Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1867-04-18
sutermal &erenae.
THE NEW TAX LAW.

The amended Internal Revenue Law is now in
operation, and the following instructions to the
assessors, issued by Commissioner Rollins, will
serve as useful guides to taxpayers:
TREASURY DEPARTMENT,
- GS-SEo OF INTERNAL REyENEE, -
WASHINGTON, March 9, 1867.
1t is provided by the act of March 2, 1867, that
all acts in relation to the assessment return, COL
lection and payment of the income tax, special tax
and other annual taxes heretofore by law required
to be performed in the month of May, shall here
after be performed in the corresponding days In
the month of March in each year. all acts required
to be performed in the month Of June in relation
to the collection return and payment OF said taxes
shall hereafter be performed on the corresponding
days of the month Of April Of each year;
from the first day of May, or from the time of
commencing the business subject to tax, to the
first day of May following, although the time Of
assessment is changed as above stated.
It is also provided that the taxes on income
for the year 1866 shall be levied on the day this act
takes effect"
The following instructions should be observed in
the assessment of the annual taxes Of 1867. They
have been prepared and printed to answer the
questions which have been most frequently pre-
sented by revenue officers in their letters to the
commissioner.
Particular attention is directed to the modifca-
ton of the rules observed in the last annual
ment. :,
Assessors should instruct their assistants to call
personally upon those who have not returned their
income as required by law. IF any person is not
at home, the notice on the back of form twenty
four should be filed out, and the blank left
This being done, it becomes the duty OF the tax
payer to seek the assistant assessor and deliver
his return.
E. A. ROLLINS, Commissioner
INCOME.
!. The farmers profits from sales OF live stock
are to be found by deducting from the gross re-
ceipts for animals sold, the purchase money paid
for the same.
2. No deduction can be made by the farmer for
the value of services rendered by his minor child
ren whether he actually pays for such services or
not If his adult children work for him and re-
ceive compensation for their labor they are to be
regarded as other hired laborers in determining his
income.
g. Money paid for labor, except such as is used
or employed in domestic service, or in the produc-
ton of articles consumed in the family Of the pro-
ducer, may be deducted.
4. No deduction can be allowed in any case for
the cost of unproductive labor. If house servants
are employed portion Of their time in productive
labor such as the making Of butter and cheese to1
sale, proportionate amount OF the wages paid
them may be deducted.
S. Expenses for ditching and clearing new land
are plainly expenses for permanent improvements
and not deductable.
6. The whole amount expended for fertilizers
applied during the year to the farmers lands may
be deducted, but no deduction is allowed for ferti
izers produced on the farm. The cost OF seed pur-
chased for sowing or planting may be deducted.
7. Farmers will not be required to make return
of produce consumed in their own immediate taml'
lies.
s. Ifa person sells timber standing, the profits
are to be ascertaned by estimating the value OF the
land after the removal of the timber, ard adding
thereto the amount received for the timber, and
from the sum thus obtained deducting the estima-
ted value of the land on the first day of January,
1862, Or on the day of purchase ifpurchased since
that date.
9. A farmer should make return of all his pro-
duce sold within the year, but mere executory
contract for sale is not sale; delivery, either
actual or constructive, is essential The criterion
by which to judge whether sale is complete. or
not is to determine whether the vendor still retains
in that character right over the property the
property were lost or destroyed, upon which OF
the parties, in the absence of any other relation
between them than that of the vendor and vendee,
would the loss fall
10. Taxpayers frequently claim deductions tor
losses from depreciation in the value of stocks or
other property of like nature. No deduction can
in any case be allowed for depreciation Of value OF
such property until it is actually disposed Of and
loss realized.
II. Costs of suits and other legal proceedings
arising from ordinary business are to be treated as
expenses of such business, and may be deducted
from the gross profits thereof
II. Where physicians are obliged to keep, a
horse for the transaction of business they may de-
duct so much of the expense so incurred as is fair