The Athens post. [volume] (Athens, Tenn.) 1848-1917, 1869-03-12
TENNESSEE REVENUE BILL.

be, and the same 10 hereby amended SO
that OH all merchandise purchased for
sale by merchants, a tax OF one and one
half of one per cent. shall be assessed
on its invoice cost at the place where
purchased, unless the tax OH the same
has once been paid to the State, In which
case no additional tax shall be paid. q
i Sec. g. That the tax referred to In
the first section Of this act shall not be
levied upon or collected from any of
tho products, or any article manufactur-
ed within the State from the products
Of the State OF Tennessee in the hands
of the manufacturer or producer. t'i,
% Sec. 3. That 80 much of the said act
Of March IL, 1868, as refers to express
wagons, drays, transfer wagons and
carts, shall not be construed as to iiu-
clude vehicles other than wagons, drays
and carts regularly in the business ,of
expressage and transfer; all hacks, car
riages or vehicles run for pay, y privi-
lege tax of five dollars. ~ 5I.a .af ~,
Sec. 4. That section 8 of the said act
of March 13, 1868, SO taras the said sec-
ton relates to brokers Of real estate, be
amended as follows, to-wit: Brokers
Of real estate, including all contracts
for rents or sale of houses or lands, car
ried OH as u regular business, either for
pay or commission, shall be deemed a
broker Of real estate, and shall pay q
privilege tax of fifty dollars, and one
half Of one per cent. OH the commission
derived from such sales or rents. And
any person or persons contraycning any
Of the provisions of this act shall for
felt and pay to the State not less than
fifty nor more than five hundred dol
lars for each and every offense, at the
discretion Of the court, to be recovered
in the name OF the State by the clerk OF
the county court; provided that own
ers of real estate or houses, when leas-
ing or selling their own houses and
lands, shall not be deemed brokers; nor
shall administrations doing business in
the settlement Of estates, nor guardians
doing business for their wards be in-
cluded in this act. q, t.,. .;5..rt
Sec. 5. That SO much Of section 5,
chapter SO, of the acts of of lS67-S. as
imposes, a privilege tax of twenty five
dollars upon "retail dealers in spirits.
Wines; ale, beer, or other malt liquors"
be SO amended as to impose q privilege
tax of one hundred dollars upon all
other dealers in spirits, wines, ale, beer
or other malt liquors, III addition to the
present taxes OH merchants, aud the
duty Of taking out license.
Sec. 6. That section 5 of the said act
of March 13, 1868, in 30 far as the same
relates to, or affects express companies,
be amended as follows, to-wit: All ex-
press companies shall take out an an
nual license, and pay a tax therefor OF
five hundred dollars. where the distance
over which their lines extend is one
hundred miles or less; and when their
lines extend over q distance of more
than one hundred miles, such tax shall
be one thousand dollars; and any ex,
press company which has taken, or may
take out a license and pay the tax pro-
vided for in this act, shall not be requir-
ed by any county or corporation in this
State to take out any other OF addition.
al tax for the privilege of conducting its
business in such county or corporation
Sec. Z. That section 5 of said act oil
March 13, 1868, in go far as the same re.
lates to or affects telegraph companies
be amended as follows, to-wit: All tel
egraph companies shall take out semi.
annual license on the first days of Jan.
uary and July in each year, and pay a
tax therefor Of two hundred and fifty
dollars; and this tax shall be in lieu oil
all other State, county or municipal
taxes.
Sec. 8. That the Comptroller of the
State is hereby instructed to inform by
circular or otherwise, all County Court
of laws pertaining to the revenue and
finance of the State, as such laws are
amended, made or passed. ars ..'not
| Sec. 8. That no tax shall hereafter be
assessed upon the capital OF any bank
or banking association, or other stock
company, organized under the authority
of the State, or of the United States
but the stockholders in such banks and
banking associations, or other corpora.
tions, shall be assessed and taxed on the
vulue OF their shares of stock thet9in.-
Said shares shall be included in the val.
uatiolf of the personal property OF such
stockholders in the assessment of State,
county or municipal taxes at the place,
town, ward or district where such bank
or banking association, or other corpor.
alton is located, and not elsewhere,
whether the said stockholders reside in
said place, town, ward or district, or
not, But not ut greater rate than as
sessed upon other }moncyed capital in
tho hands of individuals in this State;
and, Provided. further, that nothing
herein contained shall be held OF con-
stfued 10 exempt from taxation the real
estate held or owned by any such bank
or banking association; but the same
shall be subject to State, county, muni-
cipal or other taxation, to the same ex-
\ tent and inte and in the same manner as
1 other real estate is taxed. ,.ir,.e .5ro
Sec. 10. That every, individual bank
ct, doing banking business under the
laws of this State, is hereby required 10
declare. upon oath, before the assessor,
the amount of capital invested in such
banking business, and each one hundred
dollars of such capital for the purpose
Of this act, and Nf the purpose of taxa.
ton, shall be held and regarded as one
individual share in such banking bust,
ness, and such shares are hereby declar.
ed to fbe lyersonai property. IT such
banhevihav6 partners, he shall declare
npoB, oath, before, the assessor, the mum
Der OF shares held; by, each Of them il
such banking business, ascertainod a,
above provided and tho shares so held
\ BY any partner shall DO included In tn,
IvalNatiojs Of his taxable property I'M tn,
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