The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1864-05-03
THE NEW TAX BILL.

IN Act to lag additional tares for the common de-
fence and support ofthe 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 de-
fence and to carry the Government of the Con-
federate States,'' approved 9th of April 1868,
there shall be levied, from the passage of this act,
on the subjects of taxation hereafter MENTIONED and
collected from every person. CO. partnership, assoc
citation corporation, liable thereto, taxes as fol-
lows to wit:
l. Upon the value of property, real, personal and
Mixed Of every kind and description. not herenaf
ter exempted or 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 Governments Provided, that no credit shall
be allowed beyond five per cent.
IL. On the value of gold and silver 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 tho neigh
borhood where assessed in the year 1860. except in
cases wherS 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 by the owner.
Sec 2. On the value of all shares intcrcss-hald
in any bank, banking company association, canal
navigation. importing, exporting, insurance, manu-
featuring telegraph express, railroad and dry dock
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 III the where assessed
i'll such currency may be in general 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 or silver bullion, whether held
by the banks or other corporations individuals,
i've per cent; and upon all moneys held abroad,
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 and col
lected according to the value thereof at the place
where the tax is paid.
|. III. Upon the amount of all solvent credits and
of oil bank bills, and all other papers issued as
r"nry exclusive of non terest bearing Confederate
treasury notes, and not employed in u registered
business the income derived from which is taxed,
tive per cent
Sec /. Upon profits made in trade and business,
as follows:
L On all profits made by buying and selling spir-
itn"ns liquors. flour, wheat, corn, rice. sugar mo-
asses or SYRUP salt, bacon, pork. hogs, beef or
beet cattle, sheep. oats, hay. fodder, hides,
leather horses, mules. boots, Shoes, cotton yarns.
wool, WOODEN, cotton mixed cloths, hats. wagons,
harness coal, iron. steel nails at any time be-
tween the lst of January 1868 ard the st January
1868, ten per cent, in addition to the tax such
profits as income under the act lay taxes for the
common defence. and carry on the Government Of
the Confederate States approved April 24th 1868
Ii. On all profits made by buying and selling
money. gold, silver, foreign exchange stocks notes
debts, crcdits,' obligations of any kind, and any
merchandise, property or 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 act
aforesaid.
III. On the amount of profits exceeding twenty
five per made during either of the years 1863
and 1864. by any bank OF banking company, insu-
rance, canal, navigation importing and exporting,
telegraph express railroad. manufacturing, DIV
dock. other Joint stock company of any descrip-
ton, whether incorporate or not, twenty five per
cent such
Sec 5. The following exemptions from taxation
under this act shall be allowed. to wit:
|. Property of each head of family to the values
of FIVE 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
navy, who has died been killed in the mill
tary naval service and who a 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 or naval service, where there is
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 i'll 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
niture, shall be assessed a value exceeding one
thousand dollars.
". That where property has been injured or de-
stroyed by the enemy, the owner thereof has
been temporarily deprived of the use or occupancy