The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1864-07-19
THE NEW TAX BILL.

An 4ct 10 tag 0adltlond tdLeS f0f me common de-
fence and support Of the Government.
Sec |. 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 Government of the Con-
federate States,' approved Gath of April, 1868.
there shall De levied, from the passage of this act,
the sub jects Of taxation hereafter mentioned and
collected from every person partnership, asso-
citation or corporation liable thereto, taxes fol-
lows, to-wit:
|. Upon the value of property, real personal and
mixed. of every kind and description not hereinaf
ter exempted taxed at d 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,
as assessed under the law imposing it, and delivered
to the Government Provided, that no 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
III The value of property taxed under this
ton shall be assessed the basis of the market
value of the similar property in the neigh
6orhood where assessed in the year 1860 except in
cases wherI land slaves. cotton or tobacco have
been purchased since the 1st day of January, 1862,
in which case the said land, slaves, cotton and to-
bacco SO purchased, shall be assessed at the price
actually paid for the same by the owner.
Sec 2. On the value of all shares Interests held
III any bank. banking company 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 properly taxed under this section
shall be assessed upon the basis of the market value
of such property in the neighborhood where assessed
in such currency may be in general use there, in
the purchase and sale Of such property, 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 ali moneys held abroad, or
upon the amount Of all bills of exchange, drawn
therefor on foreign countries, tax of five per cent;
such tax upon money abroad to be assessed und col
iected according to the value thereof at the place
where the tax is paid
II. Upon the amount of all solvent credits. and
of all bank bills. and all other papers issued
rency. exclusive of nnterest bearing Confederate
treasury notes, and not employed in q registered
business the income derived from which is taxed.
five per cent.
Sec i. Upon profits made in trade and business,
| follows:
l. On all profits made by buying and selling spir-
ituous liquors. -four. what corn, rice, sugar.
lasses syrup, salt, bacon, pork. hogs. beef or
beef cattle, sheep. oats, hay. fodder, hides
leather, horses, mules. boots Shoes, cotton yarns
wool, woolen cotton mixed cloths, hats wagons,
harness, coal, iron. steel nails. at any time be-
tween the LIST of January, 1868 and the 1st January
1863 ten per cent, in addition to the tax on such
profits income under the act to lay taxes for the
common defence. aud carry on the Government of
tho Confederate States, approved April 24til. 1868
IL. 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 no:
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 act
aforesaid.
III. On the amount of profits exceeding twenty
five per cent made during either of the years 1863
and 1861. by any bank or banking company, insu-
rance. canal, navi CATION importing and exporting
telegraph, express. railroad. manu- facturing dry
dock. other joint stock company of any descrip-
ton, whether incorporate not, twenty five per
cent on such
Sec 5. The following exemptions from taxation
under ihis act shall, be allowed to-wit:
|. Property of each head of a family to the value
of Eve hundred dollars; and for each minor child Of
the family to the further value Of hundred dol
lars; and for each actually engaged in the army
or navy, who has died been killed in the mill
tary or naval service, and who was member of the
family when he entered the service, to the further
value of five hundred dollars.
H. Property of the widow of any officer, soldier
sailor marine who may have died or been killed
in the military naval service or 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 or naval
service Of such have been disabled in such ser
vice. to the value of thousand dollars; provided
that the above exemptions shall not apply to any
person whose property, exclusive of household fur
nture, shall be assessed O value exceeding one
thousand dollars.
". That where property has been injured or de-
stroyed by the enemy, Or the owner thereof has
been temporarily deprived Of the use or occupancy