Semi-weekly standard. [volume] (Raleigh, N.C.) 1853-18??, 1863-04-28
TREASURY DEPARTMENT,
Raleigh, April l, 1868. !

TREASURY DEPARTMENT,
Raleigh, April l, 1868.
Hon. Sion H. Rogers Attorney Gen. Of ". C. =
DEAR SR:-The following questions have been
proPounded to me- arising under the Revenue act
of the last General Assembly. | shall be obliged
to you for your opinion on them, with view to
publishing 1t, in order that there may be unformi
ty in the action of the officers entrusted with the
execution of the act
l. Is the word cash" in the first and eighth Sec
tions Of the bill, to be interpreted meaning spe
Gle, Bank notes, or Confederate or State Treasury
notes?
2. By the 1st section, paragraph lst of the act,
real estate Is taxed two ifths OF one per cent on
its value By the 4th paragraph of the same Sec
tion, money invested in manufacturing companies
or corporations is taxed at the rate according
to the shares fixed by the charter, if the shares
be in corporation; and if not in corporation,
then upon the amount invested. Also money in
vested in every species of trade and traffic not 9TH
erwSe taxed herein" By the 9TH section of the act
the stock or interest held by individuals in all
corporations or business shall be listed among the
individual property of the holders in the counties
in which they reside" The bulk of the property
of many manufacturing companies consists of real
estatc-the necessary structures and machinery for
carrying the business. Is the real estate to be
listed by the corporation and the shares of stock by
the holders whereby the same property would be
twice taxed?
D. by the 0th section OF the act, the stock or IN
terest held by individuals in all corporations or
business shall be listed among the individual prop
erty of the holders in the counties where they
spectvely reside" and by clause 10 section 20 a
tax Of two per cent is imposed on every dollar of
nett profit dividend declared, received due
the Year preceding the lst day Of April in each year.
(and not previously listed upon money or capital
invested in manufacturing cotton or wooden goods,
leather articles made of leather, iron aud tOhac
co., ana also on every dollar Of nett profit div
dend on money invested in steamboat companies
(whcther incorporated or not and in railroads.
Are the shares of stock in manufacturing and steam
boat companies to be taxed and also the dividends
well as the land and slaves constituting part
of the stock Of said companies?
/. The 4Ih clause under the lst section taxes
money invested in manufacturing and steamboat
companies two ilths Of one per cent. Is the term
manufacturing" 10 be taken in Its largest sense,
so as to include mills for the manufacture OF iron,
-four, paper, powder &c. {? If not what manufac.
turing establishments are embraced and excluded
g. The latter part of section 10, page BIZ, ? vol
ume Of Revised Statutes, exempts the shares of
stock in the Wilmington and Raleigh (now VIII
mington and Wcldon) Railroad from any public
charge or tax Clause Is section 20 Of the Revenue
act imposes tax of cents on every dollar Of dIvi-
dend on money invested in Railroads. Does this
provision of the Revenue act come in conflict with
the chartered rights Of this Railroad Company?
Yours, very respectfully,
JONATHAN WORTH,
Public Treasurer.