The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1864-03-01
THE NEW TAX BILL,

An Act to lay additional tares for the common de-
fence and support ofthe Government.
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 the Government of the Con-
federate States,r approved Oath of April 1863.
there shall be 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:
|. Upon the value of property, real, personal and
mixed. of every kind and description not hereinaf
ter exempted taxed a 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,
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.
Ill. The value of property taxed under this sec
tion 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 where land, slaves, cotton 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 interests held
in any bank, banking company association, canal
navigation importing. exporting, insurance, manu-
featuring, 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 upon the basis of the market value
of such property i'll 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. l. Upon the amount Of all gold and silver
coin, gold dust, gold silver bullion whether held
by the banks or other corporations individuals
4 n L
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
ected according to the value thereof at the place
where the tax is paid.
III. Upon the amount of all solvent credits and
of all bank bills and all other papers issued
rency, exclusive of interest bearing Confeder
treasury notes, and not employed in a registered.
business the income derived from which is taxed.
Sec A. Upon profits made in trade aud business,
as follows:
l. On all profits made by buying and selling spr-
tuous liquors. flour. wheat, corn, rice sugar, mo.
usses 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 q oths hats. wagons,
harness, coal, iron. steel nails, at any time be-
tween the 1s of January, 1868 and the st January
1861 ten per cent, in addition to the tax on such
profits as income under the act to lay taxes for the
common defence. and carry on the Government of
the Confederate States approved April oath, 1863
III. On all profits made by buying and selling
money, gold. silver, foreign exchange stocks notes
debts. credits, obligations of any kind, and any
merchandise, property effects Of any kiud not
in the preceding paragraph, between
the times named therein. teS per cent, in addition
to the tax ON such profits income, under the act
aforesaid.
I'll. On the amount of profits exceeding twenty
five per cent, made during either of The years 1863
and 1864 by any bank banking company, insu-
rance canal, navigation, importing and exporting
express, railroad, manufacturing dry
dock. other joint stock company of any drscrip
ton. whether incorporate not. twenty five per
cent such excess.
Sec 5. The following exemptions from taxation
under ibis act shall be allowed. to- wit:
|. 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 one hundred dol
lars; and for each son actually engaged i'm the army
Or navy, who has died or beef 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 or marine. who may have died been killed
IN the military naval service. or where there is
no widow, then of the family. being children.
20 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 thousand dollars provided
hat the above exemptions shall not apply to any |
whose property, exclusive of household fur
liturc, shall be assessed q value exceeding one
thousand dollars.
Nv. That where property has been injured or de-
'troyed by the enemy, or the owner thereof has |
'een temporarily deprived of the use occupancy |