THE TAX ACT OF APRIL 24, 1863.
[From the Richmond Whig, April 21.]
We present below a synopsis of the bill to lay taxes for the common defence and to carry on the government of the Confederate States, which has passed both branches of Congress. It is substantially the bill proposed by the committee on conference:
1. The first section imposes a tax of eight per cent. upon the value of all naval stores, salt, wines and spirituous liquors, tobacco, manufactured or unmanufactured, cotton, wool, flour, sugar, molasses, syrup, rice, and other agricultural products, held or owned on the 1st day of July next, and not necessary for family consumption for the unexpired portion of the year 1863, and of the growth or production of any year preceding the year 1863; and a tax of one per cent. upon all moneys, bank notes or other currency on hand or on deposit on the 1st day of July next, and on the value of all credits on which the interest has not been paid, and not employed in a business, the income derived from which is taxed under the provisions of this act: Provided, That all moneys owned, held or deposited beyond the limits of the Confederate States shall be valued at the current rate of exchange in Confederate treasury notes. The tax to be assessed on the first day of July and collected on the first day of October next, or as soon thereafter as may be practicable.
2. Every person engaged, or intending to engage, in any business named in the fifth section, shall, within sixty days after the passage of the act, or at the time of beginning business, and on the first of January in each year thereafter, register with the district collector a true account of the name and residence of each person, firm, or corporation engaged or interested in the business, with a statement of the time for which, and the place and manner in which the same is to be conducted, &c. At the time of the registry there shall be paid the specific tax for the year ending on the next 31st of December, and such other tax as may be due upon sales or receipts in such business.
3. Any person failing to make such registry and pay such tax, shall, in addition to all other taxes upon his business imposed by the act, pay double the amount of the specific tax on such business, and a like sum for every thirty days of such failure.
4. Requires a separate registry and tax for each business mentioned in the fifth section, and for each place of conducting the same; but no tax for mere storage of goods at a place other than the registered place of business. A new registry required upon every change in the place of conducting a registered business, upon the death of any person conducting the same, or upon the transfer of the business to another, but no additional tax.
5. Imposing the following taxes for the year ending 31st of December, 1863, and for each year thereafter:
Bankers shall pay $500.
Auctioneers, retail dealers, tobacconists, pedlers, cattle brokers, apothecaries, photographers, and confectioners, $50, and two and a half per centum on the gross amount of sales made.