Fayetteville observer. [volume] (Fayetteville, Tenn.) 1850-1966, 1874-01-29

mount oil thcCne from such OF
these as are thus exempt must
he returned under the 18th sub
section of the 9TH section. This
income is to be computed for
the twelve months previous to
the 10th day Of january last.
ID. Mules are taxable and
should be SO returned. The fail
uc to return them will subject
the owner TO an Indictment for
feGuly III swearing to a false
return. (See Oath, Sec. 81.
Such failure to return will also
authorize the Assessor, under
Section 81, to investigate and
make such an assessment as the
facts warrant, and will further
subject such citizen to the adj
ditional tax imposed in Section
- On those who couniyc at or
purposcly c%ade an assessment,
or knowingly permit al made
quatc assessment to lie made
The Supreme Court recognizes
TO such legal distinction be-
tween mares, gcldings and mules
as vii! cEcmft lie last named
from taxation.
Il In returning the articles
mentioned in the 7ih and 9Th
sub-scctiOns Of section 7,iti is OH
~ necessary to give the aggre-
gate value Of the Whole Of the
articles mentioned in those sub
sections respectively.
Is. Sections 8 and 10 of the
law where they speak Of banks
or banking associations apply to
bank corporations. Section 9
is applicable to indiridu0I bank,
crs. Stockholders in a bank or
other joint stock company,must
report the number and value of
their shares of stock to the as
SCISSOR of the district or ward III
which said bank or joint stock
company is located, and not
elsewhere. Under the 10th sec
ton of the law every bank or
banking association is required
, to keep in its business Office a
full and correct list of the
names and residences of all the
stockholders therein and the
number of shares of each, and
it is the duty Of the assessor of
the district or ward where the
bank is located to thoroughly
examine such list, for the pur-
pose Of ascertaining the num-
Der Of shares Of nonresident
stockholders and to correct any
mistakes that may be made by
resident stockholders. These
shares Of stock are reported I'M
der tie 9Th subsection Of the
9TH section Of the act.
is. Merchants pay their priv
ilcge tax to Tie Clerk Of The
+ County CCuIt. They also re-
turn and pay their I'D raioren
tax on merchandise to the Coun-
t. Court Clerk. They also re.
turn to the County Court Clerl
the amount and value Of notes
due bills, e,c., mentioned il
subsection I of section Z, aftel
!. deductions hereinafter to be
specified, which they own a:
merchants, and pay the tax OF
these also to the County Cour
Clerk. 1t will be seen, there
fore, that merchants make al
their returns and pay all thei
taxes rs merchants to the Coun
ty Court Clerk. AS individuals
they return to the Assessor anC
pay to the Collector.
Il. IN assessing, under sec
ton %, notes, due bills, etc.
therein mentioned, all bona tid,
debts Of the tax payer incurred
i in conducting his regular bust
: ness and pertaining to the sam,
. business out Of which arose tn,
, notes, due bills, ETC., are to b,
deducted from the valuation OF
: said notes, due bills, etc.
Is The schedule of a tax
payer is not complete withOu
the oath. The law prescribe
= it, and | know of no cOnstruc
= ton which can abrogate it O
3 by which it can be evaded.-
5 Those who fail or refuse to tax
= the oath, subject themselves t.
= assessment by the assessor am
= the penalties prescribed by sec
Y ton "a. By section 572 of tn
: Code, thetax-Payer was requires
G to"give in to the assessor a com
e plctc list of his property sub
c iect to taxation of every DIES
: cription, describing his land s
!. as to identify it," and by sec
T. ton 57S the taxpayer, if h
V fails to give a list, was to be as
= scsscd a double tax upon the as
= scssment Of his property mad
by the Assessor. By sectiO