The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1864-07-05
TIE NEW TAX BILL.

On Act to lag additional tares for the 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 'act to lay taxes for the common de-
fence and to carry the Government Of the Con-
federate States" approved 24th OF April. 1868
there shall De levied, from the passage of this act
the subjects of taxation hereafter mentoned and
collected from every person partnership, assn-
citation or corporation, liable thereto, taxes fol-
lows, to- wit:
I. Upon the value of property. real personal and
mixed, of every kind and descriptions not hereinaf
ter exempted taxed 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 therefrn,
assessed under the law imposing it, and delivered
to the Government Provided, that no credit shall
be allowed beyond five per cent.
III. 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 sec
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 whers land, slaves, cotton tobacco have
been purchased since 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 same by the
Sec 2. On the value of all shares interests held
! in any bank, banking company association. canal,
navigation. importing, exporting insurance, manu-
tacturng 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 the basis of the mark ct value
Of such property the neighborhood where assessed
in such currency may be in general use 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 or 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
treasury notes, and not employedfn a registered
business the income derived from which is taxed,
five per cent.
Sec i. Upon profits made in trade and business,
follows:
l. On all profits made by buying and selling spir-
tuous liquors. flour, wheat corn, rice, sugar, mo-
asses 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 mixed cloths. hats wa CONS
harness. coal, iron. steel or nails, at any time be-
tween the lst of january, 1868 and the Ist January
1868. tel cent, in addition to the tax on such
profits Income under the to lay taxes for the
common defence. and carry on the Government of
>'e NohleUefate StateS, approved April 2ith, 1868
III. 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 in the preceding paragraph, between
the times named therein. ten per cent, in addition
to the tax on such profits Us income, under the act
aforesaid.
III. 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, nnvi cation, importing and exporting
telegraph, express. railroad. manufacturing, dry
dock or other Joint stock company of any dPscrip-
ton whether incorporate not twenty five per
cent 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
navy, who has died or been killed in the mill
tary naval service, aud 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 or marine. who may have died or been killed
i'll the military or 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 as have been disabled in such ser
vice. to the value of one thousand dolars provided
that the above exemptions shall not apply to any
niturc- shall be assessed at value exceeding one
thousand dollars.
". That where property has been injured or de-
stroyed by the enemy, or the owner thereof has
been temporarily deprived of the use or occupancy