The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1864-08-30
THE NEW TAX BILL.
an Act to lag additional tares for the com

fence and support ofhe Gouernmenh
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 on the Government of the Con-
federate States,'' approved gath of April, 1868.
there shall Do levied, from the passage of this act
the ects of taxation hereafter mentioned and
collected from every person, o-partnership. asso
citation or corporation, liable thereto, taxes fol-
lows, to wit:
/. Upon the value of property, real, personal and
mixed. of every kind and description. not herenaf
ter exempted taxed at a 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
II. On the value of gold and silver and
plate. jewels. jewelry and watches. ten per cent
Ill. The value of property taxed under this sec
ton shall be assessed on the basis of the market
value of the similar property in the neigh
horhood where assessed in the year 1860 except in
cases wher5 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,s 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 association. canal,
navigation, importing, exporting, insurance, manu-
tacturng 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 the neighborhood 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. l. 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 OH foreign countries, tax of five per cent
such tax upon money abroad to be assessed and col
ected 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 interest bearing Confed
treasury notes, and no: employed in a registered
business the income derived from which is taxed
five per cent.
Sec 1. Upon profits made in trade and business
as follows:
J. l. On all profits made by buying and selling spir-
ltuous liquors. flour, wheat, corn, rice, sugar.
asses or syrup, salt, bacon, pork. hogs, beef or
beef cattle. sheep. oats, hay. fodder, hides,
leather, horses, mules. boots Shoes, cotton yarns
wool, WOODEN, cotton mixed cloths, hats. wagons
harness, coal, iron. steel or nails, at time be-
tween the lst of January. 1868 and the LIST January
1868 ten per cent. in addition to the tax on such
profits income under the act to lay taxes for the
common defence. and carry on the Government of
the Confederate States approved Aprl Oath, 1868
IL. On all profits made by buying and selling
money gold, silver, foreign exchange stocks, notes
debts, credits. CIR 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 income, under the act
aforesaid.
Ill. 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. 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:
|. Property of each head of family to the value
of five hundred dollars; and for each minor child of
the family the further value of one hundred dol
lars and for each son actually engaged in the army
or navy who has died or been killed in the mill
tary or naval service and who was a member of the
family when he entered tho 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 or naval service, where there is
no 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 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
nture, shall be assessed at q value exceeding one
thousand dollars.
w. That where property has been injured or de-
stroyed by the enemy, the owner thereof has
been temporarily deprived of the use occupancy