The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1864-12-27
THE NEW TAX BILL.

An act to lag additional tares for The common de-
fence and support Of the Government.
Sec. |. 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 Oath Of April, 1868.
there shall DC levied, from the passage of this act,
the bjects of taxation hereafter mentioned and
collected from every person. partnership, 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 DIES cription not hereinaf
ter exempted taxed at different rate, five per
cent Provided, that from this tax on the value of
property, employed in agriculture. shall be deduct
cd the value of the in kind delivered therefrom,
assessed under the law imposing it. and delivered
to the Government: Provided, that 10 credit shall
be allowed beyond five per cent.
II. On the value of gold and silver and
plate. jewels. jewplry 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. similar property in the eigh
borhood where assessed in the year 1860 except in
cases whrrJ 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 owner.
Sec ,. On the value of all shares interests held
in any bank. banking company or association. canal
navigation, importing, exporting, insurance, manu-
fcturng, 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 in the neighborhood where assessed
III 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,
upon the amount of all bills of exchange, drawn
therefor 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 not employed in registered
business the income derived from which is taxed,
five per cent
Sec A. Upon profits made in trade and business,
as follows:
|. On all profits made by buying and selling spr-
ituous liquors. flour. wheat, corn, rice, sugar mo-
lasses or syrup, salt, bacon. pork. hogs, beef or
beef cattle, sheep. oats, hay. fodder, hides,
leather, horses, mules. boots, Shoes, cotton yarns.
wool. wooen, cotton or mixed cloths. hats. CONS
harness, COAL iron. steel or 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 'act to lay taxes for the
the Confederate States, approved April Oath, 1868
H. 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
enumerated in the preceding paragraph, between
the times named therein. ten per cent. in addition
to the tax 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 1864, by any bank or banking company, insu-
rance, canal, navigation, importing and exporting,
telegraph. express. railroad, manufacturing, drv
dock. other joint stock company of any descrip-
ton whether incorporate or not twenty five per
cent such excess.
Sec 5. The following exemptions from taxation
under this act shall be allowed. to- wit:
l. Property of ach head of a 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 gagged in the army
navy, or who has died or been killed in the mill
tary or naval service. and who a member of the
family when he entered the service, to the further
value ef five hundred dollars.
ii. Property of the widow of any officer soldier
sailor or 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 ar
marine, actually engaged in the military or naval
service. eff such have been disabled in such SER
vice. to the value of one thou dollars: provided
that the above exemptions shall not apply to any
person. whose property exclusive of household fur
nturc. shall be assessed at a value exceeding one
housand dollars.
~. That where property Las been injured or de-
StroyPd by the enemy, the owner thereof has
been temporarily deprived Of the occupancy