The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1867-04-10
The Income Tax.

come returns for 1866 under the new law.
The reader will see at glance the charac-
ter OF the articles to be returned upon,
and the deductions to be made:
RETURNS OF GROSS INCOME.
l. From the profits in any trade, bust
ness, or vocation from which income is ac-
tually derived. or any interest therein,
wherever carried on.
2. From the payments of debts ina for
mer year considered lost, and which have
not paid previous income tax.
3. From rents.
f. From farming operations-amounto of
live stock sold, amount oiagricultural pro-
ducts sold.
5. From profits realized by sale of real
estate purchased since December 81, 1863.
6. From interest on any bonds or other
evidences of Indebtedness OF and railroad,
canal. turnpike, canal, navigation or slack
water company. or interest Or dividends
on stock, capital, or deposits in any bank,
trust company, savings institution, insu-
rance, railroad, canal, turnpike, canal ma
vigation, or slackwater company.
Z. From dividends of any incorporated
company other than those above mention
ed.
g. From gains and profits ofany incor-
porated company Lot divided.
g. From interest on notes, bonds, or
other securities Of the United States
10. From interest Oh notes, bonds, mort
Cages, or securities other than those emu
merated above.
II. From any salary other than as an Of
ficer or employee Of the United States.
II From any salary orpay as an officer
or employee Of the United States.
ID. From profits on sales Of gold OR
stocks, whenever purchased.
IA. From all sources not above enumer-
rated.
DEDUCTIONS.
1. Exempt by law, 81 900.
2. National, State, county, and munich
pal taxes paid within the year.
3.Losses actually sustained during the
year from fire, shipwreck, or incurred in
trade, and not already deducted in ascer.
tanning profits.
4 Losses On sales Of real estate pur-
chased since December 81, 1863.
5. Amount paid tor hired labor to cult
vate land from which income is derived.
6. Amount paid tor the live stock which
was sold within the year.
Z. Amount actually paid for rent Of
homestead.
8. Amount paid for usual or ordinary
repairs, excluding payments for new build
ings, permanent iulproy ments, or better
| mentS.
.. Interest paid out or falling due with
in the year.
10. Salary or pay as an officer or en-
ployee of the United States from which a
tax has been withheld.
| II. Interest or dividends from corpora
tions enumerated above in paragraph six.
| Taxable income.
| Amount OF tax at Eve per cent.
CARRIAGES, GOLD WATCHES, BILLIARD
TABLES. AND SILVER PLATE.
schedule A-Section 100, Act June 80,
1864, as amended July IL, 1869
TAXABLE PROPERTY.
Carriage, ph@ton, carryali, rockaway, or
other like carriage, and any coach, hack
ney coach omnibus, or four wheel car
riage, the body Of which rests upon springs
Of any description which is kept for use
for hire, OF Tor passengers, and which is
not used exclusively in husbandry or In
the transportation OF merchandise, valued
at exceeding $500, and not exceeding
$500. including harness used Herewith
S.
Carriages of like description valued
above $500, s10.
Gold watches. composed wholly or in
part Of gold or gilt, kept for use, valued
at $l00 or less, 81.
Gold watches, composed wholly or in
part Of gold or gilt, kept for use valued
at above S100 S..
Billiard tables kept for use, and, not
subject to special tax, $40.
" plate ofsilver kept for use, per ounce
troy, so cents.
Or plate ofsilver kept for use, per ounce
troy, exceeding forty ounces, used by ono
family, 50 cents.
DR.. PLuMER ON DEsPoNDENcY.-The
Rev. DIR. Plumer, formerly from Balti
more, but now President Of Columbia
! Is. c. Theological Seminary, ina recent
letter to Southern minister, makes the
following remarks upon dependency
Il am glad to End SO general persuatlon
that We ought not to yield to discourage
ment. Dependency never raised crop
never made scholar, never built up
church. God has not called US to hope
lessness ard misery. Let us hope on
hope to the end. If we are feeble, the
Lord is mighty. If We lack wisdom, lei
us ask God, who giveth literally and VI
braideth not. five are east down, let u.
thank God that we are not destroyed
If we are 'perplexed let us be careful moi
to fall into despair In our case despon
dency is needless, sinful and a great tar
ment."
! Jonah wrote to his father after the whale
FIRST swallowed him, stating that ne hae
found good opening for young mar
lust going into business but afterwards