Weekly standard. [volume] (Raleigh, N.C.) 1858-1865, 1863-04-08

tax thereupon, and'i default shall pay . penalty
double the amount Of the tax: Providsd, that when
persons net profits shall exceed five thousand dol
lars and fall below twenty thousand dollars there
shall be collected twelve and halfper cent such
excess of nett profits ard all excess Of nett profits
twenty thousand dollars there shall be collect
ed twenty-five per cent on such excess
SEC. 2. Upon all salaries except of persons in the
military and naval service there shall be levied and
collected tax of one per cent on the gross amount
when not exceeding fifteen hundred dollars, and
two upon any excess over that amount, the same y
to be collected at the end of the year.
Sec. 8. Railroad and steamboat companies shall
pay tax of five per cent. on the gross amount of
receipts for the transportation of passengers and
owners shall pay five per cent on the amount of
gross receipts.
SEC. 9. Banks, trust companies and savings insti-
tutions, gas companies, telegraph, express, canal
and manufacturing companies, &C., &c, shall pay
% Al profits ye.'sy'tax Of twenty eight per csss
beginnng lst Of January, 1859. : =
SEC. TO- On and after the 1st Of April, 1862 there
shall be paid by all insurance companies five per
cent on the gross receipts for premiums during the
preceding quarter
Sec. II. Any company or corporation failing to
make the return to the collector or pay the tax,
snail ss forfeit as penalty one third in addition to
Sec: 1s. On the 1st April, 1864, and on the first
day OF each succeeding quarter all insurance compa
MES shall render an account to the collector Of their
business done in the preceding quarter
Sec Is. A tax shall be levied of ten per cent of
the profit on every sale amounting to more than
one hundred dollars of real or personal property
bought and sold by any person or persons during
the year 1852, and that part of the year 1868 pre-
ceding the lst of April 1868; this not to apply to
purchases made in the course of business conduct
ed under licanSa from q Sfoto fovo od hr
Sec. a. On the amount of every sale amounting
to more than one hundred dellars, Eade after 1st
April, 1863, there shall be levied tax of two and
half per cent unless the sale is made to the Confed
crate States or to person or company, whose bust
! ness is taxed under this act. .
Sec. Is. After 1st, January, 1853, there shall be
! paid tax Of fourteen per cent on all incomes or
profits from all sources whatever other than from
| property on which tax shall have been assessed
| and paid under other provisions of this act When
| such income or Profits shall exceed ten thousand
dollars, there shall be levied an additional ten per
| cent. upon such excess.
SEC. Ii. Persons companies issuing notes of
less denomination than twenty dollars shall pay
| tax OF twenty per cent upon the amoant issued
Banks IN which State is stakeholder and counties
OF corporations issuing notes in pursuance to State
law not liable to this tax
SEC IL. All foreigners between eighteen and
forty five years of age and not in the military or
naval service, exercising a,y of the callings or
avocattons hereinbefore taxed, shall pay an ad.
dltional tax equal to that herein5efore established
SEC r8. On and after the lst of May, 1863 there
shall be paid by any person, persons, firm com.
pany publishing newspaper, magazine review, OF
other literary, scientific, or news publication issued
periodically on the gross receipts for all advertise
nents, Or all matters for the insertion of which in
sEid newspaper or other publication, or in extras
supplement sheets or fly leaves accompanying the
same, pay is required or received tax of two and
one third per cent; and the owners Of such papers,
&C., shall make quarterly return, accompanied by
an oath to its correctness, containing the gross
amount of receipts and the amount of taxes thai
have accrued thereon and render the same to the col
ectors OF their respective Districts and at the same
time shall pay to the collectors the amount of sale
taxes. q
SEC. 10. The following property shall be exempt
from taxation: agricultural products purchased anG
necessary for family consunpton assessed property
oil person not in the military or naval service
amounting in value to less than one thousand dol
lars property of less value than two thousand dol
lars, belonging to persons in the military and nava
service; the property of schools colleges charitable
or religious corporations or associations, used for
the purposes for which such schools, &c. were
/ created public lands, State municipal property
bonds of the Confederate States and of the severa
States thereof property from the possession use o,
enjoyment whereof the owners have been deprived
by the public enemy during the twelve months
next before the assessment all fire engines, books
portraits, pictures and wearing apparel, excep
watches and jewelry; agricultural productions Of
the last preceding crop, produced land which ha
paid tax under the first section of this act in thu
hands OF the producer other than such agricultura
products as are specially taxed by this act; farming
implements actually used for farming purposes
except road wagons, and all tools used by mechanics
in their respective trades