The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1865-01-10
THE NEW TAX BILL.

an Act to lay additional tareS for the common de-
fence and support cfhe GoreT"menh
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 common de-
fence and to carry the Government of the Con-
federate States.' approved Oath of April 1868.
there shall be levied, from the passage of this act,
the subjects of taxation hereafter mentioned and
collected from every person. CO. partnership, aSso-
citation corporation liable thereto, taxes fol-
lows, to wit:
l. Upon the value of property, real personal and
mixed of every kind and description. not hereinaf
ter exempted taxed a 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 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.
III. 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
wher5 land, slaves cotton 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 same by the owner.
See ,. On the value of all shares or interests held
in any bank. banking company or association, canal,
navigation, importing. exporting, Insurance, manu-
facturng telegraph express, railroad and dry dock
companies ana all Olnel JtHNI 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 neighborhood 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. l. Upon the amount of all gold and silver
coin, gold dust, gold or silver bullion, whether held
by the banks other corporations individuals,
five per cent; and upon all moneys held abroad, or
upon the amount of all bills of exchange. drawn
therefor on 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 interest bearing Confederate
treasury notes, and not employed IN a registered
business the income derived from which is taxed,
five per cent.
Sec 4. Upon profits made in trade and business,
as follows:
l. On all profits made by buying and selling spir-
tuous liquors. flour, wheat corn, rice, sugar, mo-
asses or syrup, salt, bacon. pork. hogs, beef or
beef cattle, sheep. oats, hay. fodder hides,
leather horses, mules. boots Shoes, cotton yarns,
wool, woelen cotton or mixed cloths. hats wagons.
harness, coal, iron. steel or nails, at any time be-
tween the lst of January, 1868 and the Ist January
1865, ten per cent, addition to the on such
profits income '"aer the "aet to lay taxes for the
common defencsEand carrs oil the Government of
the Confederates States approved April oath, 1868
IL. On all profits made by-b9siIg 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 such profits 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, in.u-
rance, canal, navigation. importing and exporting,
telegraph, express railroad, manufacturing, dry
dock. ar 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 family to the value
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 or been killed in the mill
tary naval service, and who member of the
family hen be 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
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 - the value of one thousand dollars provided
that the above exemptions shall not apply to any
person, whose property. exclusive of household fur
niturc, shall be assessed at 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 occupancy