Chap. 686.—An ACT to amend and re-enact section 8 of an act approved Mare
6, 1890, as amended by an act approved February 14, 1898, as amended bv a
act approved March 6, 1900, of an act entitled an act to provide for the asses
ment of taxes on persons, property, and incomes, and on licenses to trans.x«
business, and imposing taxes thereon for the support of the government an
public free schools, and to pay the interest on the public debt, and prescribis
the mode of obtaining licenses to sell wine, ardent spirits, malt liquors, or an
mixture thereof, in cases where a court certificate is required, in relation -
tax on bonds, notes, and other evidences of debt, and on stocks.

Approved April 2, 1902.

1. Be it enacted by the general assembly of Virginia, That secti‘
eight of an act approved March sixth, eighteen hundred and ninety,
amended by an act approved February fourteenth, eighteen hundre
and ninety-eight, as amended by an act approved March sixth, ninetet!
hundred, of an act entitled an act to provide for the assessment of tax’
on persons, property, and incomes, and on licenses to transact business
and imposing taxes thereon for the support of the government and publi.
free schools, and to pay the interest on the public debt, and prescribin:
the mode of obtaining licenses to sell wine, ardent spirits, malt liquor:
or any mixture thereof, in cases where a court certificate is required, an:
approved March sixth, nineteen hundred, be amended and re-enacted =
as to read as follows:

§ 8. The commissioner shall require each person, natural or artificial.
residing in his district, city, or town to make out and deliver to said com-
missioner a list in detail of the date, amount for which originally given.
but not the name of the debtor, the dates and amounts of the credits
thereon, the balance due, and the time of payment of all bonds, notes.
and other evidences of debt due and payable to such person in excess of
one hundred dollars, and a statement of the aggregate amount of all
bonds, notes, and other evidences of debt under one hundred dollars each.
The auditor of public accounts shall furnish the necessary blanks for
such lists and statements to the commissioner of revenue.

This list and statement shall be signed and sworn to by the tax-payer
before the commissioner of revenue or some notary public, or some per-
son authorized to administer oaths, who shall certify that said list was
signed and sworn to before him. The commissioner shall sign the li-t
and determine the value of the bonds, notes, and other evidences of debt.
therein enumerated, subject to an appeal from his valuation to the county
or corporation court. The said list and statement shall include bonds
of railroad and canal companies, bonds of counties, cities, towns. and
bonds of other States and corporations, bonds of individuals, and all de-
mands and claims, however evidenced, whether due or not, from debtors
residing out of or within the State or county, whether secured by a de!
of trust or by judgments or not, deducting from the aggregate amount
thereof of all such bonds, demands, or claims not otherwise deductinz
owing to others as such principal debtor, and not as guarantor. en-
dorser, or sureties; but not deducting any money that may be due to
others on account of the purchase of sccuriti2s which are non-taxable.
nor shall such deductions of indebtedness be made from stock in anv
bank or banking institution, such stock being taxed otherwise than under
this act; but no bond, demand, or claim constituting a part of the capital
as defined in chapter one of this act of the business done out of this
State, or any capital used by any merchant or manufacturer, and taxed
under chapter one of this act shall be included in this section.

The list and statement herein provided for shall be delivered by said:
commissioner to the clerk of the county or corporation court of his
county or city, who shall file the same in his office properly labelled,
keeping the list for each year separate. If any person, firm, or corpora-
tion shall, with a view to evade the payment cf taxes, fail or refuse to
make out and deliver under oath such list and statement as herein pro-
vided for of any bonds, notes, or other evidences of debt which are sub-
ject to assessment and taxation under chapter one of this act, then the
omitted evidences of debt shall not be recoverable by action at law or suit
in equity in any of the courts of this Commonwealth or by any legal pro-
cess, or by sale under deed of trust, or otherwise, until they shall have
been reported for assessment, and the tax paid thereon for the years
that it should have been paid, with an addition of fifty per centum of the
amount of said unpaid: taxes; and the failure to make out such list and
statement to the said commissioner shall be taken as prima facie evi-
dence of the intention to so evade the payment of taxes.

The auditor of public accounts, when he furnishes the necessary blanks
as above provided, shall include in the form of oath which he shall ap-
pend thereto the statement that no part of the indebtedness claimed by
the tax-payer as a deduction from the amount of all bonds, notes, and
other evidences of debt due to such tax-payer is on account of the pur-
chase of securities which are non-taxable; and further, that no part of
said indebtedness was created with a purpose to evade the payment of
taxes: and any one who shall sign and swear to a false list shall be
deemed guilty of perjury. But where in any such action at law or suit
in equity it is ascertained that there are unpaid taxes and penalties on
the evidence sought to be enforced, and the suitor makes affidavit that
he is unable to pay these taxes and penalty, but is willing for the same
to be paid out of the first recover on the evidence of debt, the court shall
have authority to enter as a part of any judgment or decretal order in
said proceedings that the amount of taxes and penalties due and owing
shall be paid to the proper officer out of the first collection on said judg-
ment or decree.

Second. He shall ascertain from each person in his district, city, or
town the value of capital, including moneys, ercdits, or other thing re-
maining invested, whether said investment was made originally in this
State or any other State or country, and the value of all capital loaned,
used, or employed in business out of this State by himself, his agent,
or other person for him.

Third. He shall ascertain the value of all capital of incorporated
joint-stock companies not otherwise taxed, and when such capital is
taxed by the State of Virginia, the shares of stock in the hands of indi-
vidual sharcholders shall not be further taxed for State purposes; but
real estate belonging to such company shall not be held to be capita!
but shall be listed and taxed as property, and not as capital.

Fourth. He shall ascertain from each person in his district, cits, «
town the amount of capital invested, used, or employed in any trade c
business not otherwise taxed. Moneys and credits actively used and em
ployed in carrying on the trade or business, including goods, wares, an
merchandise on hand, and all solvent bonds, demands, or claims made o
contracted in the course of business during the preceding year, shall b
held to be capital in such trade or business, and shall not be taxed other
wise than as such capital; but real estate shall not be listed as such capi
tal, but shall be assessed and taxed as other specific property ; but nothin.
herein shall be held to exclude from taxation any property which is sub
ject to such business.

Fifth. He shall ascertain from each person residing in his district
city, or town the aggregate money and the value of principal and intere:
of personal estate and credits under his control as court receiver or com
missioner in pursuance of any order, judgment, or decree of any court a
agent, guardian, or other fiduciary. And it shall be the duty of th
clerks of the courts to furnish commissioners with a list of all evidence
of debts under the control of courts, receivers, or commissioners as evi
denced by decrces of the courts.

Sixth. He shall ascertain the amount of any money and the value 2.
any personal estate or credits deposited to the credit of any suit, and no
in the hands of a recciver.

Seventh. He shall ascertain the value of all toll bridges, turnpike:
and ferries in his district other than steam ferries.

Kighth. He shall ascertain from each person residing in his district.
city, or town all money belonging to him on deposit with any bank or
other corporation or firm or person.

Ninth. He shall ascertain from each person, firm, or corporation re-
siding in his district, city, or town all shares of stock of incorporated
companies other than stocks exempted under sub-section third of this
act owned by him and the value thereof.

2. This act shall be in force from its passage.