The Lansing state Republican. [volume] (Lansing, Mich.) 1855-1874, 1864-11-09
.(OFFICIAI.l
LAWS OF THE UNITED STATES.
Passed AT the First Session OF the Thirty
Eighth Congress.
rPrKuc-No. ISL

Passed a the First Session OF the Thirty
Eighth Congress.
lPrBuc-No. I4sl
AN ACT 10 provide Internal Revenue to sepport The
T Government 70 pay interest on the Public Debt,
and FOR other purPoses
Continued from he Republican Of Oct 24h
Sec 12o. 4nd te IL further enacted, That there
shall be levied and collected duty OF nve per eentum
. IN all dividends IL scrip or money thereafter &C.
c4red due and whenever the same shall be payable,
10 stock hOlleTs, pOlicy holders or cepOsitors. as
part Of the earnings, income gains OF any bank
trust company savings institCtOn, and VI any IRE
mar ne lie, inland insurance company, either stock
or mutual. under whatever nsme or style known or
called iu the United States Territories, whether
specially incorp rated existing under general laws.
and Oh ali undistributed sums, OF sums made CT ao
1ed during the year TO their surplus contingent
funds; AID said banks, trust companies, saving
institutions and Insurance. companies shall pay the
SAID duty and are hereby authorized 10 deduct and
withhold from ali payments made on account OF any
dividends sums Of money that may be due and
payable aforsad the said duty Of five per centum
And list shall be made and rendered to the
assistant assessor IN Duplicate and one oi
! said lists returns shall be transmitted, and the
duty paid the commissioner Of internal revenue
within thirty days alter the time when any divid-
ends or sums Of money become due or payable
Aforesaid and said list or return shall contain true
faithful account Of the amount Of duties as afore
said. and there shall be annexed thereto ceciEra
tOn Cf the president, cashier, or treasurer u the
bank trust company, savings institution, or lnsur
aucp
manner - may be prescribed by the commissioner
Oi intsrnal revenue, that the same contains true
and faithful account o. The duties aforesaid. Aid
for any default IL the making rendering u such
list or return With such declaration annexed, the
bank trust company, savings institution. oi nser
ance company, RaSiug such default. shan .OTfss as
penalty the " one thousand dollars nd IN case
OF any default IN making or rendering SAID list or re
turn Of any default ia tie payment OF tue duty
required aLy part thereof tie assessmcrt aud col
lection Of the duty and penalty shall be n accordance
rffh he
neglect AM refusal. Ircgided That the duty upon
the dividends Of ne Insurance companies sh3i Lot
oe ceeInel due 10 be collected Until such
e .iviienus slal be payable BY such com
plncs n0r shall the portion VI premiums returned
~ mutual life Insur1ace cOmiaLl-s 70 their policy
holders De cousitere- as dlvidencs or prchs cnder
SEC III ind Le u further enacted, That any nk
sgaiiy authorized 20 issue notes circulation, which
shall neglec. omit u make dividends additions
10 its surplss contingent fund - often as ouee u
six months sha make a list return IN duplicate,
under oath or sni nation Of he side3t Or cashier
20 the assessor assistant assessor Of the disTct IL
which Il IS located the first days Of January and
July in each year, within thirty days thereafter
OF the anocut VI profits which have accrued or
been earned and received by said bank during the
months next preceding said hrst Cay OF January
aad July; ano shall present one Of said lists or re-
turns pay the collector Of the district duty
OF five per ceItum on such profits and Ia Of de
fault q Ike such list return payment within
the thirty days aior said shall be subject TO the
prOvlslons Of the foregoing section OF this act: Pro
rlfed That when any dividend is made which in
any part surplus contingent fund Ofany
bank, trust company savings institution, insurance
OF railroad company which has been assessed and the
duy paid thereon the amount Of duty paid on that
portion Of the surplus contingent fund may be dc
ducled from the duty on such dividend.
Sec /. 2 And be it further endctd. That any rail
>. road canal turnpike canal navigation, or sackwater
company indebted for any money for which bonds or
other evidence Of indebtedness have been issued
payable IN more years after date, upon which
interest IS stipulated to be paid or coupons repre-
seuting the interest, or any such company that may
have declared any dividend In scrip, money due
payable TO its stockholders as part Of the earnings
profits income gains Of such company, and all
profits such company carried TO the account OF any
und or used for construction shall be subject 10 and
pay a duty Of five per centum the amount Of all
. such interest coupons, dividends or profits when
:, the same shall be payable; snd said companies
are hereby authorized 10 deduct and withhold from
n all payments account Of any interest, or coupons
and dividends due and payable as aforesaid the duty
- OF FIVE per centum; ana the payment Of the amount
= Of said duty deducted from the interest, or cOu
- pOus dividends and certified by the president or
- Of said company shall discharge said com
pany from that amount Of the dividend, or inter st
" or coupon on the bonds other evidences OF their
= Indebtedness held by any person or party whatev-
except whore said companies may have contracted
: otherwise And list OF return shall bo made anG
rendered TO The assessor or assistant assessor IN du
" pcate and one of said lists shall he
mIted and the duty paid the commissioner Of in
ternal revenue within thirty days after the time when
said interest, coupons, dividends become due and
n payable and often every six months and said
s. list OF return shall contain true and faithful
count Of the amount of the duty, and thero shall be
L. annexed thereto declaration or the president or
r u the company under oath or affirmation
M ! ia form and may be prescribed by the
commissioner OF internal revenue that the same con-
e t4ns faithful account OF said duty. And for any
te default in making rendering such list or return
with the declaration annexed, or OF the payment Of
e the duty aforesaid the company making such de-
of fault shall forfeit penalty the sum Of one thous
or and dollars aud Of any default in making
rendering said list return Of the Of the
duty or any part thereof aforesaid the assessment
Of and collection Of the duty and penalty shall be made
nj according the provisions Of law IN other cases OF
n / neglect or refusal
e Sec Is And b It further enacted ThA; there shall
Al be levied collected and paid al salaries OF ON
GERS for services 10 persons in the civil
,r military, naval other employment Or service OF
United States including senators and representa-
or tves and delegates n congress- when exceeding the
rate OF hundred dollars per annum, duty OF I'VE
per centlm the excess above the said SIX hundred
collars; ami shall Oe the duty OF all paymasters
IN all disbursng officers, under the government OF
the United States. or IL the employ thereof, when
making any pay TO officers and persons afore
said or upon settling and adjusting the account OF
such officers ana persons, 10 deduct ana withhold the
af resaid duty OF i've per ceutum, and shall at the
~ time make certificate stating the name OF the
u uficer or person from whom such deduction wal
- made, and the amount thereof, which shall be trans
u mitted the Office OF the commissioner OF uterna
revenue and entered part OF the internal duties
and The pay roll, receipts, or account Of officers OF
persous paving such duty aforesaid shall be made
70 exhibit the fact Of such payment And il shall De
W duty Of the several audit Of the Treasury De
partment, when auditing the accounts OF any pay
dlSOurSlg officer or when setting and ADJUST
ing tie accounts OF any such of1cer 20 require evi
dence that the duties taxes mentioned in this
st have been deducted paid over 70 the commits
soner of internal Provided That pay men 4
OF prize money shall be regarded as income from sal
aries and the duly thereon shall be adjusted and col
In lected IN ike manner
en- LEeAc1Es AND DIsrRIsuEvK SHARES " PsRsosAi
~ PRoPKRTT.
Sec lo4. And Be It further saaotsd, That any per
500 or persons having IN charge or trust, As admins,
traitors executors, trustees any egaces or distri
shares arising from personal property wher
me following amount Of such personal property q
afJresai Slal exceed The VI thousand dollars
aet- va4Ge passing, after the passage cf this act
IRON any person possessed Of such property, eithe
Oy by the iAt-state laws Of any state or terri
~ tory, any personal property Or interest therein
transferred by deed, grant, bargain, sale, or gEt
maze II atsuled - ta&e ersct Ia possession or en-
oyment alter the death OF the grantOr or barganor
10 4ny person " persons. Or 10 any body or b0cie
pltlc or corporate. trust other Es0, shall be
he aLd hereby IRE, made subject 10 Z duty or LAX
BE- paid - the United states as follows, that Is
say;
First. Where the person or persons entitled 10 an
Oenefc4 interests in such property shall be the Inca
80 issue Aneal ancestor brother sister, TO the per
- sOa who det possessed Of such property Sf0re
= said, II the rate Of dollar for each aud ever,
aundred dollars of the cear value Of such interest,"
We such property
~ ,ecoad- Where the person Or persons entitled 1
any beDeaca. interest Il scch property shall be
descendant Of brother or sister Of the person wh
died possessed, Aforesaid a. the Of dollar
for each and every hundred collars Of the clear v4lu
Oh OF such interest.
Ihird- Where The person or persons entitled to an
benstcil Interest IL such property shall be broihe
or sister Of the father or mother descen dat
- brother sister o. The father mother OF II
person who Clsd possessed zforesai1 the rate
four collars for each ald every hundred dollars Of tn
- - clear yAi1e 9. s-ch interest
=, Fourth Where the person or persons entitled 6
"a a. any beneficial interest in such property shall be
orVther or sister of the grandfather granonother
descendant Of tae brother sister Of the grand
father or grandmother OF the person who csd pos
sesset as foresaid az the Of Eve dollars for
and every hundred dollars 0; the clear value Of sue
interest
-. Fnth Where the person persons entitled 10 an
~ beneficial interest il sach property shall be in an
other degree Of collateral eonsansuinty than Is here
en nostors stated, or shall b stranger blood 70 u
nd person who died possessed A. Aforesaid or shall b.
c body polite or corporate al the Of &c lars 70
N e1cn AID every hCnared dollars Of the clear value