The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1864-05-17
THE NEW TAX BILL.

An Act to lag 0dditional tares for the de-
fence and support ofMe Government.
Sec. |. 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. CO. partnership, asso-
citation corporation, liable thereto, taxes as fol-
lows, to wit:
|. tp"n 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 on the value of
property, employed i'll agriculture, shall be deduct
ed 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.
H. On the value OF gold and silver wares and
plate. jewels. jewclry and watches, ten per cent
Ill. The value of property taxed under this
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 OF 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 owner. -.
Sec 2. On the value of all shares or interests held
in any bank, banking company association, canal
navigation, importing, exporting, insurance, manu-
tacturing 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 rket value
OF such property in the neg borhood where assessed
IN such currency as may be i'll general use there in
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 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 t." 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 ell other papers issued
rency, exclusive of non interest bearing Confedera
treasury notes, and not employed in a registered
business the income derived from which is taxed.
five per cent.
Sec T. Upon profits made in trade and business
as follows:
|. On all profits made by buying and selling spir-
ituous liquors. -four, wheat, corn, rice, sugar mo-
laSses or syrup, SALT bacon, pork. hogs. beef or
beet cattle sheep. oats. hay. fodder, hides,
leather, horses mules boots, Shoes, cotton warns.
wool WOODEN, cotton or mixed cloths. hats. wagons.
harness, coal, IRON steel nails, at any time be-
tween the lst of January, 1868. and the st January
1863 ten per cent, in addition to the tax on such
profits as income under the ''act to lay taxes for the
common defence. and carry the Government of
the Confederate States approved April 24h 1863
IL. 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 III the prect ding 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. dry
dock. or other joint stock company of any descrip-
ton, whether Incorporate not twenty five per
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 a family to the value
of five hundred dollars 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 uavy. or who has died or been killed in the mill
tary or naval service. and who member of the
family when he entered the service, the further
value IF 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
widow. then of the family. being minor children
Ia 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 have been disabled in such ser.
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
niturc, shall be assessed at a value exceeding one
thousand dollars.
w. 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