The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1864-08-09
THE NEW TAX BILL.


an Act to lay additional tares for the common de-
fence and support Of the Government.
Sec. l. The Congress of the Confederate States
of America do enact, That in addition to the taxes
levied by the TACT to lay taxes for the common de-
fence and to carry the Government of the Con-
federate States approved Oath of April, 1868
there shall be levied, from the passage of this act,
the subjects of taxation hereafter mentioned. and
collected from every person. co-partnership,
citation OF corporation, liable thereto taxes fol-
lows, to wit:
/. Upon the value of property, real, personal and
mixed. of every kind and description. not hereinaf
ter exempted or 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 hererom,
assessed under the law imposing it, aud delivered
to the Government: Provided that no 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 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 owner.
Sec =. 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 or 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 neigh where assessed
in such currency may be in general use there, in
the purchase and sale of such property at the time
! of assessment.
Sec3. l. Upon the amount of all gold and silver
coin. gold dust gold silver bullion, whether held
by the banks other corporations individuals.
held
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.
IT. Upon the amount of all solvent credits. and
of all bank bills, and all other papers issued as
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-
ltuous 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, cotton yarns,
wool wooden, cotton or mixed cloths. hats. wagons
harness, coal, iron. steel or nails at any time be-
tween the LIST of January 1868 and the LIST January
1865 ten per cent, in addition to the tax on such
profits income under the TACT to lay taxes for the
common defence. and carry on the Government of
the Confederate States approved April Oath, 1863.
IL. On all profits made by buying and selling
money, gold silver, foreign exchange, stocks
debts, credits, 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 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, navigation importing and exporting,
telegraph, express railroad. manufacturing. dry
dock other joint stock company of any des Grip
ton. whether incorporate not twenty five per
cent on such
Sec s. The following exemptions from taxation
under this act shall be allowed. to-wit:
l. 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
navy, who has died or been killed in the mill
tary or naval service, and who was member of the
family when he entered the service to the further
value of five hundred dollars.
III. Property of the widow of any officer, soldier
in the military naval service, where there is
no 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 sneh have been disabled in such SER
vice. to the value of thousand dollars; provided
that the above exemptions shall not apply to any
person, whose property. exclusive of household fur
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