The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1864-07-12
THE, NEW TAX BILL.
IN act to lag additional tares for the com

NtOtttOUNL NE common Ue-
fence and support ofMe 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.' approved oath of April, 1868
there shall be levied. from the passage of this act,
on the subjects of taxation hereafter mentioned and
collected from every person. CO partnership, asso-
citation corporation, liable thereto, taxes fol
lows, to w.t.
|; 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 ON the value of
property, employed in agriculture, shall be deduct
ed the value of the lax in kind delivered therefrom,
assessed under the law imposing it. and delivered
to the Governments 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.
Ill. The value of property taxed under this sec
ton shall be assessed the basis of the market
value of the same. similar property in Tho neigh
horhsod where assessed i'll the year 1860 except in
cases wher5 land, slaves cotton or tobacco have
been purchased since the 1st day of January 1862,
in which case the said land, slaves, cotton and to-
| bacco purchased shall be assessed at the price
actually paid for the same by the owner.
Sec 2 On the value of all shares interests held
in any bank banking company or 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 in The ghborhood where assessed,
in such currency may be in general there, in
the purchase and sale of such property, at the time
! of assessment
Sec 3. |. Upon the amount of all gold and silver
COIN gold dust, gold silver bullion whether held
! by the banks other corporations 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
ieced 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
rcncy. exclusive of non 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:
| ]! On all profits made by buying and selling spr-
iuous liquors. flour, wheat, corn, rice, sugar, mo-
lassrs 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. wagons,
harness. COAL iron. steel or nails, at any time be-
tween the lst of January 1868 and the lst January
1868, ten per cent in addition to the tax such
profits as income under the act to lay taxes for the
common Gefencesand carry on the Government of
the Confederate States, approved April 9th, 1868
II. 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 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 tho amount of profits exceeding twenty
five per cent, made during either of the years 1868
and 1861, by any bank banking company, insu-
rance canal, navigation, importing and exporting,
telegraph, express. railroad manufacturing. dry
dock. other joint stock company of any dcscril-
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:
7. Property of each head of family to the value
&c Eve hundred DO liars: 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
or navy. who has died or been killed in the mill
tary naval service, and who member of the
family when he entered the service, to the further
value of five hundred dollars.
H. Property OF the widow of any officer. soldier
sailor marine. who may have died 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.
III. Property of every officer, soldier, sailor or
marine, actually engaged in the military or naval
service of such havS been disabled in such ser
wee to the value of one thousand dollars: provided,
that the above exemptions shall not apply to any
person. whose property. exclusive of household fur
nturc, shall be assessed at a value exceeding one
thousand dollars.
w. That where property has been injured OF de-
stroyed by the enemy, the owner thereof has
been temporarily deprived of the use or occupancy