Weekly standard. [volume] (Raleigh, N.C.) 1858-1865, 1863-04-29
RALEIGH, April II, 1868.

hALElGh, April IL, 1000.
Jonathan Worth, Esq.,, Public Treasurer:
DEAR SIR:-I answered the first question pro-
pounded in yours of the LIST instant, before left
Raleigh for the eastern portion of the State from
which place have just returned
In reply to your second question, am of opinion
that the real estate should be listed By tina eorner.y
ton, company or Individual as the case may oe;
.artl II, estimating the value all improvements in
Guiding machinery, fixtures, &C., that have been
erected or used thereon, should be embraced. The
term improvements" in the 9Th section, were it
not for the 9th section, would not be, by me, made
so comprehensive. By this latter section, in esti-
mating the value Of every tract of land, or other
real estate with the improvements thereon, the ma
chinery, fixtures, &c, are to be taken into the
estimate
By paragraph 4. section and section 5, it ap-
pears that where there is Stock it is to be given in
by the individual owner in the district in which
lie resides, and where there is no corporation or
stock.is the Interest" whatever 1t may be
in the "husiness," must be given in by the owner
in addition TO the value Of the real estate as de-
scriDed in sections and 9.
Whatever the intention may have been, the Leg
isla:ure could In my opinion have used no stronger
language to convey the idea that they intended to
tax the same property twice. first as stock or money
invested, and then as real estate.
As to your third question, am of opinion, that
in addition to the tax to be levied upon the real
estate as aScertalneu ny sections ana y, ana upon
the 'stock OF interest" in apy corporation or
business" as ascertained by section l, paragraph
A, and section 5, section 70, paragraph To- I'M
poses an additional tax ION every dollar of net
profit or dividend declared received due, during
the year preceding the 6-st Of April in each year
upon money capital invested in manufacturing
cotton wooden goods, leather, or articles made Of
cotton, iron and tobacco. and also on every dollar
Of net profit or dividend, o. money invested in
steamboat companies"
Therefore, l conclude that the Legislature in
tended to tax, 1st the copus which is the property
material substance of the corporation and exists
whether pro6tably employed or not and this is a
tax upon the corporation; I'd, the shares Of each
owner, if more than one, or money invested, if
there be no shares, which is d tax upon the indi-
vidual members and Sd, the profits or dividends
which is distinct thing from either Of the former,
which may be considered tax upon the corpora
ton; and where there is no corporation the tax is
upon the interest" and the business, terms
used in the bill in connection with shares and cor
poratipns.
l am Of opinion that the term manufacturing in
your .4th question, should be taken in its largest
sense so as 70 embrace mills for the manufacture Of
Hour, iron, paper, &c.
Further, am of opinion that paragraph 10, see
ton TO- of the Revenue act, does not conflict with
the chartered rights Of the Wilmington and VEL
don Railroad, and that the tax thereby imposed
ought to be paid
desire to call The attention of sheriffs to Goth
section of the Revenue act
l am, with great respect
SION &. ROGERS
Atty Gen'l N. G.