The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1864-05-24
THE NEW TAX BILL,

an Act to lag additional tares for the common de-
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 ''att to lay taxes for the de-
fence and to carry ON the Government of the Con
federate States,' approved 24th of April, 1863
there shall be levied, from the passage of this act
the subjects of taxation hereafter mentioned. and
collected from every person. partnership, asso-
citation corporation, liable thereto, taxes as fol-
lows, to wit: ..-'.
l. Upon the value Of property, real, personal and
mixed of every kind and description not hereinaf-
ter exempted taxed at a 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.
LII. On the value of gold and silver and
plate. jewels. jewelry and watches, ten per cent.
Ill The yalue of property taxed under this sec
ton sh,s1 5e assessed the basis of the market
value = ne same OF 81 milar property in the neigh
bor.o-+ where assessed in the year 1860. except in
cas- EtieI1 land, slaves cotton tobacco have
bee. l.scha~ since the lst day of January. 1862,
in which the said land slaves, cotton and to-
bacco SO purchased, shall be. 1T the arce
actually paid for the same by the u"H~r.
Sec 2. On the value Of all shares Interests held
IN any bank, banking company or assoc ati"n, CANAL
navigation importing, exporting, Insurance., manu-.
featuring, telegraph express, l-iiroad 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
II such property in the neghborhood where assessed
ia sHch currency may be in general use there in
ID" purchase and sale of such property, at the time
ID assessment.
Sec g. |. Upon the amount of all gold and silver
com gold dust, gold silver bullion, whether held
by the banks or other corporations Individuals
tive per cent; and upon all moneys held abroad,
upon the amount of all bills of exchange, drawn
therefor foreign countries tax of five per cent?
sdch tax upon money abroad to be assessed and col
lecttd according to the. value thereof at the place
where the tax paid.
IL. Upon the amount of all solvent credits. and
of all bank bills, and all other papers sssed
rency exclusive of non interest bearing Confederate
treasury notes, and not employed in a registered
business the income derived from which is taxed.
five per cent.
Sec 1. Upon profits made in trade and business,
1. 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, 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 lst of January 1868. aud the st January
1868 ten per cent, in addition to the tax such
profits income under the act to lay taxes for the
common defence, and carry on the Government of
the Confederate States approved April 24th 1868
Ill. 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 effects of any kind. not
enamerated in the preceding paragraph, between
the times named therein. ten per cent, in addition
to the tax on such profits income, under the act
afopasad
III. On the amount of profits exceeding twenty
five per cent made during either of the years 1868
and 1864. by any bank or banking company, insu-
renee, canal navigation, importing and exporting,
telegraph, express. railroad manufacturing, dry
dock. or other joint stock company of any descrip-
ton, whether incorporate not, tw enty five per
cent such excess.
Sec 5. The following exemptions from taxation
under this act shall be allowed. to- wit:
|. Property of each head of family to the value
of five hundred dollars aud for each minor child of
the family to the further value Of one hundred dol
lars; aud for each actually engaged in the army
or navy. who has died been killed in the mill
tary naval service, aud who was member of the
family when he entered the service, to the further
value of five hundred dollars. l
III. Property of the widow of any officer soldier
sailor or marine who may have died or been killed
i'm the military naval service, or where there is
20 widow. then Of the family, being minor children
to the ,iue 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 one thousand dollars; provided
that The above exemptions shall not apply to any
person. whose Enperty exclusive of household for
nture' sh5 Zee assessed at a value exceeding one
thousand Ill ~~
w. TIL s-s.a property has been injured or de-
stroyed by the enemy, the owner thereof has
been temporarily deprived Of the use occupancy