The south-western. [volume] (Shreveport, La.) 1852-1870, 1867-03-20


The following is the new income tax which is fixed
at uniform rate, and goes into effect March 1867
The tax incomes for 1866 to be levied the day this
act goes into effect:
Income from gains profits from property, rent. in
terest dividends salaries from any profession trade
or any employment, tax on the amount so derived
over one thousand dollars, of five per cent
And in addition to thousand dollars eSemnt
from income tax all NATIONAL State, county and mum
cipal taxes paid within the year shall be deducted
from the gains, profits income of the person who has
actually paid the same whether such person be cwner
tenant or mortgager; losses actually sustained durinp
the year, arising from fires, shpwrecks or incurred in
trade, and debts ascertaned to be worthless but ex-
Guiding all estimated depreciation of values and losses
within the year sales of real estate purchased two
years previous to the year for which income is estma
ted; the amount actually paid for laboror interest BY
any person who rents lands or hires labor cultivate
land or who conducts any other business from which
income is actually derived the amount paid by anv
person for the rent of the house premises occupied
as residence for himself or his family; the amount
paid out for usual ordinary repairs Provided that
deduction shall be made for any amount paid out
on new buildings, permanent Improvements, better
ments made to the value Of any property or
estate And provided further that only one deduction
of one thousand dollars shall be made from the agere
gate income of all the members of any family com
posed of one both parents and one or more minor
Children or husband and wife; that guardians shall be
allowed to make such deduction in favor of each and
every ward, except that in where two or more
wards are compriscd,in one family, and have joint
property interest, only one deduction shall be made in
their favor and provided further, that in cass here
the salary or other compensation paid to person in
the employment service Of the United States shall
not exceed the rate Of one thousand dollars per annum
or shall be by fees, uncertain irregular in the
amount in the time during which the same shall have
accrued been earned such salary or other compen
saon shall be included in estimating the annual gains
profits or income of the person to whom the same shall
have been paid. In estimating the gains profits and
income of any person, there shall be included all in
come derived from interest upon notes. bonds and 9th
securities of the United States profits realised
within the year, from sales of real estate purchased
within the year or within two years previous to the
year for which income is estimated interest received
or accrued upon all notes, bonds and mortgages or
other forms Of Indebtedness bearing interest," whether
paid or not if good and coliectabe less the interest
which has become due from said person during the
year. the amount of all premium on gold and COUPONS i
the amount of sales of live stock, sugar wool butter
cheese, pork beef, mutton, other meats hay and
gram, or other vegetable other productions being
the growth or produce of the Of such person not
including any part thereof consumed directly by the
family; all other gains, profits and income derived
rom any source whatever, except the rental value of
my homestead used or occupied by any person or BY
us fsmy IN his own right the right of his wife
md the share Of any person Of the gains and profits Of
II companies whether Incorporated or partnership, I
Who would be entitled to the same whether divided or
except the amount of income received from
Institutions or corporations whose officers required
y law, withhold aper centum of the dividends made !