Abbeville press. [volume] (Abbeville, S.C.) 1860-1869, 1863-05-29
THE TAX BILL.
CONCLUDED.

| shall be deducted from the gross value Of
the products of the year: first, the rent of
the establishment and fixtures, if actually
rented, and not owned by the person pros
ecuting the business; second the cost of
the labor actually hired and paid for, third,
the actual cost of the raw material pur-
chased and manufactured.
Ill. Ii the income be derived from nav
igating enterprises there shall be deducted
from the gross earnings, including the val
ue OF freights on goods shipped by the
pers'.n running the vessel, the hire of the
boat or vessel, il MT owned by The person
running the SAM, Or if owned by HIM a
reasonable allowance or the wear and tear
of the same, 1ot exceeding ten Per cent
per auuunn, and also the cost of running
The boat or vessel.
Nv. If the income be derived by the tax
payer from BOAT or ship building, there
slal, he deducted from the gross receipts OF
his occupation, including the value of the
hip when finished, if built for himself, the
cost of the labor actually hired and paid
~ himself, and the prime cost of the ma
teriaIs, if purchased by him.
'. Ii the income be derived by tue tax
paye from the sale Of merchandise or anv
other property, real or personal, there shall
be deducted from the gross amount of
sales. the prime cost of the property sold,
including the cost of transport alton, saIa--
ries of clerks actually paid, and the rent of
buildings employed in the service, if hired
and not owned by himself.
vi. If the income be derived by the tax
payer from any other occupation, profess
sion, employment or business, there shall
be deducted from the gross amount Of fees,
compensation, profits, earnings or commits.
sions, the salaries o clerks actually paid,
and the rent Of the "fIice or building used
in the business, if hired and not owned by
himself, the cost OF labor actually paid and
not owned by bimscif, aud the cost OF
material other than machinery purchased
for the use Of his business, or to be conyer-
ted irto some other lorm in the course Of
bis business, aud in case of mutual insur-
ance companies, the amount uf losses paid
10y them during the year. The income
derived from all other sources shall b..
subject to no deduction whatever. Nor
shall foreigners be suffice: to a tax from
any other income than that derived from
property owned, or occupations or em
ployments purchased by them within the
Confederate States; and in estimating
income there sLall be included The value
OF the estimated annual rental of all dwell--
ing houses, buildings, or building lots in
cities, towns or villages, occupied by the
owners, or owned and not occupied or hir-
ed, and the value of the estimated annual
hire of all slaves not engaged on planta,
tions or farms, and not employed in some
business or occupations the profits Of
which are taxed as income under this
Act. When the income shall be thus as
certained, all Of those which do not exceed
five hundred dollars per auEum shall be
exempt from taxation. On all incomes
received during the year over five hundred
dollars tax Of five per cent. shall lie paid
on all incomes over fifteen hundred dollars,
and less than three thousand dollars, Eve
per cent. shall be paid OH the first fifteen
hundred dollars, ana ten per cent. on the
excess; on al incomes Of or over three
thousand dollars, and less than five thou
sand dollars, tax Of ten per cent. shall
be paid; on all incomes Of or over five
thousand dollars. and les; than ten thou
sand dollars, tax Of twelve aid a half
per cent. shall be paid and on al incomes
of or over ten thousand dollars, a tax of
fifteen per cent. Shall be paid. All Joint
stock companies and corporations shall
reserve onc-tenlb Of the annual earnings.
Sc: apart for dividend and reserved fund,
to be paid to the collector Of the Confeder
ate tax, and the dividend then paid to the
stockholders shall no: be estimated As -
part OF his income Tor tie purposes Of this
act. All persons shall give in an estimate
OF their i"come and profits derived from
any other source whatever, and in doing
SO shall trsL state the gross amount of their
receipts as Individuals or members Of
hrIn or partnership, also state particularly
each item fof which deduction is 10 be
made and the amount to be deducted for
~ provided THAT the income and profit on
which the above tax is tn be imposed shall
;,oi be deemed ldAinciude the products of
and which are taxed in kind, as hereinaf-
Ter described. Provided, further, that in
ne annual earnings of said joint stock
companies anu corporations set apart ss
afor esaid, shall give a profit Of more than
ten and lcs' than twenty per cent. upon
their capital stock paid in, one-eighth of
said sum SO set apart shall be paid as tax
to the collector aforesaid, and in case said
sum so set apart shall give profit of more
than twenty per cent. on their capital stock
paid in. one-slxth thereof shall be reserved
and paid as aforesaid. The tax LEVIED in
this section shall be collected on the frs,
day Of January ensuing.
SEQ 0. That if the assessor shall be dis
satisfied with the statement or estimate of
income and profits derived from any source
whatever, other than products in kind,
which the taxpayer is required t" render,
or with any deduction claimed by said tax
payer, he shall select one disintere ted
citizen Of the vincnage as referee, and
the tax payer shall select another, and the
two thus selected shall call in third who,
snail investigate and determine the facts
in reference to said estimate and deductions
and fix the amount Of income and PROFITS
on which the tax payer shall be assessed
and certificate signed by majority Of
the referees, shall b. conclusive rs TO the
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