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Internal Revenue

Internal Revenue image
Parent Issue
Day
16
Month
December
Year
1864
Copyright
Public Domain
OCR Text

The report of Judge Lewis the Comrnissioner of Internal Rovenue, shows that the reoeipts of the Departmont during the ftjffal year ending on the 30th ol June last, wefe bout $106,200,000. He is of opinión that the new aut, aided by the iidditional tas of tiva per cent. on inuomes of 1863, will produye for the first year. about $265,000,000. As three hundred millions are needed for tho t-upprt of the public credit, according to the ebtimaleB of the öeoretary of the Treasury, the Gornmisuioner recoininends a tax of oue half of one per oent. on sales, to continue for one year only, ae be isealisüed that the preient tos will ihereafter yiold the required amount. The only important ehmDges recommeoded bythe (JommlBeiorier are taxes on petroleum, and on' tobacoo in the leaf, with corresponding reductioní in the rofined and rnanufuoUired products. Tho eatimated recuiptg of the special incoma tax authprized by joint reso!uti(n of July 4, 1864, uro $35.000,&00. The tax puid by National limiks dnrint; tlio first suvon month oí tlio curreut fiscal year, amouuts to $164,461 2t.

Article

Subjects
Old News
Michigan Argus