The weekly register. [volume] (Point Pleasant, Va. [W. Va.]) 1862-1909, 1870-10-06

collectable, interest upon notes, bonds, or
other securities Of The United States; and
the amount Of ell premium on gold aud
coupons; the gains, profits, and income Of
any business, profession, trade, employ
ment, Office, or vocation; including any
amount received as salary or pay for SER
vices ID the. civil, military, naval, or
other service Of the United States, or as
senator, representative or delegate in Con-
gress; except that portion thereof from
which, under authority Of acts of Congress
previous hereto, tax of FIVE per centum
Shall have been withheld; the share of
any person, Of the gains and profits, wheth-
divided or not Of all companies or part
nerships, but not including the amount
received from any corporations whose Off
Gers, as authorized by law. withhold any
pay as taxes aper csntuh Of the dividends
made, and of interest or coupons paid by
such corporations; profits realized within
the years from sales Of real estate pur-
chased within two years previous to7the
year for which income is estimated; the
amount Of sales oflive stock, sugar, wool,
butter, cheese, pork, beef, mutton, or other
meats, hay and grain, fruits, vegetables,
or other productions, being the growth or
produce Of tho estate Of such person, but
not including any part thereof consumed
directly by the family; and other, gains,
profits, and income drawn from any source
whatever ,but not including tho rental
valueof the homestead used or occupied
byany person, or by his family
SEC. 8.SAm1 Jc It further enacted, That
military or naval pensions allowed to any
pc rson under the laws of the United States,
and the sum oftwo thousand dollars Of the
gains, profits, and income Of any person.
shall be exempt from said income taxiin
the manner hereinafter provided. Only
one deduction of two thousand dollars
shall be made from the 'aggregate income
of all Che members Of any family COM
posed Of Que or both parents aud one or
more minor childrenS or of husband and
wife; but when wife has by law sepa-
rate income, beyond the control Of her
husband, and is living separate and apart
from him, such deduction shall then be
made from her income, gains, and profits;
aud guardians and trustees shall be allow
cd to make the deduction in favor of each
ward or beneficiary except that in case OF
two or more wards 1'or benefciaries CONF
prised in one family having joint property
interest, only one deduction shall be made.
N leir .filior For tho pafrnaa of ailpfl-'
ing said deduction from Che income OF any
religious or social community holding all
.tbeir,property and The income thesfrom
jointly aud in common, each five OF the
persons composing such society. aSd apy
remaining fractional number of such per-
sons less than five over suck groups olive.
shall be held to constitute family. and q
deduction Of two'thcusand dollars shall be
allowed for each of said families. Any
taxes on the incomes, gains, and profits
Of such societies, now duo and unpaid,
shall be assessed and collected according to
this provision, except that the deduction
shall be only one thousand dollars for any
year prior to eighteen hundred and sew
enty.
SEC. 8. And DC Il further enacted, That
in addition to the exemptions provided in
the preceding section, there shall be de.
Quoted from the gains, profits, and income
of any person all national, State, county,
and municipal taxes paid by him within
Che year, whether such person be owner,
tenant, or mortgagcr; all his losses actu-
ally sustained during the year arising from
fires, floods, shipwreck, or incurred in
trade, and debts ascertaiued to be worth
less, but excluding all estimated deprecia-
ton ofsyalues; the amount Of interest paid
during tho year, and the amount paid for
rent or labor to cultivate land, or to con-
duct1any other business from which income
is.derived; the amount, paid for the rent Of
the house or premises occupied as resi-
denCe for himself OF his family, and the
amount paid out for usual and ordinary
repairs. No deduction shall be made from
any amount paid out for new buildings,
permanent improvements, or betterments
made TO increase the value ofany property
or estate,
SEC. 10. And 6e.it further enacted. That
the tax hereinbefore provided shall be as
sessed upon, the gains. profits. and income
for the year ending on the thirty-arst day
offD next proceeding the time 5tor
ievying and collecting said tax, and shall
be levied on the first day Of March, elgh-
teen, hundred and seventy.ono and eigh-
teen hundred and seyenty-two, and be'due
and payable Cd or before the thirtieth day
Of April in each Of said years. And in
addition to any sum annually due aud IN,
paid after the thiriietb day of April, and
for ten days after noticeand demand there,
CT II. = jtn.to. ,l,sna ehhil. hn levied