The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1864-03-29
THE NEW TAX BILL

an 14ct to lag additional tdres 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
levied by the "act to lay taxes for the common de-
fence and to carry the Government of the Con.
| federate States approved Oath of April. 1868
there shall De levied from The passage of this act
the subjects of taxation hereafter mentioned. and
collected from every person. co-partnershp. asso-
citation or corporation, liable thereto taxes fol
! lows, to wit:
l. Upon the value of property, real, personal and
mixed. of every kind and description not hercinaf
ter exempted taxed 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 therefrom,
assessed under the law imposing it. and delivered
to the Government: Provided, that credit shall
be allowed beyond five per cent.
III. On the value of gold and silver and
plate, jewels. jewelry 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
horhood where assessed in the year 1850 except in
cases wherI land, slaves. cotton tobacco have
been purchased since the LIST 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 or interests held
in any bank. banking company or association, canal
navigation. importing. exporting, insurance. manu-
featuring telegraph express, railroad and dry dock
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 in the neighbohood 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. 1. Upon the amount of all gold and silver
coin. gold dust, gold or silver bullion, whether held
by the banks or other corporations or individuals
II Oprp md all hal
upon the amount of all bills of exchange. drawn
therefor on foreign countries, tax of five per cents
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
rency. exclusive of nonnterest bearing Confederate
treasury notes, and not employed in a registered
business the income derived from which is taxed
five per cent.
Sec 4 Upon profits made in trade and business
as follows:
On all profits made by buying and selling spir-
tuous liquors. flour, wheat corn, rice, sugar,
asses syrup, salt, bacon. pork. hogs, beef or
beef cattle. sheep oats, hay. fodder, raw hides,
leather. horses, mules. boots Shoes, cotton yarns
wool. woolen cotton or mixed cloths. hats. wagons
harness, coal, iron. steel nails at any time be-
tween the LIST of January 1868 and the st January
1865 ten per cent, in addition to the tax on such
profits income under the .'aet to lay for the
common defence, and carry the Government of
the Confederate Sta4es.' approved April 24th 1863.
III. On oil 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 i'll the preceding paragraph. between
the times named therein. ten per cent, in addition
to the tax on such profits income, under the act
aforesaid.
Ill. 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-
rance. canal, navigation importing and exporting,
telegraph express railroad. manufacturing. dry
dock. other joint stock company of any descrip-
ton. whether incorporate not, twenty five per
cent on such excess.
Sec S. 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; and for each minor child of
the family tn the further value of one hundred dol
lars and for each actually engaged in the army
or navy who has died erbeen killed in the mill
tary naval service, and who was a member of the
family when he entered the service, to the further
value of five hundred dollars
H. Property of the widow of any officer soldier.
sailor marine, who may have died OF been killed
in the military naval service, or where there is
widow then of the family. being minor children.
to the value 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 i'm such SER
that the above exemptions shall not apply to any
person, whose property, exclusive of household fur
niture, shall be assessed at value exceeding one
thousand dollars.
". That where property has been injured or de-
stroyed by the enemy, the owner thereof has
been temporarily deprived of the use or occupancy