The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1864-03-22
THE NEW TAX BILL


fence and support Of the Government.
Sec. l. The Congress of the Confederate States
of America do enact, That in addition to the taxes
levied by the act to lay taxes for the common de-
fence and to carry on the Govern ment of the Con-
federate States approved 9th of April. 1868.
there shall be levied, from the passage of this act,
the ubjects of taxation hereafter mentioned and
collected from every person. partnership, ass"
citation corporation liable thereto, taxes fol-
lows, TO wit:
mixed, of every kind and description. not herenaf
ter exempted taxed different rate five per
cent Provided, that from this tax the value of
Property employed in agriculture, shall be deduct
ed the value of the tax in kind delivered therefrom
assessed under the law imposing it. and delivered
to the Government: Provided, that credit shall
be allowed beyond five per cent
ii. On the value of gold and silver wares and
plate. jewels. jewelry and watches. ten per cent.
Ill The value of property taxed under this sec
ton shall be assessed on the basis of the market
value of the same similar property in the neg h
borhood where assessed in the year 1860. except in
cases wherJ land, slaves, cotton tobacco have
been purchased since the LIST day of January. 1862
in which the said land slaves. cotton and to-
bacco purchased, shall be assessed at the price
actually paid for the same by the owner:
Sec 2. On the value of all shares or interests held
in any bank. banking company or association canal
navigation, importing exporting, insurance, manu-
featuring. telegraph express, railroad and dry dock
companies. and all other joint stock companies of
every kind whether Incorporated not, five per
cent
The value of property taxed under this section
shall be assessed upon the basis of the market value
of such property in the neigh where assessed
III such currency may be in general use there, in
the purchase and sale Of such property at the time
of assessment.
Sec 3. 1. Upon the amount Of all gold and silver
coin, gold dust gold silver bullion whether held
by the banks or other corporations individuals,
five per cent; and upon all moneys held abroad,
upon the amount of all bills of exchange, drawn
therefor on toregn countries, tax of five per cent;
such tax upon money abroad to be assessed and col
lected according to the value thereof at the place
where the tax is paid.
H. Upon the amount of all solvent credits. and
of all bank bills and all other papers issued as cur
rency, exclusive of non interest bearing Confederate
treasury notes. and no: employed in registered
business the income derived FROM which is taxed.
five per cent.
SEQ 4. Upon profits made in trade and business.
as follows:
l On all profits made by buying and selling spir-
ituous liquors. -four, wheat. corn, rice sugar. mo-
iasses or syrup. salt, bacon pork hogs, beef or
beef cattle, sheep. oats, hay fodder, raw hides,
leather, horses mules. boots, Shoes. cotton yarns,
wool wooden, cotton or mixed cloths hats. wagons,
harness, coal iron. steel or nails. at any time be-
tween the LIST of January. 1868 and the st January
1865, ten per cent, in addition to the tax on such
profits as income under the act lay taxes for the
common defence. and carry on the Government of
ii. On all profits made by buying ana selling
money gold, silver, foreign exchange, stocks, notes.
debts. credits, or obligations of any kind, and any
merchandise, property effects of any kind not
enumerated in the preceding paragraph. between
the times named therein. ten per cent, in addition
to the tax such profits income, under the act
aforesaid.
Ill. On the amount of profits exceeding twenty
FIVE per cent made during either of the years 1863
and 1854 by any bank or banking company. insu-
rance, canal, avgation, importing and exporting,
telegraph, express. railroad. manufacturing dry
duck or other joint stock company of any descrp
ton. whether incorporate or not. twenty five per
cent on such excess.
Sec 5. The following exemptions from taxation
under this act shall be allowed to- wit:
|. Property of each head of family to the value
of FIVE hundred dollars and for each minor child of
the family the further value of one hundred dol
lars; and for each actually engaged in the army
or uayy. who has died or been killed in the mill
tary naval service. and who was member of the
family when he entered the service to the further
value of five hundred dollars.
II. Property of the widow of any officer. soldier
sailor marine, who may have died or been killed
in the military naval service, where there is
no widow, then of the family. being minor children.
to the value of one Thousand dollars.
III. Property of every officer, soldier, sailor or
marine. actually engaged in the military naval
service. of such have been disabled in such ser
vice. the value of one Thousand dollars; provided.
that the above exemptions shall not apply to any
person. whose property. exclusive of household fur
niture, shall be assessed at value exceeding one
thousand dollars.
w. That where property has been injured or de-
stroyed by the enemy, or the owner thereof has