New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-11-09

to eighteen hundred and seventy.
SEC. 9. And lie it further enacted, That
in addition to the exemptions provided IN
the preceding section, there shall DO de-
Quoted from the gains, profits and income
Of any person all national, State county
and municipal taxes paid by him within the
wear, whether such person be owner, tenant
or mortgager; all his losses actually sus-
tanned during the year arising from fires,
floods, skipwreck, or incurred III trade, and
debts ascevtained to bc 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 bnsl-
ness from which income Is derived; the
amount paid for the rent OF the house or
premises occupied as residence Tor himself
or his family. and the amount paid out for
usual and ordinary repairs. No deduction
shall he made for any amount paid ont Tor
new buildings. permanent improvements,
or betterments made to increase the value
OF any property or estate.
SEC, 10. And be it further enacted.
That the tax hereinbefore PROVIDED
shall be assessed upon the gains,
profits. and income for the year end
inc on the thirty-irst day of December ne vt
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 be due and payable on or before
the thirtieth day OF April in each OF said
years. And III addition to any sum an
nu:lly 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 penalty,
the sum OF five per centum Oh the amount
unpaid, and interest Oh said amount at the
rate OF one per centum per month from the
time the same became due, except from TIE
estates OF deceased, insane, or lnsoivent
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-
cetiing year exceeded two thousand dol
lars, to make and render "a return on 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 III
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
received for services in the civil. military,
naval, or other service OF the United States,
or az senator, representative or delegate III
Congress. from which tax has been deducted,
nor the wages Of minor children not re-
eeived; 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 ron
resident alien, deriving income. gains and
profits from any business. trade or protes-
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 in which he
resides of the amount of income, gains and
profits OF any minor or person tor whom he
acts. The assistant assessor shall 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 under>tated. In case any per
son having 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 informal
ton he can obtain by the examination OF said
person. or Of his books or accounts or 10y any
other evidence, and shall add, as Il penalty.
to the amount OF the tax due thereon. fifty
per centum in all eases OF willful ne9lee. or
refusal to make and render a return. and
one hundred per centnm III al cases OF a
false or fraudulent return having been rem
dered. The tax and the addition thereto as
penalty shall be assessed and collected i'll
tn manner provided for in cases Of wilful
neglect or refusal to render return, or OF
rendering a false or fraudulent return. But
no penalty shall be assessed upon any per-
son for such neglect or refusal. or Tor max
ing or rendering o 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,
SO as to give the person charged an oppor-
tunity TO be heard: provided. that 10 col
lector. deputy collector, assessor. or assist
ant assessor shall permit TO be published in
any manner such income returns. or any
part thereof, except such general statistics,
not specifying the names Of individuals or
firms, as he may make public. under such
rules 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-
mitted to prove and declare, under OATH
the amount of income liable To be assessed:
but such oath and evidence shall not be CON
elusive of the facts, and no deductions
claimed i'll such cases shall be allowed until
approved by the assistant assessor. ANY
assistant assessor. i'll such cases, 10 the
assessor Of the district. and his decision
thereon, unless reversed by the Commission
er of Internal Revenue, shall be final. The
form. time, and manner OF proceedings shall
be subject to regulations TO be prescribed
by the Commissioner of Internal Revenue.
Sec. ID. And be it further enacted That
any person, i'll his own behalf. or as such
tiduciary or agent, shall be permitted 20
al fhnt 10 +, .,,,1
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
III the same wear, under authority
Of the United STAGES, upon his income
gains. and profits, or those of lis ward |
beneficiary, or principal, as required by law;
and if the assistant assessor shall be salts
fed Of the truth of II e declaration, such per
son shall thereupon be exempt from income
tax in the said district.
SEC. IA. 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
emolnments. or from property in foreign
countries: Provided, That the governments
which such consuls may represent shall eX-
tend similar exemption to cOnsuls Of the |
United States.
Sec. l5 And be it further enacted, That |
there shall be levied and collected for and |
during the year eighteen hundred and sew
enty-One a tax OF two and one-half per |
centum on the amount Of all interest or
coupons paid on bonds or other evidences OF |
debt issued and payable in one or more |
years after date, by any Of the corporations
in this section hereinafter enumerated, and |
en- the amount of all dividends of earnings, |
income, or gains hereafter declared. by any |
bank, trust company, savings institution. |
company, railroad company. canal |
company, turnpike company, canal nav