by the.. then the said obligation was to be void; and the said.. having failed to deliver the goods and chattels according to the condition of the bond, or to pay the money mentioned in the execution, notice is hereby given to you and each of you that on the first day of the next term of the said court I shall move the said court to give judgment and to award execution upon the said bond in my behalf against you, and each of you, for principal, interest, and costs. Given under my hand this... day.. 19......... Sec. 6531. Where complainant under the circumstances set out in the second head note agreed that defendant should have one-third of the profits of the resale of land purchased at a judicial sale, although there arose from the transaction a fiduciary relationship and not a mere contract of employment between complainant and defendant, complainant was not such a fiduciary as is contemplated by this section which provides that the homestead exemption shall not extend to any execution or process on a demand "for liabilities incurred by any public officer, or officer of a court, or any fiduciary, or any attorneyat-law for money received." A recital in the decree, therefore, against complainant, "homestead exemption waived by reason of the fact that this is a fiduciary debt due" from complainant to defendant is improper, and the decree should be corrected in this respect; but the error is probably harmless, since the record not only indicates that complainant is abundantly solvent, but also that the recovery complained of is now secured by an ample supersedeas bond, so that there is no reasonable probability that his homestead will ever be attacked to satisfy the decree. Alexander v. Critcher, 121 Va. 723, 94 S. E. 335. The revisor's note to this section states that is is "amended" by chapter 314 (page 487) of Acts, 1918. It would seem, however, that both must stand so far as they are not in conflict. (See section 6568.) Sec. 6532. EDITOR'S FORM OF HOMESTEAD DEED FOR REAL ESTATE Know all men by these presents, that I,.. a householder and head of family, and a resident of the State of Virginia, do hereby declare my intention to claim, and do hereby claim, select, and set apart, as and for my homestead exemption under the Constitution of Virginia, and the laws in pursuance thereof, the following real estate, to-wit: All that certain tract (or lot) of land lying and being in the city (or county) of.. State of Virginia, and described as follows: (Here described with "reasonable certainty." My cash valuation of said real estate is.. Given under my hand and seal this. dollars. day of.. 19.. [Seal] Here should follow acknowledgment in conformity with section 5205, et seq. For form of homestead deed for personalty, see notes to section 6540, herein. Sec. 6540. EDITOR'S FORM OF HOMESTEAD DEED FOR PERSONALTY Know all men by these presents, that I, a householder and in the head of a family, and a resident of the county (or city) of... State of Virginia, do hereby declare my intention to claim, and do hereby claim, select, and set apart, as and for my homestead exemption under the Constitution of Virginia, and the laws in pursuance thereof, the personal property hereinafter named, each parcel or article being followed by my cash valuation thereof, to-wit: One mahogany upright piano now in my residence, in the county of Wise, dollars (and so forth, describing each article with "reasonable certainty"). Of the aggregate value of dollars. Given under my hand and seal this. Here should follow acknowledgment in conformity with section 5205. Real estate and personalty may, of course, be claimed in the same deed; but it should be noted that in order to hold real estate exempt, deed must be recorded in county or corporation wherein such real estate, or any part thereof is, while in case of personalty deed must be recorded where householder resides. See chapter 314 of Acts 1918, herein. Sec. 6543. A creditor obtained judgment and levied execution against his debtor. Suit was brought by other creditors against the execution creditor alleging superior liens, and the execution creditor also brought a chancery suit against the debtor, claiming a lien in his favor on certain property of the debtor. The two suits were heard together. The court decreed that certain funds should be paid to the execution creditor. The same decree directed the payment of all the costs of the suit, and disposed of the entire funds of the debtor in the hands of receivers appointed by the court. After the adjournment of the term of court at which this decree was rendered, the debtor filed a homestead deed, claiming the amount decreed to be paid to the execution creditor as part of his homestead exemption, and filed a petition in the chancery causes, praying that it be paid over to him as a part of his homestead. This section permits a householder to set apart his homestead "at any time before the same is subjected by sale or otherwise under judgment, decree, order, execution or other legal process.' Held: That the fund in question had been "subjected" within the true intent and meaning of the statute before the execution of the homestead deed, and the debtor having failed to claim his homestead privilege before the decree, he was concluded by it, not only because the fund had been subjected thereby, but because it was a final decree settling every controversy which had arisen in the cause. Smith v. Holland, 124 Va. 663, 98 S. E. 676. *AMENDMENTS AND NOTES TO TAX BILL 1922 Sec. 1. If the construction of a revenue statute is doubtful, the instructions issued by the Auditor of Public Accounts to the commissioners of the revenue who are to put the statute into operation are entitled to great weight. Commonwealth v. Armour & Co., 118 Va. 242, 87 S. E. 610. Sec. 8. Personal property choses in action, etc. The classification under schedule "C" shall be as follows: First: Bonds (except bonds of the United States), notes and other evidences of debt, including bonds of other States than Virginia, bonds of counties, cities and towns located outside of the State of Virginia, bonds of railroad and canal companies and other corporations, bonds of individuals and all demands and claims, however evidenced, whether secured by mortgage, deed of trust, judgment or otherwise, or not so secured. The commissioner shall require each person, natural or artificial, residing in his district, city or town, to make out and deliver to said commissioner 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 owing 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 the revenue. The list and statement shall be signed and sworn to by the tax-payer before the commissioner of revenue or some notary public, or some person authorized to administer oaths, who shall certify that said list was signed and sworn to before him. The commissioner shall sign the list and determine the value of the bonds, notes and other evidences of debt therein enumerated, subject to an appeal from his valuation to the circuit or corporation court. The said list and statement shall include bonds of railroad and canal companies, bonds of counties, cities, towns, located outside of the State of Virginia, and bonds of other States and corporations, bonds of individuals, and all demands and claims, however evidenced, whether due or not, from debtors residing out of or within the State, city or county, whether secured by a deed of trust or by judgments or not. There shall be no deductions from the amount thereof on account of any bonds, demands or claims owing to others as principal debtor, or otherwise. No bond, demand or claim constituting a part of the capital, as defined in this act, of the *The revenue act continued in force by section 2398 of the Code, and commonly known as the tax bill is printed in full in the Code of 1919, including acts of the session of 1918. The 1918 amendments to this act being in the Code are not included, herein. business done out of this State, or any capital used by any merchant or manufacturer, and taxed under this act, shall be included in this subdivision of this section. The list and statement herein provided for shall be delivered by said commissioner to the clerk of the circuit or corporation court of his county or city, who shall file the same in his office, properly labeled, keeping the list for each year separate. If any person, firm or corporation shall, with a view to evade the payment of taxes, fail or refuse to make out and deliver under oath such list and statement as herein provided for of any such bonds, notes or other evidences of debt, 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 process, or by sale under deed of trust, or otherwise, until they shall have been reported for assessment, and the taxes paid thereon for the years that they should have been paid, with an addition of one hundred per centum of the amount of said unpaid taxes; and the failure to make out such list and statement to said commissioner shall be taken as prima facie evidence of the intention to so evade payment of taxes. But where in any action at law or suit in equity it is ascertained that there are unpaid taxes and penalties on the evidences of debt 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 recovery 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 judgment or decree. In every action at law or suit in equity in a court of record for the collection of any such bonds, notes or other evidences of debt, taxable hereunder, the plaintiff shall be required to allege in his pleadings that such bonds, notes or other evidences of debt have been reported for taxation and assessed for each and every year on the first day of February of which he was the owner of the same, and no judgment or decree of the court shall be valid unless it recites that such allegation was made. Second: All capital of persons, firms and corporations employed in a trade or business not otherwise taxed; and in case of a corporation when all of such capital is taxed by this State, the shares of its stock in the hands of individual shareholders shall not be further taxed for State purposes. But real estate belonging to such persons, firms and corporations shall not be held to be capital, but shall be listed and taxed as real estate. Capital as used in the tax laws shall be defined as follows; (1) The inventory of stock on hand, which shall include all raw materials for use of the business, whether at the place of business, in storage or elsewhere in the State. (2) The excess of bills and accounts receivable over bills and accounts payable. (3) All machinery and tools not taxed as real estate. (4) Money on hand and on deposit. (5) All other property of any kind whatsoever, including all choses in action, equities, demands and claims. Capital used or employed in business as above defined shall, whereever the laws of this State require a tax on capital, be taxed at the rate prescribed by law. Every person, firm or corporation engaged in a business whose capital is subject by the laws of this State to taxation, is hereby required to keep accounts showing the above items, which shall at all times be open to the inspection of the commissioners of the revenue, the examiners of records, local boards of review, and the State tax board; and every such person, firm or corporation shall be required to make a return under oath to the commissioner of revenue, on forms prescribed by the auditor of public accounts, showing the items of capital as above defined, and also the bills and accounts payable which were used as deductions in order to ascertain the amount under section two in the above definition of capital and the names and addresses of the parties to whom said bills and accounts are due, and the various amounts constituting said indebtedness, shall further certify that such indebtedness was made in the usual course of business of said company, firm or corporation. Nothing herein shall prevent cities and towns of this Commonwealth from imposing a license tax on merchants, mercantile firms or corporations, based on their purchases, in pursuance of their respective charters, or of the general laws of the State for the government of cities and towns. Where any person, firm or corporation domiciled and doing business in this State maintains a branch of such business outside of this State, no part of the capital of such person, firm or corporation permanently invested in any such branch of its business, nor any intangible assets, arising from business originating at any such branch and transacted outside of this State, shall be considered as situated in this State for the purpose of taxation or be assessed with taxes in this State-any statutory provisions or rule of construction to the contrary, notwithstanding-it being the intent and purpose of this provision to exact of citizens of this State no higher or greater tax than that exacted of non-residents doing business in this State. The situs for the taxation of stock on hand, raw materials for use in business, whether at the place of business, in storage or elsewhere, and machinery and tools not taxed as real estate, as provided in this schedule, shall be the county or incorporated community in which they are physically located. Which items of capital shall be taxed by such localities as other capital is taxed by localities, at the rate prescribed by law, and not as tangible personal property, and it shall be |