The Hancock Jeffersonian. [volume] (Findlay, Ohio) 1857-1870, 1868-02-28

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ton, not counting personal expense:
or charges for labor Of the inventor
If only portion of such right be
sold, he may deduct a proportionate
amount of expenses on the same prin-
ciple. In the case of a person re-
ceiving government salary not
above $1,000, or either made up of
fees, or irregular in amount, or time,
and has thus escaped salary tax, it
should be included with other taxable
income. Where snch salary exceeds
the rate Of $1,000 per annum, the
amount of salary from which the tax
has been deducted may be deducted
from the gross income.
WHERE RETURNS ARE TO BE MADE.
Residents return in the district in
which they reside at the time of ma.
king the same. Persons residing
abroad make returns in the district
in which they last resided.
NON-REsIDENTs AND FORE GNERs.
Citizens of the United States, re-
siding abroad, are subject to tax upon
their entire incomes from all sources
whatever, and the same is true of
foreigners residing in this country.
A like tax must be paid upon the
gains, profits and income of every
business, trade or profession carried
on in the United States by persons
residing without the United States,
and not citizens thereof.
MUST BE RETURNED.
Profits on sale of lease for years or
life is taxable as income from year of
sale. Legatees must return profits
of legacy which has become exclu-
sively theirs by transfer from execu-
tor. The payment of legacy on sue
cession tax on the bequest of an an
nuity does not release the annuitant
from liability to income tax on his
annuity.
Investments are not to be regarded
as expenditures, as in expenses in
farming and gardening for recreation
or adOrnment. Scrip dividends are
to be returned at market value, as in
come interest of United States secu-
rites are taxable for income. Shares
o: the gains of each person in CON-
panies, whether corporations or part
nerships, are TO be included in the
return for income tax.
The above is an abstract of the in
structions of Commissioner Rollins
to the United States Assessors for
the year 1867. 1t will be seen that
it applies chiefly to returns Of income.
Another source Of income is
SPECIAL TAXES OR LICENSES,
Which is not so general subject
of misapprehension. since the num-
Der to whom it applies is much small
er than in the case of income. Busi-
ness men, almost exclusively, are the
subjects of this, and its provisions
are easily comprehended by them
The license year runs from May to
May, and in the intervening time no
licenses can be taken out for a period
shorter than from the time of appii-
cation to the close of the year.
PERSONAL punprprS KSsnnrtoss-
Some of these have been mentioned
above as gifts. Silver watches are
exempt, kept for use. Gold and gilt
watches must be taxed. All silver
or gold in the form of medals, pre-
miums on awards, keepsakes, the
plate of religious societies, are ex-
empt, besides an exemption Of forty
ounces, troy weight, to each tax-pay
er. The tax on gold plate, so cents
per ounce. troy, and that on silver, 5
cents. The following is copy taken
from the forms for returns. showing
a comparison of the avOirdupois and
trOv ounce. from 10 to 600.