The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1865-02-21
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 on the Government of the Con-
federate States approved 24th of April, 1868.
there shall be levied. from the passage of this act,
the bjects of taxation hereafter mentioned and
collected from every person. partnership, asso-
citation corporation liable thereto, taxes as fol-
lows, to-wit:
I. 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 the value of
property, employed ia 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
II. On the valve of gold and silver wares and
plate, jewels. jewelry and watches, ten per cent
III. 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 wher3 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 2. On the value of all shares interests held
in any bank. banking company or association, canal
navigation, importing, exporting, insurance. manu-
featuring telegraph express, railroad and dry dock
companies ana all otnef 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 in the neghborhood where assessed
in such currency may be in general use there in
the purchase and sale of such property, the time
of assessment.
Sec 3. l. 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
fivaD cent md all ba1d
upon the amount of all bills of exchange, drawn
therefor on 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 as
rency, exclusive of non interest bearing Confederate
treasury notes, and not employed in registered
business the income derived from which is taxed
Ave per cent.
Sec 4. Upon profits made in trade and business,
follows:
l. On all profits made by Buying and selling spir-
tuous liquors. flour, wheat corn, rice, sugar, mo-
lasses 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. wagons
harness, coal, iron. steel or nails, at any time be-
tween the 1st of January, 1863 and the st January
1865, ten per cent. addition to the tax on such
profits income under the 'act to lay for the
common defence, and carry on the Government of
the Confederate States,' approved april 24th 1868
III. 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 i'll 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 twentv
five per cent, made during either of the years 1861
and 1864, by any bank or banking company, insu
rance, canal, nayi CATION importing and exporting
telegraph. express. railroad, manufacturing, drv
dock. or other joint stock company of any descrip
ton, whether incorporate not, twenty five Der
cent on such excess.
Sec 5. The following exemptions from taxation
under this act shall be allowed. to-wit:
I. Property of each head of family to the val,e
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 army
r navy or who has died or been killed in the mill
tary or naval service. and who member of the
family when he entered the service to the further
value of five hundred dollars.
IL. Property of the widow OF any officer, soldier
sailor marine. who may have died or been killed
In the military naval service. or 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
vice. to the value of one thousand dollars provided
that the above exemptions shall not apply to anv
person, whose property. exclusive of household fur
niture, shall be assessed at value exceeding on.
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 occupanev