Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1865-04-15

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ss.a nsass. k<sAs. nal ssArs sseBnio - -
rnn-d States, shAn hs ia<isa<@ h eussaneine -
cca~s unArs IN. scrsisn Pys~skrk, Ia - -
d-darfioa II sis hsnarcd dsllzrs sAan - 80 sso
the aggregate incomes of al the De0hrss II any
family eeaPesed - rarrsfs md ss'sss eAilsss. -
husband and wife. exe~rs individual estate. s.ias,
profits realized BY sales of real ess.se puschascd
within the year for which, nco0e IL estimated,
shall be chargeabie n income: and 1asses %
sales Of real estate purchased within the year,
for which income is estimated, shall be deducted
from the income Of such year."
Sec. III. Had be IL further enacted, That
in estimating the annual gains, profits, or
income OF any person, all national. state,
and municipal taxes, other than the nation.
al income tax, lawfully assessed within
the year upon the property or sources Of
income Of any person, as Aforesaid, from
which said annual gains, profits, or income
is or should be derived, shall be deducted,
in addition to six hundred dollars, from
the gains, profits, or income Of the person
who has actually paid the same, whether
owner, tenant. or mortgagor; also the
salary or pay received for services in the
civil, military, naval, or other service Of
the United States. including senators,
representatives, and delegates in congress,
above the rate of six hundred dollars per
annum and there shall also be deducted
the income derived from dividends on
shares in tho capital stock Of any bank,
trust company, savings institution, insur-
ancc, railroad. canal, turnpike, canal nav
igation, or slack-water company, and the
interest on any bonds or other evidences
of Indebtedness Of any such corporation or
company. which shall have been assessed
and the tax paid, as hereinafter provided /;
also the amount paid by any person for
the rent of the homestead used or occu-
pied by himself or his family. and the
rental value Of any homestead used or oc-
cupied by any person, or by his family,
in his owl right or in the right Of his wife.
shall not b. included and assessed as
part of the income Of such person. In
estimating the annual gains. profits, or in
come of any person, the interest over and
above the amount Of interest paid upon all
notes, bonds, aud mortgages, or other forms
of indebtedness, bearing interest. whether
due and paid or not. good and collecta.
bic, shall b. included and assessed as a
part of tho income Of such person for each
year; and also all income or gains derived
from the purchas and sale Of stocks or
o:her property. real or personal, and the
increased value of live stock, whether sold
or on hand, and the amount of sugar, wool,
butter, cheese, pork, beef, mutton, or 9th
er meats. hay. and grain, or other vegcta-
bic or other productions Of tn, estate OF
such person sold. not Including any part
thereof unsold OF on hand during the year
next proceeding the thiry-6rst Of Decem-
ber, shall BE- included and assessed a. part
of the income Of such person for each year
and the gains and profits Of all companies.
whether incorporated or partnership. other
than the companies specified In this Sec
tion, shall be included in estimating the an
nal gains, profits. or income Of any per-
son entitled to the same, whether divided
or otherwise. In estimating deductions
from income, as aforesaid, when any per-
son rents buildings, lands, or other proper
ty, or hires labor to carry on land. o. to
conduct any other business from which
such income is actually derived. or pays
interest upon any actual incumbrences
thereon, the amount actually paid for such
rent. labor, or interest shall be deducted;
and also the amount paid out for usual or
ordinary repairs. not exceeding the aver
age paid out for such purposes for the pre-
ceding five years. shall b. deducted but
no deduction shall be made tor any
amount paid out for new buildings, per.
maneut improvements. OF betterments.
made to increase tie value Of any property
or estate: PSoridca, That in cases where
the salay o. other compecsatioa paid 70
any person in The enpseyusas q serves
of ths Usitea States. shall see ssesed tie
rate ot six hsndrcd do'lass Per ssssn. Or
shaIl be BY f.rs. OF useestsis o. irrEal.
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