The Wilmington daily Republican. (Wilmington, Del.) 1890-1902, 1894-01-19
NEW INCOME TAX BILL.
Now Included as 9 Part Of the In.
tsrnal Revenue Measure.
PROVISIONS FOR ENFORCING IT

Should II Become Law All vioiators WIN
be Punished rs Would Thieves Of .
Lower Degrss-Big bids for the New
Issue Of Bonds.
WASHINGTON, Jan. 1.-the full text Of
the internal revenue bill, including the
income tax bill, has been agreed upon by
the Democrats Of the ways and means
committee. As yet details of the income
tax, an finally agreed upon. have not been
made public. The Associated Press is
able, however. to give a complete sum
mary Of the essential features of the tax
as Il will be submitted to the house.
The bill provides that the income tax is
to go into effect Jan. /. 1895 end that the
FIRST collection on incomes is to be made
en- ] uly /, 1895. All classes of incomes are
included In the measure and the uniform
rate Of per cent tax on incomes over
q. 600 Is hxed.
The most important detail of the bill Is
the method provided for the levy and col
lection of taxes. 1t is made obligatory on
all persons receiving individual incomes
Of over %, 500 to make return to the local
collector of internal revenue. These re
turns are gone over by the revenue collec-
tor, and taxable list Is made up of those
whose incomes exceed 1900. No tax Ia
levied on those making return Of above
% 500 and under q Geo. but the committee
deemed 1t expedient TO leave this margin
of $500 below the exemption point in ordei
that the returns might be sure to show
| all who are subject to the tax.
In case a person having an income o.
over o., 500 fails to make a return 1t be
comes the duty Of the revenue assessor tt
make inquiry as to the amount of the per
sons income. If this examination dis
closes that the income Is above 81, 900 tn,
income is subjected to twice the ordinary
tax under the law, and the party failing
| to make his return is deemed guilty of
terminal offense and is made subject Il
fine and imprisonment.
\ Provision 10 also made by which no in
formation can be made public as to tn,
details of the income reported by citizens
\ Any public or private person who di
!, vulges any part of this information con
corning incomes Is made subject to crimi
nal prosecution, with heavy fine an,
! penalty.
Particular provision is made for TIL
collection Of the income tax due on sal
aries, not only official salaries, but tn
salaries of individuals received from
business firms, corporations, etc. The in
dividual receiving the salary does not pa,
the tax, but It is made the duty of ever,
government, state, county and municipa
disbursing officer To retain 2 per cent. o
all salaries over the taxable amount
This Q per cent. is to be taken out of tn
salaries in bulk at the last payment o
salary for the year and not at the end o
each week or month.
Thetax upon corporation includes ever
phase of corporate stock. This tax is gen
Il eral, and is without the a, 600 exemption
allowed to individual incomes. 1t is pre-
vided that in collecting the tax on corpol
ate stock the corporation shall pay tn
4 tax and deduct the amount from tn
dividends Of the stockholders. Severe per
alties are provided for failure to make tn
proper reduction from the dividends @
the stockholders or for failure to max
the return to the revenue collector.
4 The entire business of the levying an
collecting of the tax is placed in charg
' of deputy commissioner of internal rev,
lnue