The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1864-03-15
THE NEW TAX BILL.

An Act to lag additional tares for the common de-
fence and support ofMe 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 Government of the Con-
federate States,' approved Oath of April, 1868
there shall De levied, from the passage of this act,
the subjects of taxation hereafter mentioned and
collected from every person. CO. partnership, asso
citation 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 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. jeweTry 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 similar property in the neigh
borhood where assessed in the year 1860 except in
cases wher1 land, slaves, cotton or 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 by the
Sec 2. On the value of all shares or interests held
in 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 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 i'll the neighbohood 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. l. Upon the amount of all gold and silver
coin. gold dust gold silver bullion, whether held
by the banks or other corporations or Individuals
five per cent; and upon all moneys held abroad,
upon the amount of all bills of exchange, drawn
therefor foreign countries, tax of five per cent;
such tax upon money abroad to be assessed and col
lected according to the value thereof 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 as
rency exclusive of interest bearing Confederate
treasury notes, and not employed in a registered
business the income derived from which is taxed.
five per cent.
Sec 4. Upon profits made in trade and business.
as follows:
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 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 to lay taxes for the
common defence. and carry the Government of
the Confederate States. approved April 24th, 1868
Ill. 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
Ill. On the amount of profits exceeding twenty
five per cent made during either of the years 1863
and 1864. by any bank or banking company. insu-
rance, CANAL navigation, importing and exporting,
telegraph. express. railroad, manufacturing, dry
dock. Or other joint stock company of any descrip-
ton, whether incorporate or not, twenty five per
cent on such excess.
Sec D. The following exemptions from taxation
under this act shall be allowed. to- witt
L. Property of each head of family to the value
of five hundred dollars; and for each minor child of
the family to the further value of one hundred dol
lars; and for each actually engaged in the army
or navy. or who has died or been killed in the mill
tary naval service, and who was a member of the
family when he entered the service, to the further
value of FIVE hundred dollars
III. Property of the widow of any officer soldier,
sailor or marine, who may have died or been killed
i'll the military or naval service, where there is
widow, then of the family, being minor children
to the value of one thousand dollars.
Ill. Property of every officer, soldier, sailor
marine, actually engaged in the military or naval
service. Of such as have been disabled in such SER
vice. to the value of one thousand dollars provided
that the above exemptions shall not apply to any
person, whose property exclusive of household fur
nituro, shall be assessed a value exceeding one
thousand dollars.
~. That where property has been injured de-
stroyed by the enemy, or the owner thereof has
been temporarily deprived of the occupancy