Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1867-03-27
THE INCOME TAX.
What You Pay and what You
don't Pay For.


Uncls Sans tax collector will soon b
ready to receive deposits on account o
incomes for 1866, when poor rebels, ricl
Radicals AMI the coIored population gen
orally, will have to make their returnl
and pay accordingly. The following il
the form Of making income returns undel
the new law. The reader will see at 4
glance the character of the articles to b.
returned and the deductions made;
RETURNS
l. From the profits in any trade, bust
ness or vocation from which income il
actually derived, or any interest therein
wherever carried on.
2. From the payment Of debts in Z
former year considered lost, and which
have not paid previous income tax.
3. From rents
4. From farming operations-amount
Of live stock sold, amount Of agriculture
products sold.
s. From profits realized by sales o
real estate purchased since December
3lst, 1868.
6. From interest on any bonds Of
other evidences Of Indebtedness Of any
railroad, canal, turnpike, canal nayiga
ton, or slackwater company or interest
or dividends on stock, capital or deposits
in any bank, trust company, savings
institution, insurance, railroad, canal
turnpike, canal navigation or slack
water company.
Z. From dividends on any incorporated
company other than those above men
toned.
8. From gains and profits of any in
corporated company not divided.
g. From interest on notes, bonds oil
other securities of the United States.
TO- From interest on bonds, notes, OIL
mortgages, or securities other than those
enumerated above.
IL. From any salary other than as an
officer or employee of the United States
H. From any salary or pay as an Off
Ger or employe of the United States.
ID From profits on sales of gold OF
stocks, whenever purchased.
ii. From all sales not above enume
rated. Gross income.
DEDUCTIONS
/. Exempt by law, $1,000
2. National, State, county and mum.
cipal taxes paid within the year.
3. Losses actually sustained during
the year, from fire, shipwreck, or incur
red in trade, and not already deducted
in ascertaiaing profits.
4. Losses on sales of real estate pur.
chased since December 81, 1868.
5. Amount paid for hired labor to cul.
tivate land from which income is derived.
6. Amount paid for the live stock
which was sold within the year.
I. Amount actually paid for rent Of
homestead.
8. Amount paid for usual or ordinary
repairs, permanent Improvements OF
belterments, excluding payments for new
buildings.
9. Interest paid out or falling due
within the year.
10. Salary or pay as an officer or en-
ploye of the United States, from which a
tax has been withheld.
IL. Interest or dividends from corpo-
rations enumerated above in paragraph 6.
Taxable income.
Amount of tax at per cent.
CARRIAGES, GOLD WATCHES, BILLIARD TABLES,
GOLD AND SILVER PLATE.
(Schedule A-Section 100. Act June 30, 1884, a,
Amended july 10, 1861
TAXABLE PROPERTY.
Carriage, pheton. carryall, rockaway or
other like carriage, and any coach.
hackney, omnibus, or four-wheeled car
rage, the body Of which rests upon
springs of any description, which is
kept for use, for hire or for passengers,
and which is not used exclusively in
husbapdry or in the transportation Of
merchandise, valued at exceeding $500
and not exceeding $500 including har-
ness used Sc 90
Carriages of like description valued at
above III w
Gold watches. composed wholly or in part
Of gold or gilt, kept for use. valued at
$OO or w
Gold watches. composed wholly or in part
of gold or gilt, kept for use, valued Mt
above -...............-.""...".... 2 %
jet to special 800 10 90
Or. plate Of gold, kept for use, per ounce
troy 0U
Or. plate of silver. kept for use, per ounce
troy, exceeding forty ounces, used by
one %