The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1864-11-08
THE NEW TAX BILL.

An Act to lag additional tdres for the common de-
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 on 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, o-partnership,
citation corporation liable thereto, taxes fol-
lows, to wit:
l. Upon the value of property, real, personal and
mixed, of every kind and description. not herenaf
ter exempted taxed different rate five per
cent: Provided. that from this tax the value Of
property, employed in agriculture, shall be deduct
cd 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
ton shall be assessed 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 wher3 land, slaves. cotton tobacco have
been purchased since the 1st day of January, 1862
in which the said land slaves, cotton and to-
baeco purchased, shall be assessed at the price
actually paid for the by the
Sec 2. On the value of all shares or interests held
in any bank, banking company or association, canal
navigation, importing, exporting, insurance, manu-
featuring telegraph express, railroad and dry dock
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
of such property the neigh borhood 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. I. Upon the amount of all gold and silver
COIN gold DUST gold or silver bullion, whether held
by the banks OF other corporations individuals,
five per cent; and upon all moneys held abroad. or
upon the amount of all bills of exchange, drawn
therefor on fore gn 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 not employed in registered
business the income derived from which is taxed,
five per cent.
Sec 4. Upon profits made in trade and business,
as follows:
1. On all profits made by buying and selling spir-
ituous liquors. -four wheat, corn. rice, sugar
lasses syrup, salt, bacon, pork. hogs, beef OF
beef cattle, sheep. oats, hay. fodder, raw 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 LIST of January 1863 and the st January
1865, ten per cent, addition to the tax on such
profits income under the act to lay taxes for the
common defence, and carry on the Government of
the Confederate States, approved April 2lth 1868.
IL. 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 or 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 as 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 descrip-
tion whether incorporate or not twenty-five Der
cent on such excess.
Sec 5. The following exemptions from taxation
under this act shall be allowed. to-wit:
l. 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 ofAone hundred dol
lars; and for each son actually engaged in the army
or navy, or who has died or been killed in the mill
tary naval service. and who a member of the
family when he entered the service, 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
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 or
marine, actually engaged in the military or naval
service. of such 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
nture, shall be assessed a value exceeding one
thousand dollars.
~. That where property has been injured or de- |
stroyed by the enemy, the owner thereof has |
been temporarily deprived of the use or occupancv