The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1864-11-01
TIE NEW TAX BILL.

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! An Act to lay additional tares for the common de-
fence and support Of the GorcTnment.
! 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 aud to carry the Government of the Con-
federate States approved 24th of April, 1868.
there shall DC levied, from the passage of this act
the of taxation hereafter mentioned, and
collected from every person, partnership asso
citation corporation liable thereto, as fol-
lows to wit:
I. Upon the value of property, real, personal and
mixed of every kind and description, not hereinaf-
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 fax in kind delivered therefrom,
assessed under the law imposing it. anu delivered
to the Government 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 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 whers land, slaves, cotton tobacco have
been purchased since the LIST 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 by the
Sec 2. On the value of all shares or interests held
i'll 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 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 neghborhood where assessed
i'll such currency may be in general use there, in
the purchase and sale of such property at the time
Of assessment.
Sec 3. l. Upon the amount of all gold and silver
coin, gold dust gold silver bullion whether held
by the banks other corporations individuals.
n hell ali or
upon the amount of all bills of exchange drawn
therefor foreign countries, fax 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 non interest bearing Confederate
treasury notes, and no: 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:
l. On all profits made by buying and selling spir-
iuous liquors. -four, wheat, corn, rice, sugar, mo-
asses or syrup, salt, bacon pork. hogs beef
beef 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 ahe LIST of January. 1863 and the Ist 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 the Government of
the ton1ederate otateS, approved April 24th, 1868
H. On all profits made by buying and selling
money, gold, silver. foreign exchange, stocks, notes
debts, credits, or 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 on such profits 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, drv
dock. other joint stock company of any descrip-
ton, whether incorporate not, twenty five per
cent such
Sec 5. The following exemptions from taxation
under this act shall be allowed to- wit:
I. 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 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.
II. Property of the widow of any officer soldier |
sailor marine, who may have died 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.
Ill 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 one thousand dollars; provided
hat the above exemptions shall not apply to any
person, whose property. exclusive of household fur
liturc, shall be assessed at value exceeding one
thousand dollars.
". That where property has been injured or de-
troyed by the enemy, or the owner thereof has