Charles City intelligencer. [volume] (Charles City, Floyd County, Iowa) 1864-1866, 1865-05-11
OFFICIAL.
LAWS OF THE UNITED STATES,
Passed at the second Session OF the Thirty
fPuBLIcNo. So |
Concluded.

TC5ncluded1 -#
AN ACT to amend an act entitled "An ace
to provide internal revenue to support the
government to pay interest on the public
debt, and for other purposes" approved
June thirtieth, eighteen hundred and sixty
four. "@"
That section ninet7-six be amended by i.il.
serting after the words ''cider and cider vine-
gar, and sugar or molasses made from other
articles than the sugar-cane; by striking out
after the words ''use exclusively" the words
materials prepared for the manufacture of
hoop skirts exclusively and unfit for other
use, such as and inserting i'm lieu thereof the
word land, !" and by striking out the words
.'for joining hoops together, and inserting in
lieu thereof the words fused in the man ufac-.
ture of hoop skirts
That section ninety-nine be amended hv
striking ont the words gold and iilver bull
ion and coin, and by striking out the wolds
''of all contracts for such sales, and inserting
in lieu thereof the words upon any sales or
contracts for the sale Of gold and silver bullion
and coin, one-tenth OF one per centum on the
amount of such sales or contracts"
That section one hundred and three be-
amended by adding the following after the
word vehicle where il occurs the second
time in the section: "Prouided, That this
section shall not apply to those teams, war.
ons, and vehicles used i'm the transportation of
silver ores from the mines where the same is
excavated to the place where they are reduced
| OF worked
That section one hundred and three be-
further amended by inserting after the words
| ''and any foreign port, the words .'but such
duty shall be assessed upon the transportation
OF persons and property shipped from port
within the United States. through foreign
territory to port within the United States,
and shall be assessed upon, and collected from,
| persons. hrms, companies, or corporations
within the United States receiving such freighs
or transportation Aud that section one
hundred and three he amended by adding at
! the end of said section the following. Ind
prOcided, further, That no tax under this sec
tlon shall he assessed upon any person whose
| gross receipts do not exceed one thousand dol
| lars per annum.' .. .
| That section one hundred and five be amen
ded 10y striking out, at the end thereof the
words FOR the quarter then next preceding
| That section one hundred and nine bean
ded toy striking out, after the words - one hun
dred and, the word tive" and inserting ill
| lieu thereof the word three"
That section one hundred an | ten be amend
ed 10y striking out, after the words and re-
denption thereof" the words NOR TO any
savings bank having No capital stock, and
whose business is confined to receiving depos-
its and loaning the same on interest for the
benefit Of the depositets only. and which do
no other business of banking"
! That section one hundred and sixteen bee
amended by striking out all after the enacting
clause and inserting in lieu thereof the fol-
| lowing That there shall be levied, collect
cd, and paid annually upon the annual gains.
ptohts, and income OF every person residing i'm
the United States or of any citizen of the Uni
ted States residing abroad, whether derived
from any Kind OF pIoperty, rents, interests,
dividends, or salaries, or from any profession,
trade, employment, or VOCATION carried on i'm
the United States or elsewhere. or from any
other source whatever, a duty of five per cent
um on the excess over six hundred dollars and
not exceeding five thousand dollars, and du-
ty of ten per centum on the excess over five
thousand dollars; and in ascertaining the in
come Of any person liable to an income tax.
the amount of income received from institu-
tions whose officers, as required by law with
hold a per centum of the dividends made by
such instructions and pay the same to the Com
missioner of Internal Revenue, or other Off
Ger authorized to receive the same, shall be in
cluded /; and the amount so withheld shall be-
deducted from the tax which otherwise would
be assessed upon such person. And the duty
herein provided for shall be assessed, collected,
and paid upon the gains, profits, and income
for the year ending the thirty first day of De-
eember next preceding the time for levying,
collecting, and paying said duty Proriaed,
That income derived from interest upon notes,
/ bonds, and other securities of the United
States, and also all premiums on gold and
coupons shall be included in estimating in
comes under this section, Prov,ded, further,
That only one deduction of six hundred dob
lars shall be made from the aggregate incomes
of all the members of any family, composed
OF parents and minor children, or husband and
wife iHd preceded. further, That net profits
realized by sales Of real estate purchased with
in the year for which income is estimated, shall
be chargeabl as income; and losses ON sales of
real estate purchased within the year. for
which income is estimated, shall be deducted
from the income of such year.
That section one hundred and seventeen be
amended by striking out all after the enacting
clause, and inserting in lieu thereof the fol-
lowing That in estimating the annual
gains, profits, and income of any person, all
national, State county, and municipal taxes
paid within the year shall be deducted from
the gains, profits or income of the person who
has actually paid the same, whether owner,
tenant, or mortcagor also the salary or pay
received for services in the civil, military, ma
val. or other service of the United States, in
eluding senator's, representatives, and delegates
in Congress, above the nate of six hundred
dollars per annlm; also the amount paid by
any person for the rent of the homestead used
or occupied by himself or his family and the
rental value of any homestead used or occu-
pied by any person OF by his family, in his
own right or III the rig lat OF his wife, shall not
De lneluiitu anu sesesseu as part of The income
of such person. In estimating the annual
gains, profits, or income of any person, the in
terest received or accrued upon all notes,
bonds, and mortgages, or other forms of in
:, debtedness bearing interest. whether paid or
not, ii good and co.lectable less the interest
paid by or due from such person. shall be in
cluded and assessed as part of the income Of
such person for each year and also all income
or gains derived irosl the purchase and sale of
stocks or other property, real or personal, and
of live stock, and the amount of live stock,
! sugar, wool butter, cheese, pork. beef, NUT
ton, or other meats, hay anu grain, or other
vegetable or other productions. being the
growth or produce of the estate of such person
sold, not including any part thereof unsold or
on hand during the year next preceding the
, thirty first of December, until the same shal |
be sold, shall be included aud assessed rs part
of the income of such person. for each year i,
and his share of the gains and profits of all
, companies whether incorporated or partner
ship, shall be included in estimating the AN :
nual gains, profits, or income of any person en-
titled to the same, whether divided or other
wise. In estimating deductions from income,
, as aforesaid, when any person rents buildings.
lands, or other property, or hires labor To cul-
tiyate land, or to conduct any other business
, from which such income is actually derived
!, or pays interest upon any actual incumbrance
e thereon, the amount actually paid for such