Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1915-11-10
RESIDENTS AND NoSnESIDl:N'rS
A!kI: SI-nJI.I.I 10 TIII.. ~

|, Is further provided b. section q
OF Schedule g. as amended ~ act ap-
proved March Il, 1915, that on ,ll prom
erty embraced in section the tax shall
bc as provided by law. and IT Is further
provided that the provisions OF This
section OF this schedule shall apply
with e4ua! force 10 any person or cor
potai!on representing in this State
business Interests that may claim :.
domicilc elsewhere. the intent ana pur-
pose being that no nonresident. person
or corporation, either personally or
through any agent. shall transact bust
ness here without paving 10 the State
a corresponding tax thnn that cxncted
OF It's own citizens. and all bills reCa!v-
abb. obligations or credits and other
Intangible assets arising from business
done In this state arc hereby declared
asscsSabie within this state ana 81 Tic
business dom!cile Of said nonresident.
person or corporation. his or her accn;
or representatives" Thus il is seen
that money arising from business done
In THIS state by nonrcsidentS or by the
representatives OF nonresident persons
or corporations is subject TO taxaiion
In this state, and. we have seen
abov" money OF citizens is subject to
taxation
POWERS AND DUTIES
or LOCAL REVIEW RCi.Ds
Coming now specifically 10 the cues
ton presented. this question deocnas
tits solution on a proper construction
OF the provisions of chapter liG. Acts
1878. page !5i creating State Adj
visory Board on Taxation and local
boards OF review and defining their
duties and powers
Under section of said section ne
find the definition of the duties and
powers of local boards of review. Tines 6,
duties and powers. so far as necessary
for the correction decision OF this cues
ton, are as follows:
l. To direct the commissioner OF the
revenue To enter In the assessment
rolls any property, real or personal,
which is found to have been omitted.
2. To hear the complaints OF taxpay-
crs, members of board OF supervisors.
city ana town councils. or the Com
monwca!th's attorney. as to unequal OF
unjust valuations.
3. To review the annual returns of in
tangible personal property, income ana
money, OF all taXpaycrs. and II this
end they are required to call in the
examiners OF records. and ii is made
the duty Of the examiners OF records to
examine the returns aforesaid, and the
records both state and Federal, with
n view OF asccrtaining and reporting
for taxation the valuations TO tie OK
tended by the commissioners of the
revenue on all intangible personal
taxation under the laws OF this State.
MAY SUMMON PERSONS
AND EXAMINE THEM
A. "The local board of review shall
have. authority to summon taxpayers.
or their agents, or any other person
having information on the subject, be-
fore them and require them to answer
under oath all questions touching .
IA ns tlA1
incomes or money held by such person,
firm or corporation, and the valuation
of said property ;; ana should the
pcrson, firm or corporation, agents or
Witnesses refuse to furnish the informa-
ton requested. such person. firm. cor
poratIon, agents or witnesses shall be
liable to a iine Of not less than $40 nor
more than 500.
From the papers submitted it is diff
ficult to ascertain the exact point ut
issue, but, rs understand ii. the banks
contend that this last quoted provision,
while requiring them To answer qucs-
lions touching the ownership of time
and savings deposits, of particular per
sons. firms or corporations. concernimg
which the banks may be specially
asked. yet the law does not require
/ them to respond to general demand
for the names OF all time and savings
dcpositors. In other words, the banks
seem to admit that the board could
take UP name by name each listed tax
payer or any of the citizens Of the
county named by the Doard ana require
, the banks to answer what time and
savings deposits stand in said name,
but they contend on the other hand
that tho board cannot require the banks
to furnish any information concerning
Il depositor unless such dcpositor he
first specifically named by the hoard
The result of this position would be
that the board would be able from in
formation obtained from tho banks to
test tho returns OF taxpayers already
listed, and could ascertain the deposit
tors of others whose names they might
BIO able by some other means to obtain.