The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1864-06-29
An Act to Amend the Tax Laws.

and third sectious ~ the act 70 levy addi-
tional taxes for the common defence and
support of the Government. approved Sc
venteenth Of February, eighteen hundred
and sixty-fnur, be amended aud re-enac,ed,
so as 70 read as follows, To wit:
Section |. That in addition TO The taxes
levied BY the " Act 10 lay taxes for the
common defence. aud to carry on The CO.
vernment OF the Confederate States" ap-
proved April "a. 1858, there shall he levied,
from the l-tk day &C February. 1854, On
the subjects Ut taxation hereinafter men,
toned. and collected from every person,
cnpartnership, association or corporation,
liable therefor, taxes as follows, 10 wit:
l. Upon Tie value of all property. real.
personal and mixed. of every kind and de-
scription, not hereinafter exempted or tax
I'd at different rate, five per cent. |: Pro-
uidsd, Thst from the tax on the value nf
prnpert, emplosed in agriculture shall be
deducted the value OF the tax in kind de-
tised therelrom during the same year, as
assessed under the law imposing il. and
delivered to the Government, whether de.
lisered during the year or afterwards. in
Guiding the bacon. deliverable after. and
rot prior 10, the assessment Of the tax on
property emplosed in agriculture. a. alore.
said and the callection d! the tar on such
property shall be suspended after assess
mrnt. under The order Of the Secretary Of the
Treasury, unlil tie value Of the Vthe 10 he
deducted can be ascertaincd, and wheu so
ascertained. il shall be the duty Of The posi-
quartermastcr 10 certify, and 81 the district
collector IL deduct. the value Of such tithe,
aud any balance fund due may be paid in
bonds and certi6eaIrs therefor. authorized
~ the Act 10 reduce the currency and to
authorize new issue OF notes and bonds. y
N like manner a nther taxes. payable dur
Ing the year: Proridei, That no credit shall
te allowed beyond five per cent.
H. On the value of gold and silver ware
and plate, jewels, ,jrwelry, and watches, ten
per cent.
Ill. The value of property taxed under
this section shall be assessed on the basis
OF the market value oi the same. or similar
property in the nelshborhood where assess
Ell. in the year eighteen hundred and sixty. !.
except in Cases where lands. slaves, cotton.
and tobacco have been purchased since the
Isl day Of January, 1862, in which case
the said land. slaves, eaitnn. and tobacco
q purchased. shall be assessed at the price
actually paid for the same by the owner |:
Provided, That land purchased by reiu>
gees. and held and occupied bs them far
their own use and residence, shall be a.
sessed according 70 is market value in the
year 1860.
SEC Q. That section second Of m act
entitled AN act 10 levy additional taxes
for the common defence anil support OF the
Government" approved 18th February.
1864. be, and the same il hcrcbs repealed
and il j. hereby declared. that all the pro.
perty and assets Of corporations. associa-
tions, and joint stock companies. Of every
description, whether incorporated or not,
shall be assessed and taxed in the same
manner. and 10 the same extent, a. the
property and assets Of individuals; the tax
on such property and isscts. 10 be assessed
against. and paid by. suol corpprations.
associations and joint stock companies !:
Prouided. That no bank OF banking compa-
ny shall be liable 70 pay a tar upon de-.
poslts ~ money 10 the credit nf and subject
e the checks ef others: Provided further.
That the stock, shares nr interests. repre-
senting property Or assets in corporations
Or joint stock companies. or associa,ions.
shall not be assessed or taxed. And, pro,
cidedJerfher. That ell property within che
encmy's lines be. and ihe same is hereby,
exempted from oil taxation 90 long as il re-
mains in the enemy,s lines.
SEo. 8. That paragraph one. Of section
three, ofan act entitled !. An act 20 levy ad-
ditional taxes ior the common defence and
mpport Of the Government" approved l7th
February, 1864, be, and the same is hereby,
amendcd and re-enacted, 50 as to read as fol-