New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-10-18

uuCtcu IrOm tnc gains, piOHte stiAu AuSoAAAC
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 sus-
tanned during the year arising from fires,
floods. slipwreck. or incurred in trade, and
debts ascertained 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 bust
ness from which income IS derived; the
amount paid for the rent OF the house or
premises occupied rs a residence for himself
or his family, and the amount paid out for
usual and ordinary repairs. No deduction
shall be made for any amount paid out for
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
ing ON the thirty-irs day of December next
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
nually 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 on the amount
unpaid, and interest on said amount at the
rate OF one per centum per month from the
time the same became due. except from the
estates Of deceased, insane, or lnsOlvcnt
persons.
SEC. H. And be it further enacted, That
it shall be the duty OF every person OF law
FIJI age, whose gross income during the pre-
ceding 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 in
GLIDING 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 as senator. representative or delegate in
Congress, from which tax has been deducted
nor the wages of minor children not re-
ceived; and every guardian and trustee. ex
acting in any other fiduciary 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 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 for 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 understated. 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 false or fraudulent return
the assessor or assistant assessor shall make
such return, according to the best infOrma
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 penalty.
to the amount of the tax due thereon. fifty
per centum in all cases of wilflll neglect or
refusal to make and render return. and
one hundred per centum in all eases of a
false or fraudulent return having been rem
dered. The tax and the addition thereto as
the manner provided for in cases of wiliful
neglect or refusal to render a return. or of
false or fraudulent return. But
no penalty shall he 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 as to give the person charged an oppor-
tunity 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. 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 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
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, or as such
or agent, shall be permitted to
declare, under oath. that he, or his ward,
or principal, was not possessed
Of an income of two thousand dollars, liable
10 be assessed according to the provisions of
this act; or may declare that an income
tax has been assessed and paid elsewhere
Of the United States, upon his income,
gains. and profits, or those of his ward,
or principal. as required by law;
md if the assistant assessor shall be salts
led of the truth of the declaration, such per
son shall thereupon be exempt from income
tax in the said district.
SEC IA. And be it further enacted, That
,onsuls 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
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. Is And be it further enacted, That
there shall be levied and collected for and
during the year eighteen hundred and sew
,nty-One a tax OF two and one half per
,entum on the amount OF all interest or
coupons paid on bonds or other evidences OF
iebt issued and payable in one or more
years after date, by any of the corporations
N this section hereinafter enumerated and
IN the amount of all dividends of earnings
income, OF gains hereafter declared, by any
bank, trust company, savings institution,
insurance company, railroad company, canal
turnpike company, canal nav
cation company, and slack-water
company, whenever and wherever
,he same shall be payable, and
20 whatsoever person the same may be due,
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