Rutland weekly herald. [volume] (Rutland, Vt.) 1859-1877, 1865-08-17

estate Of such person sold, not including any
part thereof unsold or on hand during the year
next preceding the thirty-drst OF December,
sha 90 included aud assessed as part OF tbs in-
come Of such person for each year, sHd the gains
ami Irofs Of all companies whether inooTpor-
ated or partnership, other thai the companies
specific ia thus Sc iuou, shall be included in es-
timtting the annual gains prou's, or income OF
any person entitled 20 the ,me, whether divld d
or 5therNise. In estimating deductions ON in-
come, as Aforesaid, when auy per on rents bull
dngs, lands, or other property, or hires labor to
carry on land, or 70 condne' any other business
from Which such income is actually derives, OF
pays lntrust upon any scruh inepmhAne9
thereon, the amount actually paid for such rent
labor, or interest, SHAH be Deducted; and also
the amount piil out for usual or ordinary repairs
not exceeding the average paid out for such pur-
poses for the preceding i've Yeas, ahaN be de-
Quoted, but no deduction shall be made FIR any
amount paid out for new buildings, psrmane
improvements, sr betterments, made 10 inot ease
the value et any prororty or estate; Propldsd,
That 10 cases whore the salary other Compen-
sation paid % any person in the employment or
service OF the United States, shall not exceed the
rate of SIX hundred dollars per annum, or shall
be .by fees or uncertain or irregular In the
amount or ia the me during which the same
shall have accrued or been earned such salary
or other compensation shall be included in estl-
mating the annual gains profits or income of
the person 20 whom the same shall have been
paid, in such manner as the Commissioner Of In
lernal Revenue, under the direction of the Sec
rotary Of the Treasury, may prescribed.
SEC, lis. -JHd be Il further enacted, That il
shall be the duty of all persons Of lawful age and
all guardians and trustees whether such trustees,
are O6y virtue of Their office executors, adj
ministrators, OF in other hluciary capacity, TO
make list or return under oath or affirmation,
in such form and manner as may be prescribed
by the Commissioner of Internal Revenue, 70
the assistant assessor of the district in whsch he
resides, Of the amount of his or her income, or
the income of such minors or persons as may he
ha1A ~ tlra.
quiremeRts herenbetore mentioned, stating the
sources from which said income is derived,
whether from any kind of property, or the pur-
chase and sale OF property, rents, interest, div
idend', salaries, or from any profession, trade,
empioym ont, or vocation, or otherwise And
in case of neg ect refus 81 10 make such return
the assessor or assistant assessor shall assess the
amount Of his or her income. and thu duty there
on, IN the same maAner As il provided for in
other cases of neglect and refusal 20 furnish lis.
or returns in the provisions OF this act where
not otherwise incombatible; and the assistant
assessor may lncreas the amount OF the list or
return, or of any party making such return, If
he SHAH be satisfied that the same is Ut ieTstated
PorU3ded, That any party IN his or her onw be-
halt, or guardian or trustee as aforesaid shall
be permitted TO declare, under oath or affirmation
the form and manner of which shall b. prescr-
BED by the commissioner of Internal Revenue,
that he or she was not possessed of an income of
SIX hundred dollars, liable to he asse sed accor-
dlng - the provisions of this act, or may declare
tnal nc OF she mas been assessed elsewhere In
the same year for, nd has paid an income duty,
under authority OF the United States. and shall
thereupon be exempt from income duty in said
dlstrloti or, II the list return of patty shah
been increased by the assistant assessor, in man
ner as atofesald, such party may be Germ tied to
d. clare, under oath or affirmation, the amount
OF annual income, or the Mount hed in trust
as aforesaid, liable to be assessed. and the same,
so declared, shall be received by such assistant
assessor as true, and as the sum upon which
duties are to be assessed and collected, except
that the deductions claimed in such cases shall
not be made or allowed until approved by the
assistant as essor. But any person feeling ag-
grleNed by the tecision of the assistant assessor
IN such cases may appeal to the assessor OF the
district, and his decisO thereon shall be final;
and the form, time, and manner OF PROCEEDINGS
snail be subject to rules and regulations to be
prescribed by the Commissioner OF Internal Re
venue.
SEC. l19 And be ii further enacted, That the
duties on income herein imposed shall be levied
on the first day of May, and be due and payable
en- or before the thirtieth day of June, in each
year, until and including the year eighteen
hundred and seventy, and no longer; and 20 any
sum or sums annually due and unpaid 1or thirty
days after the thirteth of June, as aforesaid, and
Tor ten days fer demand thereof BY the colleC-
tor, there shall be levie1 in addition thereto the
sum OF ten per centum on the amount of duties
UNPAID, as a pena ty, except from the ats OF
decv ased and lnsolgeHt persons Aud 1t any par
son able to pay such duty shall neglect
fuse t. pay the same after such demand, The
amount de shall BE- lea in f,vor of the United
states from the Tine It Was due until paid, with
the interest," penalties, and costs that may accrue
IN addition thereto, upon ali tn property and
rights to property bolon sing to s4ah por-azl: and
IN CefauIt OF the payment OF said duty aforesaid
said lien may be enforced by distraint upou
such properly, rights to property stocRs securi.
ties, AMI evidences of debt, by whomsoever hol.
den and for this purp1 the collector after de-
mands duly given, ~ Aforesaid, shall ssue a
warrant, IN form and manner TO oe prescribed
by the Commissioner of Internal Revenue, unde r
the directions of the Secretary ri the Tceasur
and By vlrLure of such warrant there may be lev
lei on ueh property, stocks securities, sn1 evi
dences OF debt, further sum, to be fixed aud
stated in such warrant, over and above the said
annual duty interest, and penalty for non-pay-
ment, sufficient for the fees, cost, and expenses
Oh Sucn levy And in all cases Of sale, as afore-
SAID, the certificate Of such tae by the coll, ctor
shall vest in the purchaser all right title, and
interest Of such delinquent in and TO such pro.
perry whether the property be real or personal
ana Where the subject of sale shall be stocks the
certificate OF said aae shall he lawful authority
and notice to ne proper corporation company
| or association, 70 record the same on the books
or reco ;ds IN the same manner as if transferred
| or assigned by the person or party holding the
same, to issue new certificates OF stock thereto
In lieu OF any original prior certifca es which
| SHAH be void whittier cancelled or not. And
| said certificates of sa Of the collector where
| the subject Of sale shall be securities or other
evidences OF debt, shall be good and valid reca-
| ipt5 to the person boiling the same, as against
any person holding. or claiming to hold, posses.
| sion of such securities or other evidences OF
! debt.
| SEC. l20. Aad be ii further enacted, That there
| shall be levied and collected duty of five per
centum on all dividends in script or money
thereafter declared due, aud whenever the same
| shalt be payable, to sto ?kholders, poicy-holdefs
| or depoSitors part of the earnings, income OIL
gains Of any bank, trust company, savings in.
| stitution, and Of any fire, marine, life, inland
| insurance company, either stock or mutual un.
der Eha ever name or style known or called, in
the United S tates or Territories, whether speci
ally incorporated or existing under general laws
and on all undistributed sums, or sums made o,
added during the year to their surplus or con.
tingent funds; and said banks, trust companies
savings institutions, and insurance companies
shall pay the said duty, and are hereby author.
lied to deduct and withhold from all payment:
made on account of any dividends or sums o.
money that may be due ard payable as afore
sad, the said duty of five per centum. And
list or return shall be made and rend red to the
assessor or assistant assessor in duplicate, anC
one OF said lists or returns shall be transmitted
and the,duty paid to the Commissioner of Inter
nal Revenue within thirty days after the tim,
when any dividends or sums of money become
due or payable as aforesaid; and said list or re.
turn shall contain true and faithful account
OF the amount of duties as aforesaid; and there
shall be annexed thereto declaration of the
president cashier, treasurer of the bank, trust
company, savip gs institution, or Insurance. com.