Daily Ohio statesman. [volume] (Columbus, Ohio) 1855-1870, 1864-04-22
'1F PRINTED AND PUBLISHED BY
!. The Ohio Statesman Company
INVARIABLY IN ADVANCED
An Important Document,
TIIE NEW TAX BILL
rnereesea Rates.

THE NEW Tax BILL
Lncr r g a = @ a R a { g - .
The new internal revenue bill reported in
Congress last week is revision of the act
now in force. 1t contains 173 sections, for
ty-seven of which are devoted to genera
provisions. There is one provision which
exempts from distraint the tools or imple-
ments of trade or profession, one COW, arms
and provision, household furniture kept fol
use, and the apparel necessary for a family
The bill is Of such vast Importance, and af-
fecting so many interests, that we give it al
length to the exclusion of almost everything
else, as follows:
'-." INCOME TAX.
All citizens, at home or abroad, must
pay five per cent. on all income above 5000
except that derived from United States
securities, which pay two and half pei
cent. ll rt.
From the income is to be deducted State
and municipal taxes, salaries of United
States officers, (on which higher percent
of the capital stock of banks, savings in
stitutions, trust, insurance and railroad COM
panies, and bonds; also the house rent, to
an amount not exceeding two hundred dol
lars; but the owner of a homestead must
include in his income its value above two
hundred dollars per annum. The interest
on notes. ETC., held over and above what is
paid on notes, ETC., due others, is part of
ones income, together with the gains from
purchase and sale of property, increased
value of live stock, and farming produce
The amount paid for rents, labor or interest,
necessary for the conduct of business, is
to be deducted, but not for new buildings
or improvements.
All persons are to make sworn return
as furnished by internal revenue commits
sioner. The tax must be paid by 3Oth June,
in each year, until 1870, and ten days after
demand BY collector adds five per cent. If
not paid, lien for the United States is Gre
ated, enforceable by distraint Sale gives
perfect title.
Five per cent Is imposed on all incorpor-
ated companies dividends, and for default
of true return, five hundred dollars fine is
imposed. H td 5 HHr Ht' .i
Banks of circulation, not making divi-
dends, must make semi-annual returns
of profits, on which five per cent. must be
paid. f5-, eHai i.
Railroads are to pay five per cent. on in
terest on coupons and bonds. Canals, turn
pixies and naYigations, the same.
q. United States officers, civil, military and
naval, must pay five per cent. on their sala-
ries above six hundred dollars, to be deduct
ed at the time of payment.
LICENSES. f8
In addition to the duties payable for Ii
l. al thAr obnI
collected and paid on all spirits that may
be distilled and sold, or removed for con-
sumption or sale, of first proof prior to the
first day of July, eighteen hundred and
sixty-four duty of sixty cents on each
and every gallon; on and after the first day
of July, eighteen hundred and sixty four to
the first day of January, eighteen hum
dred and sixty-five, duty of one dollar
on each and every gallon; on and after
January first, eighteen hundred and sixty
five, duty Of one dollar and twenty-five
cents on each and every gallon; which
duty shall be paid by the owner, agent, or
superintendent OF the still or other vessel
In which the spirit shall have been distilled,
within five days after the time of rendering
the accounts of the spirits so chargeable
with duty, required to be rendered by law;
and the said duty shall be lien ON such
spirits, and also on the interest of all the
stills, vessels, fixtures and tools therein, and
in the. lot or tract of land, whereon the
said distilley Is situated, until said duty
shall be paid: Provided, That the duty
on all spirits shall be collected at no lower
rate than the basis of first proof, and shall
be increased in proportion for any greater
strength than the strength of first proof.
All distilled spirits and refined coal oil
may be exported without payment of du-
u Al - -.