The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1865-01-31
THE NEW TAX BILL.

An Act to lay additional tares for The common de-
fence and support ofthe Gorernment
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 Gath of April, 1863
there shall De levied, from the passage of this act
the bjects of taxation hereafter mentioned. and
collected from every person. co-partnerslp assoc
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 hereinaf
ter exempted taxed different rate. five per
cent Provided, that from this tax on the value of
property employed in agriculture. shall be deduct
ed the value of the in kind delivered therefrom,
as assessed under the law imposing it. and delivered
to the Government: Provided, that no 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.
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 whers land, slaves, cotton or tobacco have
been purchased since the 1st 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 by the
Sec ,. 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 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 at the time
of assessment.
Sec 3. I. Upon the amount of all gold and silver
coin, gold dust gold silver bullion, whether held
by the banks or other corporations or individuals.
Ill I
upon the amount of all bills of exchange, drawn
therefor on fo1& countries tax of five per cent;
such tax upon money abroad to be assessed and col
lectcd 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 bearing Confederate
treasury notes, and no. employed in registered
business the income derived from which is taxed,
five per cent.
Sec4. Upon profits made in trade and business,
as follows:
l. On all profits made by buying and selling spir-
iuous liquors. -four, wheat, corn, rice, sugar mo-
lasses syrup salt, bacon, pork. hogs, beef or
beef cattle, sheep. oats, hay. fodder, hides,
leather horses, mules. boots, Shoes, cotton yarns
wool, wooden, cotton or mixed cloths, hats. wagons,
harness. coal, iron. steel or nails at any time be-
tween the 1st of January 1868 aad the st January
1865, ten per cent, addition to the tax on uch
profits as income under the act to lay taxes for the
common defence, and carry on the Government of
the Confederate States approved Aprff2lth, 1868
H. 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 or effects of any kind, not
enumerated in tho 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 twenty
five per cent, made during either of the years 1868
and 1864 by any bank or banking company, insu
rance, canal, navi CATION. importing and exporting
telegraph, express. railroad, manufacturing, drv
dock. other joint stock company of any dcscriD-
ton, whether incorporate or not twenty-five nor
cent such excess.
Sec 5. The following exemptions from taxation
under this act shall be allowed. to wit:
I. Property Teach head of family to the value
of FIVE hundred dollars and for Oh minor child of
the family to the further value Of one hundred dol
lars; and for each son actually engaged in the army
or navy. who has died or been Killed in the milf;
tary naval service. and who was a 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 one thousand dollars; provided
that the above exemptions shall not apply to apv
person, whose property. exclusive of household fur
niturc. shall be assessed a value exceeding one
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 occupancv