The daily Green Mountain freeman. [volume] (Montpelier, Vt.) 1861-1865, 1863-04-18
The Assessment Of the Income Tax.
PARTICULARS OF THE LAW.

ofincome tax:
The assessor and assistant assessors Of each
collection district will assess the income tax on
she first of May next, upon every person residing
within thu district liable thereto. Each person
will be required to return his total income, far
specifying the sources from which it S derived as
20 enable the assistant assessor to decide what de-
ductioas shall be made therelrom.
Perooa whose income does not exceed the sum
of $1,000 and who reside in the United States,
will bs subject to the duty Of three per ceat on
such portion thereof as is liable to taxation, pro-
viaed, however, that upon the income derived
from interest upoa notes, bonds, or other secur-
ties Of the United States duty of liz per cent
will be levied.
Persons whose income exceeds 81, 900 will be
subject to duty oil five per cent on the portion
thereof subject to taxation, provided, however,
that upon the income derived from interest upon
notes, bonds or other securities of the United
States, duty of ID per cent will be levied.
Citizens of the United s .ates residing abroad,
and tot in the employment Of the Government OF
che United States, will be subject to duty of five
per cent on the income Of any property, securities
ar stocks owned in the United States and not ex
empted from the income tax, provided, that upon
the income derived fem the interest upon notes,
a duty of - per cent will be levied.
livery 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 o. himself or his family, or for any
portion Of such produce consumed by himself or
family.
The following deductions will be made frem
the aggregate income of each person and the tax
Assessed upon the remainder. Viz: State and
local taxes assessed in the calendar year prece-
ding this assessment, to wit from January first,
1902 to December 3lst, 1862 Inclusive. Salaries
Of officers or payments to persons In the ser.
vice or employment Of the United States, from
which deduction of three per cent has been
made by the disbursng officer of the Govern.
p,snt 10 crest or dividend Of stock, capital or de.
posts in any bank, trust company or savings in
stituion, insurance, bridge, express, steamboat,
ferry-bo4 railroad company or corporation, from
which interest or dividends duty of three per
cent shall have been deducted by the officers of
such companies, corporation or associations, inter-
est from any bonds or other evidences Of indebt-
edness Of any railroad company or other corpora
ton from which duty Ct three per cent shall
have been deducted by the officers Of such COM
pany or corporation, and receipts derived from ad-
vertisements on which duty shall have been as
lars, except in those cases where the whole or
any part OF said six hundred dollars sball have
been deduc ed from the salaries or pay Of officers
or persons in the service or employment of the
Uaited States. The amount actually paid for the
rent of every dwelling house or estate which is
the residence of the persons assessed, and the
amount paid by any farmer or planter for hired
labor on necessary repairs upon his farm or plan
sation, including the subsistence of the laborers.
Whenever the total income of any person ex-
eeeds $4,000, and deductions are made there
from upon the ground that portion Of such in
-ome has beer Suhject to three per cent duty
x,,on dividends or interest paid by companies,
resn ,ratons or associations as before enumeratea,
such wsSsons will be subject to a tax of two per
cant additional upon SO much OF his income as may
have been previously subjected to duty OF three
ner cent by the officers OF the companies, corpor-
stioss or associations before NAMED. ..... .-.
Guardians and trustees, whether such trustees
are 10 by virtue of their Office as executors, ad-
uinisuators or ether judiciary capacity, are re-
x,uiied to make a return OF the income belonging
20 mirrors or other persons, which may be held in
xust as aforesaid, and the income tax wilt be as
.e.sed upon the amount returned after deducting
such sums Is are exempted from the income tax
=. aforesaid, provided that the exemption OF 5000,
spnder aectloA nlnsy VI sh0 eAeiee s"' 1854 NV
BE- SLOWED in account OF any minor or other osne,
dietary ofa trust, except uton inc statement OF
~. Guardian or trustee made under oath that the
s.n;,er or beneficiary has no other income from
vhisb said amount Of $500 may be exempted and
Aeduc ed. ~ - ~-4a ~. 4t :.
Whensy.r, persons liable to asssssmsnt OF in
acme tax shall neglsci or refuse TO- mske the Gst'
sesa,uired BY Law, Of when The lists made and ten
dared BY such persons shall not be accepted ;,
az assessor or assistant assessors and prop
or. !. shsn be the duty OF such assessor or assist