New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-10-11
only one thousand dollars for any year PRIOR

in addition to the exemptions provided II
Y the preceding section, there shall DE 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 .nor.gager; an 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
cluding 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 Dusl
ness from which income is derived; the
amount paid for the rent of the house OF
premises occupied as a residence Tor himself
or his family, and the amount paid out 1or
usual and ordinary repairs. No deduction
shall be made for any amount paid out fol-
\ new buildings, permanent improvements,
or betterments made to increase the value
of any property or estate.
SEC. TO- And be it further enacted,
That the tax herein before provided
shall be assessed upon the gains,
ing on the thrty-tirs day of December next
\ preceding the time for levying and collect
ing said tax, and shall bc 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
h the thrtieth day Of April i'll each OF said
II wears. And in addition TO any sum an
\ nUally due and unpaid after the thlrtleth
II day of April and for ten days after notice
/ and demand thereof by the collector, there
Il shall be levied and collected. as penalty.
\ the sum of five per Centum on the amount
unpaid, and interest on said amount at the
rate OF one per eentum per month from the
time the same became due. except from the
estates OF deceased, insane, or lnsolvent
4 persons.
SEC. H. 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 Il 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 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 coTpO-
| ration, nor that portion OF the salary or pay
| received for services i'll 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-
| eeived; and every guardian and trustee, ex
acting in any other tiducary 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 areturn as aforesaid to the
assistant assessor of the district i'll which he
resides of the amount of income, gains and
profits of any minor or person for whom he
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 ta.-e or fraudulent return.
the assessor or assistant assessor shall make
such return, accOr'iir- to the best intorma
ton he can obtain by the examination of said
person. or of his books or accounts. or by any
other 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
refusal to make and render a return. and
one hundred per centum in all cases of
false or fraudulent return having been rem
dered The tax and the addition thereto as
penalty shall be assessed and collected in
the manner provided for in cases of wiliful
neglect or refusal to render a return. or of
rendering false or fraudulent return. But
no 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 Commissioner Of Internal Revenue,
so "a to give the person charged an oppor
tunitv to DE 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 s1Icn general statistics,
not specifying the Maine, ot individuals or
firms. as he may maxi public, under such
rules and regulations is tie 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 AMI accounts. and be per-
mitted to prove and declare, under oath,
the amount of income liable II 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
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. ID. And be it further enacted. That
any person. in his own behalf, OF as such
fduciary 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 assessed according 10 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 equired by law:
and If the assistant assessor shall be salts
fed of the truth of the declaration, such per
son shall thereuDOn be exempt from income
tax in the said district.
SEC. IA. And be 1t further enacted, That
cOnsuls of torei IN 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
emoluments, or from property in foreign
countries: Provided, That the governments
which such consuls may represent shall eX-
tend similar exemption 70 consuls of the
United States.
SEC. ID. And be 1t further enacted That
there shall be levied and collected for and
during the year eighteen hundred and sew
enty-one tax OF two and Cne-haf per
centum on the amount o. all interest or
coupons paid on bonds or other evidences of
debt Issued and payable II. one or more
years after date, by any OF the corporations
III this section hereinafter enumerated. and
on the amount OF all dividends of earnings.
income, or gains hereafter declared, by any
bank, trust company. savings institution
insurance company. railroad company. canal
company, turnpike company. cana nay
lD4flOn 8 aol for