The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1878-04-22

or ether service of the United States, or
as Senator, Representative or delegate in
( ir Congress the share OF any person Of
the gains and profits, whether divided or
not, of all companies or partnerships, but
not including the amount received from
any corporations whose officers, as su-
thsrized by law, withhold and pay as
taxes percentum of dividends made,
and of interest or coupons
paid by such corporations; profits
above the costs and expenses, aC-
tuslly received in cash or cost value,
realized within the year from sales OF
real estate purchased within two years
previous to the year for which the income
is estimated, the amount OF sales Of live
stock, sugar wool, butter, cheese, pork,
beet. mutton or other meats, hay aad
grain, fruits, vegetables or other pro-
| ductions being the growth or product Of
the estate of such person, but not lnclud-
lDg any part thereof consumed directly
BY the family, and all other gains, profits
and income drawn by any source what
ever, but not including the rental valu9
Of the homestead owned and occupied by
any person, or by his family; provided no
gift, devise, nor property acquired by in
neritance, distribution or succession shall
be accounted as gsins, profits or income
under this sectioD military or
navel pensions allowed to any per-
son under the laws of the
United States and the sum of two thou
tand dollars of gains, profits and income.
Any person shall be exempt from ssid
income tax in the manner hereafter pro-
yded. after the de eiuctiOn OF $4,000 shall
be made from the aggregate income of
all members OF any family composed OF
one or both parents, and one or more
minor children, or of husband and wife.
But where the wife has, by law, sperate
income beyond the control OF her husbar d
and is living separt and apart from him,
such deductions shall then be made from
hec IL come, gains and profits, and guar
diu1s and trustees shall be allowed TO
make q deduction in favor OF each ward
or beneficiary, except that in case OF two
or more wards or beneEc,aries comprised
in ore family, having joint property ana
interest, only one deduction shall be
made in their favor for the
purpose Of allowing said deduction
from the income of any relig.
ious or social community holding all their
property and income theretrOm, jointly
and in common, persons composing such
society, and any remain = fractional num-
Der ol such persons less than five groups
e five shsll constitute family, aud de-
ductions Cf - 900 shall be allowed for
esch e said families In addition %
these exemptions there shall be deducted
from the gains, profits and income from
any persons insurance Of life and prop
elty, and all national, State, county and
municipal tax paid by him within n
year WHISTLER such person be owner, ten
ant or MORTGAGE, all his losses actually
sust 4ined during the year srlsirg tcom
| fires, floods. shIpwrecks or incurred in
| trade, and debts sscertained TO be WORTH
| less, but excluding all estimated depre-
| clEt on of values, amount of the Interest
| PAID during the year, and the amount
| paid for rent or labor. TO cultivate land,
! or to conduct any other business
| from which income is derived; the
amount psId for the rent of the house or
premises occupied rs residence for him
self or his family, and the amount paid
Out-iJr the usual and ordinary repairs;
no deduction shall be made for any
amount paid out for new buildings, per
manent improvements, or beLterments,
made to increase the value Of any prop
erty or estate, salaries Of the President Ct
the United States, and Of al Judges Of
the United States, and Of all officers, ex-
ecutlyc, judicial and legislative, Of any
State in the Union, shall also be de-
Quoted from the gains, profits and il
come of any person and be exempt from
said tax: and consuls OF foreign govern
ments, who are not citizens Of the United
States, shall be exempt from any income
tax imposed by this act which may be
derived from their official emolu-
ments, or from property in tor
elgn countries provided that the
governments which such consuls
NAV represent shall extend similar
exemption to consuls Of the United
State: that the tax herein before provided
shall be assessed upon the gains, profits
and income for the haltye ending De-
cember, 1878, and of such succeeding
year as shall be levied in the year 1872
and each succeeding year, as herein pro-
vided, and shall, after assessment, be due
and payable upon notice and demand
made a9 provided by section S,lS4 OF the
Revised Statutes. If any person signing
and making return in regard to said tax
shall Intentionally or trsUdulently sign
and make false return, he may beindicted
and convicted in any court OF the United
States having local jurisdiction, and shall
upon conviction be subject to line OF
not less than $1,000 nor more thru So.
600. and be imprisoned not less than one
wear nor more than ten years, or both, at
the discretion of the court. There shall
be levied and collected Tor and du-lng
1873 and annually thereafter "A tax OF
per centum on the amount OF all
interest or coupons paid on Oonds
or other evidences of debt Issued
and payable in one or more years
after date by any corporation IN this sec
ton hereinafter enumerated, and an
amount Of al. dividends OF earnings, IN
comes or Gains hereafter declared 10y any
bank. trust company, savings institution,
insurance company. railroad company,
canal company, turnpike company, cana.
navigation company and sIacNwater
company, whenever and wherever the
same shsll be payable, and to whatsoever
person the same may be due, including
nox-resldents, whether citizens or aliens,
and all undivided profits of any such
corporation which have accrued and been
earned and added to any surplus. contin-
gent or other fund; and every such cor
pcraion having PAID the tax as atore-
said. is hereby authorized to deduct and
withhold from any payment on account
,r interest coupons and dividends an
amount equal to tax Of two per centum
on the same, and pay to the United States,
IS provided by law. Of the amount
-. me tax so deducted from the interest
coupons and dividends stterwsrd paid
shall discharge such corporation from any
. a - F.F