Mexico weekly ledger. (Mexico, Mo.) 1855-1956, 1894-01-25

W AsHiSGTON, Jan. 1S.-Ihe ways
and means committee concluded its
work yesterday afternoon on the
income taxation bill and it will
probably be made public this after
noon or to- morrow.
The measure, which is an elab-
oration of the bill of Mr.. Hall of
Missouri, provides for an income
tax to go into effect January 1 next
with the first collections July l,
1895. A uniform rate of 2 per
cent on all classes of incomes of
over 81 900 per year is fixed. 1t is
made obligatory on all persons re-
ceiving over s., 500 incomes to make
returns to the local internal revenue
collector. These lists are to be gone
over by the collector and tax list
made up of all those whose incomes
exceed 81 900. In case a person
supposed to have an income of over
So 500 does not make a return to
the collector is required to make in
quiry and if he finds that the in
come is above $4,000, it is to be
subjected to twice the ordinary
tax and the party failing to make
his return is deemed guilty of a
criminal offense and is made subject
to fine and Imprisonment.
The main purpose in framing the
above provision has been to avoid
an inquisitorial operation of the law.
The committee believes it will do
away with the necessity OF having
assessors prying into the private
business of people unless the latter
have a taxable income and try to
evade the law. 1t is estimated that
not more than $1,000 persons viii
be subject to this tax, so that great
majority of citizens will not have to
make returns.
SECRECY AND OTHER PROVISIONS.
Provision is also made by which
no information can be made public
as to the details of the income re-
ported by citizens. If such detailsbe-
come public it might iniure the
credit of firm or individual. For
that reason any public or private
person who divulges any part OF
this information concerning incomes
is made subject to criminal prosecu-
ton, with heavy fine and penalty.
Particular provision is made fol-
the collection of the income taxes
due on salaries, not only of officials,
but Of individuals received from
fbusiness firms, corporations, etc.
The individual receiving the salary
does not pay the tax, but it is made
the duty of every government, state,
county and municipal disbursine
officer to retain 2 per cent of all sal
aries over the taxable amount. This
2 per cent is to be taken out OF the
salaries for the year.
The tax upon corporations includes
every phase of corporate stock. Thii
is general and is without the 81 ,00t
exemption allotted to individual in
comes. 1t is provided that, includ
ing the tax on corporate stock, ths
corporation shall pay the tax ant
deduct the amount from the divi
dends of the stakeholder. 1t is mad
the duty of each corporation to TAX
2 per cent of each annual corporal
income from the amount set apaI
| tor the stockholder, and pay tn
total to the internal revenue collect
or. Severe penalties are provide
for failure to make the proper re
duction from the dividends of stock
holders or for failure to make th
return to the revenue collector.
The business of the levying an
collecting of the tax is placed
charge of a deputy commissioner {
: internal revenue. The different re,
lenue districts of the county an
country are also provided with DEF
uty collectors who will especial
manage the collection of the incom
8 tax.