The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1864-04-12
THE NEW TAX BILL

fence and support Of the Gouernment
| Sec. 1. The Congress of the Confederate States
of America do enact, That in addition to the taxes
levied by the TACT to lay taxes for the common de
! fence and to carry on the Government of the Con
federate States, approved Oath of April, 1868
there shall be levied from the passage of this act
the subjects of taxation hereafter mentioned, anC
collected from every person. co-partnership, asso
citation or corporation, liable thereto, taxes fol
! lows, to wit: g
| 1. Upon the value of property real, personal and
mixed, of every kind and description, not hereinaf-
ter exempted taxed at different rate, five pei
| 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. iewelry and watches, ten per cent.
ILL., The value of property taxed under this sec
ton shall be assessed the basis of the market
value of the same, similar property in the neigh
borhood where assessed in The year 1860 except in
cases wherJ land slaves cotton tobacco have
been purchased since the 1st 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 associations 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 or 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 neghborhood where assessed
in such currency may be in general use there, in
the purchase and sale of such property at the time
of assessment.
Sec 3. [. Upon the amount of all gold and silver
coin, gold dust gold silver bullion. whether held
by the banks other corporations individuals.
five per cent; and upon all moneys held abroad,
Tho { e.
therefor on foreign Countries tax of five per cent;
such tax upon money abroad to be assessed and col
leced 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
rency. exclusive of non interest bearing Confederate
treasury notes, and not employed in registered
business the income derived from which is taxed.
five per cent.
Sec 4. Upon profits made in trade and business,
1. On all profits made by buying and selling spir-
ituous liquors. -four, wheat, corn, rice sugar. mo-
lasses ,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 1st of January, 1868, and the st January
1865, ten per cent, in addition to the tax on such
profits income ander the 'act to lay taxes for the
common defence. and carry the Government of
the Confederate States, approved April Oath, 1868
II. On all profits made by buying and 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 ON such profits as income, under the
aforesaid.
III. On the amount of profits exceeding TWENTY
five per cent made during either of the years 1863
and 1864. by any bank banking company, insu-
rance, canal, navigation, importing and exporting,
express. railroad. manufacturing dry
dock. other joint stock company of any descrp-
ton. whether incorporate or not, twenty five per
cent on such excess.
Sec S. 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 son actually engaged in the army
or navy or who has died been killed in the mill
tary or naval service, and who member of the
family when he entered the service, to the further
value uf five hundred dollars.
II. Property of the widow of any officer, soldier,
sailor OF murine. who may have died 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.
Ill. Property of every officer. soldier, sailer or
marine, actually engaged in the military naval
service. of such have been disabled in such SER
yice to the value of thousand dollars; provided
hat The above exemptions shall not apply to any
,erson, whose property. exclusive of household fur
,iture. shall be assessed at value exceeding
thousand dollars.
". That where property has been injured or de-
troyed by the enemy, or the owner thereof has
,een temporarily deprived of the use occupancy