The Farmville herald and farmer-leader. (Farmville, Va.) 1934-1957, 1957-01-18
1856 State Income
Taxes To Be Paid
By May |, 1857
Acceleration Will
Give S35.000.000
For Capital Outlay

State income tax payment on 1856
income is now due and payable at
the county treasurers office.
You NAV have inst paid your
taxes in December, but 1856 state
income tax is due any time now. 1t
must be paid before May l. 1857 to
avoid five per cent penalty
The accelerated state income tax
program" was authorized by the
General Assembly as a means of
preventing an increase in tax rates.
The change in the payment date of
state income taxes gives the state
approximately s35. 900 900 more in
this fiscal year.
The General Assembly said that
the money is badly needed for capl-
tai improvements at state instltu-
tons. especially mental hospitals,
institutions of higher learning such
as Longwood College, hospitals at
medical colleges. tuberculosis sana-
toria and penal Institutions,
The extra revenue is possible for
this one fiscal year because 1t Will
include collections for income taxes
for the year 1855 which was paid
by Dec. 5. 1856 and also income
taxes for 1856 which viii be paid
by May /, 1857
One of the problems caused by
the acceleration program Is col
lection of the taxes. Prince Edward
County Treasurer j w. Wilson. said
that state taxes in this county due
on Dec. 5 totaled S143, 707. OF this
amount 1886 are still unpaid. State
income taxes make up S122.314 of
the foregoing figure.
Wilson said that steps were BEING
taken now to collect these unpaid
taxes. A five per cent penalty has
already been levied against the un-
paid taxes, and letters have been
written to each of those who are
delinquent, Wilson said.
lie expressed the opinion that 1t
was unfair to the person who paid
on time to allow these unpaid &C
counts to go uncollected. and his
office will start legal proceedings
this month to collect the unpaid
taxes
Wilson reported that there are
about 40 citizens who have already
filed their state returns on their
1856 income and most Of these paid
at the same time they filed" he
continued. Expecting slight IN
increase in the taxes on 1856 income.
Wilson estimated that state income
tax payments may reach $l30,o0 on
1856 income
State Tax Commissioner c H.
Morrissett said that the change In
payment dates should not work an
undue hardship on the average tax
payer. He noted that 70 per cent
of the taxpayers reported net in
comes of less than So 900. and pay
ments in this bracket vera G c
500
For those who have taxes Of $50
or more, payment may be made IN
two installmentS. The first install
ment is due before May |, 1857 and
the second installment is due on or
before October /. 1857 There is an
interest charge on this installment
plan. based on six per cent per
year
The acceleration plan will work
only once. In following years, the
income tax payments will be due
by May !, Thus, they coincide with
the Federal income tax payments
which must also be filed and paid
by april IS. 1857 to avoid the penalty
tax.
The acceleraton plan does not al
feet the other county and town
taxes. These must be filed by May
i, 1857 but payment will not be re-
CURED until the Usual December s.
1857