Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1867-03-01
1REPoRTEp FOR THE JOURNAL
AN ACT TO RAISE REVENUE

eunced bg the authority Of the same, nat lot IL
,rdPSeriatious made by law the taxes hereinafter
designated, payable in the existing NaIloIai cur
rency, shall be annually assessed ana c9neeteo un
der the rules and regulations prescribed IN this
Ar aud in the Act for collecting Revenue, rat
fed March 18th, 1866, all the provisions of which
except far as modlneo OF repealeu, 9n nnnao
held applicable to secure the assessment, coHec'
ton and return of the taxes, herein imposed.
RULES OF TAXATION.
RIFLE 1. Taxes hereinafter imposed Oh pur-
cbases, sales, receipts earnings, income OF
nrotits shall be- unless otherwise directed, the
total amount thereof during the year preceding
the 1st day of April of each year; PrOUided, that
purchases, sales or receipts, earnings or profits
on which taxes were paid for the three months,
preceding the LIST day of July. 1866 under the
revenue Act, ratified March 18th, 1866, shall be
exempt.
liable such tax, when in the hands of traders
and others who list the purchases or sales OF SAID
articles
RULE 3. Property and purchases, sales or re
Cepts, taxed at h; CHER rate, shall not be liable
to pay any other tax, at lower rate, but the I'M
position Of tax for license 10 carry on any trade
or business shall not relieve the property or stock
in trade from the property tax, unless there is
likewise a tax on the receipts, purchases, earnings
or sales of such business trade.
RULE +. Where the purchases, receipts, earn
ings sales OF any Corporation or JOINT stock
Com any are taxed the shares of stock therein
owned by individuals shall not be liable to dd ca
loreTl tax.
RULE 5 Corporations and joint stock compa-
MES, except hereinafter is excepted, shall be
liable to taxation in the same manner individu-
ais and shall list their property and other taxa
bles, through their chief officer or agent, and no
person shall be required to include, part of his
pers nnal property and Investments, any share or
portion Of the capital stock or property Of any
Company or Corporation, which Is required to list
its capital and properly Tor taxation III TINS state
RULE g. Railroad, Turnpike, Plankr0ad, Canal
and Navigation Companies shall not be required
to list their property or capital, but the shares
thereof shall be listed by the stockholders thereof
as part of their investments.
RULE 7. The powers and duties in this Act or
in any other Act relating to the collection and
required Of Sheriffs, shall likewise be entrusted to
and required of - Tax Collectors" when such Off
GERS arc in any county appointed
RULE 3. Wherever the Sheriff Is authorized to
collect taxes unlisted subjects, he is authO lied
and required to administer oath, to ascertain
the true amount of taxes due.
SCHEDULE A.
The property and other subjects, designated in
the several sections of this schedule, shall lie
nualy listed at the time designated i'll the said
Act for collecting revenue to the IIst-taker IN the
several districts of the counties, and whore taxed
dd raiore, shall be listed at the value thereof, i'll
national currency, on the 1st of April preceding
Until otherwise directed by the General Assembly,
real property shall be rated at the valuation of
1861 modified III certain cases. by the assess
lnent of 1866 under the provisions of sections %
and 20 of the Act for Collecting Revenue, and by
such further notifications may be hereafter
made, under the provisions of said sections. There
shall be new valuation OF real estate during the
year 1868, prescribed in said Act for Collecting
Revenue. The tax herein imposed shall not be on
said valuation, but the same shall be reported by
the Clerks Of the several County Courts on or be-
fore the LIST day of August OF said year. to the Pub
Ic treasurer, 10y him 10 be land before the next
General Assembly. Tne personal property shall
be valued oath by the taxpayer, at the usual
selling price OF similar property at the time of list
ing, and at The place where the same may then be
and # there be no usual selling price, known to
the person whose duty 1t shall be to fix value
thereon, then at such price it is believed could
he nDt INF md
place. 1t shall be the duty of the lst-taker to
anime carefully each return presented to him. and
IT, IN his judgment, he shall find the property en-
braced in the same below the value thereof it
shall be his duty assess the true value thereon.
Ii the person making such returns shall be dis
satisfied with the valuation of the ISt-taker, be
may select some dsinterested person, and the ist-
taker shall choose second, and these two third
a majority of whom shall determine The amount of
.ssment on the property embraced in the said
return.
l. POLL TAX.
On each taxable poll or male between the ages
of u and 45, except those MANNED or permanently
disabled, and also except such poor and intirm
persons the County Court may declare and re-
cord fit subjects Of exemption, the tax shall be f-
y cents 1t shall be the duty of all persons and
corporations to list and pay the tax of such per-
sons liable to the same, as are in their employ
neut, the LIST day of April of each year, la
Durers, and the amount or said tax may be retain
cd ont of any moneys dIe such EMPLOYEES. Such
employees shall be listed in the County where they
are employed. And upon failure to do, any |
MI
iu8 himself or selves from one county into anoth-
er on, before, just after the 1st GGy of April of
each year, shall take with him them certiti- |
cate from the taXst taher of his their district
some other responsible man, who may have lis |
ted him or them, showing him or them to be duly |
listed for said tax. Upon failure to do shall |
be subject to dOnbe tax, retained from his their
wages by the first person employing him them, |
whose duty it shall be to pay the same to the
She if and take his receipt therefor, otherwise BE-
subject to said do bile tax every instance ascer
taincd and colectible by distraint.
CLASS 1.
The following subjects in Glass LIST, shall pay a |
tax of Oneenth of one per cent, the cash value
thereof, to be estimated hereinbefore prescrib
ell:
SECTION 1. Real property, with the improve
ments thereon, including entries or land.
SEC. 2. All wagons and other farming utensils |
neat cattle, hOrs s, mules, asses, jennets hogs
and sheep, made and raised for SALE
SEC. 3. Household furniture exceeding $500 in
value. This paragraph includes, besides other
furniture clocks, pictures, other than family por-
traits and books, over the value of $500.
SEC. 4. Agricultural products, except family
supplies for one year, in the hands of the produ-
after the expiration of twelve months from the
time the same were produced
SEC. 5. Agricultural products, in possession of
purcha er, who does not pay tax on such prOducts1
as merchant or trader. Family supplies for one
wear shall be exempt.
SEC. 6. Solvent credits, deducting therefrom
the liabilities of the tax payer principal and as
surety, here the principal Is lnsOvent, the term
credits to include all claims demands owing
to the tax payer whether due or not, whetf er
payable III ley other things, and whether
owing by persons within without the State
Mtrchants aud other traders shall not be bound
to list the credits accruing in the regular course
OF IhrIr business, during the twelve months pre-
cedlng the LIST day of April of the year of listing
No deduction shall be made on account of anv OBJ
legation given to an insurance Company, except
Il the amount of an assessment already made |
nor on account of any unpaid subscription to any
restitution, society, corporation company.
SEC. 7. Investments in public bonds and stocks
and the bonds and stocks, or shares, of such cor
Porations and joint stock companies, as do not list
Their property for taxation prescribed in Rule
> This section shall include securities of any
state or government, or municipal corporation,
not exempt by the laws of this State or the United
States; also shares of Stock in Railroad, Turn
pike, Plank Road, Canal and Navigation Comma
MES, whetherin or out of the State, as prescribed
in Rule 6.
SEC. 8. Moneys above 800 in value, the term
money" to include coin, bullion, bank notes
and the notes of any State or Government, de-
signed 20 circulate money, also deposits in this
State or elsewhere with individuals or corpora
tons, payable on demand. Coin and bullion as
we'll notes, shall be listed at their value in such
currency as is commonly paid for taxes.