New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-11-12

only n thousand dollars for any year prior
to eighteen hundred and seventy.
SEC. g.. And be it further enacted. That
IN addition to the exemptions provided Ii
the preceding section, there shall be de-
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,
floods, 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 bust
ness from which income is derived; the
amount paid for the rent of the house or
premises occupied as a 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 bettcrinents made to increase the value
of any property or estate.
SEC. 10. And be it further enacted
That the tax h~ereinbefore provided
shall be assessed upon the gains.
ing on the ~thirty-first day of December next
preceding the time for lcvying 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 thirtieth day Of April in each Of said
years. And in addition to any sum an
nually due and unpaid after the thirtieth
day of April, and for ten days after notice
and demand thereof by the collector, there
shall be levied and collected. as a penalty,
<sn o,,u, ~ Hx-ny >nn OnukVsv, ~, thu aVnnyIyyf
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 of deceased, insane, or insOlvent
persons.
SEC. IL. 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 year exceeded two thousand dol
lars, to make and render q return Oh or be-
fore the day designated by law, to 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, 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
for services in 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-
ceived; and every guardian and trustee, ex
ecutOr or administrator, and any person
acting in any other fiduciary capacity, or as
resident agent for. or cOpartner of, any non
resident alien, deriving income, gains and
profits from any business, trade or profess
sion carried on in the United States, or from
rents of real estate situated therein. shall
make and render a return as aforesaid to the
assistant assessor of the district in which he
resides of the amount of income, gains and
profits of any minor or person for whom he
acts. The assistant assessor h a require
every such return to be verified by the oath
Of the party rendering it, and may increase
the amount of any return, after notice to
such party, if he has reason to believe that
the 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 q false or fraudulent return,
the assessor or assistant assessor shall make
such return. according to the best infOrma-
person, or of his books or accounts. or by any
evidence, and shall add, as a penalty,
to the amount of the tax due thereon. fifty
per centum III all cases of willful neglect or
to make and render a return. and
one hundred per centum in all cases OF a
or fraudulent return having been rem
dered. The tax and the addition thereto as
shall be assessed and collected i'll
the manner provided for in cases of willful
neglect or refusal to render a return, or of
rendering a false or fraudulent return. But
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 COMMISSIONS 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
assessor shall permit to be published in
any manner such income returns, or any
part thereof, except such general statistics,
specifying the names Of individuals or
as he may make public. under such
and regulations as the Commissioner
Of Internal Revenue shall prescribe.
SEC. II. 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-
to prove and declare. under oath,
the amount of income liable to be assessed:
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
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 Commission
er Of Internal Revenue, shall be final. The
time, and manner of proceedings shall
be subject to regulations to be prescribed
by the Commissioner of Internal Revenue.
SEC. l3. And be it further enacted, That
any person, in his own behalf, or as such
or agent, shall be permitted to
under oath, that he. or his ward,
beneficiary, or principal, was not possessed
to be assessed according to the provisions of
this act; or may declare that an income
has been assessed and paid elsewhere
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;
if the assistant assessor shall be salts
of the truth of the declaration. such per |
ION shall thereupon be exempt from income
in the said district.
Sec. IA. And be it further enacted, That
Of foreign governments who are not
,itizens of the United States shall he exempt
rom any income tax imposed by this act
may be derived from their official
or from property in foreign
countries: Provided, That the governments
such consuls may represent shall ex-
end similar exemption to consuls Of the
Uuited States.
SEC. Is. And be it further enacted, That
here shall be levied and collected for and
Turing the year eighteen hundred and sew
a tax of two and Onc-half per
,cntum on the amount OF all interest or
paid on bonds or other evidences of
iebt issued and payable in one or more
years after date, by any Of the corporations
this section hereinafter enumerated, and
IN the amount of all dividends of earnings,
income, or gains hereafter declared. by any