New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-11-16

uNtltu llf'nI we gains. tiIo.ll- anu income
OF ava person all national. State, county
and municipal taxes paid by INN within the
wear. whether such person be owner. tenant
or mortgagrr: all his LOSSES actually sus-
tanned during the year arising from fires.
floods. ,hipwreck. o. incurred i'll trade, and
drnt@ aSccrtai1lui TO he worthless. but cN-
cjHdin" ali estimated depreciation Of values:
the amount of interest paid during the year,
and the alu"unt paid for rent or Labor T."
cuitlyalr land. Or to conduct anv other bust
ness from which income Is derived; the
amount paid for IT," rent at th' house or
premises occupied - residence for him>cl!
or h,- family. AMI the amount paid "nt tor
,i-Ha! AMI ordinary repairs. No deduction
-hai! ur made for any amount paid ont for
new buildings permanent :iniro! ca"nt>.
OF hcj.,.vmcnt, made Ia increase the Waite.
"t any property or estate.
SEC H. Ani b. il further r,i,ct"h.
lha: the tax heirinhctoro pro>idci
shat! o. assessed upon til" gains.
profits. an,; inc"ln" for the year end
III. on ne thirty frs. d.tv of December ne II
preceding. the time FOR levN;ng and collect
ina said tax. and shall hc lc. led on IT," .i:-,
.iav o. March. eighteen hundred and seven
,v-on,. :,rh eighteen hundred and Seventy
two. ani hs Guc and payable on or before
the 'hi.'i"tii d..; of April in each of SAID
vrl:-. And iii addition 10 amy sun an
nuaily due and unpaid ;ttcr the thirtir:ii
day If April. and t"r ten days after n"il,','
and demand thereof by In" collector there
shall be lev irh and collected. as II penalty.
:;n aun of ;vr Isr ccltlim on the amount
unpaid. and interest On said amount at the
rat" q: onr per ceIItu!n per month ir"iI the
time the same became due. except from the
estates et deceased. insane. or ln>ol>cnt
persons.
t.. nV.,I That
il shall be the duty of every person oil law
ful age. whose gross income during the pre-
rr.liuy year exceeded two Thousand dol
Lars. 10 make and render Il return on or he
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 rs aforesaid; but not IN
Guiding Ill" amount received from any
corporation whose officers. is authorized
by law. withhold and pay as taxes 4
per ccntu,n of the dividends made and o.:
tie intcr"-. or coupons paid by such c"il"-
ration nor that portion of the salary or pay
received for services i'll the civil. military.
naval or othrr service OF the United States.
or ~ senator. representative or delegate Ill
Cen .Gcss. from which ia X has been deducted.
nor the wages of minor children not Re
ceivrd: and every guardian and trustee. OK
ecut"r or administrator. and any person
actin. in any other ti'luciary capacity, or a.
resident agent for. or copHrtncr Of any non
resident alien, deriving income. gains and
profits from any business. trade or probes
sion carried OF in the United States. or from
rcut- of real estate situated therein. shall
make and render ai.turn as aforesaid to the
assistant assessor of the district III which he
resides of the amount OF income. gains aud
profits of any minor OF person tor whom he
acts, Tho assistant assessor shall require
every such vct,!rn to be verified by She oath
Of the party rendering it. and may increase
the amount q. any return. after notice to
such party. il he has reason to believe that
the same is undcrstateI. In case any per
son having Il gross income as above. OF tw"
Thousand dollars or more. shall ne .lcct OF
refuse "a make and rcndr. such return. or
shall render "A false or fraudulent return.
the Assessor or assistant aS~c>>Or-hlll make
such return. according 70 the best Informal
ton he. can obtain by the examination of said
person. or of hi, books or accounts. orbv any
other evidence. aud shall add. IL Il penalty.
- the amount of the tax due thereon. nitN
per c"ntum in all ca-t- o: "-il}tul neglect or
refusal to make and render a return. aud
one hundred yer ccntuln III all casts OF {,
falls" oi fraudulent return having been rem
d"rci. The tax and the addition thelct" a
Iclairv shall I've assessed and collected in
the manner provided for III cases of wiliIu!
neglect or refusal to render "a return. or ol
Icndrrin. Il false or fraudulent return. But
10 penalty shall hc assessed upon any per
sou for such neglect OF refusal. or t"l max
ing or rendering a false or fraudulent re-
turn. except after reasonable notice of the
tim. aud place Of hearing. to hc regulated
bv the Commissioner of Internal Revenue.
a, to give the person charged IN uppor
tunity TO be heard; provided. that no col
!c,tor. deputy collector. assessor, or assist
ant ;s-c->,T shall permit to be published III
any manner such income returns. OF any
part thereof. except SUCH general statistics.
not specifying the names ot Individuals or
t,m- a, he MAY make public. under -iIciI
rules ami regulations IL the Commissioner
OF Internal Rcvenue shal! prescribe.
ST. L.. And hr it further enacted. That
hen the return OF any pc!> Is Increased
by the a>S-tan, assessor such person may
exhibit his book and accounts. and be per-
mittcd to prove and declare. under oath.
the amount OF income liable ~ be assessed:
but such oath and evidence shall not he con
elusive of the facts. and no deductions
claimed in -ucii cases shall I've allowed until
approved by the assistant assessor. ANY
person may appeal t!o,I the decision of the
assistant assessor, III such cases. to the
,>scS>or of the district. and his decision
thereon, unless rcvel >cd lv the Commissions
cr of Internal Revenue. shall be final. The
form. time. and manner of proceedings shall
be subject to regulations t" be prescribed
by the Commissioner of Internal Revenue
SEC. -. And be it further enacted. That
any person. in his own behalf, or as such
fiiuciary 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 a>sc -Sc1 according to the provisions Of
this act: or NAV declare that an income
tax has been assessed and paid elsewhere
i'll the same year. under authority
of the United States. upon his income
gains and profits or those of his ward
or principal as required by law:
and ii the assistant assessor shall be salts
fed of the truth of the declaration. such per
son shall tlcrrupon be exempt from income
tax i'll the said district.
SEC. H. And be it further enacted. That
consul- of foreign governments who are n",
citizens of the United States shall hcexe,mpt
from any income tax imposed by this act
which may be derived from their official
cm0l,imcnt>. Or from property III foreign
countries: Provided. That the governments
which such con-uls may represent shall rN-
tend similar exemption tn consul, of the
United States.
SIC H. And b. il further enacted, That
there shall lac levied and collected for and
during the year eighteen hundred and SEA,
cnty-onc u YAK OF two and nchalt lCr
ccntum on the amount OF all interest or
coupons pad on bonds or other c> idcncr- Of
debt issued ana payable in one or more
wears after date. by amy Of the corporations
in this section hereinafter enumerated. and
on the amount Of all dividends Of earnings.
income. or gains hereafter declared. hy any
bank, trust company. savings institution.
insurance company. railroad company. canal
company. turnpike company. canal n:,.-
ioaton company. and -lack-watcr
COMPANY. whenever and wherever
the same Shall hc payable. and
= i, ,rI,.,u..,..- ,,.,sun tL. s,,u. may H.. ,I,,.