form No. "a, for use, this
explanation should accompany the distribution.
From this it will be seen that the citizen
ascertains, from the specifications in the blank
form, what items of income are taxable and
what allowances are to be made. He makes
the calculation himself, and returns and swears
to the gross amount liable to taxation. He need
not specify how he makes the profits and income
upon which he is liable to pay tax.
The following additional decision, which has
!
tant. 1t is believed to cover all points aud
questions which can arise under the law:
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 a
voter, the place where tax on personal property
is paid is held to be the place of residence
In cases of limiled 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 pro-
perty 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 estates
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
the business of the year 1862, excluding pre-
vous years. Uncollected accounts must be
estimated
Physicians and lawyers should include actual
receipts for services rendered in 1862, together
with an estimate of unrealized or contingent
income due to that year.
DIVIDENDS anu interest," payable III loo@ should
"nen oec'aeu.
D'iochds ueil'ed from gas STOCK are taxable
as Income
income derived from coal mines must be
returned, ai'hough u TAX mas peen previously
Pa'u on the eoal produced. no aeducton can
De made because OF the diminished value, actual
or supposed OF the coal VEN or bed by the pro-
cess OF mining. hent derived from coal mines
IS income -
fremi'lms PAID Tor HE insurance shall not be
allowed as deduction III statement OF income.
PENSIONS received nom the United States Gov