The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1864-03-08
THE NEW TAX BILL.

An Act to lay additional tares for the common de-
fence and support Of the Governments
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 on the Government of the Con-
federate States,'' approved Oath of April, 1863.
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 herenaf
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 therefrom
assessed under the law imposing it. and delivered
to the Government: Provided that credit shall
be allowed beyond five per cent.
H. On the value of gold and silver 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 same, similar property in the neigh
borhood where assessed in the year 1860. except in
cases wher1 land, slayes, cotton or tobacco have
been purchased since the 1st 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 or interests held
in any bank banking company 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 in the neghborhood 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. 1. Upon the amount of all gold and silver
coin, gold dust, gold silver bullion whether held
by the banks or other corporations or Individuals
nanf. apHn NALL hoIl oh
upon the amount of all bills of exchange drawn
therefor foreign countries. tax of five per cent;
such tax upon money abroad to be assessed and col
ected 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 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 all profits made by buying and selling spr-
ituous liquors, four wheat, corn, rice sugar, mo-
lasses or syrup, salt, bacon pork hogs, beef or
beef cattle. sheep. oats, hay. fodder, raw hides,
leather, horses, mules. boots, Shoes, yarns,
wool, WOODEN, cotton mixed cloths hats. wagons,
harness, COAL iron. steel or nails. at any time be-
tween the 1st of January 1868 and the st January
1865. ten per cent in addition to the tax on such
profits as income under the act to lay for the
common defence. and carry the Government of
the Confederate States, approved pril Oath, 1863
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 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 1864, by any bank or banking company, insu-
rance, canal navi CATION, importing and exporting,
telegraph, express, railroad manufa 1turing., dry
dock. other joint stock company of any descrip-
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 son actually engaged in the army
or navy, or who has died or been killed in the mill
tary naval service, and who was member of the
family when be 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
in the military naval service, where there is
no widow, then of the family, being minor children
to the value of one thousand dollars.
Ill. Property of every officer, soldier, sailor or
marine. actually engaged in the military naval
service of such have been disabled in such SER
vice. to the value of one thousand dollars; provided
that the above exemptions shall not apply to any
person, whose property exclusive of household fur
niture, 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