The Richmond Virginian. (Richmond, Va.) 1910-1920, 1915-11-10

Richmond, oct. Il 1915.
Hon IT, {. Stuart Chairman state Ad-
v.sorY Board Oh Taxation, Rich
moud
Dear s-lr.-l have your letter al
a-toher a. enclosing tWo orders en-
tered nv the local Board Of Review
Of Wise County on the 24th day OF
september aaa 1he ltE day OF October,
1915. res. st cliveiy. raising the aues-
ZION as 10 yhe light of the local Board
al Review to compel the banks IN
MISE County 30 furnish the local
Board OF IScFjew with q list Of an
their time and savings deposits II
appears from the orders entered that
the banks. being required TO appear
before The local Board of Review
ana furHlsh "a complete list of such
deposits did appear and answer that
they were ready and willing TO answer
ans anal ail proper questions concern
ing the ownership OF time and savings
deposits OF any individuals, arms or
e0rpnfatiOus about whom the local
Board Of review. or any member
thereof. desired to ask questions, hut
claimed that the law did not require
rhern tp fuyn!sh a list Of such de-
lsoSitors And the local Board of Re
view. being doubtful as TO their au-
1hority 20 compel the banks to fur
,gish such LISTS, have requested the ad-
xice aud opinion Of the State Advisory
Board ana ~ the attorney general.
Quotes the Law.
AS a preliminary - this question. II
80 necessary TO note that the General
= a ssenli1Iy. by act approved January
pa 1914, Acts of 1914, page s, passed
an act providing for the segregation
OF money upon deposit or otherwise,
and making H. liable to taxation by
the State alOEe at the rate II 20 cents
On the hundred dollars This act re-
auires that money on deposit IN any
bank ar other corporation or firm or
person Or in the possession or under
ms, control OF the owners, whether
such money be actively in or out OF
this State and belonging to a citizen
Of this State is hereby segregated"
etc Thus, I will he seen that il Is
the policy of the law to reach ana
catch all morey belonging 70 citizens
Of this state Schedule G. provides
for The classification OF Intangible
r,ropert Section thereof, a.
amended by acts approved March II.
1915. Classics and defines money as
follows;
IS All money other than money
used Or employed in any trade or
business or otherwise taxed on de-
post with any bank or other corpora
zion OF f1m or persons, or in the
I % sseas!bN or under the control Of the
owners whether such money be ac-
tually In or out OF this state. and be-
longing 10 4 citizen OF this State.
which shall include certificates Of de-
posit of any bank. banking associa-
stion trust or security company. pro-
yided. tsat money as herein defined
shall not be liable 10 taxation by any
Of the counties. cities, towns. school
districts or other local subdivisions of
this State. All money under the con
trcl Of a court receiver or commits
sIoner. In pursuance Of an order,
Judgment or decree Of any court III the
hands or under the control Of an ex-
ecsltor, administrator guardian. frus-
Tee or other fiauciary and all money
deposited TO the credit of any suit
and not in the hands OF any receiver
or other tiduciary.'
Ii Is further provided by section 9,
et~schedale G, rs amended by act ap-
proyed March IL. 1915, that on all
property embraced IN section the tax
shall be an provided by law. and II
IL further provided that 'the provis-
ions OF this section of this schedule
shall apPiy with equal force to any
poeson or corporation representing in