New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-10-22
@ FFICIA L.
LAWS Dr. THE UNITED STATES.
Passed DIT the Second Session OIL inc
Forty-fIrst Congress.

fPUBLIC-NO. lbi]
AN ACTI 70 reduce internal taxes. and for
other purposes.
Re Il eracted by the Senate and House OF
| Representatives of tho United States OF
| America in Congress assembled. That
on and liter the first day OF May, eighteen
| hundred and seventy one the SPECIAL taxes
;mno,cd by .he seventy-ninth section of
| the act entitled IAN act to provide IN
| tQrnai reyenue to support the govern
meut. to nav interest on the pubic
| debt. arid for other purposes. approved
| lime thirtv. eighteen hundred and sixty
four, as I,mended by section nine OF the IN
ternal I'd venue act approved July thirteen
| eiohteenI hundred and siXty-siX. and rs
| amended by section two of the internal
revenue act approved March two eighteen
| hundred and sixty -seven, be and She same
are hereby repealed: but this act shall not
be held TO repeal or in any way affect the
special TX on brewers imposed by SAID sec
! ton, or the special taxes imposed by the
act approved July twenty, eighteen hun.
| drcd and sixty eight, entitled An act iiii-
| posing tIiXes on distilled spirits ana TOBACCO
and for bther PURPOSES or the acts ainohdi'-
tory the reOt.
| Src 4 And be it further enacted. That
on and after the first day of October, eight
| cen hundred and seventy, the several taxes
| on sales imposed by the internal revenue
| laws ndw in force, saving and excepting
such taa yes on sales rs are by existing law
paid by stamps, and the taxes on SAFES S E
| ieaf tobacco manufactured tobacco. suuh,
| cirars. a,reign and domestic distilled spirits,
and wihes, imposed by said act, approved
! .Julv tIenty. eighteen hundred and sixty
| cigit. ahd acts amcndatOry thereof be. and
the SAME are hereby. repealed.
SEC. B. And be it further enacted, That
OH aud after the first day of October
eighteen hundred and seventy, the taxes
| imposed by the internal revenue laws. now
in forcd. herein specified, be, and the same
are hereby. repealed. namely: on articles III
schedule A; the special tax on boats, barSes,
and flats; on legacies and SUGGESTIONS; on
passports; and on gross receipts.
SIC L.. And be it further enacted, That
on and after the first day OF October,
eighteen hundred and seventy, the stamp
| tax i'm posed in schedule Is on prOmisSory
notes Tor less sum than one hundred
dollars. and on receipts tor any sum OF
| money or for the payment OF any debt
and tn stamp tax imposed IN schedule Z.
| on can he'd and preserved fish. be. and the
same ARE hereby repealed. And no stamp
shall be required upon the transfer or as
signmd mt OF a mortgage, where 1t or the m
| str,unent 1t secures has been once duly
stamped. AID the proprietor or prop1letors
| of articles named in said schedule {, who
shall furnish his or their own die or design
| for stamp, to he used especially for his or
their own proprietary articles. snail be
| allowdd the following commissions. namely:
| On amounts purchased at one time OF not
less than fifty dollars nor more than I'VE
hundred dollars, ten per centum on the
! whole amount purchased : Provided, That
lucifet or friction matches, and cigar Lights,
and wax tapers. may be removed from the
place bf manufacture for export to a foreign
country without payment OF tax, or affXln,
stam,l, thereto. under such rules and regu
Iationb as the Commissioner of Inter
nal Heyeiiue may prescribe; and ali pro
visions 81 existing laws inconsistent here
with are hereby repealed.
! SIC. s. And he it further enacted, That
section one hundred and fifty OF tho
act entitled IAN act to provide internal rev
cnue TO support the government, To pay III
terest on tie public debt, and for other pur
poses" approved June thirty, eighteen hun
drcd and sixty four, as 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 i'll the seconc
prov lao, and inserting in lieu thereof the
following: double the amount of tax re-
m.ining unpaid, but III no case less thar
five dollars" also, by striking out the word:
'.sixty six in the third provisO, and insert
ing III lief thereof the words seventy one
also, by striking ont the words sixty
seven" in the last proviso, and inserting In
sertihg in lieu thereof the words seventy
twO.r
Sic. 6. And be it further enacted, Tia
| there shall be levied and collected annual
ly, as hereinafter provided, for the year
eighteen hundred and seventy and elghteeI
! hundred and seventy-one, and no longer,
tax Of two and onc-half per centum upoI
the gains, profits and income of every per
son residing in the United States, and o
EVERY citizen of the United States residing
, abroad. derived from any source whatever
whether within or without the Cnitet
States except as hereafter provided, and
like tax annually upon the gains, profit
and income derived from any business
trade or profession carried on in the Cnite'
States by any person residing without tn
United States, and not a citizen thereof, o
from rents of real estate within the Cnlte'
States owned by any person residing Will,
out the United States, and not a c:tizel
thereof.
She T. And be it further enacted. Tha
, ! in estimating the gains, profits, and incom
of any person, there shall be included al
income derived from any kind of property
f rents. interest received or accrued upon al
, notes, bonds, and mortgages, or other form
, of indebtedness bearing interest. whethe
f paid or not, if good and cOllectable, interes
, upon notes, bonds, or other securities OF tn
United States; and the amount OF all prt
MUM on gold and coupons; the gains
! profits, and income of any business pre-
fesa ion, trade employment, office, or voca
, | ton; including any amount received a
, salary or pay tor services in the civil, mil
| tary, naval, or other service of the Unite
, | States, or as senator, representative or dele
gate i'll Congress; except that portion there
of from which, under authority of acts c
a | Congress previous hereto, tax of five pc
ce1tum shall have been withheld; the shAr
of any person of the gains and profits
whether divided or not, of all companies q
! partnerships, but not including the amour
| reteived from any corporations who's
: officers. as authorized by law, withhold an
: pay as taxes per centum of the dividend
| made, and of interest or coupons paid b
Y sufh corporations; profits realized With
q | thh year from salee of real estate purchase
y within two years previous to the year tC
/ which income is estimated: the amount ,
sales of live stock, sugar, wool. butte
: | cheese, pork, beef mutton or other meat
+ Iiay and grain, fruits, vegetables, or 0tht
!. ptoductions being the growth or produce (
J., THE estate Of such person, but not incudiI
any part thereof consumed directly by Il
: family; and all other gains. profits and L
+ come drawn from any source whatever, bl
( not Including the rental value of the HON
4 stead used or occupied by any person, or
his family.
C SEC. 8. And be il further enacted, TIL;
: military or naval pensions allowed to an
l. person under the laws of the United State
o and the sum of two thousand dollars Of Il
# ghins, profits and income of any perso
u shall be exempt from said income tax,
/, the manner hereinafter provided. ON
f ohe deduction of two thousand dollars sha
l. ba made from the aggregate income OF a