The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1865-04-11

assessed against and paid by such corporations,
/ associations and joint stock companies; Provided.
I That bank or banking company shall be liable
to pay tax deposits of money TO the credit of,
and subject to the checks of others; and provided
further That the stock shares repre- senting pro-
perry assets in corporations, associations joint
stock companies shall not be assessed or taxed as
property under this act; but the dividends derived
therefEem shall be subject It. be taxed as income
under existing laws
II. Upon the amount of all gold and silver coin,
and upon the amount of all moneys held abroad or
bills of exchange drawn therefor. promssory notes.
rights. credits and securities payable IN foreign
/ countries, and upon the value of all gold dust
gold and silver bullion, valued in specie. twenty per
cent; and upon the value of gold and silver wares,
plates. jewels. iewelry and watches, valued the
basis of the value of such property in the year 1861
/ ten per cent.
Iii. Upon the amount of all moneys, except those
mentioned in paragraph two, bank bills, treasury
notes and other paper issued as currency, on hand
deposit the day of the approval of this act,
five per cent.
" Upon the amount Of all solvent credits, ex-
cept those mentioned in paragraph two, five per
| cent: Provided, That all the bonds and stocks
issued by the confederate States orby any State,
and all loans to the confederate States shall be
empt from taxation, except as to the interest pay
| able thereon, which shah be taxed as income under
existing laws; Provided further, That the interest
on the bonds, stocks obligations OF the confeder
ate States, OF any State, shall not be taxed as
income in cases where the acts under which they
thereon shall be exempt from taxation.
v. Upon profits made by buying and selling mer
chandse effects, or property of any description, or
money, gold, silver stocks, credits obligations
OF any kind at any time between January lst 1865,
ard January lst, 1866 ten per cent, i'll addition to
the tax such profits as income. Said profits to
be ascertained by the difference between the price
paid in confederate treasury notes, including all
costs and charges, and the price realized in the
currency; Provided, That if the objects of
sale purchased at any time since January 1st,
1868, this additional tax shall attach the profits
realized on the sale thereof during the year 1865.
VI. Upon the amount of profits exceeding twenty
five per cent made during the year 1865 by any
bank banking company, Insurance. canal navi-
CATION. importing exporting, telegraph, express,
railroad manufacturing, mining, dry dock, or other
joint stock company, of any description, whether
Incorporated twenty five per cent; Provided,
That this tax shall apply individuals and part
nerships engaged in trade or in any business en-
ployment enumerated in this paragraph, well as
to corporations or joint stock companies. Provided
further, That individuals and partnerships who
have not been assessed or who have not paid for
the year 1864, the tax of twenty-five per cent i'm
posed OH the excess of profits over twenty five per
cent for'hat year. shall be assessed and required to
pay during the year 1865 twenty-five per cent on
the Of profits, twenty five per cent, |
realized during the year 1864.
Sec. 2. The property, the income and monies of
hospitals asylums, churches schools, colleges and
charitable institutions, shall be exempt from taxa
ton under the provisions of this act. or any other
law All property within the lines of the enemy |
shall be exempt from taxation, so long as it remains
within such lines but an income derived therefrom
shall be taxed as income under existing laws. The |
exemptions enumerated in paragraphs one two and |
three of section five of the act, entitled an act
levy e>idtioEGl taxes Cor the common defence and |
support of the goVernment,' approved 18th Feb,
1864, are hereby enacted: household furniture
when the value does not exceed three hundred dol
lars, on the basis of the value thereof in the year
nv
person for the use and consumption of his family,
including slaves, poultry, fruit aud the products of
gardens, when said poultry. fruit and products
raised for the family Of the producer, and not for
sale, corn bacon and other agricultural products,
which We're produced in the year 1864, and neces
sary for tue tax payers family, including slaves,
during the present year, and in his possession on
the day of approval of this ac shall be exempt from
taxation.
Sec. 3. That the taxes property for the year
1865, imposed by this act, shall be assessed on
the day of the passage of this act, and be due and
collected on the lst day of June next, as soon
profits for the year 1865 shall be assessed and col
lected according to the provisions of existing laws
in regard to the assessment and collection Of taxes
on incomes, and all the taxes imposed by this act.
as well the taxes on incomes and profits, and the
specific tax, and taxes sales. shall be payable in
confederate treasury notes, of the issue, in
of Indebtedness authorized by act
entitled IAN act to reduce the currency and to
18TH 1864 at par, without any allowance
for INTEREST," Provided, That at least one half of
said shall be paid in treasury as afore
said, and, provided further, That the tax for the
increased pay of soldiers shall be paid in confeder
ate treasury notes. of the issue, only. And it
Is hereby enacted that the certificates of indebted
ness, authorized by the said act of February 18TH
1864 may be issued for debts contracted prior to
the passage Of said act. And the Agent of the
Treasury of the Trans Mississippi Department, be
and be is hereby authorized issue, under reguIa
ons to be prescribed by the Secretary of the Treas
ury the certificates Of indebtedness provided for in
said of February IL th 1864 for debts contracted
prior subsequent to the passage of said act, in
The Trans Mississippi Department, aud that all the
above mentioned shall be received in
payment OF sad taxes, i'll Ike manner and to the
extent the certificates originally authorized
by Ike said act of 18th February, 1864, subject TO
he provisions above mentioned.
Sac. 4. That upon all the subjects of taxation
in this act and the act approved 18th
1864, entitled ian act to amend an act
entitled act to lay taxes for the defence
md carry the Government of the confederate
States" approved Gath April 1868 there shall be ,
eved and assessed for the year 1865 additional
ak, in money equal to one-eght of the amount Of
he tax the Subjects. imposed for the year I
S65 by this act and the said act of 18th February
S64; which tax shall be payable in confederate S
reasury notes, of the ISSUE only, and shall be
assessed and collected at the same time with the
ther taxes andth money arising therefrom shall {
e first appropriated to the payment of the increased
of the soldiers of the army Provided,
That this additional tax shall not be construed 10
pply t" OF 70 increase the tax-in kind
Sec. 5. Any tax payer, under regulations tn be
in3i # he SA.lIt