New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-10-20
OF FICIAL.
LAWS OF THE UNITED STATES.
Passed mt the second Session Of the
FOrty-6rst Congress-.
TBrHL!C-NO, l64.1


AN ACT to reduce internal taxes, and fol
other purposes.
BE il enacted by the Senate and House OF
REPRESENTATIVES, of the United States OF
America i'll Congress assembled. That
on and after the first day of May, eighteen
| hundred and seventy-one, the special taxes
imposed BY the seventy ninth section OF
| the act entitled IAN act to provide III
teInal reycnue to support the govern
meut. to pay interest on the pubic
debt and for other purposes approved
June thirty, eighteen hundred and sixty
| four. as amended by section nine of the in
ternal revenue act approved July thirteen,
eighteen hundred and siXty-siy, and as
amended by section two Of the internal
revenue act approved March two eighteen
hundred and sixty-seven, be and the same
are hereby repealed: but this act shall not
| be held TO repeal or in any way affect the
special tax on brewers imposed by said sec
ton, or the special taxes imposed by the
act approved July twenty. eighteen hun
bred and siXtv- eight, entitled IAN act i'm
| posing taxes on distilled spirits and tobacco,
and for other purposes or the acts amenda-
tory thereof.
SEC. 2. And be it further enacted, That
on and after the first day of October, eight
cen hundred and seventy, the several taxes
/ on sales imposed by the internal revenue
|
| such taxes on sales as are by existing law
| paid by stamps, and the taxes on sales OF
| leaf tobacco manufactured tobacco, snuff,
| cigars Ioreikn 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 arr hereby. repealed
| SEC B. And be il further enacted. That
on and after the first day of October,
| eighteen hundred and seventy, the taxes
| imposed by the internal revenue laws, now
| in force, herein specified, he. and the same
| are hereby. repealed, namely: on articles in
| schedule AL the special tax on boats, barges,
| and flats; On legacies and suggestions; on
passports: and on gross receipts.
SEC a. And be it further enacted. That
on and after the first day Of October,
| eighteen h indred and seventy. the stamp
| tax imposed in schedule Il on promissory
notes for a less sum than one huRdred
dollars. and on receipts tor any sum of
| money or for the. payment of any debt,
| and the stamp tax imposed i'll schedule T.,
| on canned and preserved fish, be. and the
same are h ereby, repealed. And no stamp
shall be required upon The transfer or as
| sgnment OF "a mortgage, where it or the in
strllment It secures has been once duly
stamped. And the proprietor or proprietors
of articles named in said schedule c, who
| shall ftlrul sh his or their own die or des gu
! for stamps TO be used especially for his or
| their owII 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
| lucifer 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 aitlXlng
| stamps thereto, under such rules and regi-
| lations as the Commissioner OF Inter
| nal Revenue may prescribe; and all pro
| visions Of existing laws inconsistent here
| with ara hereby repealed.
| SEC ). And be it further enacted, That
| section one hundred and iitty-eight of the
| act entitled IAN act to provide internal rev.
| enue to support the government. to pay III
| terest on the public debt. and for other Dul-
| poses" approved June thirty. eighteen hun
| drcd and sixty. four. as amended by section
nine OF IL" internal revenue act, approved
| July thirteen, eighteen hundred and sixty
six. he. and is hereby, amended by striking
out the words Fifty dollars in the second
proviso. and inserting. in lieu thereof the
| following: double the amount OF tax re-
| manning unpaid, but in no case less than
! five dollars" also. by striking out the words
'.sixty-six" in the third proyiso, and insert
ing in lief thereof the words seventy -onc:'
| also. by striking out the words sixty
| seven" IN the last proyi,o, and inserting in
| sorting III lieu thereof the words seventy
| two"
| SEC g. 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 seventy one, and no longer, a
| 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 bE any person residing without the
United States, and not citizen thereof, or
from rents of real estate within the United
States Owned by any person residing with
out the United States, and not citizen
thereof.
SEC 4. And be it further enacted. That
in estimating the gains, profits, and income
of any |bersOn, there shall be included all
income derived from any kind of property,
rents, interest received or accrued upon all
notes, bonds. and mortgages, or other forms
of indebtedness bearing interest. whether
paid or hot, if good and collcctable, interest
upon notes, bonds, or other securities Of the
United States; and the amount of all pre-
MUM on gold and coupons; the gains,
profits, and income of any business, pro
tession, 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, q tax OF tive per
centllm shall have been withheld; the share
of any person Of the gains and profits,
whether divided or not, of oil companies Or
partnerships, but not including the amount
received from any corporations whose
otficersb as authorized by law, withhold and
pay as taxes a per ce1tum 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 irc!uding the rental value of the home
stead used or occupied by any person, or by
his family.
SEC g. 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, in
the banner hereinafter provided. Only
one deduction of two thousand dollars shall
be made from the aggregate income OF all