The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1864-12-06
THE NEW TAX BILL.

An act to lag additional taTcs for The common de-
fence and support ofhe Gove5nment.
See. 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 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, O-partnership,
citation corporation liable thereto, taxes fol-
lows, to wit:
|. Upon the value ofproperty, real, personal and
mixed of every kind and description, not hereinaf
ter exempted or 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 theretrom
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. jewplry 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 or similar property in the neigh
borhood where assessed in the year 1860, except in
cases whcr2 land, slaves, cotton tobacco have
been purchased since the 1st day of january 1862
in which case the said land slaves, cotton ana to-
bacco purchased, shall be assessed at the price
actually paid for the by the owner.
Sec ,. On the value Of all shares or interests held
in any bank. banking company OF association canal,
navigation. importing, exporting, insurance. manu-
featuring, telegraph express, railroad, and dry dock
companies. ana all Otnef Olnt STOCK companies or
every kind whether incorporated OF 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 negborhood 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. I. Upon the amount Of all gold and silver
COIN gold dust gold silver bullion whether held
by the banks or other corporations or individuals
felI 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
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 as cur
rency exclusive of non 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:
l. On ali profits made by buying and selling spir
ituous liquors. flour, wheat, corn, rice, sugar mo
iasses 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 or mixed cloths. hats wagons
harness, coal, iron steel or nails, at any time be-
tween the 1st of January 1858 and tie Isl january
1868, ten per cent, addition to the FAX on such
profits as income under the act to lay taxes for the
common defence and carry on the Government of
the confederate States approved April 9th, 1868
Ill. On all profits made by buying and selling
money, gold, silver, foreign exchange stocks notes
debts credits. 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 such profits as income understhe act
aforesaid.
Ill. On the amount of profits exceeding twenty
five per cent, made during either of the years 1868
and 1864, by any bank or banking company. insr-
rance, canal, navigation importing and exporting.
express. railroad. nufacturinc. DIV
dock. or other joint stock company of any descrin
ton, whether incorporate not. twenty five per
cent on such excess.
Sec 5. The following exemptions from taxation
under this act shall be allowed. to wit:
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 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 marine, whosmay have died or been killed
in the military or naval service, 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 t
marine. actually engaged in the military or naval
service. OF such have been disabled in such seq
Iice. TO the value of thousand provided
hat the above exemptions shall not apply TO any,
person, whose property. exclusive of household fur
liturc. shall be assessed value exceeding one
thousand dollars.
" That where property has been injured OF de-
Al