Carroll free press. [volume] (Carrollton [Ohio]) 1834-1861, 1845-05-09
ON THE TAX LAW.


explain someof the features of the new
law, about which there has heena diversi-
ty of opinion. MIR. Disney was one of the
Locofocos who votedfor the law and hesays
nothing in this letter, calculated to justify
the inference that he'regrets the vote, or
joins in the cry that has been raised for po-
ltical effect. ItwiIl be seen that in one or
two particulars Mr.. D. differs from the Audi
tor in his explanations, particularly IN rea-
tion to notes ana accounts, and thPu-P raw
. materials in manufacturing. %. S: Jour.
THE T4X'LAW.
Ems. ENorrRER-- Gents; have been ap-
piled toso frequently for opinions in relation
10 the several provisions Of the new Tax
Law, that it has occurred to me that gene
raj and public exposition Of its details might
be useful.
The first section Of the law requires the
assessor toprocure from every person, com
panv or firm suhiec. to taxation, state
ment of the amount of money which they
have at interest, and from every person,
company or firm engaged in mercantile bu-
siness or trade (these TWO latter words be-
ing synonimous) similar statement OF the
amount Of the capital employed in such
mercantile trade.
Section Q merely directs who shall make
these statements, and how they shall be
verified, &c, with provision that no such
abatement shall be made in any ease'wEere
the amount embraced shall not exceed one
hundred dollars.
Section 3 declares that all claims for mon
ey, without regard to their form, on which
interest, premium, or any consideration
whatever for the use thereof has been re-
served, taken, contracted for oraereedup-
on, and all claims or obligations to pay mon
ey bought at any rate of discount, shall be
considered money at interest
Section provides that every person en-
gagged in the businessof buying and selling
personal property Of any description, o'her
Than domestic animals, or purchasing per-
sonaI property for purposes of maTutactu-
ring, shall be considered as engaged in mer-
raniile trade. But all personal property
which has been listed for taxation under
any other law Of the State, shall not he con-
ridered as forming any part OF the capital
in trade of the person owning the same.
Section points ou! the method by which
10 ascertain the amount of capital employ
ed, whether at interestas before defined,
or in mercantile trdde--in the ore case 1t
shall be considered as equal 10 the medium
between the greatest and smallest amount
.Foemployed during thc preceding year, and
IN theothpr the medium between the grea-
test and smallest amountof goods on hand,
.orif employed for period less than one
wear. then the medium amount in the time
during which it has been employed; with
rproyiso that if any parto ithas been with
drawn or is intended to be Withdrawn, or
invested in other property subject to taxa
ton by any law Of this State, such amount
shall be deducted, and further proviso
specially makes the act"apply to every un-
,incorporated bank or banker, broker OF bro
fkers."
Section 6 and 7 enumerates the eXCep-
,tions, and define what shall be exempted
from taxation under the provisions Of this
act, viz. lsI Moneys due on sales, or Ieas-
es of real estate situate in this State. "a.
All MONEYS due for personal property soIc
in the ordinary course Of business, and
.uayabIe within sir months from the date OF
sale, provided in both cases, that leases and
such sales are n no wise connected with
the loan or advance Of money, nor IN tile
latter case made for the purposeot tvading
the payment Of any tax. Sd. In all state
ments Of money et interest the party shall
he entitled to deduct from the gross amount;
,lst. The amount Of debts bearing interest
end owing by such parties, excepting ob-
CATIONS given for insurance. Cd. Moneys
owing to anv person or persons out OF thus
State for the purchase OF land within thus
State which is listed for taxation. 3D.. Mo
news due from persons believed to be insol-
vent and not believed to be collertahe.
Section points out the duty Of the as.
SCISSOR; if parties SHALL refuse or neglect TO
make the statement required by this act
section Q directs the county auditor to
deduct fifty per centum from the return of
capital in trade and money at interest but
when the parties shall have refused or neg
lect.d to make their own statement, then
y o deduction shall be made from the asses
Ror's return.
Section 10 deftIrs the law taxing pleas-
s1re carriages and declares It to embrace
"G arliages, harouChes, buggles, dearborne,
and all other carriages Or wagons OF the
value of forty dollars and upwards, lnten-
,ded Tor the transportation OF persons, or as
family or pleasure carriages or buggles
section n regulates the time when the
otssessors shall discharge their duties
Section'Iq requires the assessor to de-
rInand 6r every stage owner, or in case ot
'company,of soine member OF such stage
'com pany, wherever any of them may re-
side, or where they shall keep or have its
principal Office, OF place of keeping its ac-
'counls, statement Of the value of all the
stage coaches and other vehicles owned by
tthefn within this State, and OF all horses
and harness owned 10y them, &c, and Tor
inegpct OF refusal to make ont such state
suipft, it lnnictsa fine OF one hundred dol
liars, and directs the assessor as in other ca
escs provided for in this law, TO mok ks out
nstatement from theshest evidence he can
Obtain, ,andUpon which atax otthree-lonrths
a.. lo,,iod And all other