The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1864-04-19
THE NEW TAX BILL.

An Act to tan additional tares for the common de-
fence and support fthe 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 the Government of the Con-
federate States approved Gath of April, 1868.
there shall be 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:
|. Upon the value of property, real personal and
mixed, of every kind and description not hercinaf
ter exempted taxed different rate. five per
cent Provided, that from this tax on 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 andzsver wares and
plate, jewels. jewelry and watches, ten per cent.
Ill The value of property taxed under this sec
ton shall be assessed on the basis of the market
value of the Or similar property in the neigh
borhood where assessed in the year 1860 except in
cases wheri land slaves, cotton or tobacco have
been purchased since the lst day of January. 1862,
in which the said land, slaves. cotton and to-
bacco so purchased, shall be assessed at the price
actually paid for the same by the
Sec :. 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
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 eighborhood where assessed
Ill such currency may be in general use 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 silver bullion, whether held
by the banks other corporations or individuals.
nd all he'll ahr or
upon the amount of all bills of exchange, drawn
therefor on torr gn 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 all bank bills. and all other papers issued
rency, exclusive of non interest bearing
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 all profits made by buying and selling spir-
tuous liquors. flour, wheat. corn, rice, sugar. mo-
la>ses 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 or mixed cloths, hats wagons
harness. coal, iron. steel or nails, at any time be-
tween the 1st of January 1868 and the lst January
1865, ten per cent, in addition the tax ON such
profits income under the act to lay taxes for the
common defence. and carry on the Government Of
the Confederate States approved April 24th, 1868
H. On ALI profits made by buying and selling
money, gold silver, foreign exchange stocks, notes
debts, credits, or obligations of any kind, and any
merchandise, property Or 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 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, navigation. importing and exporting
telegraph express railroad. manufacturing, dry
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 a family to the value
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
o 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 af five hundred dollars.
II. Property of the widow of any officer. soldier
in the military 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 in the military or naval
service of such have been disabled in such SER
vice. to the value of thousand dollars; provided
that the above exemptions shall not apply to anv
person. whose property. exclusive of household fur
niturc, shall be assessed at a value exceeding one
thousand dollars.
". That where property has been injured CIR de-
been temporarily deprived of the use or occupancy