2043
Cleveland Morning Leader, 15 April 1864
(16 inches)
~ See original
p.4, col.3
~ View at ChronAm
2043 - L Apr. 15:4/3 - John E. Hurlbut, Esq., U. S. Assessor for this
district, states that profits realized from the sale of stocks are tax-
able as income; that profits on stock, real estate, etc., purchased pre-
vious to the passage of the excise law, and sold subsequent to its pass-
age, are taxable as income. For example: Wilson sold 15 acres for
$15,000 having bought them in 1844 for $900. Allowing $2,700 for inter-
est, the total profit would be $11,400. This would be considered as
income for 1863 and taxed as such. (16)