Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1869-04-02
From the Raleigh Standard.
REVEAUE ACT. 1850 !

the General Assembly:
Section l. The Generd al assembly Of North Caro-
lima do enact, That the taxes hereinafter desig
mated, payable in the existing national currency,
shall be assessed and collected under the rules
AMI regulations prescribed in this act, and in tho
act for collecting revenue, ratified March twelfth,
eighteen hundred and six 'y-siX. or such act as
may be substituted therefor by this General
Assembly; all the provisions of which, except SO
far modified or repeated, shall be held appllca-
BILE to secure tbs assessment collection and return
of the ta1es herein imposed.
Sec. 2. On each taxable poll or male between
the ages OF t9enty-one and fifty, except such
poor snd in6rm persons as the County Commits
sioners msy declare and record fit subject for
exemption, there shall be annually levied and
collected tax of one dollar and five cents, the
proceeds of such tax to be devoted to purposes of
education may be prescribed by law
II any poll tax shall not be paid within sixty
d avs after the same shall be demandabe, it shall
be tho duty of the sheriff. if he find no p openly
Of the person liable sufficient to satisfy the same
to garnishee any person indebted to the person
liable or who may become indebted to him be-
fore the expiration Of the calendar year. And tho
person 80 garnisheed shall be liable for said tax
Sec 3. The taxes her CATER designated shall be
applied to defray the expenses of the State Gov
ernment; to pay the interest the public debt
and to p4y appropriations for schools and chart
table institutions.
CLASS ].
Sec l. Thsre shall be an I'D 0dz0fenl tax of
thirty five cents On every one hundred dollars in
value of real and personal property in this State
subject to exemptions made by law. This tax
shall be levied in addition to such special taxes as
authorized by the General Assembly.
Upon all moneys, credits, investments II bonds
not excepted by law, seven-i Wantleths OF one per
cent
Upon all stocks Joint stock companies, or other
WISE seyen-twenteths OF one per cent OF their
ali value; Provoked, That all the taxes for State
and County purposes, imp osed upon real and
personal property, exclusive of the special taxes
authorized by the General Assembly, shall, in no
case, exceed two thirds Of one per cent
CLASS 2.
The subjects and persons mentioned in the fol-
10 "iog class shall be taxed as specially men
toned:
Sec. /. On the net incomes and profits, other
than that derived from property taxed, from any
source whatever, during the year preceding the
first day of April in each year. there shall be d
tax of two and one half per cent. The income tax
shall include interests on the securities Of the
United States of this State, or other State or
government. In estimating the net income, the
only deduction by way of expenses shall be:
L Taxes other than the income tax due this
State.
2. Rent for use of buildings or other property
or interest on incumbrances on property used Ia
the businesss from which the income IS derived.
3. Usual or ordinary repairs Of the building
from which the income is derived.
4. Cost or value of the labor Except that of tue
ta payer himselflraw material food. and all other
necessary expenses incidental to the busin SO
from which the income is derived, together with
the necessary expenses OF supporting the family
dollars.
The tax payer shall return to the assessor the
81 oss amount OF his income and the gross amount
of his expenses to be deducted therefrom, which
return the shall file in the Office OF the
clerk of the county commissioners.
Sec. q Upon all real and personal estate,
whether legal equitable, situate within the
State, which shall descend, or be devised or be-
queathed to any collateral relation or person,
other than ineai desce adant or anc 9stor OF the
husband or wife of the deceased. or husband or
wife of su ia ancestor or descendant, or to which
such collateral relation may become entitled, I'M
der the law, for the distribution of the inteetate
estates and which real and personal estate may
not be required in payment of debts and other
liabilities, the foil owing per centum tax upon the
value thereof shall be paid:
/. If such collateral relation be brother OF
sister OF the father mother of the deceased, or
issue of ouch brother or sister, a tax Of one per
cent.
2. If such collateral relation be a moro remote
relation, or the doVt5oe or tegatee Gs d stranger
a tax OF two per cent.
The real estate liable to xation shall be list
cd by the devisee or heir in separate column,
designating its proper per cent tax.
The personal estate, or real estate reduced to
assets shall be liable to the tax in the hands OF
the executor or adm illustrator, and shall be paid
by hun before his administration account is audi
ted, the real estate is settled to the sheriff of
the county. Ii the real estate descended or devi-
sed shall not be the entire Inheritance, the heir or
devlsee shall pay pro rata part OF the taz, cor
responding with the relative value of the estate
interest.
If the legacy dlstributive share to be receiv-
ed, shall not be the entire property, such egatee
or distributee shall in like manner pay pro rata
part of the tax according to the value of his in.
terest. s
Whenever the personal property in the hands
of such administrator or executor (the same not
being needed to be converted into money, in the
course of the administration shall be of uncsr-
tain value, he shall apply to the county commits
sioners to appoint three impartial men of probity
to assess the value thereof; and such assessment
being returned to the commission and being
confirmed, shall be conclusive OF the value
To facilitate the collection of the tax collat
| erals, every executor or administrator shaIl re-
| turn in his inventory whether the estate of the
deceased goes to the lineal or collateral relations,
or to stranger, and il to collatersls, the degree
OF relationship of such colaterals to the deceased
under penalty of one hundred dollars, to be re-
covered in the name and for the use OF the State;
Clerk of the county to furnish the sheriff with
the names of the executors and administrators,
| who make such returns after each and every
! term of his court
| Is