Fremont journal. [volume] (Fremont, Sandusky County [Ohio]) 1853-1866, 1863-05-15
1roOmR TArrs.

d'o ~ hbondA wv Jaw lof tno assessment nI NNn
tax on incomes, tho present assessment heinR
for the year ending December Sist 1862. Every
person, whether in business or not, including
those acting ina jduciary character - guard
ians trustees aud administrators must return 70
the assistant assessors statement Of their busi.
mess or property Of every kind and description
and the assessors win decide what dcdncasions
are TO be made. This tax is annual, and the a.
sessments will be submitted 10 examination and
appeals may be takon II persons refuse 70
make q statement Of their income, or the state
nent is not deemed to be true. list win be
made on the best information the assessors can
obtain, subject to the oath or affirmation Of the
person assessed, as prescribed by the law. In
taxing trust funds the exemption Of 5000 win
not be made, unless oath is made that the minor
or beneficiary has no other income from which
the $500 exemption can be made The follow
ing succinct abstract Of the law relating to this
annual tax will be found useful in guiding per-
sons in making out a statement Of their incomes,
and also gives the deductions to be made by the
assessors:
Mechanics merchants and manufacturers will
return the whole amount Of the avails or revenue
OF their business, and statement Of the expense
| Of the same, for labor, material, &C. Co-parf-
ners will return their share or interest ia the co.
partnership income. Corporators the amount Of
profits, whether in the form OF dividends or 9TH
erwise, Evidences Of debt, for adjusted accounts
will be valued as If the person was making an
inventory ofthe same on settlement Of an estate
Farmers will return the value of the produce
Of the farm. II IA portion of the same has been
'fed out" to stock for sale the value of the stock
| fattenod, &C. will be returned; also all sales Of
| wi fka cf
double tax, viz: both for the product Of the farm
grain, hay, DC, and the income from the stock
fattened from the same.) No deduction will be
made Tor the labor or services of himself or fam
lily. Expenses of hired help viii be deducted:
also, all payment for rent Insurance, ordinary
repairs interest Of mortgages, DC. Nodeductior
| will be made for any portion Of the products Of
the farm consumed in the family. Produce on
hand December 81, 1862, must be valued at the
then market price.
Salaried men will return the full amount of
the salaries they receive, whether fixed by stat
utes or agreement, or derived from fees, &c.-
Previous to September l. 1862, no deduction of
per cent. was made from salaries of persona in
the employment ofthe U. S. 1t follows that the
gross amount received between January i. 1862
and August 3lst 1862, inclusive, must be re-
turned.
III A return must be made Of the income or diyi-
dends derived from stock in any bank insurance
company, savings institution, trust company
railroad, railroad bonds, steamboat ferryboaf, or
bridge, between January g 1862, and August 81,
r 1862 inclusive.
/, The net gains or profits of manufacturers are
to be taxed under section 80 of the law, without
regard to the fact that they have already paid a
tax. The exemption contained in the original
Statue was removed blythe amendment of "March
Sd, 1863"
All income received from bonds, morteapes
notes, stock in gas companies, or manufacturing
companies, during the whole of the year 1862 e
to be returned and taxed.
All income received from telegraph or express
companies, or profits made by expressmcn, are
to be taxed, ifreceved between the first of Janu-
ary, 1862, and September 80, 1862, inclusive
Persons whose income does not exceed AIO-
600 and who reside in the United States are La
BILE to tax OF per cent. upon all such part
| thereof as is non exempt. Exceeding 10000, 5
per cent. Provided, however, that income de.
rived from United States securities shall be sub.
ject to duty of u per cent only. Citizens Of
the United States residing abroad, and not in
the employment of the U. 8 are subject to du-
ty of per cent. upon their property, stock, or
securities owned in the United States, except
Government securities aud upon those Is per
cent.
The following deductions win also be made
from the aggregate income of any person, and
the tax levied upon the remainder, viz.
State and local taxes Of the calendaryear, jan
uary !, 1862, to December 81.
Salaries OF " states offclals, rom which has
been already deducated, by disbursing officers,
the 3per cent. tax of the statute.
Interest dividends, &C., of stock in banks and
other moneyed corporations from which the
statute tax Of per cent has already been de-
Quoted or retained-that is, since August 81,
1862 -.
Receipts derived from "advertisements' on
which duty shall already have been paid.
| The sum OF $500, except in those cases in
which the $500 has already been deducted from
salaries or pay Of Government officers as afore-
said.
The rent actually paid for rent of dwelling
house or estate, the residence of person assessed.
! The value of rent of house, occupied by owner,
is not deducted.
The amount Of hired labor and value OF tiA
board of such labor
Persons receiving rent are entitled to dedwE
the cost ofrepairs, insurance and interest on in
cumbrance upon rented property. The cost Of
extraordinary repairs, new structures, g., win,
in no case, be deducted.