The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1865-01-17
THE NEW TAX BILL.

dOGIFOH0t
fence and support Of the GoueTnment.
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 de-
fence and to carry on the Government of the Con-
federate States approved 24th OF April, 1863
there shall DO levied from the passage of this act.
on the subjects of taxation hereafter mentioned and
collected from every person, co partnership,
citation corporation, liable thereto, taxes fol-
lows, to-wit:
l. Upon the value of property, real, personal and
mixed, of every kind and'deseription, not hereinaf
ter exempted taxed at 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.
IL. On the value of gold and silver wares and
plate, Jewels. iewelry and watches, ten per cent.
III. The value of property taxed under this sec
ton shall be assessed on 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 whers land, slaves, cotton or tobacco have
been purchased since the lst 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 g On the value of all shares Or interests held
in any bank, banking company association, canal,
navigation, importing, exporting, insurance, manu-
featuring telegraph express. railroad and dry dock
companies, and all other joint stock companies of
every kind, whether incorporated or not, i've 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 at the time
of assessment.
Sec 3. I. 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
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
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 non interest bearing Confederate
treasury notes, and not employed in registered
business the income derived from which is taxed
FIVE per cent.
Sec 4. Upon profits made in trade end business
as follows:
| 1. On all profits made by buying and selling spir-
ituous liquors. -four, wheat, corn rice, sugar.
| lasses syrup, salt bacon, pork. hogs, beef or
beef cattle, sheep. oats, hay fodder raw hides
leather, horses mules boots, shoos cotton yarns
wool, WOODEN, cotton or mixed cloths. hats wagons
harness., COAL iron. steel or nails, at any time be-
the 1st of January. 1868 and the lst January
1865. ten per cent, in addition to the tax on such
profits as income under the act to lay taxes for the
! common defence, and carry on the Government of
the Confederate States" approved Apri Oath, 1863
IL. 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 or effects of any kind not
| enumerated in the preceding paragraph, between
the times named therein, ten per cent, in addition
to the 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 1867
and 1864, by any bank or banking company, insu |!
rance, canal navigation. importing and exporting,
telegraph, express. railroad. manufacturing DIV
dock. other joint stock company of any deser1.
ton, whether incorporate not, twenty five Der
cent such excess. |
Sec 5. The following exemptions from TAXATION |
under this act shall be allowed. to witt
I. Property of each head of family to the Mine |
of five hundred dollars; and for each minor chill of
the family to the further value Of one hundred9J
lars; aud for each actually engaged in the srmv
or navy, who has died been killed in the Mill
tary naval service, and who was d member Of the
family when he entered the service, to the fptbar
value of five hundred dollars.
II. Property OF the widow of any officer kdd;er
sailor marine, who may have died or be IN ed
in the military or naval service, where ItEere i
widow, then of the family, being minor ellaran
to the value of one thousand dollars.
III. Property of every officer, soldierasilor ar
marine, actually engaged in the military Or naval
service. of such as have been disabled in seh cor
vice. to the value of thousand dollars :roy;5a
that the above exemptions shall not apply to any
person, whose property. exclusive of houselold fur
niture, shall be assessed value exceesino 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 or occupancy