New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-11-08

I
Quoted from the gains, profits and income
of any person all national, State, county
| and municipal taxes paid by him within the
| year, whether such person be owner, tenant
or mOrtgager; all his losses actually sus-
tanned during the year arising from fires,
foods, shipwreck, or incurred In trade, ana
debts ascertained to be worthless, but OK
GLIDING all estimated depreciation of values;
the amount of interest paid during the year,
and the amount paid for rent or labor to
cultivate land, or to conduct any other bust
ness from which income is derived; the
amount paid for the rent of the house or
premises occupied as a residence for himself
or his family, and the amount paid out tor
usual and ordinary repairs. No deduction
shall be made for any amount paid out Tor
new buildings, permanent improvements,
| or betterments made to increase the value
| of any property or estate.
! SEC. 10. And he it further enacted,
That the tax hereinbefore, provided
/ profits, and income for the year end
| ing on the thirty-frst day of December next
| preceding the time for levying and collect
| ing said tax, and shall be levied Oh the first
| day of March, eighteen hundred and seven
| ty-onc and eighteen hundred and seventy
| two, and be due and payable on or before
the thirtieth day Of April in each OF said
years. And in addition to any sum an
! nually due and unpaid after the thirtieth
| day Of April and for ten days after notice
| and demand thereof by the collector, there
shall be levied and collected. as penalty,
| the sum of five per centum on the amount
| unpaid, and interest on said amount at the
! rate of one per centum per month from the
| time the same became duo, except from the
| estates Of deceased, insane, or insolvent
| persons.
SEC IL. And be it further enacted, That
| it shall be the duty Of every person of law
! ful age. whose gross income during the pre-
! ceding year exceeded two thousand dol
| lars, to make and render q return on or be-
| fore tho day designated by law, to the
| assistant assessor of the district in which he
| resides, Of the gross amount of his income,
! gains, and profits as aforesaid; but not in
| Guiding the amount received from any
| corporation whose officers, as authorized
| by law, withhold and pay as taxes IA
| per centuM of the dividends made and of
| the interest or coupons paid by such cOrpO-
ration, nor that portion of the salary or pay
received for services in the civil, military,
| naval, or other service of the United States,
! or as senator. representative or delegate in
| Congress, from which tax has been deducted,
| nor the wages of minor children not re-
| ceived; and every guardian and trustee, eX
| ecutOr or administrator, and any person
| acting in any other tiduciary capacity, or as
| resident agent for, or cOpartncr Of any non
| resident alien, deriving income, gains and
| profits from any business, trade or profess
| sion carried on in the United States, or from
| rents Of real estate situated therein. shall
| make and render return as aforesaid to the
| assistant assessor OF the district in which he
| resides of the amount Of income. gains and
| profits of any minor or person for whom he
| acts. The assistant assessor shall require
! every such return to be verified by the oath
| of the party rendering it, and may increase
| the amount of any return, after notice to
| such party. if he has reason to believe that
| the same is understated. In case any per-
| son having gross income as above, OF two
| thousand dollars or more, shall neglect or
| refuse to make and render such return, or
| shall render false or fraudulent return,
| the assessor or assistant assessor shall make
| such return. according to the best infOrma-
| ton he can obtain by the examination OF SAID
person, or of his books or accounts, or by any
| other evidence. and shall add, as a penalty,
| to the amount of the tax due thereon. fifty
per centum m all cases of willtul neglect or
| refusal to make and render a return. and
! one hundred per centum in all cases of a
| false or fraudulent return having been rem
| dered. The tax and the addition thereto as
penalty shall be assessed and collected in
| the manner provided for in cases of wilhul
neglect or refusal to render a return, or of
| rendering a false or fraudulent return. But
no penalty shall be assessed upon any per-
son for such neglect or refusal, or for max
| ing or rendering false or fraudulent re-
| turn. except after reasonable notice of the
| time and place of hearing. to be regulated
| by the Commissioner of Internal Revenue.
80 as to give the person charged an oppor-
| tunity to be heard: provided. that no col
lcctOr, deputy collector, assessor. or assist
| ant assessor shall permit to be published in
any manner such income returns. or any
| part thereof, except such general statistics.
| not specifying the names of individuals or
| firms. as he may make public. under such
| rules and regulations as the Commissioner
OF Internal Revenue shall prescribe.
SEC. II. And be it further enacted, That
when the return of any person is increased
by the assistant assessor. such person may
exhibit his books and accounts, and be per-
mitted TO prove and declare, under oath,
the amount of income liable to be assessed;
! but such oath and evidence shall not be con-
elusive of the facts, and no deductions
claimed in such cases shall be allowed until
approved by the assistant assessor. Any
person may appeal from the decision of the
assistant assessor, in such cases. to the
assessor of the district, and his decision
thereon, unless reversed by the Commission
cr of Internal Revenue. shall be final. The
form, time, and manner of proceedings shall
be subject to regulations to be prescribed
by the Commissioner of Internal Revenue
SEC IL. And be it further enacted. That
any person. in his own behalf or as such
tiduciary or agent. shall be permitted to
declare. under oath, that he. or his ward,
beneficiary. or principal, was not possessed
of an income of two thousand dollars. liable
to be assessed according to the provisions of
this act; or may declare that an income
tax has been assessed and paid elsewhere
in the same year. under authority
of the United States, upon his income,
gains. and profits. or those of his ward,
beneficiary, or principal. as required by law;
and if the assistant assessor shall be salts
fed of the truth OF the declaration, such per
son shall thereupOn be exempt from income
tax in the said district.
SEC H. And be it further enacted, That
cOnsuls of foreign governments who are not
citizens Of the United States shall be exempt
from any income tax imposed by this act
which may be derived from their official
emOilments, or from property in foreign
countries: Provided, That the governments
which such cOnsuls may represent shall ex-
tend similar exemption to consuls of the
United States.
SEC. Is. And be it further enacted. That
there shall be levied and collected for and
during the year eighteen hundred and sew
enty-One a tax of two and One-half per
centsIm on the amount of all interest or
coupons paid on bonds or other evidences of
debt issued and payable in one or more
years after date, by any Of the corporations
in this section hereinafter enumerated, and
on the amount of all dividends of earnings,
income, or gains hereafter declared, by any
bank, trust company, savings institution,
insurance company, railroad company, canal
company, turnpike company. canal nav
igaton company, and slack-water
company, whenever and wherever
the same shall be payable, and
TO whatsoever person the same may be due,
including nOn-residents. whether citizens or
aliens. and on all undivided profits of any