New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-10-20

only one thousand dollars for any year prior
to eighteen hundred and seventy.
SEC. 9. And be it further enacted, That
IN addition to the exemptions provided III
the preceding section, there shall be de-
Quoted from the gains. profits and income
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 su'-
tanned during the year arising from fires.
hoods, shlpwrcck, OF incurred IN trade. and
debts ascertaincd to be worthless. but eX-
Guiding ali estimated depreciation OF values
the amount of interest paid during the year,
ana the amount paid for rent or labor 20
cultivate land, or to conduct any other bust
ness from which income Is derived; tn"
amount paid for the rent OF the house or
premises occupied as residence for himself
or his family. and the amount paid out Tor
usual ana ordinary repairs. No deduction
shall be made for any amount pald ont Tor
new buildings, permanent improvements
| or befterments made 10 increase the value
| OF any property or estate.
! SEE. 10. And be it further enacted
That the tax hcreinbeforc provided
shall be assessed upon the gains
| profits. and income for the year end
| ing on the tairty-tirst day of December next
! preceding the time for leyyng and collect
| ing said tax, and shall be levied on the Hrst
day OF March. eighteen hundred and seven
| ty-one and eighteen hundred and seventy
two, and be due and payable on or before
| the thlrtlcth day of April in each OF sad
| years And in addition to any sum an
nually due and unpaid after the thiitleth
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 c"ntum on the amount
! unpaid, and interest on said mount at the
| rate OF one per centum per month from the
| time the same became due, except from the
| estates OF deceased insane. or iusolvcnt
| persons.
SEC. II. And be it further enacted. That
1T shall be the duty of every person OF law
| tut age, whose gross income during the pre-
cedlng 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
| Guiding the amount received from any
| corporation whose officers, as authorized
By law, withhold and pay as taxes a
| per centlIm 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 III
| Congress. from which tax has been deducted,
| nor the wages OF minor children not re
ceiyed; and every guardian and trustee. ex
| ecutor or administrator. and any person
| acting in any other tiduciary 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 a 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 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 to
| slich 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 q false or fraudulent return,
| the assessor or assistant assessor shall make
| such return, according TO the best lutOrma-
| ton he can obtain by the examination of said
! person OF OF his books or accounts, or by any
| other evidence, and shall add, as Il penalty.
TO the amount of the tax due thereon. fifty
| per centum IN all eases of Willtul neglect or
| refusal to make and render a return and
! one hundred per centum i'll all casts of a
| false or fraudulent return having been ren-
| derrd. The tax and the addition thereto q,
! penalty shall be assessed and collected III
! the manner provided for in cases of willtul
| n"g lact or refusal to render a return. or of
rendering a 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.
| 50 rs 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. rs 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
assessor of the district, and his decision
thereon, unless reversed by the Commission
| cr 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. l3 And be it further enacted, That
| any person. i'll his own behalf or as such
| tiduciary 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 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
| son shall thereupOn be exempt from income
| tax in the said district.
SEC. IA. And be it further enacted, That
| consuls 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
! emoluments, 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
| enty-one tax of two and one-half per
| centum on the amount OF all interest or
coupons paid ON bonds or other evidences of
debt issued and payable in one or more
years after date, by any OF the corporations
| in this section hereinafter enumerated, and
| on the amount of all dividends of earnings,
| income or gains hereafter declared, by any