The Kenosha telegraph. [volume] (Kenosha, Wis.) 1860-1888, 1866-09-06

known or called, in the United States or Ter
ritories, whether specially Incorporated Or ex-
isting under general laws, and on all undis-
tributed sums, or sums made or added during
the year to their surplus or contingent funds
and said banks, trust companies, saving insti-
buttons, and insurance companies shall pay the
said tax, and are hereby authorized to deduct
and withhold from all payments made on ac-
count OF any dividends or sums of money that
may be due and payable as aforesaid the said
tax of five per centum. And list or return
shall be made and rendered to the assessor or
assistant assessor on or before the tenth day of
the month following that in which any divi-
dends or sums of money become due or paya-
BILE as aforesaid and said list or return shall
contain a trne and faithful account of the
amount of taxes as aforesaid and there shall
| be annexed thereto declaration of the presi-
dent, cashier, or treasurer of the bank, trust
company, savings institution, or insurance
company, under oath or affirmation in form
and manner as may be prescribed by the Com
missioner of Internal Revenue, that the same
contains true and faithful account of the
taxes as aforesaid. And for any default in the
making or rendering of such list or return,
with such declaration annexed the bank, trust
company, savings institution, or insurance
company making such default, shall forfeit as
a penalty the sum of one thousand dollars
and in case of any default in making or render
ing said list or return, or of any default i'll the
payment eff be ak as required, or any part
thereof, The essment and collection of the
tax and pc vy shall be in accordance with
the general provisions of law in other cases OF
neglect and refusal: Propided That the tax
upon the dividends of life insurance compa-
MES shall not be deemed due until such divi-
dends are payable; nor shall the portion of
premiums returned by mutual life insurance
companies to their policy holders, nor the an
nual or semi-annual interest allowed or paid
to the depositors in savings banks or savings
institutions, be considered as dividends.
That section one hundred and twenty two
be amended by striking out all after the enact
ing clause and inserting in lieu thereof the
following: That any railroad, canal turnpike,
canal navigation, or slack-Water company, in
debted for any money for which bonds or 9th
| er evidence of Indebtedness have beeu issGed,
payable in one or more years after date, upon
which interest is stipulated to be paid or cou-
pons representing the interest, or any such
company that may have declared any dividend
| in scrip or money due or payable to its stock
holders, including nOn-reSidentS, whether cltlr
zens or Aliens as part of the earnings, profits
Income, gains of such company, and ali
profits of such company carried TO the account
| of any fund.- or used for construction, shall be
subject to and pay a tax of five per centum on
| the amount of all such interest, or coupons,
dividends, or profits, whenever and wherever
| the same shall be payable, and to whatsoever
party or person the same may be payable, in
Guiding non-residents, whether citizens or
aliens and said companies are hereby author
on account of any interest, or coupons, and
dividends, due and payable as aforesaid, the
| tax OF five per centum and the payment OF
| the amount of said tax so deducted from any
interest, or coupons, or dividends, and certified
| by the president and treasurer of said compa-
| ny, shall discharge said company from that
amount of the dividend, or interest, or coupon
on the bonds or other evidences of their in
debtedness so held by any person or party
whatever except where said companies may
have contracted otherwise. And list or re-
| turn shall be made and rendered to the asses
SOr or assistant assessor on or before the tenth
day of the month following that in which said
interest, coupons, or dividends become due and
payable, and as often as every six months and
said list or return shall contain true and
faithful account of the amount Of tax, and
there shall be annexed thereto declaration
| of the president or treasurer of the company,
under oath or affirmation in form and manner
| as may be prescribed by the commissioner OF
Internal Revenue, that the same contains a
true and faithful account OF said tax. And Tor
any default in making or rendering such list or
| return, with the declaration annexed, Or of the
payment of the tax as aforesaid, the company
making such default shall forfeit penalty
| The sum of one thousand dollars and in case
| of any default in making or rendering said list
or return, or of the payment of the tax or any
part thereof, as aforesaid, the assessment and
collection of the tax and penalty shall be made
according to the provisions of law in other
cases OF neglect or tuSal.
That section one hundred and twenty-five
be further amended by adding thereto the fol-
lowing proviso PrOvided, That whenever any
of the companies mentioned in this section
shall be unable to pay the interest on their
Indebtedness, and shall in fact fail to pay such
interest, that in such cases the tax levied by
this section shall not be paid to the United
States until said company resume the payment
of interest on their Indebtedness.
That section one hundred and twenty three
be amended by striking out all after the en-
acting clause and inserting in lieu thereof
the following: That there shall be levied,
collected, and paid on all salaries of officers,
or payments for services to persons in the
civil, military, naval, or other employment or
service of the United States, including sena-
tors and representatives and delegates in
Congress, when exceeding the rate of six
hundred dollars per annum, tax of five per
centum on the excess above the said six hun
dred dollars, and tax of ten per cent. on the
excess over five thousand dollars and it shall
be the duty of all paymasters and all disburs-
ing officers, under the government of the Uni
ted States, or persons in the employ thereof,
when making any payment to any officers or
persons as aforesaid, or upon settling and adj
usting the accounts of such officers or persons
to deduct and withhold the aforesaid tax, and
they shall, at the same time time make GER
titicate stating the name of the officer or per-
son from whom such deduction was made, and
the amount thereof, which shall be trans
Il
ternal Revenue, and entered as part of the in
ternal tax; and the payroll, receipts, or ac-
count OF ofhcers or persons paying such tax as
aforesaid, shall be made to exhibit the fact of
such payment. And it shall be the duty of the
several Auditors of the Treasury Department
when auditing the accounts of any paymaster
or dlsburslng officer, or any officer Withholding
his salary from moneys received by him. or
when settling or adjusting the accounts of any
such officer, to require evidence that the taxes
ma nnn 10
and paid over to the Commissioner of Internal
Revenue, or other officer authorized to receive
the same: PrOvided That the payments of
prize money shall be regarded as income from
salaries, and the tax thereon shall be adjusted
and collected in like manner; Provided f1a3theY
That this section shall not apply to payments
made to mechanics or laborers employed upon
public works. 81
That section one hundred and twenty-four
be amended by adding thereto the following
additional proviso: PrOUided further, That
any legacy or share of personal property pass
ing as aforesaid to minor child of the person
who died possessed as aforesaid shall be ex-
empt from taxation under this section, unless
such legacy or share shall exceed the sum of
one thousand dollars, in which case the excess
only above that sum shall be liable to such
taxation.
That section hundred and twenty-five be
amended by inserting after the words that the tax
Or duty aforesaid, the following: 'sha be due and
payable whenever the party interested in such ega-
cy n dlsrloutVe share or property interest afore-
said shall become entitled to the possession or en-
oyment thereof or to the beneficial interest in the
profits accruing therefrOm, and the same" and by
inserting alter the words United States'' in the
first sentence OF said section the words And every
administrator executor. trustee having in Charge
or trust any legacy or distribuve share as afoie-
said shall give notice thereofin writing the asses
or assistant assessor of the district where the
deceased grantor or bargainer last resided. within
thirty days alter he shall have taken charge of such
yrust; and by inserting after the words shall make
out such lists and valuation as in other cases of
lect and refusal and shall assess the duty thereon
the words And in case of wifu neglect refusal
Jr lase statement by such executor. administrator
or trustee, aforesaid he shall be liable TO nenal
ty OF not exceeding one thousand dollars, to be re-
covered with costs ofsuit." ANY tax paid under the
provisions OF sections hundred and twenty fonr
and one hundred and twenty five shall be deducted
from me particular legacy or distributive share on
account OF winch the same is charged.
That section one hundred and thrty-seyen he
amended by inserting after the words imposed by
his act fhe words 'shall be assessed in the cot