The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1865-03-07
THE NEW TAX BILL.

fence and support ofMe Government.
SIC. |. 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 24th of April, 1863
there shall be levied, from the passage of this act,
the subjects of taxation hereafter mentoned and
collected from every person. partnership, asso-
citation or corporation liable thereto, taxes as fol-
lows, to-wit:
!. l. 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 rInploye in agriculture, shall be deduct
ed the value of the tax in kind delivered therefrom,
assessed under the law imposing it, and delivered
to tn" Governs at: Provided, that no credit shall
be allowed beg Dad five per cent.
II. On the value of gold and silver wares and
plate, jewels. jewelry and watches, ten per cent.
Ill The value of property taxed under this sec
ton shall be assessed the basis of the market
valno of the same similar property in the igh-
borhood where assessed in the year 1860. except in
whrr@ land, slaves. cotton tobacco have
been purchased since the 1st day of January, 1862
in which the said land slaves, cotton and to-
bacco so purchased, shall be- assessed at the price
actually paid for the by the owner.
Sec 2. On the value OF all shares or interests held
in any bank, banking company or association canal
navigation, importing, exporting, insurance, manu-
featuring. telegraph express railroad and dry dock
companies. and all other joint stock companies of
cent
Thp<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. |. 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. or
upon the amount of all bills of exchange, drawn
therefor fore gu countries tax of five per cent;
such tax upon money abroad to be assessed and col
lected according to the value thereof the place
whore 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 Confedera
treasury notes, and not employed in a registered
business the income derived FROM which is taxed.
five per cent
Sec i. Upon profits made in trade and business
l, On all profits made by buying and selling spir-
ituous liquors. -four wheat, corn, rice, sugar, mo-
la>ses or syrup, salt, bacon, pork. hogs. beef or
beef cattle, sheep. oats, hay. fodder, raw hides,
leather, horses. mules. boots. Shoes, cotton warns
wool woolen, cotton or mixed cloths hats. wagons,
harness, COAL iron. steel nails, at any time be-
tween the lSt Of January 1868 and the Ist 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 the Government of
the Confederate States approved April 9th S63
II. On all profits made by buying ana 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 such profits as income, under thesact
aforesaid
Ill On the amount of profits exceeding twentv-
five per cent made during either of the years 1864
aud 1864, by any bank or banking company, iusu-
rance, canal, navigation, importing and exporting
express railroad. manufacture DIV
dock. other joint stock company of any dcscrin
ton, whether Incorporate not, twenty five Der
cent on such excess.
Sec S. The following exemptions from taxation
under this act shall be allowed. WITT
I. Property of each head of a family to the valne
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
or navy. who has died been Killed in the mill
tary naval service, and who was member Of the
family when he entered the 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 or naval
service. of such have been disabled in such SER
vice. to the value of thousand dollars: provided
mat the above exemptions shall not apply to anv
person. whose property. exclusive of household fur
niture shall be assessed at value exceeding one
thousand dollars
". That where property has been injured or de- |
,troyed by the enemy, the owner thereof has
been temporarily deprived of the or occupancy