New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-10-21

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the preceding section, there shall be dc
Quoted from the gains, profits and income
of any person all national, State. county
and municipal taxes paid by him within tiit
| year. whether such person be owner, tenant
| or mOrtgager; all his losses actually siiS
tanned during the year arising IRON hres;
floods, shipwrecll, or incurred IN trade ana
debts ascertained TO be worthless. but eN-
Guiding all estimated depreciation OF values;
the amount OF interest paid during the year
ard the amount paid for rent or labor 10
cultivate land, or to conduct any other busi-
ness from which income ia dcrlyed: the
| amount pad for the rent OF the house OF
| premises occupied as q residence for himself
or his family, and the amount paid out iol
usual and ordinary repairs. No deduet4oh
| shall be made for any amount paid ont Tor
! new buildings, permanent improvements
or betjerments made 10 increase the value
| of any property OF estate.
| SEC. 10. And be il further enacted,
| That the tax hcreinbetore provided
shall be assessed upon the gains,
profits, and income for the year end
! ing on the thirty first day OF December next
| preceding the time for levying and collect
| ing said tax, and shall be levied on the first
| day of March, eighteen hundred and seven
| ty-one and eighteen hundred and seventy
| two and be due and payable on or before
| the thirticth day OF April ii each OF sad
! years. And in addition to any sum an
| nually due and unpaid after tae tiniitth
| day Of April. and tor ten days alter notice
| and demand thereof by the collector, there
| shall be levied and collected. 40 q penalty,
| the sum ot five per ceutJm on the amount
| unpaid, and interest on SAID amount at the
rate OF one per centuIn per month from the
| time the same became due, except from the
/ estates of deceased, insane, or inSolvent
! persons.
| SEC. H. And he it further enacted, That
| it shall be the duty of every person OF law
| tul age, whose gross income during the pre-
| ceding year exceeded two thousand dol
! lars, to make and render return on or be-
| fore the day designated by law, 10 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, authorized
| by law withhold and pay as taxes a
| per ccntum 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 i'll 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-
| ceiveA and every guardian and trustee, cx
! ecutOr or administrator, and any person
| acting in any other tiduciary capacity, or as
! resident agent for, or copartner OF. any non
! resident alien. deriving income, gains and
| profits from any business, trade OF profess
| sion carried on in the United States, or from
| rents OF real estate situated therein, shall
make and render return as aforesaid 10 the
| assistant assessor of the district in which he
resides Of the amount OF income, gains and
| profits OF any minor or person 1or whom he
acts. The assistant assessor shall require
| every such return to be verified by the oath
| of the party rendering 1t, and may increase
| the amount OF any return, alter notice to
| such partv if he has reason 10 believe that
| the same is understated. In case any per-
| son having Il gross income as above, Of two
| thousand dollars or more. shall neglect or
refuse to make and render such return, or
| shall render d false or fraudulent return,
the assessor or assistant assessor shall make
| such return, according to the best intorma-
ton he can obtain by the examination of SAID
person, or OF his books or accounts, orhy any
! other evidence, and shall add, a, a penalty
10 the amount of the tax due thereon, fifty
| per centum in all cases OF Wilhul neglect or
| refusal to make and render a return, and
one hundred per cenNlm in al cases OF a
! false or fraudulent return having been rem
| dered The tax and the addition thereto As;
penalty shall be assessed and collected iii
| the manner provided for in cases of wiiltlIl
| 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 a 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.
SO as to give the person charged an oppor-
| tunity to be heard: provided, that no col
! lector. deputy collector, assessor, or assist
ch,11 10 n bod 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. Il. And be it further enacted. That
| when the return of any person Ia 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&0uch Gases, to the
| assessor of the district. and his decision
| thereon, unless reversed by the Commission
| er 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 b. And be it further enacted, That
any person. in his own behalf, or as such
| fiduciary 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
i'll 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 DC salts
fed of the truth of the declaration, such per
son shall thereupon be exempt from income
tax in tho said district.
SEC. II. 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
em0luments. or from property IN foreign
countries: Provided, That the governments
which such consuls may represent shall OK
| tend similar exemption t1 consuls OF the
United States.
SEC. IS. And be it further enacted, That
| there shall be levied and collected for and
| during tho year eighteen hundred and sew
| enty-one !. tax Of two and oue-haJf per
| ccntum on tho amount of all interest or
| coupons paid on bonds or other evidences Of
| debt issued and payable in one or more
| wears 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
| lgatlOn company, and sIackwatcr
| company whenever ald wherever