The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1863-05-05
RALEIGH, April II, 1868

Jonathan Worth, Esq Public Treasurer:
DEAR SIR:-I answered the first question pro-
pounded in yours of the lst instant before left
Raeigh for the eastern portion of the State, from
which place [ have just returned.
In reply to your second question, [ am of opin-
ion that the real estate should be listed by the
corporation, or company or individual as the case
may be- and in estimating the value, all improve
ments, including machinery, fixtures, &c, that
have been erected or used thereon, should be en-
braced. The term improvements" in the 9th
section, were it not for the 9th section would not
be, by me, made SO comprehensive. BY this lat
ter section, in estimating the value of every tract
Of land, other real estate with the improvements
thereon, the machinery, 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 10 which
he resides, and where there is no corporation or
stock issued, the ''interest,' whatever it may be
in the cuisines, must be given in by the owner
in addition to the value of the real estate as de-
scribed in sections s aud @.
Whatever the intention may have been, the
Legislature could in my opinion have used no
stronger language to convey the idea that they in
tended 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
III auuitioh W 1ne GhA W DC leVleQ upon the real
estate ascertained by sections and 8, and upon
the "stock or interest in any ''eorporation or
business as ascertained by section l, paragraph
T. and section 5, section TO- paragraph Is, imposes
an additional tax son every dollar of net profit, or
dividend, declared, received, or due, during the
year preceding the first of April in each year up
on money or capital Invested in manufacturing
cotton WOODEN goods, leather, or articles made
of cotton iron and tobacco, and also on every dol
lar of net profit or dividend or money invested in
steamboat companies"
Therefore, | conclude that the Legislature in
tended to tax, LIST, the corpus, which is the prop
erty or material substance of the corporation and
exists whether proftably employed not, and
this is tax upon the corporation; I'd, the shares
OF each owner, if more than one, money inv est
ed, If there be shares, which is Ia x upon the
individual members; and Sd, the profits or divi-
dends which is distinct thing from either of the
former, which may be considered tax upon the
corporations; and where there is corporation the
tax is upon the ''interest' and the Cuisines, -
terms used in the bill in connection with shares
and corporations.
am Of opinion that the term manufacturing, in
your 4th question, should be taken in its largest
sense SO as to embrace mills for the manufacture
of flour, iron, paper, &c.
Further, am of opinion that paragraph Is,
section 70, of the Revenue act, does not conflict
with the chartered rights of the Wilmington and
Weldon Railroad, and that the tax thereby impos
ed ought to be paid.
fdesre to call the attention OF steriffs to 39th
| section of the Revenue act.
- : / am, with great respect,
- SION III. ROGERS,
Atty GeniN C.