The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1864-07-26
THE NEW TAX BILL.
An Act TO lag additional tores for the com
feace and snnp0rI of lie G0rcrnnlcn

IsIT 4<A<A DILL.
An Act to lag additional tarcs for the common de-
fence and support ofMe Government.
Sec. [. The Congress of the Confederate States
of America do enact That in addition to the taxes
levied by the s'act to lay taxes for the de-
fence and to- carry on the Government of the Con-
federate States,'' approved 24th of April, 1868,
there shall be levied, from the passage of this act,
the subjects of taxation hereafter mentioned, and
collected from every person, o-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 desert ption, not herenaf
ter exempted taxed at 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
as 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 wares and
plate, jewels. jewelry and watches, ten per cent.
III. The value of property taxed under this
ton shall be assessed on 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 whers land, slaves, cotton or tobacco have
been purchased since the lst day of January, 1862
in which case 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 Or interests held
in any bank, banking company association canal
navigation, importing, exporting, insurance, manu-
companies. and all other joint stock companies of
every kld, whether incorporated or not five per
cent.
The value of property faxed under this section
shall be assessed upon the basis of the market value
of such property in the where assessed,
in such currency may be in general there, in
the purchase and sale of such property at the time
of assessment.
Sec B. [. Upon the !runt of all gold and silver
con gold dust, gold liver bullion whether held
by the banks or other corporations Or 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
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
rency, exclusive interest bearing Confederate
treasury notes, ahd 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,
follows:
I. On all profits made by buying and selling spir-
ituous liquors. flour, wheat, corn rice sugar, mo-
lasses or syrup, salt, bacon, pork. hogs, beef or
beet cattle, sheep. oats, hay. fodder, hides,
leather, harses mules. boots, Shoes cotton yarns,
WOOL WOODEN, cotton mixed cloths. hats. wagons,
harness, coal, IRON steel nails, at any time be-
tween the 1st of January, 1868 and the LIST January
1865, ten per cent, in addition to the tax on such
profits income under the act to lay taxes for the
common de1ci9e, ana carry On the Government OF
the Confederate States approved April 24th, 1868
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 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.
Ill On the amount of profits exceeding twenty
five per cent, made during either of the years 1868
and 1861, by any bank or banking company, insu-
rance, canal, navigation importing and exporting,
telegraph, express. railroad. manufacturing, dry
deck. or other joint stock company of any descrir-
ton, whether incorporate or not, twenty five per
cent on such excess.
Secs. The following exemptions from taxation
under this act shall be allowed. to- wit
l. Property of each head of 4 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 or naval service, and who member of the |
family when he entered the service to the further
value of five hundred dollars.
II. 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. I
~ HI 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
rice to the value of one thousand dollars; provided
hat the above exemptions shall not apply to any /
whose property, exclusive of household fur
allure, shall be assessed at value exceeding one
thousand dollars.
". That where property has been injured or de- /
'een temporarily -epriyed Of the use or occupancy