New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-10-28
only one thousand dollars for any year prior
To eirhtaen hundred and seventy.

| 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 III trade ana
| debts ascertained to be worthless, out eX-
Guiding 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 10 conduct any other pnsl-
ness from which income is derlved the
amount paid for the rent OF the house or
| premises occupied as a residence tor himself
| or his family. and the amount paid out Tor
usual and ordinary repairs. No deduction
| shall be made for any amount pad out Tor
| new buildings, permanent improvements,
| or betterments made 10 increase the Value
Of any property or estate.
| SEC. TO- And be il further enacted.
| That the tax herenbefore provided
shall be assessed upon the gains.
| ing on the thirtv-rirst day of December ne t
preceding the time for levying and collect
ing said tax. and shall oc levied on the lirst
day of March. eighteen hundred and seven
| tv-one 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 IL addition to any sum an
nualiy due and unpaid after the thlrtIeth
| dav of April and Tor ten days after notice
and demand thereof by the collector, there
| shall he fcvied and collected, as IA penalty,
| the sum of five per centmn on the amount
| unpaid. and interest on said amount AT the
| rate of one per centum per month from the
| time the same became due except from the
| estates vi deceased, insane, or iusolVent
| persons.
SEC. II. And be it further enacted, That
| it shall be the duty OF every person OF law
! full age. whose gross income during the pre-
| ceding wear exceeded TWO thousand dol
! lars to make and render a return GA or be-
fore the day designated by law, to the
| assistant assessor of the district III which he
| resides. of the gross amount of his income,
! gains, and profits as aforesaid: but not i'll
| Guiding tie amount received from any
! corporation whose officers, as authorized
| by law. withhold and pay as taxes a
| 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 Tor 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-
| ccivcd: and every guardian and trusteeAeN
| ecutor or administrator and any person
acting in any other 1iduciary capacity, or as
resident agent for, or copartner OF any non
| resident alien, deriving income. gains and
| profits from any business, trade or probes
| 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 i'll 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 il. and may increase
| the amount Of any return. after notice TO
| such party if lie has reason to believe that
! the same is understated III case any per-
son having q gross income as above. of TWO
thousand dollars or more. shall neglect or
refuse to make and render such return. or
! shall render a false or fraudulent return
| the assessor or assistant assessor shall make
| such return. according to the best intorlna-
ton he can obtain by the examination OF sad
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 III all cases OF wilItul neglect or
refusal To make and render a return. and
one hundred per centull i'll 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 n cases of willful
neglect or refusal to render a return. or Of
az
no penalty shall be assessed upon any per
son for such neglect 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,
rs 70 give the person charged an uppor-
tunity to be heard; provided. that no col
lector. deputy collector. assessor. or assist
ant assessor shall permit 10 he published in
M q mel an any
part thereof. except such general statistics.
not specifying the names Of individuals or
firms, as lac NAV make public. under such
rules and regulations as the Commissioner
of Internal Revenue shall prescribe.
SEC. T.. 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-
lnitted to prove and declare, under oath.
The amount OF income liable 20 be assessed:
but such oath and evidence shall not be con-
elusive of the facts, and no deductions
claimed in such cases shall lie 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 bv'the Commission
cr OF internal Revenue, shall be final The
form. time, and manner OF proceedings shall
by the Commissioner OF Internal Revenue
SEC. 3D. And he it further enacted. That
any person, i'll 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
IL inv
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
lied Of the truth Of the declaration. such per
son shall thereupon be exempt from income
tax i'll the 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
emoiulnents, or from property in foreign
countries: Provided, That the governments
which such consllis may represent shall ex-
tend similar exemption to copsuls OF the
United States
- Sec. -. And he it further enacted. That
Where shall be levied and collected for and
during the year eighteen hundred and sew
enty-cne tax OF two and oue-half per
CfHtum Oh inc dilotlnu OF all interest or
coupons paid on bonds or other evidences OF
debt issued and payable in enc or more
Years after date, by any OF the corporations
i'll this section hereinafter enumerated. and
on the amount of al 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
igation company, and slack-water
company. whenever and wherever
the same shall he payable, and
TO whatsoever person the same NAV be due