New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-10-26
only one thousand dollars for any year prior
to eighteen hundred and seventy.

of any person all nauona1, 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 in trade, and
debts ascertained to be worthless, but 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 to conduct any other busl-
ness from which income Is derived; the
amount paid for the rent of the house or
| premises occupied as residence for himself
or his family, and the amount paid out for
usual and ordinary repairs. No deduction
| shall be made for any amount PAID out for
| new buildings, permanent improvements,
or 6etterments made 10 increase the value
OF any property or estate.
SEC. 10. And he it further enacted.
That tie tax hereinbefore provided
shall be assessed upon the gains,
| profits. and income for the year end
| ING Oh the thirt y-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 he due and payable on or before
| the thir5icth day OF April i'll each OF SAID
| years. And in addition to any sum an
! ntlallv due and unpaid after the thlrtieth
! day Of April. and for ten days after notice
| and demand thereof bv the collector. there
| shall be levied and collected, as a penalty,
| the sum OF five Der centum on the amount
| unpaid. and interest on said amount at the
rate OF one per centun per month from ne
! time the same became due, except from the
| estates OF deceased, insane, or lnsoiVent
| persons.
SEC II. And be IL further enacted. That
| it shall be the duty Of every person OF law
| u
! ceding wear exceeded two thousand dol
| lars 10 make and render return on or be-
| fore the day designated by law. 10 the
assistant Assessor OF the district III winch he
| resides. of the gross amount OF his income
| gains, and profits as aforesaid; bur not IN
| Guiding the amount received from any
corporation whose officers, as authorized
by law, withhold and pay as taxes IA
per centum Of the dividends made and OF
the interest or coupons paid by such corpo-
| ration. nor thar portion OF the salary or pay
| received for services in the civil, military,
| naval, or Other service OF the United States
! or as senator, representative or delegate N
| Con gress, from which tax has been deducted,
| nor the wages OF minor children not re-
| ceived and every guardian and trustee. eX
| 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 III the United States. or from
| rents OF real estate situated therein. snail
make and render a return az aforesaid 10 the
| assistant assessor OF the district III which he
resides OF tie amount OF income. gains and
| profits Of arv minor or person for whom he
! acts The assistant assessor shall require
| every such return 70 be verified by the oath
OF the party rendering it. and may increase
! the amount OF any return, after notice to
| snch party, # he has reason to believe that
| tie same is understated. In case any per
| son having a gross income as above. OF two
| thousand dollars or more shall neglect or
refuse to make and render such return, or
| shall render false or fraudulent return,
! the assessor or assistant assessor shall make
| such return. according 70 the best lnio1lLss-
ION he can obtain by the examination OF said
! nerson or OF his books or accounts or by any
Other evidence. and shall adde's a penalty,
! 70 the amotu1 OF the tax dua&heIcOn. nttv
per centlun in all eases OF willful NEGLECT ol
| refusal 10 make and render a return. and
| one hundred Der ccntum in all cases ii a
false or fraudulent return having been ren-
! dere, The tax and the addition thereto a.
! penalty shall ue assessed and collected II
the manner provided for in cases of wll4iUi
! neglect or refusal 10 render a return. o. ct
rcndeEng 4 false or fraudulent return. Bur
10 penalty shall be assessed upon any per-
inr or rendering false or fraudulent re-
turn. except after reasonable notice OF Tie
time and ,lace OF hearing. TO be regulated
! by the Commissioner OF Internal Revenue.
so as TO give the person charged an Oplc
tunitv 10 ne heard: provided. that no col
lector. deputy collector. assessor. or assist
| ant assessor shall permit 70 De published III
anv manner such income returns. or any
part thereof. except such general statistics
In,
firms. as Le NAV make public. under such
rules and regulations rs the Commissioner
of Internal Revenue shall prescribe.
SEC. Il. And ue il further enacted, l hat
when the return OF any person is increased
by the assistant assessor. such person may
exhibit his books and accounts, and be per
mitted to prove and declare, nnder oath
the amount OF income liable 10 be assessed:
but such cath and evidence shall not he 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 such cases, to the
assessor Of the district. and his decision
thereon, unless reversed by the Commissions
er Of Internal Revenue. shall be final. The
form, time. and manner of proceedings snail
be subject 10 regulations to be prescribed
bv the Commissioner of Internal Revenue.
| SEC. -. And he it further enacted, That
any person. III his own behalf, or as such
tiduciary or agent. shall he permitted Il
declare, under oath. that he. or his ward
beneficiary, or principal. was noj 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 ami paid elsewhere
in the same year. under authority
OF tie United States, upon his income
gains, and profits, or those Of his ward
beneficiary, or principal, is required by law:
and if the assistant assessor shall be Sati1
fed of the truth Of the declaration. such per
son shall thercupon he exempt from income
tax in the SAID district.
SEC. H. 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 tins acl
which NAV be derived from their official
enfoluments. or from property in foreign
countries: Provided, That the governments
| which such consulS may represent shan eN
tend similar exemption to c0n>uIs OF th'
United States.
SEC -. And be it further enacted. 1ha'
there shall be levied and collected Tor anC
during the wear eighteen hundred and sew
| enty-one Il tax Of two and one-haT PEI
c4utuln on the amount of all interest 81
| conMDns paid on bonds or other evidences %
debt issued and payable III one or moro
years after date, by any of the corporations
in this section hereinafter enumerated. anC
on the amount OF all dividends Of earnings
income, or gains hereafter declared. by any
bank, trust company, savings INSTITUTION
insurance company, railroad company. cana
J company, turnpike company. canal nav
igatlon company, ana sl2ch-"ate
| company, whenever ami whereNe
the same shall be payable. ant
to whatsoever person the same may be due
including non-residcnts, whether citizens OF