Staunton vindicator. [volume] (Staunton, Va.) 1860-1896, 1864-01-22

ANUARY 90, 1864.
| Income and Salary Tax.
! Since there exists some doubt in the minds
81 taxpayers Is to how their income tax is
to be- reported. We ptBlisf Below that part
! Of the tax act which refers to incomes and
salaries, in order that all may read and un-
derstand for themselves. No deductions
from gross income will DO allowed, but
those specified 10 the law. The attention
/ Of our readers il called to the annexed Sec
ltions u the Act.
sAIAkths.
$40. I. That upon the salaries ofall sal
ried persons serving in any capacity what
ever. except upon the salaries of persons in
tho military Or naval service, there shall be
levied and collected . tax Of one per cen
tum on the gross amount Of such salary,
wten not exceeding fifteen hundred dollars.
and two per centum upon an excess over
that amount, to be levied and collected at
The end Of each year. in the manner pre-
scribed for other taxes enumerated in this
/ hot: f'r0vias2, That no taxes shall be inn
posed by virtue Of this act Oh the salary Of
any person receiving salary not exceeding
one thousand dollars per anum, or at like
rate for another period Of time longer Or
shorter.
Ircom1s FROM All toeArIoNs.
| So. 8. fiat Tie Secretary ii the Treat
ury shall cause to be assessed and ascer-
tanned, on the FIRST day Of January next,
or As soon thsFsafsr as practicable the in
come and profits derived BY each person,
Joint stock company and corporation from
every occupation, employment or business,
whether registered or not, in which they
may have been engaged, and from every
investment Of labor, skill property or mon
ey, and the income and profits derived from
any source whatever, except salaries, during
the calendar year proceeding the said first
day Of January next, and the said income
and profits shall be ascertained, assessed
and taxed in the manner hereinafter pre-
scribed.
! RENTS.
I. II the income be derived from the
Irents Of houses. lands, tenements, manhfso-
turing mining. establishments, fixtures and
machinery. mills, springs Of saltor oil, or
veins of coal, iron or other minerals, there
shall be deducted from the gross amount Of
the annual rent sum sufficient for the
necessary annual repairs, not exceeding
item per centum on eaid rent, except that
the rent derived from houses shall be sub
ijact to deduction not exceeding Eve psf
centum for annual repairs.
MxNbtlcruR1Na, ETC.
| II. # the income be derived froth any
manufacturing or mining business, there
shall be deducted from the gross value Of
the products of the year !: first, the rent of
the establishment and fixtures, if actually
rented, and not owned by the persons pros
ecuting the business: second, the cost of the
labor actually hired and paid for; third, the
actual cost Of the raw material purchased
and manufactured.
/ NAVIGATING ENTERpRIsEs.
III, If the income be derived from nav
igating enterprises, there shall be deducted
from the gross earnings, including the val
ne Of freights on goods shipped by the per-
son running the vessel. the hire Of the boat
or vessel, if not owned by the person run
ming the Same, or if owned by him, a rea-
soonable allowance for the wear and tear Of
the same, not exceeding ten per cent. per
anum, and also tie cost Of r1nkihg the
BEAT OF vessel.
SHIP BUILDING, ETC.
". ftke income be derived 81 the tax
payer from boat or ship-building. there shall
be deducted from the gross receipts Of his
occupation. including the value of the ship
. whom finished, if built for himself, the cost
of tie labor actually hired and paid by him
self, aid Tie Prime cost Of the materials, if
Purchased by him.
sALEs OF nEacnlNtIsa AND o4aER Prop
| Y. If the income be derived By the tax
payer from the sale OF merchandise or any
other property, real or personal, there shall
| W u0ouoeCu - Vu4. Wig tOoS auVuut VI caIce,
the prime cost Of the property sold, inclu-
ding the cost Of transportation, salaries Of
clerks actually paid, and the rent Of build
|ings employed in the business, if hired and
not owned by himself.
ALL OTHER OCCUPATIONS:
t VI. 1ftEe income be derived b tie tax
payer from any other occupation, profess
ion. employment or business, there shall be
deducted for tho gross amount. Of fees.
Ecompensation, profits, earnings. Of con-
missions, the salaries Of clerks actually paid,
and the rent of the Office or other building
used in the business, if hired and not
owned by himself, the cost of labor actual
~ paid and not owned BY himself, and the
cost Of material othssr: tan machinery .pur-
Echased for tie use Of his business, or to be
converted into some other form in the
course of his business; and in case of mutual
Einsurncae companies, the amount Of losses
|paid by them during the year. The income
derived from at other sources Sail be sub
lject to no deduction whatcuer; nor skall
fcteisners De subject to q tax upon any
ogher inco o;s than that derived from prop
e.ty owned, or occupations or cmployments