Barton County democrat. [volume] (Great Bend, Kan.) 1885-1915, 1894-01-25
TAXING INCOMES.
A Bill to That Effect Is Agreed
Upon.
All Incomes Over 3f.en0 to BE Taxed
Summary of the Proposed New Law
-Peckham for Associate
Justice.
Income Tax.

Income Tax.
WASHINGTON, Jan. 23.-The income
tax bill. as approved by the democratic
members of the ways and means COM
mittee, was laid before the full com
mittee at Yesterdays meeting. 1t was
read in p irt but the COMMITTEES ad-
journed before the reading was
finished.
The bill provides tax of per cent
upon all incomes of citizens of the
United States, either at home or abroad.
from any kind of property. rents, in
terest. dividends or. salaries. on all
amounts over and above 81. 900. The
bill goes into effect January 1, 1895.
In estimating incomes there shall be
included notes. bon.is and other securi-
ties except such United States bonds as
are exempt from federal taxation. The
tax is laid on profits realized within
the year from sales of real estate pur-
chased within the year or within two
years previous to the year for which
the income is estimate! J; also on
sales of live stock and farm
products generally where grown
upon ones own estate; on all
incomes derived from any source what
ever and the share of any person of the
por ted or partnership, who would be
entitled to the same if divided. whether
/ divided or otherwise, except the in
comes received from corporal tions whose
officers as required by law. withhold
certain percentum of the dividends and
pay the same to the officer authorized
to receive it.
In addition to the 81 900 exemption,
iral1 aofi 80 -,
paid within the year shall be deducted
from the person who actually paid
them. also losses sustained during the
year from fires. shipwreck and other
| causes not covered by insurance and
compensated for and worthless debts,
but excluding estimated depreciation
of value and losses on sales of real
estate.
No deduction shall be made for i'm
provements which may increase the
value of the property or estate Only
| one deduction of $1,000 shall be made
from the aggregate value of any one
family.
Every person having an income of
more than 800 shall make a return
to the deputy collector of the district
in which he resides OF the account of
HIS lucOu1tt. OuU DSTSOuS having l0SS
than $500 year shall net make such
a report
These returns shall be made on oath,
and the deputy collector may increase
| the amount of any list, or return it if
he has reason to believe that it has
been understated. As a penalty for
refusing to make the list the deputy
collector may make up such LIST ac-
cording to the best If rmation obtain
able, and add SO per ce t. to the
amount In cases where a fraudulent
| list has been rendere |, a penalty of 100
| per cent. shall be added.
Peckham Named.
WASHINGTON. Jan. 23.-The president
has sent the nom nation to the senate
| of Wheeler II. Pecl1ham, Of New York
! to be associate justice of the supreme
| court of the United States Mr.. Peck
! ham was delegate to the famous
''anti-snapper" co vention.
Until 1890 Mr.. Peckham devoted him
self entirely to his profession, but in
the fall of 1890 he was made the chair
man of an independent organization of
citizens, designed to secure reform in
| municipal administration. The effort
was not a success, but he remained at
| the head of the organization for some
| time afterward. He is about SO years
| old, is social in disposition and has a