258 FORTY—FIRST CONGRESS. Sess. II. On. 255. 1870. , 1** °’*l'°**l¤8 shall ‘have been withheld; the share of any person of the gains and ¥,°?,,°;¥g3;glt m profits, whether divided or not., of all companies or partnerships, but not i 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, beet, 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 income drawn from any source whatever, but not including the rental value of the homestead used or occupied by any person, or by his family. Wlwtfobe do- Sec. 8. And be it further enacted, That military or naval pensions g;‘;)°;§,}"“d °" 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 manner hereinafter provided. D<=·}¤<>*i<>¤ Only one deduction of two thousand dollars shall be made from the agf;‘;':,,QQf§'_;-°,°f gregate income of all the members of any family composed of one or family; both parents and one or more minor children, or of husband and wife; but when a wife has by law a separate income, beyond the control of her husband, and is living separate and apart from him, such deduction shall then be made from her income, gains, and profits; and guardians and wards and trustees shall be allowed to make the deduction in favor of each ward or b°“°H°l’·"i°“5 beneficiary except that ina case of two or more wards or beneficiaries comprised in one family, having joint property interest, only one deduc- ,,,,8,0,,, 0, tion shall be made in their favor. For the purpose of allowing said desooial communi- duction from the income of any religions or social community holding all ms- their property and the income therefrom jointly and in common, each five of the persons composing such society, and any remaining fractional number of such persons less than five over such groups of five, shall be held to constitute a family, and a deduction of two thousand dollars shall •Unpaidincome be allowed for each of said families. Any taxes on the incomes, gains,
and profits of such societies, now due and unpaid, shall be assessed and
collected according to this provision, except that the deduction shall be only one thousand dollars for any year prior to eighteen hundred and seventy. Deduptionsin Sec. 9. And be it further enacted, That in addition to the exemptions
- 'n?;';Q'A¤},n_ provided in the preceding section, there shall be deducted from the gains,
cm, 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 sustained during the year arising from fires, floods, shipwreck, or incurred in trade, and debts ascertained to be worthless, but excluding all estimated depreciation of values; the amount of interest paid during the year, and the amount paid for rent or labor to cultivate land, or to conduct any other business from which income is derived ; the amount paid for the rent of the house or premises occupied as a residence for himself or his family, and the amount paid _Csrtaindeduo. out for usual and ordinary repairs. No deduction shall be made for any
- <
- 'g°i1°” W be amount paid out for new buildings, permanent improvements, or better-
_ ments made to increase the value of any property or estate uflé: g;°;;¤j° Sec. 10. And be it further enacted, That the tax hereinbefore provided s,,,,,, y,,, what shall be assessed upon the gains, profits, and income for the year ending grip? zggciévpein on the thirty-firstlday of December next preceding the time for levying ‘ and collecting said tax, and shall be levied on the first day of March, eighteen hundred and seventy-one, and eighteen hundred and seventy-two, Pmm for and be due and payable on. or before the thirtieth day of April in each of ,;,;,,,,1; J pay. Sv-ld years And m addition to any sum annually due and unpaid after msnt. the thirtieth day of April, and for- ten days after notice and demand
