New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-07-27
THE NEW TAX BILL.


THE NEW TAX BILL.
Some Of the Main Features of the New
Law.
Some of the features Of the tax and tariff
bill which passed Congress at the last SEES
sion are as follows:
On and after the first of May, 1871, the
special taxes imposed by the nineteenth sec
ton of the internal revenue act, approved
june 30, 1864, and as amended by suose
uuent acts, are to be repealed; but this ACT
shall not be held to repeal or in any way |
affect the special taxes imposed BY the act
of 1868 imposing taxes on distilled spirits |
and tobacco, and for other purposes, or the
acts amendatory thereof.
On and after the first day of October next,
the several taxes on sales, saving and ex-
cepting such taxes on the sales as are ny
existing laws paid by stamps, and the
taxes on sales of leaf tobacco, manu-
featured tobacco, snuff, cigars, foreign
and domestic distilled spirits and wines, I'M
posed by said act, approved July g. and the
acts amendatOry thereof, be and the same
are hereby repealed.
On and after October l next the stamp
tax imposed in schedule on promissory
notes for less sum than SlOO, ana on re-
CENTS for any sum of money or for payment
of any debt, and the stamp tax imposed IN
schedule C on canned and preserved fish, be
and the same are hereby repealed. And no
stamp shall be required upon the transfer or
assignment of a mortgage where 1t or the
instrument it secures has once been duly
stamped. And the proprietor or proprlet0rs /
named in schedule C who shall furnish his
or their own die or design for stamps to be
used especially for his or their own proprie-
tary articles. shall be allowed the following
commissions, namely: On amounts pur-
chased at one time of not less than sou nor
more than $500, five per centum; and on
amounts over $500, ten per centum on the
whole amount purchased; provided, that
lucifer or friction matches may be removed
from the place of manufacture for export to
a foreign country without the payment OF
the tax or the afixing Of stamps thereto,
under such rules and regulations as the
Commissioner of Internal Revenue may pre-
scribe; and all provisians OF existing laws
inconsistent herewith are repeated
On and after the first day Of October next
the taxes imposed by the internal revenue
laws now in force herein specified by the
same, are hereby repealed, namely: On arti-
.cles in schedule A; the special tax on boats,
barges, and flats; on legacies and succas-
sions; on passports, and on gross receipts
There shall be levied and collected annu-
ally. as hereinafter provided, for the years
1870 and 1871, and no longer, two and a halt
per centum upon the gains and profits and
income of every person residing in the United
States. and Of any citizen of the United
States residing abroad, derived from any
source whatever, whether within or without
the United States, except as hereafter pro-
vided. and a like tax annually upon the gain,
profits. and income derived from any bust
ness, trade, or profession carried on in the
United States by any person residing without
the United States and not citizen thereon.
or from rents of real estate within the United
States owned by any person residing without
the United States and not citizen thereof.
There is one exception of $1,000, and also the
amount. of rent paid for dwelling houses.
Z For the purpose Of allowing the deduction
allowed by law from the income OF any rell-
gious or social community holding all their
property and income therefrOm jointly and
in common each five OF the persons COM
posing such society, and any remaining
fractional number OF such persons less than
to constitute a family, and a deduction OF
$1,000 shall be allowed for each Of said faml-
. lies. Any taxes on the incomes, gains, ana
profits Of such societies now due and unpaid,
shall be assessed and collected according to
this provision; and the tax upon dividends
of insurance companies shall not be deemed
due until such dividends are payable, either
in money or otherwise; and money returned
by mutual insurance companies to their
pOlicy-hOlders, and annual or semi-annual
interest allowed or paid to the depositors of
savings banks or savings institutions, shall
not be considered as dividends.
On coffee, all kinds, three cents per
pound; teas of all kinds fifteen cents per
pound; on all molasses five cents per gallon;
on tank bottom syrup of sugar-cane juice,
melado, concentrated meladO, and concen
frated mOlasses, one and a half cents pei
pound; on all raw or muscovadO sugar, no
above No. Dutch standard in color, and OF
syrup of sugar-cane, melado or concentrated
meladO molasses, one and three-quarte
cents per pound; Oh all raw or muscovad
sugar above No. I Dutch standard in color
and not above No. 10 Dutch standard il
color two cents per pound: on all other su
gar above No 10 Dutch standard in colo
and not above No. Is Dutch standard, tw
and quarter cents per pound; ON all othe
sugars above No. Ii Dutch standard in colo
and not above No. Is in color, two and three
quarter cents per pound; on all other suga
above No l6 Dutch standard III colo
and not above No. 20 Dutch standard !
color, three and quarter cents per pound
on all above No. 20Dutch standard III colol
and on all refined, loaf, lump, crushed. pow
.dered and granulated sugar, four cents pc
pound; provided that the Secretary OF tn
Treasury shall by regulations prescribe an
require that samples shall be taken by TIN
the inspectors from the hogshead, box o
other package in such manner as to repre-
sent a true average OF contents Of packag
and from sufficient number of package
of the same mark in each and every invoic
so that the samples on which the classified
ton is made shall be a fair average il
quality of the sugar imported under tina
mark, and the classification shall be ad
Judged on the entire mark accordingly an,
the weights on sugar imported in casks o
boxes shall be marked distinctly by tn
Customhouse weigber by scoring the figure
indeliblv on each package.
On al wines imported in casks contain
ing not more than twenty-five per cent O
alcohol and valued not exceeding forty cent
gallon, twenty-five cents gallon; value'
above forty cents and not over one dollar
sixty cents gallon; valued at over on
dollar gallon, one dollar gallon; and il
addition thereto twenty-five per cent a,
-valorem.
On wines of all kinds imported in bottles
not otherwise provided fox, tie salLe III.
per gallon as wines imported in casks, bu