The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1864-11-29
THE NEW TAX RfIT

! Hu0HtOHNt COHtHtOH
| fence and support the GoUernment.
| 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 the Government of the Con-
! federate States approved gath of April, 1868
there shall De levied from the passage of this act
on the subjects of taxation hereafter mentioned and
collected from every person. CO partnership, asso-
citation corporation, liable thereto, taxes fol-
lows, to wit:
/. Upon the value Of property, real personal and
mixed, of every kind and description, not hereinaf
ter exempted taxed different rate. five per
cent Provided that from this tax on the value of
property, employed in 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.
II. 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 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 whero 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 same by the
Sec =. On the value of all shares interests held
in any bank, banking company association, canal.
navigation, importing, exporting, Insurance, manu-
facturng telegraph express, railroad and dry dock
companies. and all other joint stock companies of
every kind, whether incorporated or 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 where assessed
in such currency may be in general use there, in
the purchase and sale of such property, at the time
of assessment.
Sec 3. /. 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, or
fho
therefor on foreign countries, tax of FIVE per cent;
such tax upon money abroad to be assessed and col
leced 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 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,
On all profits made by buying and selling spir-
ltunus liquors. flour, wheat, corn, rice, sugar. mo-
lasSes OF 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 mixed cloths. hats wage
harness, coal, iron. steel nails, at any time be-
tween the lst of January 1868 and the lst 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 9th, 1868
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 in the preceding paragraph, between
the times named therein ten per cent, in addition
to the tax on 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 1861, by any bank or banking company, insu-
rance, canal, navi CATION importing and exporting.
express. railroad. manufacturing, dry
dock or 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:
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 of one hundred dol
lars and for each actually engaged in the armv
or navy. who has died or 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
III. Property of the widow Of any officer soldier
sailor marine. who may have died or been killed |
n the military or naval service, or where there is |
10 widow. then of the family, being minor children.
% the value of one thousand dollars.
III. Property of every officer, soldier sailor or
marine, actually engaged in the military or naval
erYice of snch as have been disa bled in such Ser
ice. TO the value of thousand dollars: provided
hat the above exemptions shall not apply to any
erson. whose property. exclusive of household fur
iture shall be assessed at a value exceeding one |
housand dollars.
~. That where property has been injured or de-
troyed by the enemy, or the owner thereof has
cen temporarily deprived of the use or oceun.,o,