The Bolivar bulletin. [volume] (Bolivar, Hardeman County, Tenn.) 1865-1888, 1870-02-26
ANOTHER EsLUNDER.
The Ne, chants Tar Bin.
Crippled Commerce Kicked Again,


The following is the text of the merchants
tax bill, recently passed by the Legislature
Section 1. Be it enacted by the General
Assembly of the State of -Tennesse, That the
taxes on sales and purchases of merchandise
same heretofore levied in this State, be and
are hereby abolished; and sections 432
and 538 of the Code are amended by omit
ting therefrom the word merchandise
Sec. 2. That hereafter merchants shall
pay an Gd vGlOrens tax upon the capital in
vested in their business equal to that levied
on all taxable property; and the term 'smer.
chant, used in this act, indicates oil persons
or copartnerships engaged IN trading or
dealing in any kinds of goods, wares and
merchandise, either on land or at any steam
boat or wharf boat, or plying in the waters
of this State, and whether such goods, wares
or merchandise be kept on hand for sale, or
the same be purchased and delivered for
profit as ordered. But nothing in this act
contained shall in any wise affect the col
lection of privilege taxes upon the avoca-
tions declared by section $50 of the Code
70 be privileges, except the business of sell.
ing merchandise upon commission.
Sec. 3. That no merchant shall commence
or continue business in any county of this
State without obtaining license from the
Clerk of Iuch county in accordance with
the provisions of this act; and every person or
individual member of copartnership 80 of
Tending shall be subject to prosecution for
each day & violation of this law, and on con-
viction shall be fined not less than one
hundred dollars for each offence.
Sec. 4. That every merchant applying for
a license shall, before receiving the same,
execute bond to the State, with good
security, to be approved by the Clerk of the
County Court in the sum of one Thousand
render to the Clerk issuing the license, at
end of twelve months from the date of the
bond, a true statement under oath of the
AMOUNT OF the capital invested in such bust.
ness daring said twelve months, and will pay
to the Clerk the tax thereon; for taking the
bond and issuing the license, the Clerk shall
be entitled to one dollar, to be paid at the
time of issuance
Sec. 5. That in addition to the ad valorem
tax, all merchants, as defined in section 2 of
this act, shall also pay to the County Court
Clerk the following license tax Those re-
porting less than $4,000 of capital shall pay
$40; those reporting greater amount of
capital than $4,000, shall pay on each $4,000
of capital SO reported, or fraction thereof,
s29.
Sec. 6. That any merchant who has been
engaged in business under existing laws
shall make his report to the County Clerk,
and pay the tax that has accrued since his
last report, before receiving license under
the provisions of this act
Sec. I. That each merchant continuing in
be siness shall renew his license annually,
an d no license shall authorize merchandising
on of the counties where issued, nor for
longer period than one year
See. :. That at the expiration of twelve
months from the date of his bond, each mer-
chant shall file with the County Clerk by
who the license was issued statement
under oath, showing: Ali capital invested in
stock of goods, wares and merchandise
not otherwise reported as hereinafter re-
quired, to be estimated at not less than the
cash value of the largest amount of such
goods, wares and merchandise on hand at
any one time during the preceding twelve
months, whether owned by such merchant
or consigned TO him for sale on commission
2. All capital employed during the preced-
ing twelve months, in any manner of trad
ing, whereby any stock of goods, wares and
merchandise is kept for sale, unless such
business is otherwise taxed as privilege;
and the aggregate capital so reported shall
be deemed the taxable capital Of such mer-
chant, upon which he shall pay to the Clerk
the same tax as levied upon real estate and
other taxable property for State and county
purposes, and the report herein required
may be sworn to by either member of any
eopartnership or mercantile firm. That the
word "capital," as used in this act. shall be
so construed to mean the value of the largest
amount of stock on hand at any one time
in the year when it is offered for sale.
Sec g. That the bond hereinbefore re.
quired shall be forfeited by failure to render
the statement under oath, as therein rcquir
ed, or by rendering q false statement, or by
failing to pay the taxes assessed at the time
and in the manner required by law and il
shall be the duty of the County Clerk to re
port all delinquents to the Attorney-Genera
of the circuit, whose. dGty it shall be Il
bring suit in the proper court upon any for
( feited bond to recover the penalty thereof
/ / Sec. 10 That sections 67S, 679, $50, 68l