The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1865-02-07
THE NEW TAX BILL.

NEW IAA SLLi-
An act to IaY additional tares for The common de-
fence and seaport Qtthe G0reTnment
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 24th of April. 1868
there shall be levied, from the passage of this act
the sub jecs 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 the value of
property, employed in agriculture, shall be deduct
ed the value of the tax in id 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.
lIE The value of property taxed under this
ton shall be assessed on the basis of the market
value of the same or similar property in the ne gh
borhood where assessed in the year | 800. except in
cases wher3 land, slaves, cotton tobacco have
been purchased since the LIST day of January, 662
in which case the said land slaves, cotton and to-
bacco purchased, shall be assessed at the price
actually paid for the same by the owner.
Sec 2. On the value Of all shares or interests held
in any bank, banking company association canal,
navigation, importing exporting, insurance. manu-
facturng 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 neigh bohnod where assessed
i'll such currency may be in general there, in
the purchase and sale of such property at the time
of assessment.
Sec 3. |. Upon the amount of ell gold and silver
coin. gold dust, gold or silver bullion, whetht held
by the hanks or other corporations individuals,
five per cent; and upon all moneys held abroad.
upon the amount of all bills of exchange, drawn
therefor on tnTe gn countries tax of five per cent;
such tax upon money abroad to be assessed and col
locted according TO the. value thereof at the place
IT I1,'n a. tI 20 p "'na,,+ f oil sa1,+ oa;.
sc all hoI h;m 1 um on so s'i' sd'tS an"
rrncy. exclusive of non interest bearing Confederate
treasury notes, aud no: employed in a registered
hnsness the Income derived from which is taxed,
five per cent.
Sec l. Upon profits made in trade and brsness
as follows:
I On all profits nnndp BY having and selling srr
itunus Ionors fnur wheat earn rico smear a.,
tassrs or syrun salt tacoD porI boo- h.af or
beef CATTLE sheep oats, hav fodder. raw hiAals
leather horses. mules. boots Shoes, cotton warns
wool woolen, cotton or mixed cloths, hats. WAGONS
harness. coal IRON steal ar nails nt ,,ry Tina h.
tween the lst of January 1868 aud the tSt January
1863 ten per cent IN addition to the fax ON sl,ch
profits as income underline ..act tn Law t,,o< r t
common defence and carry on the Goverp,oo,.+ ,f
the Confederate States" aDproved AnriI OH ISG:>
H. On all profits made bv buvinr and ,elIi,,c
money gold silver foreign EXCHANGE. stock. notes
debts credits or obIirations of any Find .,d 49,.
merchandise, property or effects of any kind not
enumerated in the preceding raCraph between
tbot tn,,