People's Pilot, Volume 3, Number 38, Rensselaer, Jasper County, 9 March 1894 — About Income Taxes. [ARTICLE]

About Income Taxes.

It would be interesting to know in just how many states an income tax is already an established thing. It is in Massachusetts certainly, to name a typical republican state. It is in Virginia also, to name a typical democratic state. Virginia, by a law passed in 1884, taxes all incomes in excess of S6OO a year, whether derived from rents, salaries, interest on notes, stocks, bonds and other securities not otherwise taxed. Massachusetts has for many years levied an income tax on all incomes in excess of $2,000 a year, unless they are derived from property subject to taxation. Incomes derived from any trade or profession, or from salaried employment, or from an annuity, or from ships engaged in foreign trade, are all subject to the income tax gatherer in Massachusetts. Pennsylvania taxes the incomes or net earnings of all corporations, foreign insurance companies and banking concerns, private or incorporated, three per cent.— N. Y. Recorder.