Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1872-06-10
section one hundred and fifty-eight of
the internal revenue laws.
RRuE Taxea

! Section 81. That the taxes imposed by
section one hundred and ten OF the act
entitled "An act to provide internal rev.
eBae to support the government, to nav
interest on the public debt and for other
purposes" approved June 30, 1854, as
amended by section nine of the act of
July l3, 1886, to reduce Internal taxa
ton and TO amend the act Aforesaid and
acts amendAtOFy thereof, ulsOn the de
ipOsits, capital and circulation of hs.;;,r-
or persons, associations ,-o,,,na,,ies ~
corporations enge.SSsd an tie hsss!ness Of
uahKlhg, Sad hereafter De paid semi
i--Tally, on the first day OF Jdnuary
and the first day Of July; but the same
| shall be calculated at the rate per month
as prescribed by said section, s0that the
/ tax for six months shall not he les than
the aggregate would be If the said
2, taxes were collected monthly, as pre-
| scribed by said section. And the words
"capital employed" in said section,
shall not include money borrowed or
| received from day to day In the usual
course of business from any person not a
partner Of or interested in the said bank,
association or firm. And the exemption
from tax, authorized by the said section,
OF deposits of less than five hundred
dollars, made in the name Of one person,
In associations or companies known as
prOvident institutions, savings banks,
savings funds or savings institutions, is
hereby extended to deposits so made Of
not exceeding two thousand dollars.
LeEaetes.
Section SS. That the purposes Of a
charitable character mentioned in sec
ton twenty-seven Of the act of July Il,
1910, are Intended and are hereby con-
stTued to include ali devices and legacies
10 associations, trustees, societies and
corporations established or carried on for
any benevolent, religious or charitable
object withoutaview to pecuniaTy profit.
InSruasrs' MoietIes Abolished.
Section 50. That SO much OF section
one hundred and seventy-nine of the
act Of July IS, 1866, as provides for moi
ties TO informers be, and the same is
hereby, repealed, and the Commissioner
Of Internal Revenue, with the approval
Of the Secretary Of the Treasury, is
hereby authorized to pay such sums, not
exceeding in the aggregate the amount
appropriated Therefor, as may, in his
judgment, be deemed Necessary for de-
tecUing and bringing to trial and pun
ishment persons guilty Of violating the
internal revenue laws, or cOnniving at
the same, IN cases where such expenses
are not otherwise provided for by law;
an6 for this purpose there are hereby ap-
prOpTiated one hundred thousand dol
lars, or 50 much thereof as may Be
necessary. out Of any money in the
Treasury not otherwise appropriated.
section 40. That section sixty-three
of the act approved July Is, 1856, enti-
tied 'tAn act to reduce internal taxation,
and to amend an act entitled AN act to
provide internal revenue TO support the
TO pay interest ON the pub
lie debt, and for other PURPOSES p ap-
proved June 90, 1854, and acts amenda-
tory thereof" be amended by striking
out the words three hundred" wher-
ever they occur therein, and inserting In
lieu the words five hundred, p and
striking out the words 'under any Of the !
provisions of this act, or of sny act to /
which this is an amendment,n ~ and in /
serting in lieu thereof the words tiunder
the provisions of any internal revenue |
act"
Section Al. That section one hundred |
and siXty-One of the act entitled "An |
act 20 provide internal revenue to sup
pOr the government, to pay interest on
the public debt and for other purposes, - 4
June so, 1854, be amended by !
striking out the words, "this act" 4" &C
curing after the words STAMPS issued
under the provisions OF and Inserting
in lie thereof the words amy internal
revenue act"