The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1864-11-15
THE NEW TAX BILL.

An act to lay additional tares for the common de-
fence and support cfhe 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 for the common de-
fence and to carry on the Government of the Con-
tederate States,' approved Gath of April, 1868.
there shall De levied. from the passage of this act
the subjects of taxation hereafter mentioned, and
collected from every person, partnership, asso
citation corporation, liable thereto, taxes fol-
lows, to wit:
l. Upon the value of property, real, personal and
mixed of every kind and description. not hereinaf
ter exempted or taxed at different rate, five per
cent Proyided< 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
III. On the value of gold and silver wares and
plate, jewels. jewclry 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 similar property in the neigh
borhood where assessed in the year 1860. except in
cases whrr& land, slaves. cotton or tobacco have
been purchased sce the lst 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
i'll 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 property taxed under this section
shall be assessed upon the basis of the market value
of such property in the neghborhood where assessed
III 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
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
leced 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 non interest bearing Confederate
treasury notes, and no: employed in a registered
business the income derived from which is taxed.
five per cent.
Sec f. Upon profits made in trade and business,
as follows:
l. On all profits made by buying and selling spir
ltuous liquors. flour, wheat, corn, rice, sugar. mo
lass"s 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 mixed cloths. hats wagons
harness, coal, IRON steel or nails, at any time be-
tween the LIST Of January 1863 and the st January
1865, ten per cent, III addition to the tax on such
profits as income under the act to lay taxes for the
common defence, and carry the Government of
'HF N"itutlate CtaieS, approved "A prli 24th, 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 not
enumerated i'll the preceding paragraph, between
the times named therein ten per cent, in addition
to the tax on such profits 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. munufa curing, div
dock. other joint stock company of any descrip-
ton, whether incorporate not. twenty five per
cent such
Sec 5. The following exemptions from taxation
under this act shall be allowed to wit:
l. Property of each head of a family to the yauo
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 member of tho |
family when he entered the service to the further
value IF five hundred dollars.
II. Property of the widow of any officer soldier
sailor or marine, who may have died or been killed
in the military or naval service, where there i |
no widow. then of the family, being minor children
to the value of one thousand dollars.
Ill Property of every officer, soldier, sailor AR
marine, actually engaged in the military or naval
service. of such as have been disabled in such SER
'ice TO the value of one thousand dollars; provided
hat the above exemptions shall not apply to anvi
'erson. whose property. exclusive of household fnr
iiturc. shall be assessed at a value exceeding ono
thousand dollars. O"'
". That where property has been injured or de-
troyed by the enemy, or the owner thereof b.
tar7D &C IL,