Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1864-03-02
, OprIcE COMMISSIONERS OF TAXES,
Richmond, Jau.'25, 1861.

Richmond, JANIS, 1861.
Tho following Instructions, in reference TO in.
como tax, are issued in lieu o! those dated 23d
December, 1868, and will he duly observed by all
tax officers:
The instruction, issued from this ofSeo, and
dated 23d December, 1868, arc hereby revoked,
and the following are issued in lieu thereof;
1st. Tho income Of farmers and planters, lcriv-
el from the sale Of products not taxed in kind
and produced by themselves, will be liable to tax
without any deduction, provided their taxable
income, from all sources, is moro than $500. II
a farmer or planter has no other taxable income
than that derived from the sale of poultry, NUT
ton, butter, eggs, and other Of his products not
taxed in kind aud such income does not amount
to more than $500 during the calendar year, such
farmer or planter mill not be subject to any in
como tax.
I'd Where renl or personal property has been
purchased prior to and sold during the calondar
year 1863, the labiitysof the proceeds of sale to
the income tay under paragraph FIVE, section eight,
depends uron the fact, whether the property has
been dealt with as merchandise. If purchased
with view to permanent investment, Its sale is
only change of capital, and the proceeds arc.
not subject to the income tax. Neither are they
subject to such ts1 ;f the property was acquired
by gilt, devise, inheritance or the like. II the
property was purchased with view to resale or
to speculative advance of prices, the proceeds are
subject to the tax, after deduotng the prime cost
aud particular charges specified in s.id paragraph,
Ii real property SO purchased and sold has been
improved by the erection Of buildings, mills,
factories, or other machinery attached to the
freehold, the prime cos. Of the improvements
made by the a.ller prior to ist day of January,
1863, ns well rs tho prime cost Of the real propey-
ty ,self stnli be deducted froM the proceeds Of
sale, and the balance will be the income.
Sd. The proceeds Of the sale Of agricultural
products produced prior to 1863, aud sold by the
producer during that year, are not to bo taxed as
income, because they ere i-como derived from ag-
ricultural operations in some year previous, and
not dHEing the calendar year 1863
4sh. In estimating the profits on the proceeds
of the sale Of sagcs or other persannl property,
purchased prior to the ist day vi January, 363,
since, and sold during said year, the prime cost
and such other items III the taxpayer may be en-
titled deduct under paragraph five, section eight,
and none other, shall be deducted from the gross
sales. and the balance shall be iacome.
9Th. The proceeds of the sale of estatsa by on,
ecutors administrators, guardians, and ether sdu,
ciaries, shall not be regarded and taxed as income.
for the reason that such sale is mere change Of
capital Wsla by requirements of the law.
OH. In asccrtaining the incrme derived fros,
any manufacturing business, the gross Yaluc Of tho
whole Of the products Of the year must be cslima-
ted. If part has been sold, and part remains
on manu. INC Vhluo Oh the tattcr must be estiatcQ
and added to the proceeds Of sale Of the former,
and the SUM will constitute the gross value Of tho
products Of the year, from which the'iens named
in paragraph two, section eight, will be deducted
and tho balance will he the income to be faxed
So tho nett value of the mahufacturer's yearly
products, is subject to tho income tax, whether
tho products have been sold or not
Approved, THOMPSON ALL..N.
COMMISSIONER OF fcres.
C. c. MExMIyGER,
Seer.fnrv of the Tredsuru