Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1878-04-22
Amended Revenue Bill.

<1UscUucu leCenNe b1(s
WASHINGTON, April 2O.-The following are
the principal features of the internal revenue
bill ordered to-day by the committee on ways
and means, to be reported to the House:
BE 1t enacted, etc., That on and after the pas
sage of this act there shall be levied and col
lected upon all snuff manufactured of tobacco,
or any substitute for tobacco, ground, dry,
damp, picked, scented or otherwise of all de-
scriptions, when prepared for use and upon all
chewing and smoking tobacco fine cut, caven-
dish, plug or twist, cut or granulated of every
or reduced into condition to be con-
stunned, or in any way or manner other
than the ordinary mode Of drying and curing,
prepared for sale or consumption, even if pre-
pared without the use of any machine or in
strument, and without being pressed or sweet
scraps, clippings, cuttings and sweepings of to-
bacco, a tax Of sixteen cents per pound.
On cigars of all descriptions which shall be
manufactured and Sold or removed for con-
sumption or use of leaf tobacco, or any substi-
tute therefor, there shall be tax Of S. per
thousand.
On cigarettes weighing not more than three
and half pounds per thousand, $l.25 per
thousand.
On cigarettes weighing more than three and
a half pounds per thousand, SIS per thousand.
Sec. 2. There shall be levied and collected
for 1875 and annually thereafter, upon the
gains, profits and income of every person resid-
ing in the United States, and Of every citizen
temporarily residing abroad derived from any
source whatever, whether within or without the
United States, except as hereafter provided !:
the gains, profits and income derived within the
United States, by person residing without and
not u citizen thereof, or from the rents of real
estate within the United States owned by a res
ident without and not citizen thereof, the
following tax, to-wit: two percentum.
In estimating the gains, profits and incomes
| there shall be included all income derived from
every kind of property. rents, interest received
or accrued upon all notes, bonds aud mortgages
or other forms of Indebtedness bearing inter
est whether paid or not, if good and collecta-
BILE, interest upon notes, bonds OF other securi-
ties of the United States; the amount of all
premium on gold and coupons; the gains profits
and income of any business profession, trade,
employment, Office or avocation, including any
in the civil, military, naval or other service of
the United States, or as senator, representative
| or delegate in Congress.
The share of any person of the gains and
profits, whether divided or not, of all com
panies or partnerships, but not including the
officers, as authorized by law, withhold and pay
as taxes per centum Of dividends made and
of interest on coupons paid by such corpora.
tions.
Profits above costa and expenses actually re-
ceived in cash or cash 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, beef, mutton, OF
other meats, hay and gram. fruits, vegetable OF
other productions, being the growth or product
OF the estate of such person, but not including
any part thereof consumed by the family, anc
| all other gains, profits and income drawn from
any source whatever, but not including tn,
rental value of the homestead owned and useC
or occupied by any person, or by his family
provided no gift, device or property acquired
by inheritance, distribution or succession shall
be accounted as gains, profits or income unde
this section,
The military or naval pensions allowed to an,
person under laws of United States and the sun
of $4,000 of the gains, profits and income O
any person who shall be exempt from said in
Only one deduction of $4,000 shall be mad
from the aggregate income of all members o
any family composed Of one or both parents
i and one or more minor children, or Of the hus
band and wife; but where the wife has by la,
a separate income beyond the contro
Of her husband, and is living separat
shall then be made from he
income, gains and profits, and guardians an
trustees shall be allowed to make deduction
in favor of each ward, or beneficiary, excep
! that in case of two or more wards or benefci
aries comprised in one family having join
property interest, only one deduction shall b
made in their favor.
For the purpose of allowing said deductio,
J from the income Of any religious or social com
munity holding all their property and incom
therefrom, jointly and in common, each five o
the persons comprising such society, and an
remaining fractional number of such persons
; less than five over such groups of five, shall b
! held to constitute family, and deduction O
! $4,000 shall be allowed for each of said fami
lies.
! In addition to those exemptions there shall b
deducted frsm the gains, profits and reve
} nues of any personal premiums or insurance 3
life OF property, and all national, State cour
ty and municipal tax paid by him within tn
year, whether such person be the owner. tenan
or m0rtpaaee all hia lossas ACTUALLY anat ain