New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-10-22

Inc StCtloH, tICtS SMUT ~ w |
Quoted from the gains. profits and income I
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 sls-
tanned during the year arising IRON frcs.
floods, shipwrccl, or incurred IN trade, anu
debts ascertaincd to be worthless, but ex- |
Guiding all estimated depreciation of values;
the amount of interest paid during the year,
ard the amount paid for rent or labor to |
cultivate land. or to conduct any other busl-
ness from which income Is derived; tht !
amount paid for the rent OF the house or |
premises occupied as ~ residence lot hlinSeh
or his family, and the amount pald out lor
usual and ordinary repairs. No deduction !
shall be made for any amount paid out for
new buildings, permanent improvements,
or bettcrments made to increase the value
OF any property or estate
SEC. 10. And be il further enacted
That the tax heroinbetore provided
| profits, and income for the year end
ing on the thirty first day of Decembernext
| 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 thirteth day OF April in each of SAID
| years. And in addition to any sum an
| nualv due and unpaid after the tillrtrth
| day of April, and for ten days after notice
and demand thereof by the collector, there
! shall be levied and collected. as a penalty,
! the sum of five per centum on the amount
| unpaid, and interest on SAID amount AT me
| rate of one per centum per month from tne
| time the same became due. except from the
estates of deceased. insane, or insolvent
| persons.
! SEC H. And be II further enacted, That
| it shall be the duty of every person OF law
! full aye, whose gross income during the pre-
| ceding year exceeded two thousand dol
| lars tn make and render return on or he
| fore the day designated by law, to the
| assistant assessor OF the district III "hlch he
resides, of the gross amount OF his income,
\ gains, and profits as aforesaid: but not IN
| GLIDING the amount received from any
| corporation whose officersG as authorized
| by law, withhold and pay as taxes Il
per centum OF the dividends made and OF
| the in terest or coupons pald 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 fls senator. representative or delegate IN
| Congress, from which tax has been deducted,
| nor the wages of minor children not fe-
ceive,i; and every guardian and trustee ex
| ecutor or administrator. and any person
acting in any other tiducary capacity. or as
! resident agent for, or copartner OF, any non
| profits from any business, trade or probes
| sion carried Oh in the United States, or from
| rents of real estate situated therein, sh;tI
| make and render return as aforesaid to the
| assistant assessor OF the district in which he
resides of the amount of income, gains anu
| 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 10
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, OF
shall render a false or fraudulent return,
the assessor or assistant assessor shall make
such return, according to the best lntorma-
ton he can obtain by the examination OF sad
person, or of his books or accounts, by any
other evidence, and shall add. as a penalty.
to the amount of the tax due thereon, nifty
per centum in all cases OF wllLiul neglect or
refusal to make and render Il return and
one hundred per ce!ltunl Ill all cases Oh
false or fraudulent return having been rem
dered. The tax and the addition thereto a.
penalty shall be assessed and collected III
the manner provided for i'll cases OF viltul
| neglect or refusal to render a return, or OF
rendering false or fraudulent return. But
no penalty shall he assessed upon any per
! son for such neglect or refusal. or for max
inc or rendering false or fraudulent re-
turn except after reasonable notice OF the
time and place of hearing, to be regulated
bv the Commissioner of Internal Revenue.
SO as to give the person charged an oppor-
tunty to be heard provided, that no 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 l.. And be it further enacted. That
I 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 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 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. b. And be it further enacted, That
any person, in his own behalf, or ms such
J | fiduciHy or agent. shall be permitted to
r declare under oath, that he, or bus 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
= | in 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;
= | and if the assistant assessor shall be salts
: fed of the truth of the declaration. such per
f son shall thereupon be exempt from income
+ tax in the said district.
Q SEC. a. And be it further enacted, That
i, cons,,ls of foreign governments who are not
r citizens of the United States shall be exempt
I | from any income tax imposed by this act
@ which may be derived from their official
4 emoluments, or from property in foreign
= countries: Provided, That the government:
v which such consuls may represent shall eX
q tend similar exemption to consuls OF the
d United States.
T SEC. Is. And be it further enacted. Tha
# there shall be levied and collected for ant
:, during the year eighteen hundred and sew
3, enty one a tax of two and Onc-haif pc
+ ceDtum on the amount OF all interest o.
# coupons paid on bonds or other evidences o
g debt issued and payable i'll one or more
e wears after date, by any of the corporation
l. in this section hereinafter enumerated, ant
It on the amount of ali dividends of earnings
: income, or gains hereafter declared. by an,
bank, trust company, savings institution
insurance company, railroad company. cana
# company, turnpike company, canal nav
Y igation company, and slack waite
), company, Whenever and whereve