New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-10-26
FFICIA l..
LAWS OF THE UNITED STATES.
Passed Mt the Second Session Of the
FOrty-first Congress.
TPUBILC-No. l64.l
AN ACT to reduce internal taxes, and lot
other purposes.

hundred and SeNenI N-oiie, tlio oP'N''' ' r.
imposed bv the seventy ninth section OF
tLe act entitled AN act 10 provide H.
ternaI revenue TO support the govern
mcnt, TO nay interest on the pubhc
delhi. and for other purposes. approved
June thirty. eighteen hundred and SIXTY
fnrr. as amended by section nine vi the III
terpal revenue act approved july JMiIeeh'
eighteen hundred and sixty-siX, and as
amended by section TWO o. the INTERNAL
revenue act approved March two eighteen
hundred and sixty seven, he and the same
are hereby repealed: but this act shall not
he held 10 re,ieal or il any way affect the
special tax on brewers imposed by said sec
ton. or the special taxes imposed by the
act approved July twenty, eighteen nun
drctl and sixty eight, entitled An act MI
posing taxes on distilled spirits and tobacco,
and Tor other purposes, or The acts alhenda-
tory thereof.
SIC. >. And be it further enacted, That
on and after the first day OF October, el9ht-
cen hundred and seventy. the several taxes
on sales imposed by the internal revenue
laws now in force, saving ana excepting
such taxes on sales as are by existing law
paid by stamps, and the taxes On sales Oh
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 aInendatorT thereof, be, ana
the same are hereby, repealed.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, row
in force. herein specified, be. and ne same
are hereby. repealed. namely: on articles III
schedule 4: the special tax on boats. harges.
and flats: on legacies and SUGGESTIONS; On
and oO gross repplD1S.
SEC. 4. And be il further enacted. lhat
on and after the first day OF October.
eighteen hundred and seventy, the stamp
tax imposed in schedule Il on promlssofE
notes Tor a less sum than one hundred
dollars, and on receipts Tor any sum OF
money, or for the payment OF any Gent.
and the stamp tax imposed III schedule =,
on canned and preserved fish, be, ard the
same are hereby. repealed. And no stamp
shall be REQUIRED upon the transfer or as
signmcnt Of a mortgage. where Il or the III
strlluent il secures has been once duly
stamped. And the proprietor or propretolS
of articles named III said schedule I. VINO
shall furnish his or their own DE or design
for stamps 10 be used especially for his or
their own proprietary articles, shah DE
allowed the following comulsslons, nanelN:
On amounts purchased al one time OF not
less than fifty dollars nor more than five
nunUTtu tUlluIS. tflI ~ 'NAi-etiiA "a -
whole amount purchased Provided. That
lucifer or friction matches. and cigar nights,
ard wax rapers. NAV be removed 1rom the
place of manufacture for export - a 1orelgn
country without payment OF tax. or atflxln Z
stamps thereto. under such rules aud Iegu-
lations as the Commissioner OF Inter
nal Revenue may prescribe: an- all pro-
visions of existing laws inconsistent here
with are hereby repealed.
= T. =
section one hundred and tiftveight OF the
act entitled An act 10 provide internal rev
enue to support the government. 10 pay III
tereSt on the public debt. and tor other puI-
poses" approved June thirty. eighteen hun
bred and sixty four. as amended pT 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 nifty dollars III the second
proviso. and inserting ii lieu thereof the
following: double the amount OF tax re-
manning unpaid, but IN no case less than
five dollars: also. by striking out tie words
'.sixty-six'' in the third proy-iso. and insert
ing in lief thereof the words ''se.ent.7-one;
also. by striking out the words sixty
seven" in the last proviSo, and inserting III
serting III lieu thereof the words seventy
two
SEC. 6. And he it further enacted, That
there shall be levied and collected annual
w. as hereinafter provided. Tor the years
eighteen hundred and seventy and eighteen
hundred and seventy-one, ana 10 longer, a
tax of two and one-haif per centum upon
the gains, profits and income OF every per
son residing M 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 a
like tax annually upon the gains, profits
and income derived from any business,
trade OF profession carried on Ill the United
States bv anv person residing without the
United States, and not a citizen thereof OF
from rents of real estate within the United
States owned by any person residing with
ont the United States, and not citizen
thereof
SEC. I. 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 al
notes. bonds. and mortgages or other forms
of indebtedness bearing interest. whether
paid or not if good and collectablc. 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
fcssiOn, trade. employment, Once, or Noca
ton: including amy amount received as
salary or pay tor services III the civil. mlil
tarv naval. or other service Of the United
States. or as senator, representative or dele
gate in Congress; except that portion there
OF from which. under authority of acts OF
Congress previous hereto. Il tax Of five pei
centun shall have been withheld; the share
of any person OF the gains and profits
whether divided or not, OF all companies ol
partnerships. but not including the amount
received from any corporations whose
officers as authorized by law, withhold ano
pay as taxes a per centuIn ot the dividend:
made, and OF interest or coupons pad by
such corporations; profits realized within
the wear from sales of real estate purchased
within two years previous TO the year tol
which income is estimated: the amount o
sales OF live stock, sugar, wool, butter
cheese. pork, beet. mutton or other meats
hay ana grain. fruits. vegetables, or othel
productions, bein. the growth or produce o
the estate Of such person, but not mcludln!
any part thereof consumed directly by The
family; and all other gains. profits and III
come drawn from any source whatever, Du
not including the rental value OF the home
stead used or occupied by any person, OF b1
his family.
SEC. s. And he it further enacted, Tha
military or naval pensions allowed to an,
person under the laws OF the United States
and the sum Of two thousand dollars OF tn
gains, profits and income OF any person
shall he exempt from said income tax, II
the manner hereinafter provided. Oni'
one deduction Of two thousand dollars shal
be made from the aggregate income OF al
the members OF any family composed of on
or both parents and one or more nino
children. or OF husband and wife; hut whel
a wife has by law IL separate income, De
yond the control Of her husband, and IS llv
Ing separate and apart from him, such de
| duction shall then be made from her income
gains and profits; and guardians and trus
| ices sLall be allowed 10 mako the deductlOl