The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1863-05-05

cest OF running the boat or vessel. f-ys et q +
i ~. If the income be derived by the tax payer
yam boat ship building, there shall be deduct
ed from the gross receipts of his occupation, in
Guiding the value of the ship when. flushed, if
i built for himself, The cost of the labor actually
hired and paid by himself, and the prime cost of
the materials, if purchased by him. ,rs ..,s
! V If the income be derived by the tax payer
from the sale of merchandise or any other proper
| ty realor personal, there shall be deducted from
the gross am ount of sales, the prime cost of the
property sod including the cost of transportation,
salaries of clerks actually paid, and the rent Of
buildings employed in the business, if hired and
not owned by himself.
| VI. If the income be derived by the tax payer or
from any other occupation, profession employment
business. there shall be deducted from the gross
amount of fees compensation, profits, earnings, or
commissions the salaries of clerks actually paid and
the rent of the Office other building used in the
! business, if hired and not owned by himself, the
cost Of labor actually paid and owned by himself
and the cost of material other than machinery pur-
chased for the of his business to be converted
into other form in the course of his business;
and in of mutual insurance companies, the
amount of losses paid by them during the year The
income derived from all oher shall be subject
to no deduction whatever. Nor shall foreigners be
| subject to tax from any other income than that
derived from property owned, or occupations or
t empoyments pursued by them within the Confede-
States, and in estimating income there shall be
all dwellings,, houses, buildings building lots in
cities, towns villages, occupied by this owners,
owned and not occupied or hired, and the value
of the estimated annual hire of all slaves not engaged
on plantations farms. and not employed in some
business or occupations the profits of which
taxed income under this act When the income
shall he thus ascertained, all of those which do not
exceed $500 per annum shall be exempt from
| taxation. On all incomes received during the year
over $500 and not exceeding $500. a tax of per
o,,t hall ho oil nd
less than $4,000. S per cent shall be paid on the
first $500, and 10 per cent the excess; all
incomes of or over $4,000, and less than $4,000,
tax of 10 per cent. shall be pad all incomes of
S., 600, and less than $4,000, tax of l24
per cent shall be paid; and all incomes of
$4,000 tax of Is per cent shall be paid. All
joint stock companies and corporations shall reserve
one tenth of the annual earnings, set apart for
dividend and reserved fund.- to be paid to the collee
tor of the Confederate tax. and the dividend then
paid to the stockholder shall not be estimated as a
part of his income for the purpose oft act. All
persons shall give in estimate of their income
and profits derived from any other whatever,
and in doing shall first state the gross amount of
their receipts as individuals or members of firm
partnership, and, also, state particularly each
item for which deduction is to be made and the
amount to be deducted for it: Prouided, That the
incomes and profits upon which the above tax be
imposed shall not be deemed to include the products
of land which taxed in kind, hereinafter
described Prouided further, That in case the
annual earnings of said joint stock companies and
corporations set apart aforesaid shall give
profit of more than 10 and less than 90 per centum
upon their capital stock paid in. eighth of said
sum set apart shall be paid tax to the coec-
aforesaid, and in said set apart shall
give profit of than 90 per cent their
capital stock paid in, one-sixth thereof shall be
reserved and paid aforesaid. The tax levied in
this section shall be collected the first day of
January ensuing.
SEC. 9. That if the assessor shall be dissatisfied
with the statement estimate of income and profits
derived from any source whatever, other than
products in kind, which the tax payer is required to
render, with any deduction claimed by said tax
payer, he shall select dsinterested citizen of
the vicinage referee and the tax payer shall
select another. and the two thus selected shall call
in third who shall investigate and determine the
facts in reference to said estimate and deductions,
and fix the amount of income and profits on which
the tax payer shall be assessed, and certificate
signed by majority of the referees, shall be con-
elusive to the amount of income and profits
which the tax payer shall be assessed Prorided,
That any person shall fail refuse render the
statement estimate aforesaid, shall fail or
refuse to select referee aforesaid. the
shall select three referees, who shall fix the amount
of income and profits which the tax payer shall
be assessed from the best evidence they obtain,
and certificate signed by a majority of said
referees shall be conclusive on the tax payer: And
Prorided further. That in any case submitted to
referees, if they majority of them shall find and
certify that the statement estimate of income
and profits rendered by the tax payer does not con-
tain than four ths of the true and real amount
of his taxable income and profits then the tax payer,
in addition to the income tax on the true amount of
his income and profits ascertained aud assessed by
the referees shall pay 10 per centum the amount
ofsad income tax, and the shall be entitled
to one-fifth of said additional 10 per centum over
and above all other fees and allowances: And
proridea further That the assessor may administer
oaths to referees, the tax payer. and any witness
before the referees, in regard to said estimate, and
any deduction c.aimed, any fact in reference
thereto in such form as the Secretary of the
Treasury may prescribe
SEC. TO- On all profits made by any person.
partnership corporation during the year 1862. by
the purchase within the Confederate States and
sale, during the said year, of any four corn bacon,
pork. oats, hay, rice, SALT iron or the manufactures
of iron. sugar, molasses made OF cane, butter.
wooden cloths, shoes, boots, blankets and cotton
cloths. tax of 10 per cent shall be levied and coll-c
ted to be paid or the first day of July next
Provided That the tax imposed by this section
shall not apply purchases and sales made in the
due course of the regular retail business and shall
not continue beyond the present year.
Sec. IL. Each f,rmer and planter in the Confad
crate States, after reserving for his own use 81
bushels of sweet potatoes and SD bushels of Irish
potatoes, 100 bushels of tbs corn, 50 bushels of
the wheat produced in the present year, shall pay
and deliver TO the Confederate Government, of the
products of the present year. tenth OF the wheat
corn eats, rye. buckwheat rice. sweet and Irish
potatoes. and of the cured hay and fodder; also,
one tenth of the sugar, molasses made of cane
cotf,n xra,,l s.ad fohaceo. eoftnss xianad aud