Abbeville press. [volume] (Abbeville, S.C.) 1860-1869, 1863-08-07

the Interest has MT been paid. Tho in
come tax is laid upon all interests aud T. 0
! fits received during the year 1863; and
c"nScIu,'tly the capital lax is not On
cd to Ec lad upon the credits which rro-
ducc that iItc. est. We are thus furri, he'd
WI IA rule Tor our f;uilau"c, auL it crI!uxs
'hat The tx q! one per cent. j; not iinpDs-
cd Oh credits upon WHICH the interest due
J ri'"r I" tn" !, July has been pail aud
/ "n tie other land, if such interest has not
been pad, tiicn there l.avng hccn 10 in
come % be ta"ri, The tax fails ur,,n the
capital. In tbs CONNECTION | would alsy
re'n"'N IN RESPECT to the ''va!,,c Of credits,
ti.a; illls n"a':s III" principal AMI in,eic>,
Not i''r! ct all s''.ve:.t credits, ,.il Tie cs-
i:ma'rd value " hc;, tic hul,!-r will swear
that such credits are not believed hy him
!" h: w'r'h the rIi',ipal ml interest,
An'' n"%, rs I" credits cm,luv,.d in n
business the income Of Which is taxed un
der the Act. These are also exempt from
tie cn!'ltl tax Of one per cr,a. But to
"hhi.c 'h"fn /" srh exemption he credits
n''st i'c;ua''y lrrm n ra', OF, ard Lc cx-
r'n1ivr!y u,"i II carrying IN suri. hui
ness. i""r 'EuS, lro:v % IT uf the REGULAR
1a'I"act'"nS of the tu< ness OH acrn,iu, oi.
! NH''h "%"n'i'''"n IS claimed! and lh. mo.
i hey "c'Ivc" if"ri The tr.!.t- alien paiI
! ma be used III SUE. business, otherwise
= lH"y ate MT "x"mnl. c. The sau!c q, in-
. ion VII! apH!y 10 Confederate so:rli or
stock. ~ 80" q edit. wl,:. tie ,u.cr
-, is piy..bic &. stated rc,;oi4, and has
! b''n pal! nr 10 tho u riu,l wlc.l i, las,
! lei 'fu", AMI the 1T ci July iE,crvrnc> be.
, l"': the Tex, Slated period Tor PAYING in.
! tsr"Nt "'iircH, t."n Ill n,crc.: wl.i,.E H..
! i'"'""r "a" legal .!,hl to demand h.s
been r;'I, an! III" r,r.ii,a 40 yi,u,t,I are
! not ta"":'le "r1"r S.riiyn Isl! Tn,; ar
! pines l" ~ cofi'"ca:c or State bonds ar,i
i st"cks "a: "m which ,hr interest !. ~, ahrc
an ! has been i.a;I 4 stated periods. But
! 'hc l''rr"s! j'ri:ci from s,:cI. !2r,!, ,,n,irr
! Tn" "ho:c year %! l3G2, viii he tax1b'r
- nc me "i .h" 1t day nf Jan ar: ""y,
! *i.;rr' 10 the c"n'!i;i;.H: ii t,r,,iua ,,;!i Gf
: thc i":' Act. II" tax upon interest
when p"l as inco!uc i, drr.:.cd ald hcld
! rs an' 'oTiva!cnt for TIE tax upon Tie cred.
! Il IL cni:''a! "hcn tho in:cr. =, l,; not
len pail. AL -: t!a t.xv: in Class I.
-, :! ''o.,;.t.! ~: t,:;. 1T ;:nr {: ,c.oEr.
, lrG3.
: II. ChAss.-A Tax IN crrtai;: c"':::uaa
. OF bust -. I'"icr ihis sIa%s arc taxed
t'rcnt,-!.vc di!:,rr:,! c,i.in-,, cyn,lreucnv
w:;h "i}'nirr aa;! c:,uinL with "I',,i,-
fr".v'1o!s. 1t. They hav. t. Le rc-;s.
t~r": us I'll" Ac; 'iirccS. =. Tn Icr hi.
CHS Il i'r>' lass 'tnteI wVull pay Il src-
c!!! tx i 500. 49,! Il tx ON p,rIi,,
u''''"' ~: ilr"r rfn>s, ~ ''u,.;,nie." 2. |:
: TIE "nte' L'"!ding hc not Owned Lv the
rr"!':r:ar. h;s rent WI 1a deducted from
Tie lHo'i'- il owned iy Tie lropri. tor,
! Tie cs'ma,c,i rental vii! I've aid d in ur-
! Ger aIo,hrr class cf taxation, us "i:.cu,ne."
This rue will apply :" all hotels in tn.
! Act. 1. I'm all registered business. where
there is n''hins but the srcciE: tax i'm
! l'osed ana no per can'ayc named, such as
on ban!:"r* !awyHrs, br.ker>, physicians,
! &;c.,l ;hcir ''proiiis' will be taxed ur.lvr
another class, rs So much added to their
"incame." S. Under this class if any per-
S"n sells and buys caltl., and also Kills lor
HE m'lk kc', he is deemed both 2 butcher
: AMI n cattle b'"Acr, and taxed accorIinr-
! ~. g. This taH is due and will be coc..
! icd inm"diGtcl V, as the parties register,
which s'4a!i be on the lst of July, or as
snol' thereafter IL possible. 7. An bel
sens named IN The 5th section of the Ar..
! ana comprised in this class, arc SO clearl,
defined i'll The Act, aid tho tax so clearly
Indicates. that no further remark with
rrga,d TO eill@r IS necessary here. s.
Liquors saij hy commission merchants
{rcs s'c:cd) has tie same tax as o,her
! goods, b"t regular Wholesale merchants
i. (as contra'iSt;nguishe he'd from luuor deal
er*, arc prohibited !ron. selling liquors
under !i'cir registration as such, and if
! they sell liquors will have to do so unler
separate registry, paying the tax Of S to
10 Ter cent, as either wholesale or retail
l'q"or dealers, as they may register them
selves. 8. All OF lhe tax in Class II. will
b. collected lst day of July, 1863, or AS
s"ol as Tie work can be cornncnccd there
after.
iii. CAAss-A Tax on salaries as such
It will be Seen by reading the Acr, tha. i,
docs not r.ntempltto that salaries sha!!
oT4'"ority lie c!assed as income" |.
! s'ia:ha OF all persons are taxed, iucludr
c!crGvnian and teachers, unless ,hev do
not exceed $1,000. Tn. only exception
being those in the military or naval SER
vice. 3. The tax on Salaries shall be
coi!eclcd'ln the same manner that the in
c'me lax is collected, but at the end of ,he
year, December 80, 1868.
~. CLAss.-A Tax on all incomes. 1t
will be seen, by the Act, that it proposes
! HAT the largest tx shall bs raised from
this source. This tax will not be collected
until January, 1864. Then the income
| Is TO he derived from every source Of profit
! that The Assessor and Collector can dis
coNcr. The only exceptions a'e income
and moneys from hospitals, asylaGn~,
schools, churvhes and colleges. !. Tbs
means income from property ownrd By
schools, DC. II q teacher makes IN in
come, from instrucIing Scholars, which
. oxccchs $500, he is liable to the tax, ~