The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1874-05-14

md IraaeYs.
The bill for the assessment, levy, and collec-
ton Of taxes has passed both Houses of the
General Assembly, and as soon as enrolled will
be placed in the hands Of the Governor for APP
prevail. The takes upon real and personal es-
tate remains unchanged tifty cents on the
800 value,) but the rate upon nearly all other
subjects is largely increased-in most instan-
ces doubled The following sections introduce
very radical changes in our laws:
SPECIFIC TAX ON MERCHANTS.
Every merchant shall pay q specific tax for
the privilege OF selling i'll this State, the a.
mount OF which shall be determined by the agg-
gregate OF the purchases OF the said merchant
during the period FOR which said license is gran
ted If the merchant has been in business as
such, whether under license Or not, III the
county OF corporation where he applies for a
license, for twelve months next preceding the
purchases made by him of goods, wares, mer-
chandise, during the succeeding year shall be
assumed to be at least equal to the purchases
OF the the preceding year; but it may be deter
mined that they will exceed those OF the pre-
ceiing year. Ii the business has only been
carried on for part of the preceding year,
then the amount OF purchases OF the preceding
year may be ascertaned by adopting the pur-
chases for such part of the year as q basis of
ascertaining the same for the entire year. II
tie me chant is u begirnaf, he shall state the
amount OF his probable purchases for and du-
ring the time the license he proposes to obtain
will continue. In all cases the license shall
specify the amount OF goods to be bought un-
der the same. If the amount of the goods au-
tilorized to be bought under such license shall
have been bought the license thereafter shall
be deemed to be void, but ii the merchant de-
sires an enlargement OF the amount OF goods,
at first cost valuation, he shall be authorized to
buy, he may apply for q new assessment and
a new license for the privilege Of buying the
additional quantity of goods to be purchased
For the purpose OF ascertalning whether the a.
mount of goods authorized by such license have
been purchased, it shall be the duty Of every
mere. at, on the first days CT January, A
prl july, and October of each year,
to make report in writing, on oath,
to the commissioner ofrevenue or assessor for
the district in which the merchant was licens-
ed, showing the amount OF goods purchased by
him within the preceding three months. Ii
any merchont shall fail to make such report
the commissioners or assessor shall assume that
all the goods authorized to be purchased under
the license have been bought, and shall pro-
eeed to make a new assessment, after examin-
ing the merchant under oath, and upon such
other evidence as he may be able to obtain i'll
such manner and to the effect he would do if
application had been made to him for an en-
son shall bring goods into this State at a time
when, by an assessment, he cannot procure a
license for the full term Of one year, and he
desires to have su,h goods sold by auction, the
commissioner or assessor may assess the tax at
a rate equal to the tax for one year. The stock
OF goods OIL hand when license is granted at
the first cost valuation shall be embraced and
Included in the amount of the purchases OF
goods to be sold under the license provided for
bv this section. Any person violating the pro-
visions of this section shall pay a fine Of not
less than five hundred nor more than one thous-
and dollars for each offence.
MERCHANTS LICENSE TAX.
lO4 On every license to merchant or mer-
camille firm the tax to be paid shall be gradual
ted as follows: If the amount Of purchases
shall not exceed $1,000, the specific tax shall
be ten dollars; and for all purchases over two
thousand dollars, and less than sixty thousand
dollars, there shall be paid a tax Of one half of
one percentum. Upon all purchases over sixty
thousand dollars and less than eighty thousand
dollars, there shall be paid tax Of forty
/ cents on the one hundred dollars OF said pur-
chases in excess Of sixty thousand dollars
Upon all purchases over eighty thousand dol
lars and less than one hundred thousand dol
lars. there shall be paid a tax of thirty cents
on the one hundred dollars of said purchases
In excess Of eighty thousand dollars. Upon
all purchases over one hundred thousand dol
lars, there shall be paid tax of ten cents on
the one hundred dollars of said purchases, in
excess of one hundred thousand dollars, The
tax imposed under and by virtue of this sec
ton shall be in lieu of all tax for State purpo-
SEES on the capital actually employed by said
merchant or mercantile firm in said business.
The tax in excess of ten dollars imposed by this
section shall be paid in equal installnents, on
the 10th Of january, 10th OF April, 10Th of Jul
lv. and 10th of October in each year, and shall
be collected in tie same manner that license