The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1864-05-31
THE NEW TAX BILL.

an Act to lag additional tares for the common de-
| fence and support ot'he 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 gath of April 1868.
there shall DC levied, from the passage of this act
on the ects of taxation hereafter mentioned and
collected from every person, partnership,
citation or corporation, liable thereto. taxes fol-
lows, to witt
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 i'll kind delivered therefrom
as assessed under the law imposing it. and delivered
to the Government: Provided, that 10 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
ton shall be assessed the basis of the market
yalae Of the same or similar property in the neigh
borhood where assessed in the year 1860. except in
cases whera land, slaves, cotton tobacco have
been purchased since the lst day of January, 1852,
in which the said land, slaves cotton and to-
bacco so purchased shall be assessed at the price
actually paid for the by the owner
Sec2. On the value of all shares interests held
III any bank, banking company association, canal,
navigation, importing, exporting, insurance, manu-
factuGng, telegraph, express railroad, and dry dock
companies. and all other joint stock companies of
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
ofsuch property III the neghbor0od where assessed,
III such currency may be in general there, III
the purchase and sale Of such property, at the time
OF assessment.
Sec g. |. Upon the amount of all gold and silver
COIN gold dust, gold silver bullion, whether held
by the banks or other corporations or individuals,
five per cent; and upon all moneys held abroad,
therefor on foreign countries, tax of five per cent?
such tax upon money abroad to be assessed and col
lectcd according to the value thereof at the place
where the tax is paid. ID.
IL. Upon the amount of all solvent credits. and
Of all bank bills and all oter papers issued as cur
rcncy exclusive Of non interest bearing Confederate
treasury notes, and no: employed in registered
business the income derived from which is taxed
five per cent.
Sec !. Upon profits made in trade and business
follows:
L On all profits made by buying and selling spir-
ltuous liquors. flour, wheat, corn rice, sugar.
iasSrs or syrup, salt, bacon. pork. hogs, beef or
beet cattle sheep. oats, hay. fodder, raw hides
leather, horses mules. boots, Shoes, cotton yarns
wool Woolen, cotton OF mixed cloths, hats wagons
harness, coal, iron. steel or nails, at any time be-
tween the lst of January, 1868 and the Ist january
1900, ten per cent, III addition to the tax such
profits income under the to lay taxes for the
common defence and carry on the Government of
the Confederate States,' approved April 9th, 1863.
IA. On All pfontS maze ny buying ana selling
money gold, silver, foreign exchange stocks, notes,
debts. credits, or obligations of kind, and any
merchandise, property effects of any kind, not
enumerated i'll the preceding paragraph, between
the times named therein ten per cent, in addition
t" the tax ON such profits income under the act
aforesaid
III: On the amount of profits exceeding twenty
five per cebt made during either of the years 1868
and 1861, by any bank or banking company, insu-
rance, canal, navi CATION importing and exporting,
telegraph, express. railroad, manufacturing, dry
dock. or other Joint stock company of any descrip-
ton, whether incorporate not, twenty five per
cent such excess.
Sec 5. The following exemptions from taxation
under this act shall bhallowed. 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 the further value Of one hundred dol
lars; aud for each actually engaged in the army
or navy. or who has died 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.
II. Property of the~widow Of any officer, soldier |
sailor or marine, who may have died or been killed
III tha military naval service or 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 have been disabled in such SER
vice. 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 a 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