The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1864-04-05
THE NEW TAX. BILL.

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 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 be levied, from the passage of this
on the subjects Of taxation hereafter mentioned and
collected from every person. par tnership.
ciation corporation liable thereto, taxes as fol-
lows, to wit:
l. Upon the value of property, real personal and
mixed, of every kind and description, hereinaf
ter exempted taxed ut a different rate five FER
cent: Provided. that from this tax the value of
property employed in agriculture, shall be deduct
cd the value of the fax in kind delivered therefrom
as assessed under the law imposing it. and delivered
to the Government: Provided that no credit shall
be allowed beyond five per cent.
IL On the value of gold and silver wares and
plate jewels. jewery 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 the neigh
horhood where assessed in the year 1860. except in
eases wher. land, slaves, cotton tobacco have
been purchased since the l>t 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 Z. On the value of all shares or interests held
i'll 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
~0N'
cent
/. The value of property taxed under this section
shall be assessed upon the bass of the market value
OF such property III the neighbohood where assessed
i'll such currency may be in general use there. in
the purchase and sale of such property at the time
of asses Snrnt.
Sec 3. l. Upon the amount of all gold and silver
coin gold dust gold or silver bullion, whether held
by the banks other corporations individuals.
five per cent; and upon all moneys held abroad,
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.
II. Upon the amount of all solvent credits and
of all bank bills. and all other papers issued
rency. exclusive of non interest bearing Confederate
treasury notes, and no: employed in a registered
business the income derived from which is taxed,
five per cent
Sec 4. Upon profits made in trade and business,
follows
L On all profits made by buying and selling spr-
ituous liquors flour wheat, corn, rice, sugar, mo-
lasses syrup, salt, bacon, pork. hogs, beef OF
beet cattle, sheep. oats, hay. fodder, hides,
leather, horses, mules boots. Shoes, cotton yarns
wool. wooden, cotton or mixed cloths. hats. wagons.
harness, coal iron. steel nails at any time be-
the lst of January 1868. and the st January
1865, ten per Cent, in addition to the tax on such
profits income under the ACT to lay taxes for the
common defence. and carry the Government of
the Confederate States, approved April 24th, 1868
II. VA ptouIS hduP ny ptyilS ana SelllnG
money, gold, silver foreign exchange, stocks notes
debts. credits, or obligations of any kind and any
merchandise. property or effects of any kind, not
enumerated i'll the preceding paragraph, between
the times named therein. ten per cent. in addition
to the such profits income, under the act
aforesaid
III. On the amount of profits exceeding twenty
five per cent. made during either of the years 1868
and 1864. by any bank or banking company, insu-
rance, canal navi gatnn. importing and exporting,
telegraph. express. railroad manufacturing. dry
dock. other joint stock company of any descrip
ton, whether incorporate or not, twenty five per
cent such
Sec 5. The following exemptions from taxation
under this act shall be allowed. to wit:
|. Property of each head Of 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 son actually engaged in the army
or uayy, who has died or been 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 murine. who may have died or been killed
in the military or 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
marine, actually engaged in the military naval
service of such have been disabled in such
vice. to the value of one thousand dollars; provided
that the above exemptions shall not apply to- any
person, whose property exclusive of household fur
niture. shall be assessed at value EXCEEDING one
thousand dollars.
" That whore property has been injured or de-
stroyed by the enemy, the owner thereof has
been temporarily deprived of the occupancy