New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-10-19

LAWS OF THE UNITED STATES.
Passed at the second Session OF the
Forty .first Congress.

AN ACT 10 reduce internal taxes, ana ior
other purposes.
Be If enacted by the Senate and House Of
Representatives of the United States OF
Arlelica il Congress assembled, Ihat
on and after the first day OF May, eighteen
hundred and seventy-one, The special taxes
imposed b. the seyenty-nlnth section Oh
the act entitled An act to provide III
ternal revenue to support the govern
ment. to pay interest on me puphG
debt. and for other purposes approved
June thirty, eighteen hundred and sixty
four. as amended by section nine Of the in
ternaI revenue act approved July thirteen.
eighteen hundred and siXty-siX. and as
amended by section two Of the internal
revenue act approved March two eighteen
hundred and s;Xty-seven, be and the same
are hereby repealed: but this act shall not
he held to repeal or in any way affect the
special tax on brewers imposed by sad sec
ton, or the special taxes imposed by the
act approved July twenty, eighteen hun
dred and sixty eight, entitled An act M
posing taxes on distilled spirits and tobacco,
and for other purposes, Or the acts amenud-
tory thereof
SEC. ,. And be It further enacted. That
on and after the ri-st day of October, elght-
cen hundred and seventy, the several taxes
on sales imposed by the internal revenue
laws now III lOltt, SdN .tlil i'tiii-
such taxes on sales aS are by existing law
paid bv stamps. and the taxes on sales OF
Leaf tobacco, man ltactured tobacco, snuf,
cigars. foreign and domestic distilled spirits.
and wines, imposed by said act. approved
july twenty, eighteen hundred and sixty
eight, and acts amendatory thereof, be, and
the same are hereby, repealed.
SEC 3. And be it further enacted. That
on and after the first day of October.
Y In .,N-
imposed by the internal revenue laws. now
in force. herein specified. he, aud the same
are hereby, repealed, namely: on articles i'll
schedule A; the special tax on boats. bargcs.
and flats; on legacies and sGccesSion>; on
passports and on gross receipts.
SEC. I. And be ii further enacted. That
on and after the first day of October,
eighteen hundred and seventy, the stamp
tax imposed in schedule y on promisSory
notes tor q less sum than one Luhdred
dollars, and ON receipts tor any sum of
money. or for the payment OF any dent,
and the stamp tax imposed in schedule G.
on canned and preserved fish. be. and the
same are hereby, repealed. And no stamp
shall be required upon the transfer or as
signment of ii mortgage, where 1t or the III
strument it secures has been once duly
stamped. And the proprietor or proprietors
OF ARTICLES named i'll said schedule Z, who
shall furnish his or their own die or design
for stamps 10 be used especially for his or
their own proprietary articles, shall be
allowed the following commissions, namely:
On amounts purchased at one time OF not
less than fifty dollars nor more than five
hundred dollars, ten per centum on the
whole amount purchased /: Provided. That
luciter or friction matches and cigar lights,
and wax tapers. may he removed from the
place of manufacture for export to a foreign
country without payment OF tax. or atfixlng
STAMPS thereto. under such rules and regu-
lationS is the Commissioner OF Inter
nal Revenue may prescribe; and all pro
visions Of existing laws inconsistent here
with are hereby repealed.
SEC. ). And be II further enacted. That
section one hundred and tifty-e.lt OF the
act entitled An act to provide internal rev
enue 10 support the government. 70 pay III
terest on the public debt. and for other pui
poses" approved June thirty. eighteen hun
bred and sixty four. us amended by section
nine OF the internal revenue act, approved
July thirteen, eighteen hundred and sixty
six. be- and is hereby. amended by striking
out the words fifty dollars Ill the second
proviso, and inserting in lieu thereof tine
following: double the amount of tax re
naming unpaid, bit i'll 10 case less than
five dollars also, by striking out the words
'.sixty-six'' in the third prOviso and insert
ing in lief thereof the words ''seventy-one;
also, by striking out the words ''SiNtE
seven" in the last proviso, and inserting III
sorting in lieu thereof the words seventy
two"
SEC. 6. And be it further enacted, That
there shall be levied and collected annual
", as hereinafter provided, for the years
eighteen hundred and seventy and eighteen
hundred and sevcnty-one. and no longer,
tax of two and one-half per centum upon
the gains. profits and income of every per
son residing in the United States, and Of
every citizen of the United States residing
abroad. derived from any source whatever,
whether within or without the United
States, except as hereafter provided, and a
like tax annually upon the gains. profits
and income derived from any business.
trade or profession carried on in the United
States by any person residing without the
United States, and not a citizen thereof. or
from rents of real estate within the United
States owned by any person residing with
out the United States, and not Il citizen
thereof.
SEC. 7. And be it further enacted. That
in estimating the gains, profits, and income
of any person. there shall be. included all
income derived from any kind of property,
rents, interest received or accrued upon all
notes, bonds, and mort cages. or other forms
Of indebtedness bearing interest. whether
paid or not. if good and cOilectable, interest
upon notes. bonds. or other securities OF the
United States; and the amount Of all pre-
MUM Oh gold and coupons; the gains,
profits and income Of any business, pro-
fession, trade, employment, office, or voca-
ton; including any amount received as
salary or pay tor services in the civil, mill
tary, naval, or other service OF the United
States, or as senator. representative or dele
gate in Congress; except that portion there
of from which; under authority of acts of
Congress previous hereto. Il tax of five per
centum shall have been withheld; the share
OF any person OF the gains and profits,
whether divided or not, of all companies or
partnerships, but not including the amount
received from any corporations whose
officers, as authorized by law, withhold and
pay as taxes a per centum of the dividends
made, and OF interest or coupons paid by
such corporations; profits realized within
the year from sales OF real estate purchased
within two years previous to the year for
which income Is estimated; the amount OF
sales of live stock, sugar, wool butter.
cheese, pork. beef, mutton or other meats.
hay and grain, fruits, vegetables, or other
productions, being the growth or produce OF
the estate OF such person. but not including
any part thereof consumed directly by the
family: and all other gains, profits and in
come drawn from any source whatever, but
not including the rental value of the home
stead used or occupied by any person, or By
his family.
SEC. 8. And be it further enacted, That
military or naval pensions allowed to any
person under the laws Of the United States.
and the sum of two thousand dollars OF the
gains, profits and income OF any person,
shall be exempt from said income tax, i'll
the manner hereinafter provided. Only
one deduction of two thousand dollars shall
be made from the aggregate income of all
tba n,ambers of any family cO,nO0Sed OF one