The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1897-03-03
TO TAX INCOMES.
FULL TEXT OF THE BILL AS IT
PASSED.

4 Graduated Tax to be Levied on all 10.
comes of Twelve Euudred Dollars and
ovsr fo- the B >nef. of the State.
COLUMBIA, Feb. 26.-The following
IS the fuIl text of the Income Tax Bill
as it passed the Bouse yesterday:
Section l. That from and after the
first day OF January, 1898, there shall
be annually assessed, levied and col
lected upon the gains, gross profits
and income received during the pre-
ceding calendar year by every citi-
zen CT this State, whether such gains,
profits or income be derived from any
kind Of property, rents, interest, divl-
dencs or salaries, or from any profes-
sion, trade, employment Or vocation
carried on in this State, or from any 9th
er source whatever, a tax of one percen-
Lum 50 derived over and above $1,000
and up to $1,000, and one-half per
centum on S., 900 and over up to ST.
800, 2 percentum, on 81, 500 and over
up to SO, 600, p percentum on S10,-
900 and over up to $15, 900 3 per CEN
fum on SIS, 900 and over, and like
lax shall be assessed, levied and col
lec:ed annually upon the gains, profits
and income from all property owned
and every business trade or profession
carried on IN this State by persons re-
siding without this State, excepting
such corporations IS are hereinafter
excepted: Provided, that in estimat-
ing the gains, profits and income
there shall not be included interest
upon such bonds and securities Of
this State or Of the United State the
principal and interest of which are By
tne law OF this issue exempt from tax
alton.
Sectiou2. That in computing in
come the necessary expenses actually
incurred 10 carrying on any business
Or profession, not including remuner.
alton to the taxpayer for personal
supervision or the support or main
tenance of his or her family, shall be
deducted from the gross income or
revenue, and the word Income" as
used n this Act shall be deemed and
ia ken to mean gross profits" Pro
vided, that no deduction shall be
made or allowed for any amount paid
out or contracted for permanent i'm
proVements or betterments, made to
increase the value Of any property or
estate, or for the increase of capital
stock or assets.
Section 3. That the words ''citizsn"
and "person," as used in this Act.
shall be deemed to include all natural
persons, all copartners and all members
Of any N corporated association, and
to exclude, except as hereinafter in
cluded, al corporations duly charter
cd by the. laws of the United States
and OF thi: OR any other State.
Section I. Thag the TAX herein pro-
vlded for shall be assessed, levied and !.
collectedin the same manner, at the
same time, IS other taxes, and by the
same county officials as are now
charged with the assessment, levy and
collection Of State and county taxes.
Section 5. That all persons liable
for the payment Of any of the tax
herein provided for shall at the times
now or hereinafter provided by law
for the making of returns of personal
property, make under oath a full and
complete list or return in such form
and manner as may be directed by the
Comptroller General, to the auditor
OF the county in which they reside, or
IN case non-resi6ents, of the county or
counties wherein said gains, profits or
income arises, of the amount of their
income, gains and profits as aforesaid,
and the property or investment, II
any, upon which the same are comput'
ed, and SUCH other particulars as may
be required by the Comptroller Gener-
al. AL persons, whether natural or
corporations created by charter, acting
as guardians, trustees, executors, ad-
ministrators, agents, receivers, or IN
any other fduciary capacity. shall
make and render list or return as
afore said to the auditor OF the county
IN which such persons or corporations
acting in afduciary capacity resides or
do business, OF the income, gains and
profits Of any minor or person for
whom they act.
Section 3. That any person or cor
poration failing or refusing to make
the list or return required by this Act,
or rendering wilfully false or frau
dulent list or return, shall be assessed
by the auditor, on account of said IN.
come tax, in such manner as appears
10 him, from the best information OBJ
tainable by him, either by execution
of the defaulting taxpayer or any
other evidence, that such taxpayerl IS
liable for, and in case of failure or to
neglect to make lists or return the
said auditor shall assess 50 per can-
tum as a penalty to the amount OF the
tax due, and in case Of wilfully false
or fraudulent return or list having
been rendered the auditor shall add
100 per centum as a penalty to said
tax; the tax and the addition thereto
as q penalty to be assessed and collect
ed IN the same manner provided for
IN the case Of failU' e to make returns
or lists OF personal property.
Section 7. IN every respect not here
in specified, the return for, and the
levy and collection OF the tax provid-
ed in the Act shall be subject to all the
provisions of law relative to the assess
ment and collection Of taxes and per-