New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-10-21
OFFICIA AL.
LAWS OF THE UNITED STATES.
Passed at the Second Session of the
FOrty.irst Congress-.
EPUBLIC-No. 1884,
AN ACT to reduce internal taxes, and for
other uurDuscs

! America in Congress assembled, That
on and after the tirst day OF May, eighteen
| hundred and seventy-one. the special taxes
imposed by the soventy-ninth section of
| the act entitled an act to provide i'll
teinal revenue TO support the govern
| mcnt, to pay interest on the public
! debt, and for other purposes" approved
June thirty, eighteen hundred and sixty
| four, as amended by section nine Of the in
ternal revenue act approved July thirteen,
| eighteen hundred and eiXty-5lX, and As
amended by section two of the internal
revenue act approved March two eighteen
| hundred and siXtY-seven, be and the same
arc hereby repealed: but this act shall not
! be held to repeal OF i'll any way affect the
| special tax on brewers imposed by said see
ton, or the special taxes imposed hy the
act approved July twenty, eighteen hun
| drcd and sxt eight, entitled An act I'M
| posing taxes on distilled spirits and tobacco.
and FOR other purposes or the acts amenla-
! tory thereof.
SEC. . And he ii further enacted That
| on and after the first day of October, eight
cen hundred and seventy. the several taxes
| on sales imposed hy the internal revenue
| laws now i'll force. saving and excepting
| such taxes on sales as are By cXlstin" law
| paid by stamps and the taxes on sales OF
| leaf tobacco o. manufactured tobacco. snuff.
cigars, foreign and domestic distilled spirits.
and wines, imposed by said act. approved
| July twenty. eighteen hundred and sixty
! eight, and acts amandatory thereof, bc, and
! the same are hereby, repealed.
| SEC. 3. And be it further enacted That
| on and after the first day of October.
! eighteen hundred and seventy, the taxes
! imposed by the internal revenue laws, now
| in force herein specified, be. and the same
! are hereby, repealed namely: on articles in
| schedule A; the special tax on boats, barges,
| aud flats; on iegacics and Suggestions; on
| passports; and ON gross receipts.
SEC a. And be it further enacted, That
| on and after the first day Of October,
| eighteen hundred and seventy, the stamp
! tax imposed in schedule Il on pr0mlssory
| notes for . less sum than one hundred
| dollars, and OH receipts tor any SUM Of
money. or for the payment of any debt,
and the stamp tax imposed in schedule {,
| on canned and preserved fish. be, and the
! same are hereby, repealed. And no stamp
shall be required upon the transfer or as
| signmcnt of u mortgage, where 1t or the in
| stlument ii secures has been once duly
stamped. And the proprietor or propretors
! OF articles named III said schedule {, who
| shall furnish his or their own die or design
! for stamps 10 be used especially for his or
| their own proprietary articles, shall be
| allowed the following commissions, namely:
On amounts purchased at one time OF not
| less than fifty dollars nor moro than tive
hundred dollars, ten per centum on the
whole amount purchased Provided. That
lurifer or friction matches, and cigar lights,
! and wax tapers. may be removed from the
| place of manufacture for export to d foreign
country without payment OF tax, or atfiXlng
stamps thereto under such rules and regu-
| lations rs the Commissioner OF Inter
nal Revenue may prescribe; and all pro
visions OF existing laws Inconsistent here
with are hereby repealed
SEC >. And be 1t further enacted, That
section one hundred and fifty-eight OF the
art entitled An act TO provide internal rev
enur to support the government, to pay i'll
terest on the public debt, ana for other pur-
poses" approved June thirty, eighteen hun
dred and SiAty-tuur, 10 amended by section
nine of the internal revenue act approved
| July thirteen, eighteen hundred and sixty
six, be, and is hereby, amended by striking
out the words fifty dollars in the second
proyisO. and inserting in lieu thereof the
following: double the amount of tax
naming unpaid, but in no case less than
five dollars" also. by striking out the words
.'sixty-six' in the third proviso. ana insert
ing in lief thereof the words ''Seyent v-onc;
also, by striking out the words sixty
seven" i'll the last proviso. and inserting in
sorting III lieu thereof the words seventy
two.
SEC. 6. And be it further enacted, That
there shall be levied and collected annual
", rs hereinafter provided, for the years
eighteen hundred and seventy and eighteen
hundred and sevcnty-one and no longer, q
tax of two and onc-half per CeDtum upon
the GAINS profits and income of every per-
son residing i'll the United States, and Of
every citizen Of the United States residing
abroad. derived from any source whatever,
whether within or without the United
States, except as hereafter provided, and
,Ntl,
and income derived from any business,
trade or profession carried on III tho United
States by any person residing without the
United States, and not q citizen thereof. or
from rents OF real estate within tho United
States owned by any person residing with
out the United States. and not u citizen
thereof.
SEC. 7. And be it further enacted. That
in estimating the gains. profits. and income
of any person. there shall be included all
income derived from any kind OF property.
rents, interest received or accrued upon all
notes. bonds, and mortgages. or other forms
Of indebtedness bearing interest, whether
paid or not if good and collectable. interest
upon notes, bonds. or other securities of the
United States; and the amount OF all pre-
MUM on gold and coupons; the gains.
profits. and income of any business, pro
fession, trade. employment, Office, or voca-
salary or pay tor services i'll tho civil. mill
tarv. naval, or other service of the United
States, or as senator, representative or dele.
gate i'll Congress: except that portion there
of from which, under authority of acts of
Congress previous hereto, tax of five per
centum shall have been withheld, the share
of any person of the gains and profits.
whether divided or not of all companies or
partnerships, but not including the amount
received from any corporations whose
officers as authorized by law, wit lhOld and
pay IA taxes a per centum of the dividends
made. and of interest coupons paid by
such corporations; profits realized within
the wear from sales of real estate purchased
within two years previous to the year for
which income is ostimated the amount OF
sales OF live stock, sugar, wool, butter,
cheese pork, beef mutton or other meats,
hay and grain, fruits, vegetables, or other
productions. being the growth or produce of
the estate of such person, but not including
any part thereof consumed directly by the
family; and all other gains, profits and in
come drawn from any source whatever, but
not including the rental value of the home
stead used Or occupied by any person, or By
his family.
SEC s. And be it further enacted, That
military or naWll pensions allowed TO any
| person under the laws Of the United States,
| and the sum OF two thousand dollars of the
gains, profits and income Of any person,
shall be exempt from said income tax III
the manner hereinafter provided. Only
ono deduction of two Thousand dollars shalt
be made from the aggregate income OF all
the members OF any family composed OF one
or both parents and one or more minor
children, or of husband and wife; but when
wife has by law separate income, be
yond tho control of her husband. and IL NV
iIju "a. 4, Yf