New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-10-28
OFFICI A L..
LAWS OF THE UNITED STATES.
Passed mt the Second Session of the
FOrty-frst Congress-.
[PUBLIC-No. 164.1

lIUBLIC-NO. Ioi.
AN ACT to reduce internal taxes, and for
other purposes.
Be it enacted by the Senate and House of
Representatives of the United States of
America i'll Congress assembled, That
on and after the first day of May, eighteen
hundred and seventy-one, the special taxes
imposed by the seventy-ninth section of
the act entitled "An act to provide in
ment, to pay interest on tie public
debt, and for other purposes approved
June thirty, eighteen hundred and sixty
four, as amended by section nine OF the III
ternal revenue act approved july thirteen,
eighteen hundred and siXty-slX, and as
amended by section two of the internal
revenue act approved March two eighteen
hundred and siXty-seven. he and the same
are hereby repealed: but this act shall not
be held to repeal or in any way atect the
special tax 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 IAN act i'm
posing taxes on distilled spirits and tobacco,
and for other purposes or the acts anenda-
tory thereof.
SEC. . 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 now in force. saving and excepting
such taxes on sales as are by existing law
paid by stamps. and the taxes on sales OF
leaf tobacco 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 amendatOry thereof, be, and
the same are hereby. repealed.
SEC g. 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are hereby, repealed, namely: on articles i'll
schedule A; the special tax on boats. barges.
and flats: on legacies and SUGGESTIONS; on
passports; and on gross receipts.
SIC 1. And be it further enacted, That
on and after the first day of October.
eighteen hundred and seventy, the stamp
tax imposed in schedule on promissory
notes for less sum than one hundred
dollars, and on receipts tor any sum OF
money, or for the payment of any debt,
and the stamp tax imposed in schedule c,
on canned and preserved fish, be, and the
same are hereby, repealed. And no stamp
shall be required upon the transfer or as
signment of "a mortgage, where 1t or the in
strlment it secures has been once duly
stamped. And the proprietor or proprietors
of articles named in said schedule c, who
shall furnish his or their own die or design
for stamps to be used especially for his or
their own proprietary articles, shall be
allowed the following commissions, namely:
On amounts purchased ut one time of not
less than fifty dollars nor more than five
hundred dollars, ten per centum on the
whole amount purchased: Provided. That
luciter or friction matches. and cigar lights.
and wax tapers, may be removed from the
place OF manufacture for export to a foreign
country without payment of tax. or atiiXing
stamps thereto. under such rules and regu-
lations as the Commissioner OF Inter-
nal Revenue may prescribe; and all pro-
visions of existing laws inconsistent here
with are hereby repealed.
SEC. ). And be it further enacted, That
section one hundred and titty-eight of the
act entitled IAN act to provide internal rev
enue to support the government, to pay in
terest on the public debt, and for other pur-
pcses,' approved June thirty, eighteen hun
dred and sixty four, as amended by section
nine Of the internal revenue act, approved
July thirteen, eighteen hundred and sixty
six, he. and is hereby. amended by striking
out the words fifty dollars in the second
proyi>o, and inserting in lieu thereof the
double the amount of tax re-
naming unpaid, but in no case less than
five dollars" also, by striking out the words
"siXty-siN" in the third prorso. and insert
ing in lief thereof the words ''seventy-Onc:
also. by striking out the words ''siXty
seven in the last prOviso, and inserting in
sorting i'll lieu thereof the words seventy
two"
SEC. 6. And he it further enacted. That
there shall be levied and collected annual
~, as hereinafter provided, for the Years
eighteen hundred and seventy and eighteen
hundred and seyenty-one, and no Longer. q
tax OF two and one-half per ccnt,lm 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
like tax annually upon the gains, profits
and income derived from any business.
trade or profession carried on III the United
States by any person residing without the
United States, and not a citizen thereof, or
from rents of real estate within the United
States owned by any person residing with
out the United States, and not a citizen
thereof.
SEC. I. And be it further enacted. That
IN estimating the gains profits, and income
of any person, there shall he included all
income derived from any kind of property.
rents, interest received or accrued upon all
Iotts, anu VI Quiet
Of Indebtedness bearing interest, whether
paid or not, if good and collcctable. 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-
Iession trade. employment Office, or v0ca-
ton; including any amount received as
salary or pay for services III the civil. mill
tary. naval, or other service of the United
States, or as senator, representative or dele
gate in Congress; except that portion there
If from which. under authority Of acts of
Congress previous hereto, Il tax Of five per
centlm 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
from any corporations whose
officers, as authorized by law, withhold and
BAY as taxes a per centlm of the dividends
made. and of interest or coupons paid by
such corporations; profits realized within
he year from sales OF real estate purchased
within two years previous to the year for
which income is estimated; the amount OF
sales OF live stock, sugar. wool, butter,
.heese. pork, beef, mutton or other meats,
nay and grain, fruits, vegetables, or other
being the growth or produce OF
.hc estate of such person, but not including
my part thereof consumed directly by the
amily; and all other gains profits and in
;Ome drawn from any source whatever, but
lot including the rental value OF the home
stead used or occupied by any person, or by
lis family.
Sec. s. And be it further enacted. That
military or naval pensions allowed to any
person under the laws Of the United States
and the sum of two thousand dollars of the
gains, profits aud income of any person.
shall be exempt from said income tax. in
The manner hereinafter provided. Only
Dne deduction OF two thousand dollars shall
De made from the aggregate income of all
.he members Of any family composed of one
)r both parents and one or more minor