House tax bill.
The following is a copy of the Tax bill passed by the House of Representatives on Thursday last:
The Congress of the Confederate States of America do enact,
That the first, second, and third sections of the act to levy additional taxes for the common defence and support of the Government
, approved 17th February, 1864, be amended and re-enacted so as to read as follows:
- Section I: That in addition to the taxes levied by the act to lay taxes for the common defence and to carry on the Government of the Confederate States, approved April 24th, 1863, there shall be levied from the 17th day of February, 1864, on the subjects of taxation hereinafter mentioned, and collected from every person, co partnership, association, or corporation liable therefore, taxes as follows, to wit:
First--Upon the value of all property, real, personal, and mixed, of every kind and description, not hereinafter exempted or taxed at a different rate, five per cent: Provided, That from the tax in the value of property employed in agriculture shall be deducted the value of the tax in kind derived therefrom during the same year, as assessed under the law impressing it and delivered to the Government, whether deliverable during the year or afterwards, including the bacon delivered after and not prior to the assessment of the tax on property employed in agriculture as aforesaid; and the collection of the tax on such property shall be suspended after assessment under the order of the Secretary of the Treasury until the value of the tithes to be deducted can be ascertained, and when an ascertained it shall be the duty of the Post Quartermaster to certify, and of the district collector to deduct, the amount of such tithes.
And any balance found one may be paid in and certificates authorized by the act to reduce the currency, and to authorize a new issue of notes and bonds in like manner, as taxes payable during the year.
Second--On the value of gold and silver ware and plate, jewels, jewelry and watches, ten percent. On the value of all shares or interests held in any bank, banking company or association, canal, navigation, importing and exporting insurance, manufacturing, telegraph, express, railroad, dry dock companies, and all other joint stock companies of every kind, whether incorporated or not, five per cent, which for shall be assessed against and paid by the company in each case.
And when the shares or interest in any such company are taxed, no other tax shall be imported under this act upon any property of such company represented by the valuation of such or interest as directed in the second section of this act, except the tax imposed by the first paragraph of the third section of this act.
- Section II: The value of property, shares and interests taxed under the preceding section shall be assessed on the basis of the market value of the same as similar property in the neighborhood, will assessed in the year 1860, except that where lands, slaves, shares or interests have been purchased since the 1st day of January, 1862 other than land purchased by refugees and held and occupied by them for their own use and residence, they shall be assessed at the price actually paid for them by the owner, or, if for any cause that cannot be ascertained then at the market value at the time of such purchase.
Shares or interests created since the year 1860 shall be assessed at their actual cost to the present holder; Provided that no shares or interests which are now worth par or over par shall be assessed at less than par.
- Section III: Upon the amount of all gold and silver coin gold dust, gold and silver button, unless purchased since the first day of January, 1862, and then upon the actual cost to the present holder, ten per cent, except where the same is already included in the tax on shares or interests imposed by the first section of this act, and in such cases ten per cent less the amount of tax so imposed; and upon the value of all moneys held abroad, or bills of exchange drawn therefore, and promissory notes, rights and credits payable in foreign countries, five per cent, according to the value thereof, at the place where the tax thereon is payable at the time of assessment, except where the same is included in the tax on shares or interests imposed by the first section of this act, and then five per cent less the amount of tax so imposed, payable in Confederate Treasury notes or four per cent bonds, or certificates authorized by the act of February 17, 1864, to reduce the currency and authorize new issue of notes and bonds.
Second--Upon the amount of all solvent credits, and of all bank bills and all other paper issued as currency, exclusive of interest bearing Confederate notes and Confederate bonds, and not employed in a regathered business, the income derived from which is taxed five per cent upon the par value thereof; Provided that the income derived from Confederate bonds and interest bearing Confederate Treasury notes shall be taxed as other incomes.
- Section IV: That paragraph 4th of section five of the same act be amended by adding thereto as follows:
"In case of disagreement between the owner and the officer as to the reduction of taxes under this section, the question shall be settled by retirees, as is provided in the cases of disagreement under the 8th section of the act to amend an act entitled an act to levy taxes for the common defence, and carry on the Government of the Confederate States, approved February 17, 1864."
- Section V: That paragraph sixth, section four, of the act to amend an act entitled an act to lay taxes for the commmon defence and carry on the Government of the Confederate States, approved February 17, 1864, be, and the same is hereby, amended so as to include as wholesale dealers manufacturers, and coal and other miners, and salt manufacturers, who make it a business to sell their own products to other dealers to sell again; and that section 16th of the same act be, and the same is hereby, amended so as to read as follows:
First--The income property and money, other than Confederate Treasury notes, of hospitals, asylums, churches, schools, colleges, and other charitable institutions, shall be exempt from taxation under the provisions of this or any other law. The property of companies provided under the act entitled "an act to establish a volunteer navy," shall be exempt from taxation, except on the income.
Second--That paragraph sixth, section seven, of the same act he, and the same is hereby, amended, by adding there to as follows:
"If any person shall fail to make due return as required by said section, of the income or profits taxed under any law of Congress, or in case of disagreement with the assessor, to submit the same to referees, as provided by law, or shall fail or refuse to pay the tax thereon, within such time as shall be prescribed by public notice by the district collector, under the direction of the commissioner of taxes, such person shall be deemed and held to be in default."
- Section VI: That this act shall not be so constituted as to subject to taxation corn, bacon, and agricultural products, which were produced in the year 1863, and in the possession of the producer on the 17th day of February, 1864, and necessary for the support of himself and family during the present year, and from or on which taxes in kind had been deducted and delivered or paid.
- Section VII: That section fourth, paragraphs one and two, of the act approved February 17, 1864, entitled "an act to lay additional taxes for the communed fence and support of the Government," be so amended as to levy an additional tax of fifty per cent upon the amount of all profits made by selling the articles, mentioned in the said paragraphs, between the 17th day of February, 1864, and the 1st day of July next, which additional tax shall be collected under said act.