The south-western. [volume] (Shreveport, La.) 1852-1870, 1866-10-03


That section one hundred and twenty be amended BY
striking all after the enacting clause and inserting
in lieu thereof the following That there shall be lev
led and collected tax of FIVE per centum on all divi
dends in scrip money thereafter declared due wher
ever and whenever the shall be payable to stock
holders, policy holders, depostors, or parties what
soever, including non-resdents, whether citizens OF
aliens, part of the earnings, income or gains oil
any bank, trust company savings institution, and OF
any fire. marine, life, inland, insurance company, either
stock mutual, under whatever style known
or called in the United States Territories, whether
specially incorporated existing under general laws
and all undistribute5 SQns or sums made oradded
during the year 20 their surplus contingent funds
and said banks trust companies savings institutions,
and insurance companies shall pay the said tax, and
are hereby authorised to deduct and withhold from all
payments made account of any dividends or sums
of money that may be due and payable aforesaid,
the said of five per centun. And list return
shall be made and rendered to the assistant
assessor on before the tenth day of the month fol
lowing that in which any dividends or sums of money
become due payable aforesaid and SAID list or
return shall contain and faithful account OF the
amount OF aforesaid; and there shall be an
nexed thereto declaration of the president cashier
treasurer of the bank, trust company savings ns-
tuition insurance company, under oath or aHlrna-
tion in form and manner may be prescribed BY the
commissioner Of Internal revenue that the same con-
tans true and faithful account OF the taxes us atore
said And for any default in the making rendering
of such list return with such declaration annexed
the bank, trust company savings inSTtuhon or lnsur
company making such default, shall forfeit as
penalty the of one thousand dollars; and III case
O.
turn, Of any default in the payment Of the tax as
required, any part thereof the assessment and col
lection of the and penalty shall be in accordance
with the general provisions Of the law in other OF
neglect and refusal: P0gded, That the tax upon the
dividends of life insurance companies shall not be due
until such dividends payable nor Shall the p0rton
of premiums returned by mutual life insurance conf
panies their policy holders, the annual or semi
annual interest allowed or paid to the deposltors IN
savings banks savings institutions, be considered
as DIVIDENDS.
That section one hundred and twenty-five be amend
ed by striking out all after the enactng clause and IN
scrtiug in lieu thereof the following: That any ral
road, canal turnpike canal navigation, or sack-water
company indebted for any money for which bonds or
other evidence of Indebtedness have been issued pay
able in more years after date, upon which inter-
est is stipulated to be paid, or coupons representing
the interest or any such company that may have de-
cared any dividend in scrip, money due or payable
to its stockholders including non-reSidents, whether
citizens aliens, part Of the earnings, profits IN
come, gains Of such company, and all profits oil
such compuny carried to the account of any h4ld, or
used for construction shall be subject to and pay tax
of five per centum the amount OF all such interest,
coupons, dividends, profits, whenever and wher
ever the shall be payable, and to whatsoever par
ty or person the may be payable including non
residents whether citizens alIens and said compa
nes hereby authorised to deduct and withhold from
all payments, account of any interest, or coupons
and dividends due and payable aforesaid the tax of
! five per centum; and the payment OF the amount of
said tax so deducted from the interest coupons
divldedds and certified by the president treasurer
of said company, shall discharge said company, shall
dend or interest or coupon on the bonds or other ey
licences Of their Indebtedness held by any person
party whatever except where SAID companies may have
contracted otherwise And list return shall be
made and rendered to the assistant assessor
on or before the tenth day of the month following that
in which said interest coupons, or dividends become
due and payable, and often every six months !;
and said list return shall contain true and faithful
account OF the amount of tax and there shall be
nexed thereto declaration OF the president treasu
rer of the company Under oath affirmation, in form
and as may be prescribed by the commissioner
of internal revenue that the contains true auG
faithful account of said And for any default in
making or rendering such list return with the dec
laration annexed, or Of the payment Of the tax as
aforesaid the company making such default shall for
felt penalty the sum of one thousand dollars and
in of any default IN making or rendering sad list
OF return, or of the payment OF the tax, any part
thereof aforesaid the assessment and collection Of
the tax and penalty shall be made according o4he pro-
visions of law in other cases of neglect refusal
PJOyids3 That whenever any OF the companies men
toned in this section sAa be unable pay the interest
on their Indebtedness and shall in fact fail pay such
interest in such the tax levied by this section
shall be paid to the United States, Ill said com
pany the payment of interest on their ndcbt
edness
That section one hundred and twenty three be amen
ded by strkis oct all after the eaactng clause, and
insertiag III lieu thereof the following That there
shall be levied collected and paid all salaries of
officers payments for services to persons IN the
evil military naval. other employment or service
of the United States including senators and represen-
atives and delegates congress- when exceeding the
per centum the above the said six hundred
dollars aud tax of ten per centum on the excess over
five thousand dollars and it shall be the duty Of all
paymasters and all Cabursing officers under the gov
ernment of the United States or persons in the employ
thereof when making any payment to any officers or
Dersons as aforesaid upon settling and adjusting
the accounts of such officers persons, to deduct ad
withhold the aforesaid tax, and they SHALL at the
time make a certificate stating the name OF the officer
or person from when such deduction made and
the amount thereof which shall be transmitted to the
Office of the commissioner of Internal revenue and en-
tered part of the internal tax and the payroll, re-
cepts or Of officers persons paying such
tax as aforesaid shall be made to exhibit the fact of
such payment. And it shall be the duty Of the several
auditors Of The treasury department, when auditing the
accounts of any paylnaster Gsbursiug officer, or
any officer Withholding his salary from moneys received
by him. when settling adjusting the accounts OF
any such officer, to require evidence that the taxes
mentioned in this section have been deducted and pad
over to the commissioner Of internal revenue other
officer authorised to receive the same lr09dta That
payments of prize money shall be regarded income
from salaries, end the tax thereon shall be adjusted
and collected in like manner: Po9jdea t@tths, That
this section shall not apply to payments made to me-
chanics laborers employed upon puoHc WORKS.
That section one hundred and to " seven be amen
ded by striking out all after the enacng clause, and
inserting in lieu thereof the following: That any per
son liable 10 pay respect any succession shall
give notice to the assistant of his
liability to such within thirty days from the time
when he shall become entitled in possession to such
succession or to the receipt of the income and profits
thereof and shall at the same time deliver to the as
SCISSOR OF assistant full End true account Of
said succession for the tax whereon he shall be aCco
table aud of the value of the real estate involved, and
of the deductions claimed by him, together with the
names of the successor and predecessor and their rea
ton to each other, and all such other particulars as
shall be necessary proper for enabling the assessor
or assistant assessor fully and correctly to ascertain the
the taxes dues and the assistant assessor
if satisfied with such account and estimate originally
delivered or with any amendments that may be made
therein upon his requison, may assess the succession
tax the footing Of such account and estimate; but
it shall be lawful sor the assistant assessor
ii dissatisfied with such account if account and
estimate shall be delivered to him. to assess The ta% on
the best information he obtain subject to appeal
as hereinafter provided and if the tax SO assessed
shall exceed the assessible according to the return
made To the assessor or assistant assessor, and with
which he shall have been dissatisfied or no account
ana estimate has been delivered and If no appeal shall
be taken against such assessment then 1t Shall be III
the discretion Of the assessor having regard to the
merits of each case, to the whole any part OF
the expenses incident the taking Of such assessment
in addition to such tax; and if there shall be APP
peal against such last-Ienene3 assessment then the
payment of such expenses shall be iii the discretion oil
the commissioner OF internal revenue.
That section hundred and forty eight be amended
by striking out all after the enactng clause and nser
in lieu thereof the following That if any person re-
qured to give such notice deliver such account as
aforesaid shall wilfully neglect to do SO within the
time required by law, he Shall be liable to pay the