Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1915-10-28
DECIDED INCREASE IN
RICHMOND INCOMES
Total Reported for Taxation Over
and Above Exemptions Is
S6,OS3, 1873.
ONE IN Iso PAYS INCOME TAN
ID. ID. Fitzgerald Leads List With In
come of ST., T,432-T. G. Williams,
Jr., Is Second-Estate OF John l..
Branch Reports S2OO,OOO Income.

One in every $50 persons residing
the city Of Richmond is fortunate
enough to have an annual income of
more than $4,000. according TO figures
compiled from the report of II. l.. Tres
non. commissioners of revenue. fled
yesterday with c. Lee Moore, State
Auditor of Public Accounts.
The report of Commissioner Tresnon
shows that the total of taxable incomes
in the city for the year 1915 aggregates
S6,oSS,673. as compared with s5,400,00
for the year 1914. an increase Of $685.
673. Although there is shown an in
crease in the total taxable incomes re-
turned the number OF persons paying
on their incomes decreased somewhat
from that OF last year. when there
We're more than 1900 taxpayers in the
city whose incomes were taxable
LEE WARD LEADS IN
NUMBER AND AMOUNT
AS in previous years. Lee Ward leads
all other sections of the city both in
comes and in the aggregate Clay
Ward is the nearest competitor but
falls considerably short of the record
made by Lee. Lee Ward has 4O5 people
paying on incomes amounting Ia
S3,5oS,332. Clay Ward has 225 persons
whose incomes aggregate s95G,S0S
The taxable incomes in Madison and
jefferson Wards are S7i0,025 and $751;
02a. respectively.
The State tax laws, as revised bv
the last session Of the General Assem-
bly,. provide that all salaries wages
fees or compensationS; earnings from
partnerships of business, whether or
not they are located in the State OF
Virginia; interest upon notes and bonds
of every descriptions; royalties derived
from mines or copyrights or the pos
session or use of franchises or legal
lied privileges of any kind. shall be
scheduled in reports as incomes. All
other gains and profits derived from
whatever source must be listed.
EXEMPTIONS FROM TAXATION
PROVIDED by STATUTE
The law provides for certain exemp-
| tlons from taxation on incomes as
follows:
There Shall be exemp, from taxa
ton under this schedule income OF
each taxpayer rs follows: To an in
dividual. income up to and including
! the sum OF $1,000: to Il husband and
; wife, income up 10 and including
Sl.Sc0: for each unmarried child under
the age of twenty-onc years. the sum
of $500. Provided that only one deduc-
| ton of the specified sums aforesaid
shall be made from the aggregate in
come of any family, except that guard
ians may make a separate deduction of
$1,000 in favor OF each ward out OF the
income coming 10 such ward"
III addition to these exemptions, there
are provisions for the deduction of all
interest on personal Indebtedness,
taxes. fire insurance premiums; ncccs-
sary expenses actually paid in carry
ing on any individual business. not in-
cluding personal or living expenses,
and all losses that are actually sus-
tanned during the year in conducting
business. All debts due the taxpayer
that are actually ascertaincd TO be
worthless and charged off during the
year may he deducted from the report
as losses.
MANY RICHMONDERS PAY
TAXES AT COUNTRY PLACES
Many Richmonders do not maintain
! their legal homes in Richmond, hut
! reside in the country, and make their
| tax returns from the counties in which
| their summer residences are located.
ID. ID. Fitzgerald leads In the list
having an income of s77.432. It. c. Will
liams. Jr.. Is close second. with $72,-
/ 522. while L. Randolph Williams has
! s6G.a73. The John +. Branch estate
| scheduled an income of 100000. Miss
Grace Arcnts is the weaIthicst woman
| in Richmond, with an income OF
s26.799, while Mrs. III. p. Christian re-
ports S23,625.
INCOMES REPORTED FOR TAXATION
OVER AND ABOVE EXEMPTIONS
There are many persons reporting
more than $4,000. The following list
Continued on Ninth Page.)