The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1863-04-27
Regulations for the Assessment of the In
come Tax.


Regulations for the Assessment of the In
come Tax.
The assessors and assistant assessors of each
collection district will assess the income tax,
as on the first day of May next, upon every
person residing within the district liable there
to.
Each person will be required to return his
total income, SO far specifying the sources
from which il is derived rs to enable the as
sistant assessor to decide what deductions
shall be made therefrom.
Persons whose income does not exceed the
sum of ten thousand dollars, and who reside
in the United States, will be subject to duty
of three per cent, on such portion thereof as
is liable to taxation: Provided, hOwerer,
That upon income derived from interest on
notes, bonds, or other securities OF the Uni
ted States, duty of one and half per cent.
will be levied
Persons whose income exceeds ten thousand
dollars will be subject TO a duty OF five per
cent on the portion thereof subject to taxa
ton: Prorided, hOUerer, That upon income
derived from interest upon notes, bonds or
other securities of the United States, a duty
of one and a half per cent. will be levied.
Citizens OF the United States residing a.
broad, and not in the employment of the gov
eminent of the United States, will be subject
to duty OF five per cent on the income of
any property, securities, or stocks owned in
the United States, and not exempted from
the income tax: Prorided, ho,cerer, That
upon income derived from interest upon notes,
bonds, or other securities OF the United States,
a duty of one and half per cent. will be lev
led
Every farmer or planter will be required to
make a return q the value of the produce of
his farm or plantation, without deduction for
the labor or services of himself and family, or
for any portion of such produce consumed by
himself and family.
The following deductions will be made from
the aggregate income OF each person, and the
tax assessed upon the remainder, viz:
State and local taxes assessed in the calen-
dar year preceding this assessment to wit,
from January l, 1852, to December 81, 1861,
inclusive.
Salaries of officers, or payments to persons
in the service or employment of the United
States, from which deduction of three per
cent. has been made by the disbursing officers
of the government
Interest or dividends on stock, capital, or
deposits in any bank, trust company, or sa-
wings institution, insurance, railroad company
or corporation, from which interest or divi-
dends duty of three per cent. shall have been
deducted by the officers of such companies,
corporations, or associations; interest from
any bonds, or other evidence Of Indebtedness,
OF any railroad company, or other corporation,
from which duty OF three per centum shall
have been deducted by the officers Of such
company or corporation; and receipts derived
from advertisements on which duty shall
have been assessed and paid.
Also, the sum of six hundred dollars, except
in those cases where the whole or any part of
said six hundred dollars shall have been de-
Quoted from the salaries OF officers or persons
In the service or employment of the United
States.
The amount actually paid for rent Of any
dwelling-house or estate which Is the resi-
dence of the person assessed; and
Inc amount pald py any farmer or planter
ior hired LABOR ana necessary repairs upon his
farm or plantation, including the subsistence
OF lne iaoorers.
whenever the Total income oil any person ex-
ceeds ten thousand dollars, and deduction are
made thereirom, upon the ground that por-
ton OF such income has been subject to three
per cent. duty upon DIVIDENDS or interest paid
oy companies, corporations, OF associations, as
enumerated, such person VIII DC SUBJECT to a
tax OF Two per cent. aaditiohai upon SO nucn
OF MS income as may nave been previously sub
Jected 70 duty OF three per cent by the OIL
GERS OF tne companies corporations, or associa-
tiohs peiofe nauneu'
Guardians and trustees, whether such trus-
tees are so by virtue OF their office, IS execu-
tors, administrators, or otfey9 duciary capacity,
are required to make rerurp OF the income be-
longing TO minors or other persons which may
be held in trust, as aforesaid; and the Income
tax viii be assessed upon the amount returned,
AFTER deducting such suinsils are exempted from
the income tax, as aforesaidE Prorided, That
the exemption OF six hundred dollars, under
section 90, OF the excise law, shall not be allow
ed on account OF any minor0r other beneficiary
OF trust, except upon the statement OF the
guardian or trustee, made under oath, that the
minor or beneficiary has no other income from
which the said amount OF six hundred dollars
may be exempted and deducted.
Whenever persons liable TO assessment of in
come tax shall neglect or refuse TO make the
lists required by law, or wien the lists made
and rendered by such persons shall not be ac-
cepted by the assessor or assistant assessor as
just and proper, 1t shall be the duty of such as
SCISSOR or assistant assessor to make lists for such
persons according TO the best information he
can obtain. Persons so assessed may make oath
or affirmation as to the amount of income and
deductions thereirom agreeably TO section f3.
Persons receiving rent may deduct. there
from the amount paid for necessary repairs,
such rehteu property. Inc cost oi ne" struc.
M, hs deanc,ed from Income '""''