The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1867-03-08
RATE OF SUBSCRIPTIONS.
RATES OF ADVERTISING.
The NeWIneome m Law,

The following is the new income tax,
which Is fixed alta uniform rate, and
goes into effect March l, 1867. The tax
on incomes for 1866 is to be levied the
day this act goes into effect:
Income from gains, profits from
property, rent, interest, dividends, or
salaries from any profession, trade, or
any employment, a tax on the amount
SO derived over one thousand dollars,
of per cent. 80 - -@'i -,-'a5 ~ :
And in addition to enc thousand dol
lars exempt from income tax, all ma
tional, State, county and municipal
taxes paid within the year shall be de-
Quoted from the gains, profits, or in
come of the person who has actually
I;paidthe same, whether such person be
owner. tenant, or mortgagor; losses
actually sustained during the year
arising from fires, shipwreck, or in
CURED In trade, and debts aseertaiIed
TO be worthless, but excluding all esti-
mated depreciation of values and losses
within the year on sales of real estate
purchased two years previous to the
year for which income is estimated; the
amount actually paid for labor or in
terest by any person who rents lands
or hires labor to cultivate land, or who
conducts any other business from which
income Is actually derived; the amount
actually paid by any person for the
rent OF the house or premises occupied
as a residence for himself: Progided,
That no deduction shall be made
for any amount paid out for
new buildings, permanent i'm
provements, or betterments, made
to increase the value of any property
or estate: And PROVIDED further, That
only one deduction of one thousand
dollars shall be made from the sggre-
gate income of all the members of any
family, composed of one or both par
ents and one or more minor children,
or husband and wife; that guardians
shall be allowed to make such deduc-
tiontn favor of each and every ward,
except that,i in case where two or more
wards are comprised in one family,
and have Joint property interest, only
one deduction shall be made in their
favor: aud pToUided further, That in
cases where the salary or other compen-
sauon paid to any person in the en-
ployment or service of the United States
shall not exceed the rate of one thou
sand dollars per annum, or shall be by
fees, or uncertain or irregular in the
amount or in the time during which
the same shall have accrued or been
earned, such salary or other comDensa-
ton shall be included in estimating
the annual gains, profits, or Income of
the person to whom the same shall have
pronts, and income of any person, there
shall be included all income derived
from interest upon notes, bonds, and
other securities of the United States;
profits realized within the year from
sales of real estate purchased within
the year or within two years previous
to the year for which income is esti-l
mated; interest received or accrued
upon all notes, bonds, and mortgages,
or other forms OF Indebtedness bearing
interest, whether paid or not, if good
and c0ilectable, less interest which has
become due from said person during
the year; the amount of all premiums
on gold and coupons; the amount of
sales on live stock, sugar, wool, butter,
cheese, pork, beef, mutton, or other
meats, hay and grain, or other vegeta-
BILE or other productions, being the
growth or produce of the estate of such
persons, not including any part thereof
consumed directly by the family; all
other gains, profits, and income deriv-
ed from any source whatever;exceptt the
rental value of any homestead used or
occupied by any person or by his .fami-
lily in his own right or in the right OF
his wife; and the share OF any person
of the gains and profits of all compa-
nies, whether incorporated or partner
ship, who would be entitled to the same
If divided, whether divided or other
wise, except the amount of income re-
ceived from institutions or corpora
tions whose officers, as required by law,
withhold a per centum of the dividends
made by such institutions, and pay the
same to officers authorized to receive
the same; and except that portion of
the salary or pay received for services
in the civil, military, naval or other
service of the United States, including
Senators, Representatives, and Dele
gates in Congress, from which the tax
has been deducted.