The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1865-02-14
THE NEW TAX BILL.

An Act to lag additional tares for the common de-
fence and support ofthe 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 Sates,' approved Gath of April 1868,
there shall 90 icvod, from the passage of this act,
the subjects of taxation hereafter mentioned, and
collected from every person co-rartnershIp' asso-
citation corporation liable thereto, taxes Is fol-
lows, to-wit:
I. Upon the value of property. real, personal and
mixed, of every kind and description. not heronaf
ter exempted taxed a different rate, FIVE per
cent: Provided, that from this tax the value of
property, employed in agriculture, shall be deduct
cd 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 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
value of the same similar property in the neigh
borhood where assessed in the year 1860. except in
wherA 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 association, canal
nav cation. importing exporting, insurance, manu-
acturng, 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 where assessed
in such currency may be in general use there, in
the purchase aud sale of such property, at the time
of assessment. -..-
Sec 3. |. Upon the amount of all gold and silver
CON- gold dust gold or silver bullion. whether held
by the banks other corporations or Individuals
five per cent; and upon all moneys held abroad. or
upon the amount of all bills of exchange. drawn
therefor on tore gu countr tax of five per cent
such tax upon money abroad to be assessed and col
lected according to the value thereof at the place
whore the tax is paid.
H. Upon the amount of all solvent credits. and
of all bank bills, and all other papers issued as cur
rency exclusive of interest bearing Confede rate
treasury notes, and no: employed i'll registered
business the income derived from which is taxed
FIVE per cent.
Sec d Upon profits made in trade and business
as follows:
/. On all profits made by buying and selling spir-
ituous liquors. flour, wheat, rice, sugar mo-
lasses or 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. bats. wagons,
harness, coal, iron. steel nails at any time be-
tween the lst Of January 1868, and the st January
1865, ten per cent, addition to the tax on gu oh
profits income under the act to iay taxes for the
the Confederate States.' approved April 24th 1863
II. 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 on such profits as income, under the act
aforesaid
HI On the amount of profits exceeding twenty
FIVE per cent, made during either OF the years 1868
and 1864, by any bank or banking company insu-
rance, canal nav CATION, importing and exporting
express. railroad manufacturing. div
dock or other joint stock company of any descrip-
ton. whether incorporate or not, twenty five per
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 a family to the yalue
of Eve hundred dollars; and for each minor child Of
the family to the farther value Of hundred dol
lars; and for each son actually engaged in the armv
or navy, who has died or been killed in the mill
tary naval service, and who member of the
family when he entered the service. to the further
value of five hundred dollars.
III. 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 as have been disabled in such SER
vice. to the value of one thous dollars: provided
that the above exemptions shall not apply to any
person. whose property, exclusive of household fur
nture, shall be assessed at value exceeding one
thousand dollars.
w. That where property has been injured or de-
,troyed by the enemy, or the owner thereofha
seen temporarily deprived of the use or occupancy