The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1864-10-25
THE NEW TAX BILL,

uuUNtOHut COHtHtOH
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 TACT 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 De levied from the passage of this
the subjects of taxation hereafter mentioned, and
collected from every person, co-partnershIp, asso-
citation corporation, liable thereto, taxes as fol-
lows, to wit:
mixed, of every kind and description. not hereinaf
ter exempted 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 in kind delivered herefrom,
assessed under the law Imposing it, and delivered
to the Government: Provided, that credit shall
be allowed beyond five per cent.
H. On the value of gold and silver and
plate. jewels. jewery and watches, ten per cent.
Ill. The value of property taxed under this
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 wher5 land, slaves. cotton or tobacco have
been purchased since the 1st day of January 1862,
in which case the said land, slaves cotton and to-
bacco purchased shall be assessed at the price
actually paid for the same by the owner
Sec 2. On the value of all shares interests held
in any bank, banking company association, canal,
navi CATION 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 hborhood where assessed,
in such currency may be in general there, in
the purchase and sale of such property, at the time
of assessment
Sec g. l. 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,
upon the amount of all bills of exchange, drawn
therefor on foreign countries. tax of five per cen
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 as cur
rency exclusive of interest bearing Confederate
treasury notes, and not employed in registered
business the income derived from which is taxed
five per cent.
Sec T. Upon profits made in trade and business
follows:
l. On all profits made by buying and selling spir-
ituous liquors. flour, wheat corn, rice, sugar. mo-
lasses or syrup, salt. bacon. pork. hogs. beef or
beef cattle, sheep oats, hay. fodder, raw 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-
tween the LIST of January, 1868 and the LIST January
1863 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 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 anv
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 banking company insu- |
rance canal, navi CATION. importing and exporting
express. railroad. manufacturing. div
dock. other joint stock company of any descrip-
ton, whether incorporate not twenty five Der |
cent on such excess.
Sec 5. The following exemptions from ia xation
under this act shall be allowed. to-wit:
I. 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 one hundred dol
lars; and for each son actually engaged in the armv
Or navy, who has died been killed in the mill
tary naval service, and who a 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 or been killed
IN the military naval service, where there il
no widow. then of the family. being minor children
10 the value of one thousand dollars.
Ill. Property of every officer, soldier sailor ar
marine, actually engaged in the military Or naval
service. of such as have been disabled in such SER
'ice to the value of thousand dollars provided
hat the above exemptions shall not apply to apv
,erson, whose property exclusive of household fur
liture, shall be assessed at a value exceeding One
thousand dollars.
". That where property has been injured or de-
troyed by the enemy, the owner thereof has
een temporarily deprived of the use or occupancy