The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1864-04-26
THE NEW TAX BILL.

Act 10 LUT Gd0It1OnHt tdreS for me common 0c-
fence and support Of the Government
Sec. |. The Congress of the Confederate States
Of America do enact, That in addition to the taxes
ievcd by the 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 bs levied from the passage of this act
the subjects of taxation hereafter mentioned. and
collected from every person. co-partnership, assoc
citation or 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 taxed at a 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 and
plate, jewels. jewery and watches, ten per cent.
Ill. The value of property taxed under this
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
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
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 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 propertyn the neghborhood 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. L. 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 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 and col
lected 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 as cur
rency exclusive of interest bearing Confed
treasury notes, and not employed-in registered
business the income derived from which is taxed.
five per cent.
Sec T. Upon profits made in trade and business,
as follows:
l. On all profits made by buying and selling spir-
ltuous liquors. -four, wheat, corn, rice, sugar.
lasses or syrup, salt. bacon. pork. hogs, beef or
beet cattle, sheep. oats, hay. fodder, raw hides
leather horses, mules. boots, Shoes, cotton yarns
wool, wooden, cotton mixed cloths. hats wagons.
harness. coal, iron. steel or nails, at any time be-
tween the Ist of January 1868 aud the lst January
1868, ten per cent, in addition to the tax such
profits as income under the act to lay taxes for the
common defence, and carry on the Government of
NoHitueidte approved "A 24fll, 1903
H. 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
i'll the preceding paragraph, between
the times named therein, ten per cent, in addition
to the tax 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
aud 1864. by any bank banking company, insu-
rance, canal, navi CATION, importing and exporting
dock. or other joint stock company of any deScrip-
ton, whether incorporate not twenty five per
cent on such excess.
Sec s. The following exemptions from taxation
under this act shall be allowed. to-wit:
l. Property of each head of a family to the value
IF five hundred dollars; and for each minor child of
the family to the further value Of hundred dol
arS; and for each actually engaged in the army
nr navy. who has died or been killed in the mill
AIRY sffngsval service, and who a member of the
fanny 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 been killed
II the military naval service. or where there is i
widow, then of the family, being minor children
o 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 as have been disabled in such ser
ice. TO the value of one thous sand dollars; provided
hat the above exemptions shall not apply to any
'ersnn, whose property exclusive of household fur
iture. shall be assessed at a value exceeding one
houSand dollars
". That where property has been injured or de-
troyed by the enemy, or the owner thereof has
zen temporarily deprived of the use or occupancy