Indiana State sentinel. (Indianapolis, Ind.) 1861-1865, 1863-04-29
The Income Tax-Every one TO be As
sessd on the Ist Of may-rhe PrOvf-
siOns IF the Act.


siOns IF the Act.
WASHINGTON, April 10.
The Commissioner of Internal Revenue has
Just issued the following regulations for the as
sessment of the income tax. The Assessor and
assistant Assessor of each collection district, will
assess the income tax, the first day Of MAY
next. upon every person residing within the dis
trict liable thereto. Each person will be required
to return his total income. 50 far specifying the
sources from which it is derived as to enable the
assistant Assessor decide what deductions shall
be made therefrom. Persons whose income does
not exceed the sum of SO 600, and who reside in
the United States, will be subject to a duty of 3
per cent. on such portion thereof as is liable to
taxation; provided, however. that upon the in
come derives from interest upon notes, bonds, or
other securities of the United States, a duty of
! l l5 per cent. will be levied. Persons whose in
comes exceed SIC. 900, will he subject to a duty
of per cent. ON the portion thereof subject to
/ taxation; provided, however, that upon the in
come derived from interest upon the notes. bonds
or other securities of the United States duty of
/ l = per cent. will be levied Citizens of the
| United States residing abroad, aud not in the EN-
/ pioyment of the Government of the United
States, will be subject to duty of per cent. on
the income of any property, securities or stocks
owned in the United States and not EXEMPTED
/ from the income tax; provided, however, that
/ upon the income derived from the interest upon
notes, bonds, or other securities of the United
States, duty of l y per cent. will be levied.
Every farmer or planter will be required to make
return of the value of the produce of his farm or
/ plantation, without deduction for the labor or
services of himself and his family. or for any por-
ton 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 reminder. viz.:-State
and local taxes assessed in the calendar year pre-
ceding this assessment, TO wit.:-From January
LIST, 1862, TO December lst. 1862, inclusive sal
aries of officers or payments to persons in the
service or EMPLOYEES of the United States
from which deduction of three per cent has
been made by the dlsburSing officers of the Gov
eminent; interest or dividends of stock. capital
or deposits in any bank, trust company or savings
institutions, insurance, bridges, express, steam
boat, ferry boat, railroad company or corporation,
from which interest or dividends duty of three
per cent. shall have been deducted by the officers
of such companies. corporations or associations.
Interest from any bonds or other evidences of
Indebtedness of any railroad company or other
corporation. from which duty of three per cent
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 $500,
except in those cases where the whole or any
part OF said 5000 shall have been deducted from
the salaries or paw of officers or persons in the
service or employment of the United States; the
amount actually paid for the rent Of every dwell
Ing house or estate which is the residence OF the
person assessed; and the amount paid bv any
farmer or planter for hired labor and necessary
repairs upon his farm or plantation, including the
subsistence of the laborers.
Whenever the total income of person ex
ceeds SO 900 and deductions are made there
from, upon the ground that portion of such in
come has been subject to a 3 per cent. duty upon
dividends or interests paid by companies, corpo-
ratiOns, or associations, as before enumerated,
such person will be subject to tax of , per cent
additional upon so much of his income as NAV
have been previously subjected to Il duty of 3 per
cent. by the officers of the company, corporation
or association above named. Guardians aud
trustees. whether such trustees are so by virtue
of their Office executors, administrators or
other Judiciary capacity, are required TO make
a return of the income belonging to minors or
otier persons which may be held in trust as
aforesaid, and the income tax will be assessed
upon the amount returned after deducting such
sums as are exempted from the income taxes
aforesaid; provided that the exemption of $500
under section 90 of the Excise Law shall not be
allowed on account of any minor or other bene
icary Of a trust, except upon the statement of
the guardian or trustee, made under oath, that
the minor or BENEFICIARY has no other in-
come from which said amour, of $500 may be
exempted and deducted. Whenever persons liza
ble TO assessment of income tax shall neglect or
refuse to make the lists required by law,
or when the lists made and rendered bv such
persons shall not be accepted by the assessors or
assistant assessors be just and proper it shall be
the duty of such assessor or assistant assessor To
make lists for such persons according to the best
information he can obtain Persons so assessed
may take oath or affirmation as TO the amount of
income and dedncton therefrom, agreeably to
section %.
Persons receiving rent may deduct therefrom
the amount paid for necessary repairs, insurance
and interest on incumberance upon such rented
property The cost of new structures orimprove-
mehts to buildings shall not be dedueted from the
income. The must be levied upon all divi
dends declared prior TO September /. 1862, and
upon $500 OF all salaries of officers or payments
to persons I'm the civil. military naval or other
service of the United States for services rendered
prior TO the said date. as such dividends and pro
portions of salaries were not subject to deduction
or assessment. Interest received from or due by
trust companies, savings institutions, insurance.
bridge, express. steamboat, ferryboat and rail
road companies, corporations or associations,
prior to the same date, must also be taxed In
terest paid by him incumberances upon the
dwelling house or estate upon which the assessed
person resides NAV be deGueted from income;
also his payments for necessary repairs. Farm
produce which the producer has on hand the 3Ist
day OF December, 1862. must be appraised at its
marketable value on that day The income tax
shall be included in the annual list, and appeals
and other proceedings held as provided by law.