Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1894-01-23
THE BILL
IT'S LAID BEFORE THE FULL COMMIT
TEE ON WAYS AND MEANS.
How Returns Arc to Re Made-The Ex-
emptions-The Matter Of APP
peals-Playing Cards.

come-tax bill. as approved by the Demo-
cratic members Of the Ways and Means
Committee, was laid before the full COM
mlttee at this mornings meeting II was
read in part. but the committee adjourn
ed before the reading was finished.
The bill provides a tax Of per cent.
upon all incomes OF citizens OF the United
States either at home or abroad, from any
kind of property rents. interest, diVi-
dends, or salaries on all amounts over
and above $4,000. The bill goes Into effect
January !, 1885.
In estimating incomes there shall be In
cluded notes bonds. and other securities
except such United States bonds as are
exempt from Federal taxation. Inc TAX
is laid on profits realized within the year
from sales OF real estate purchased within
the year or within two years previous To
the year for which the income Is esti-
mated; also. on sales of live stock and OF
farm products generally where grown
upon ones own estate; all other incomes
derived from any source whatever anu
the share of any person OF the pronts OF
companies. whether incorporated or part
nership, who would be entitled TO the
same If divided, whether divided or other-
wise, except the incomes received from
corporations whose officers as required
by law. withhold a per centum OF the
| dividends and pay the same to the oiiicer
authorized to receive 1t.
EXEMPTIONS.
In addition to the 1900 exemption, all
national State. and county taxes palu
within the year shall be deducted from tne
profits OF the person who mas actuaiiy
Maid them; also, losses sustained during
causes not covered by insurance and COM
pensated for, and worthless debts, but
excluding estimated depreciation OF value
and losses on sales of real estate. NO de-
duction shall he made for improvements
| which may increase the value OF the
! property or estate. Only one deduction
of 5000 shall be made from the agsre-
| gate income OF the members OF any
family.
Every person having an Income OF more
| than $500 shall make return 10 the'
deputy collector of the district III "hie"
ne resides OF the amount of his income
but nersons having less than 1850 year
| shall not make such report. These re-
| turns shall be made on oath, and inc
! denutv collector may increase the amount
| of any list or return II II he has reason
| to believe that it has been understateu'
! Az n penalty for refusing to make hs.'
the deputy collector may make up such
list according to the best Information oo-
tainable and add 50 per cent. TO 'he
amount. In cases where iraduu'ene
list has been rendered penalty Oh "V
per cent. shall be added.
APPEALS
The bill provides at some length the
! manner in which persons dissatisfied WIN
| the decision of the collector may suoihit
their case to the Commissioner oil lh'er"al
| Revenue. The tax shall be collected on or
80, tho frst day of each July. and an
additional tax of per cent shall be lald
an nayment after that date. ana interest,"
| al the rate of | per cent. month upon
| the amount of the tax
! All persons in the civil. military, naval
| or other service of the United states, ."-
Guiding senator's representatives. anu ueie-
| Gates in Congress, shall pay per cent
| fax upon incomes above A,OD year
| This amount shall be- deducted from tneir
incomes by the disbursing oflcers rhaAiHe
the payment. .,.o,,,e
| The hill provides that when any revenue
officer diyuIges the operations OF manu-
| facturer or producer, or the amount or
! source Of his income he shall be subject
| IN nne and imprisonment: that the deputy
| collector shall make lists OF persons own
! ing property subject 70 tax that II s'ia'i
| he the duty of persons. firms, ana corpora-
| tions made liable to any duty, SPECIAL OF
| other tax and not otherwise PROVIDED Ior'
in case of a special tax on or peiore jury
3lst. annually; in case OF Income tax on OF
before March lst annually. and In other
cases before the tax accrues I'D iurhiS"
the deputy collector coihpIe'e iiS'' VI VI"
| able property.
In case such person fails, but permits
| IN. deputy to make up the return, such
| list may be received upon oath.
| CORPORATIONS.
sectlon II Of the bill relates to corpora
| tiors n requires them TO make return
| before the 10th day Of the month following
| the declaration Of dividends, under oalh'
By the principal officer.
| SECTION 70 REQUIRES the corporation TO
furnish. beginning 1895, on or before inc
! first Monday of blank, each year, a state
ment showing the gross profits. expenses
! exclusive of interests, annuities ana dlVl-
dends. net profit without allowance Tor the
Same. amount paid on account or interest
annuities and dividends, amount pald for
salaries. employees. above and below
5000. A..
Section II leyies taxes upon corporation
dividends. interest coupons and annuities
wherever and whenever payable 10 an
| parties whatsoever. and the corporation
| may deduct or retain all payments made
ON account of such dividends, &c, pro-
portionate share OF the tax so paid.
Section Is provides for the issue OF re-
ceipts by collectors for taxes paid, ana
whenever the payment is made otherwise
than by a corporation, the collector may
give n separate receipt for each tax PAID
bv any debtor on account OF payments to
seoarate creditors In such forms that the
debtor may present them TO his creditors
In eatisfactfon OF their respective demands
N the amount specified In such receipts
Section l6 requires the regulations to be
onnrovel by the Secretary OF the Tred-
sury. and 10 be conspcuously posted be-
fore taking effect.
PLAYING-CARDS.
sectIon 10 provides that after a blank
date in 1891 there shall be a tax of 2
cents pack on playing cards. payable
by adhesive stamps
Section 20 provides for the cancellation
~ these stamps and punishment for their
misuse.
section p requires makers Of playing
cards to register
SECTION % relates to the preparation and
issue Of the stamps
section q provides for the punishment
of counterfeiters OF the same.
Section q provides a punishment Tor the
| nrenaration and sale Of unstamped cards,
with a provision that they may be Sx-
ported without tax.
: Sections 25 and % are penalty clauses
relative to the misuse Of wrappers for
cards.
section q requires the tax on cards TO
he maid by the manufacturer, and declares
the person who offers them for sale
whether foreign or domestic. to be
| manufacturer.
Section % provides for the collections OK
the tax on cards Illegally used.
DISTILLED SPIRITS.
Section % fixes the tax on and after the
second calendar month after the passage
! of the act, on all distilled spirits pro-
duced in the United States on which the
tax Is not paid before tflat day at 81 per
| proof gallon, TO be paid by the possessor
on or before removal from warehouse
within eight years from the date OF
original entry for deposit In any dis
tlllery or bonded warehouse, except In
cases OF withdrawal without payment OF
tax. as now authorized by law.
Section 80 continues existing warehouse
bonds on distilled spirits In full force for
the time named In the bonds. When the
tax Is paid on or after that date. there
shall be added to the present tax OF 20
cent? a sufficient tax to make the total
equal to 81. Bonds may be required for
the additional tax.
Section 81 provides for regauging Of
spirits upon withdrawal, limiting the al
-