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COMPILATION OF STATUTES

RELATING TO THE

TAXATION OF CORPORATIONS

BY THE

State or New York,

FOR STATE PURPOSES,

By JOHN J. MERRILL,

CORPORATION TAX CLERK, IN THE OFFICE OF THE COMPTROLLER OF THB
STATE OF NEW YORK,

ALBANY:
JAMES B. LYON, PUBLISHER,
1894,
LAS ] bs

Entered, accoMting to act of Congress, in the year 1894, by

JAMES B LYon,

In the office of the Librarian of Congress at Washington,
PREFATORY.,

The object of this publication is to provide for the use
of corporate bodies liable to pay taxes directly to the
State treasury a complete, compact and convenient com-
pilation of the statutes of this State, relating to such
taxation, as they stand to-day upon the statute books.
The system of taxation of corporations for State purposes
is (for this State at least) of so recent origin, and has been
so manifestly thus far in a state of development — fre-
quent amendments and enlargements of the statute
showing how experience has suggested improvement —
that even the persons most interested may well be par-
doned for want of a thorough knowledge of all the details
of the scheme. It is very probable that a considerable
portion of the difficulty and friction which has attended
the collection of these taxes has been due to ignorance or
misunderstanding of the law on the part of those by
whom the taxes should be paid. In any case, it must be
for the advantage of those liable to such taxation to have
at hand a simple statement, without extraneous matter,
of the law regulating their duties, rights and liabilities.
The enormous capital invested in our corporati ns makes
the subject of its taxation, down to the least details, of
great practical importance; and it is believed that a
greater familiarity with the statutes on the part of officers
of corporations will redound to the advantage not only
of the State but of the tax-paying bodies ; and that, both

\
4 PREFATORY.

by removing from the minds of agents of the latter mis-
takes and misconceptions as to the practical details of
fixing and collecting the tax, and by enabling all persons
interested to see clearly the points in this system of taxa-
tion at which improvement is yet needed.

It is intended in this compilation to give every statute
of this State relating directly to the payment of taxes by
corporate bodies to the State— and to give nothing else.
In consequence, there will not be found in it any of the
numerous provisions for the taxation of corporations for
“local purposes’? — that is, taxes imposed by counties,
towns, villages or cities. Otherwise stated, the object is
to set forth the system of corporate taxation for State
purposes, inaugurated by the act of 1880, and to show
the modifications and extensions which that system has
received during fourteen years of legislative action,
whether by express amendment of the original act, or
otherwise. By the plan laid down by the act of 1880,
and the amendments thereto, the Comptroller’s office is
made to carry the whole weight of this extensive scheme
of taxation. The Comptroller must ascertain the bodies
liable to taxation, supervise the adjustment of the amount
of the tax in each case, detect the errors or fallacies in
blundering or dishonest returns, examine the corporations
whose returns are defective, or which make no returns at
all, settle and state tax accounts which corporations will
not state for themselves, resettle and restate on receipt.
of new evidence, attend to the review on certiorari or
appeal of his settlement or resettlement, enforce by his
warrants the collection—as by an execution— of the
tax when he can finally learn what it is. The whole sys-
tem revolves about the office of the Comptroller as a
PREFATORY. 5

center. The Attorney-General may bring actions, in
some cases, at the Comptroller’s suggestion ; but they are
and must be.actions on cases already made up and proved
in the Comptroller’s office — actions similar in difficulty
to those which an attorney brings on a bank’s retainer
to collect a protested note. The action of the State
Treasurer, under this system, is purely passive, and prop-
‘erly so. He receives and holds fast the gains which the
vigilance of the Comptroller secures for the State.
NEW YORK
CORPORATION TAX LAWS.

Norz.—Chapter 642 of the Laws of 1880 is here given in its present form, as
amended by chapter 361, Laws of 1881; chapter 151, Laws of 1882; chapters 359
and 501, Laws of 1885; chapters 193, 853and 463, Laws of 1889; chapter 522, Laws
of 1890, and chapter 592, Laws of 1894.

The original scope of the act of 1£80 is indicated by the first nine sections of
the present statute. By the act of 1881 each of those nine rections was amended,
and section 10 was given its present form. Sections 11-13 were added by the act
of 1882, and those sections were severally amended by chapter 501, Laws of 1885,
which also added sections 14-18 of the statute as here given. Sections 18 and 19
were added by chapter 463, Laws of 1889.

Section 3 was further amended by chapter 359, Laws of 1885; chapters 193 and
852, Laws of 1869, and again by chapter 522, Laws of 1890, giving it its present
form.

Section 11 was amended by chapter 562, Laws of 1894.

The statute has been further modified, without express amendment, by chap-
ter 679 of 1886, which was amended by chapter 218, Laws of 1891, by prescribing
@ special rule of taxation for Fire and Marine Insurance Companies, and
supersedes section 5 of this act, so far as such companies are concerned.

Chapter 66, Laws of 1886, provides additional means of enforcing the act of
1880, and may be regarded as supplementary thereto.

Trust Companies were expressly made subject to the provisions of this act by
chapter 409, Laws of 1882.

A special rule of taxation was made for Hotel Corporations by chapter 592,
Laws of 1886.

AN ACT to provide for raising taxes for the use of the
state upon certain corporations, joint-stock companies
and associations.

Companies to report dividends or value of stock to
comptroller before November fifteenth, annually —
comptroller, when to make valuation of stock —
appeal from valuation.

Sxction 1. Hereafter it shall be the duty of the presi-
dent or treasurer of every association, corporation, or
joint-stock company liable to be taxed on its corporate
franchise or business, as provided in section three of this act,
to make report in writing to the comptroller, annually, on
or before the fifteenth day of November, stating specifically
8 New Yorx Corporation Tax Laws.

the amount of capital paid in, the date, amount and rate
per centum of each and every dividend declared by their
respective corporations, joint-stock companies or associa-
tions, during the year ending with the first day of said
month. In all cases where any such corporation, joint-
stock company or association shall fail to make or declare
any dividend upon either its common or preferred stock
during the year ending as aforesaid, or in case the divi-
dend or dividends made or declared upon either its
common or preferred stock during the year ending as
aforesaid, shall amount to less than six per centum upon
the par value of the said common or preferred stock, the
treasurer and secretary thereof, after being duly sworn or
affirmed to do and perform the same with fidelity, accord-
ing to the best of their knowledge and belief, shall, between
the first and fifteenth days of November, in each year, in
which no dividend has been made or declared as afore-
said, or in which the dividend or dividends made or
declared upon either its common or preferred stock
amounted to less than six per centum upon the par value
of said common or preferred stock, estimate and appraise
the capital stock of such company upon which no dividend
has been made or declared, or upon the par value of which
the dividend or dividends made or declared amounted to
less than six per centum, at its actual value in cash, not
less, however, than the average price which said stock
sold for during said year; and when the same shall have
been so truly estimated and appraised, they shall forth-
with forward to the comptroller a certificate thereof,
accompanied by a copy of their said oath or affirmation,
by them signed, and attested by the magistraie or other
person qualified to administer the same; provided, that if
the comptroller is not satisfied with the valuation so made
and returned, he is hereby authorized and empowered to
make a valuation thereof and to settle an account upon
the valuation so made by him for the taxes, penalties and
interest due the state thereon; and any assoeiation, cor-
poration, or joint-stock company dissatisfied with the
New Yorx Corporation Tax Laws. 9

account so settled may within ten days appeal therefrom
to a board consisting of the secretary of state, attorney-
general and state treasurer, which board, on such appeal,
shall affirm or correct the account so settled by the comp-
troller, and the decision of said board shall be final; but
such appeal shall not stay proceedings. unless the full
amount of the taxes, penalties and interest as due on said
account, as settled by the comptroller, be deposited with
the state treasurer.

Penalties where companies neglect to report.

§ 2. If the said officers of any such corporation, joint-
stock company or association shall neglect or refuse to
furnish the comptroller, on or before the fifteenth day of
November of each and every year, with the report afore-
said, or the certificate of appraisement, and oath or |
affirmation, as the case may be, as required by the first
section of this act, or to pay the tax imposed on such
corporation, company or association within fifteen days
after the first of January, as provided in the fourth sec-
tion of this act, it shall be the duty of the comptroller of
the state to add ten per centum to the tax of said corpora-
tion, company or association, for each and every year for
which such report or certificate of appraisement and oath
or affirmation were notso furnished, or for which such tax
shall not have been paid, which percentage shall be assessed
and collected with the said tax in the usual manner of
assessing and collecting such taxes ; provided, that if said
officers of any such corporation, joint-stock company or
association shall intentionally fail to comply with the pro-
‘ visions of the first or fourth section of this act for one
year, the comptroller shall report the fact to the governor,
who, if he shall be made satisfied that such failure was
intentional, shall thereupon direct the attorney-general to
take proceedings, in the name of the people of this state,
to declare the charter or privileges of said corporation,
joint-stock company or association forfeited, and at an
end; and for such intentional failure duly found, the

2 1
10 New York Corporation Tax Laws.

charter and privileges of every such corporation, company
or association shall cease, end, and be determined.

What corporations subject to, or exempt from, taxa-
tion — amount of tax, how computed.

§ 3, Every corporation, joint-stock company, or associa-
tion whatever, now or hereafter incorporated, organized,
or formed under, by, or pursuant to law in this state
or in any other state or country, and doing business in
this state, except only savings banks and institutions for sav-
ings, life insurance companies, banks, foreign insurancecom-
panies, manufacturing or mining corporations, or companies
wholly engaged in carrying on manufacturing, or mining
ores within this state, and agricultural and horticultural
societies, associations or corporations, which exceptions,
however, shall not include gas companies, trust companies,
electric or steam heating, lighting and power companies,
shall be liable to and shall pay a tax, as a tax upon its
franchise or business, into the state treasury annually, to
be computed as follows: If the dividend or dividends,
made or declared by such corporation, joint-stock com-
pany or association, during any year ending with the first
day of November, amount to six or more than six per
centum upon the par value of its capital stock, then the
tax to be at the rate of one-quarter mill upon the capital
stock for each one per centum of dividends so made or
declared ; orif no dividend be made or declared, or if the
dividend or dividends made or declared do not amount
to six per centum upon the par value of said capital stock,
then the tax tobe at the rate of one and one-half mills
upon each dollar of the valuation of the said capital stock,
made in accordance with the provisions of the first section
of this act; and in case any such corporation, joint-stock
company or association shall have more than one kind of
capital stock, as, for instance, common and preferred stock,
and upon one of said stocks a dividend or dividends
amounting to six or more than six per centum upon the
par value thereof, has been made or declared, and upon
New Yorx Corroration Tax Laws. 11

the other no dividend has been made or declared, or the
dividend or dividends made or declared thereon amount
to less than six per centum upon the par value thereof,

then the tax shall be at the rate of one-quarter mill for
each one per centum of dividends made or declared upon
the capital stock upon the par value of which the dividend
or dividends made or declared amount to six or more
than six per centum, and in addition thereto tax shall be
charged at the rate of one and one-half mills upon each
dollar of a valuation, made also in accordance with the
provisions of this act, of the capital stock upon which no
dividend was made or declared, or upon the par value of
which the dividend or dividends made or declared did not
amount to six per centum.

Tax to be paid by January fifteenth, annually.

§ 4. It shall be the duty of the treasurer or other officer
having charge of any corporation, joint-stock company or
association, upon which a tax is imposed by either of the
preceding sections of this act, to transmit the amount of
said tax to the treasury of the state within fifteen days
after the first day of January in each and every year.

Insurance companies to report to comptroller, annually, .
gross amount of premiums received, and to pay tax
thereon — penalty for failure to report or pay.

§ 5. Hereafter it shall be the duty of the president,
secretary, or other proper officer of every insurance com-
pany and every association organized or incorporated by
or under any law of this state, and of every person or
partnership doing an insurance business in this state
(except life insurance companies, and purely mutual bene-
ficial associations, whose fund for the benefit of members,
their families, or heirs, is made up entirely of contribu-
tions of their members, and the accumulated interest
thereon ), to make report in writing to the comptroller
annually upon the first day of August in each year, after
the first day of August, eighteen hundred and eighty one,
12 New Yorx CorroraTion Tax Laws.

setting forth the entire amount of premiums received on
business done in this state by such company or associa-
tion, person or partnership during the year ending with
the preceding thirtieth day of June, whether the said pre-
miums were in money or in the form of notes, credits, or
any other substitute for money, and every such company,
association, person or partnership shall pay into the state
treasury, at the date aforesaid, a tax, as a tax on its cor-
porate franchise or business, at the rate of eight-tenths of
one per centum upon the gross amount of said premiums.
And every company or association organized under the
laws of any other state or country, and every person or
partnership doing an insurance business in this state,
except as aforesaid, shall pay into the treasury on the first
day of August in each year a tax at the rate of eight-
tenths of one per centum on their gross premiums received
by them on business transacted in this state during the
year eading with the preceding thirtieth day of June,
whether the said premiums were in money or in the form
of notes, credits or any other substitute for money. -And
every such company, association, person, partnership, or
the agents and officers thereof in this state, shall make
report in writing to the comptroller annually upon the first
- day of August in each year, setting forth the entire amount
of premiums received during the period aforesaid. Pro-
vided, that the report above required shall be made under
oath or affirmation, and that it shall be the duty of the
comptroller of the state to add ten per centum to
the account of any company, association, person, or part-
nership, which shall neglect or refuse for a period of thirty
days to make the said report, or to pay into the state
treasury the tax imposed by this section. And it shall
also be the duty of the president, secretary, or other
proper officer of each and every insurance company, asso-
ciation, partnership, and of every person liable to be taxed
under this section, to make a report in writing to the
comptroller on the first day of Auyust, eighteen hundred
and eighty-one, under oath or affirmation, of the entire
New Yorr Corporation Tax Laws. 13

amount of premiums received on business done in this
state during the six months ending with the preceding
thirtieth day of June, and to pay a tax at the rate of eight-
tenths of one per centum thereon. And it shall be the
duty of the comptroller of the state to add ten per centum
to the account of any company, association, person or
partnership which shall neglect or refuse for a period of
thirty days to make the said report, or to pay into the
state treasury the tax imposed.

Railroad, steamboat, express and other transportation
companies, and telegraph and telephone companies,
tax on gross earnings of.

§ 6. In addition to the taxes above provided for, every
corporation formed for railroad, canal, steamboat, ferry,
express, navigation or transportation purposes, and every
elevated railway company, and every other corporation,
joint-stock company or association now or hereafter incor-
porated or organized by or under any law of this state, or
now or hereafter incorporated or organized by or under
the laws of any other state or country, and doing business
in this state, and owning, operating or leasing to or from
another corporation, joint-stock company or association,
any railroad, canal, steamboat, ferry, express, navigation,
pipe-line or transportation route or line, or elevated rail-
way, or other device for the transportation of freight or
passengers, or in any way engaged in the business of
transporting freights or passengers, and in every telegraph
company or telephone company incorporated under the
laws of this or any other state, and doing business in this
state, and every express company or association, palace-
car or sleeping-car company or association incorporated
or unincorporated, doing business in this state, shall pay
to the state treasurer, for the use of the state, as a tax
upon its corporate franchise or business in this state, a tax
at the rate of five-tenths of one per centum upon the gross
earnings in this state of said corporation or company or
association, for tolls, transportation, telegraph, telephone
or express business transacted in this state.
14 New Yorx Corpvoration Tax Laws.

Companies named in section six to report to comptroller
amount of gross earnings annually, and to pay tax
therecn — penalty for failure to report or pay.

§ 7. The tax imposed under section six of this act shall,
after the first day of August, eighteen hundred and eighty-
one, be paid annually on the first day of August of each
year. It shall be the duty of the president, secretary or
other proper officer of the corporations, joint-stock com-
panies or associations referred to in section six of this act
to transmit to the comptroller, on the first day of August
in each year, a statement under oath or affirmation of the
amount of the gross earnings of the said associations, cor-
porations or joint-stock companies derived from all
sources during the year ending with the preceding thirtieth
day of June, together with the amount of tax imposed
thereon by section six. And it shall also be the duty of
the president, secretary or other proper officer of the cor-
porations, joint-stock companies or associations referred
to in section six of this act, to transmit to the comptroller
on the first day of August, eighteen hundred and eighty-
one, a statement under oath or affirmation of the amount
of the gross earnings of the said associations, corpora-
tions or joint-stock companies derived from all sources
during the six months ending with the thirtieth day of
June, eighteen hundred and eighty-one, together with the
tax imposed thereon by section six of this act. And if
any such corporation, joint-stock company or association
shall neglect or refuse, for a period of thirty days after
any tax imposed by sections six or seven of this act
becomes due, to make returns or to pay the same, the
amount thereof, with the addition of ten per centum
thereto, shall be collected for the use of the state as other
taxes are recoverable by law from such corporation, joint-
stock company or association.

Corporations taxed under this act, how otherwise taxable.

§ 8. The corporations, joint-stock companies and asso-
ciations mentioned in this act as taxable shall hereafter be
New Yorx Corporation Tax Laws. 15

exempt from assessment and taxation for state purposes,
except upon their real estate, and as herein provided; but
they shall in all other respects be liable to assessment and
taxation as heretofore.

Taxes applied to state expenses — actions by attorney-
general for unpaid taxes.

§ 9. The taxes imposed by this act, and the revenue
derived therefrom shall be applicable to the payment of
the ordinary and current expenses of the state, and if any
corporation, joint-stock company, person, partnership or
association shall neglect or refuse to pay any tax by this
act required to be paid, the same may be sued for in the
name of the people of the state,'and recovered in any
court of competent jurisdiction, in an action to be brought
by the attorney-general at the instance of the comptroller.

Saving clause.

§ 10. All obligations, liabilities and taxes heretofore
incurred or imposed under said act, chapter five hundred
and forty-two of laws of eighteen hundred and eighty, are
saved, and shall be in force as if the said act had not been
hereby amended.

Taxes under section three to be on stock employed in
the state —such stock to be reported by companies—
when comptroller to make valuation thereof.

§ 11. The amount of capital stock which shall be the
basis for tax under the provisions of section three of this
act, in the case of every corporation, joint-stock company
and association liable to taxation thereunder, shall be the
amount of capital stock employed within this state. In
making to the comptroller the report in writing or certifi-
cate of estimate and appraisal of the capital stock of such
corporation, joint-stock company or association, provided
for by the first section of this act, it shall be the duty of
the president or treasurer thereof, as the case may be, to
state, specifically, the amount of capital stock employed
16 New York Corporation Tax Laws.

within this state of such corporation, joint-stock company
or association. Whenever the comptroller is dissatistied
with such report or certificate of estimate and appraisal,
as the case may be, of any corporation, joint-stock com-
pany or association, whose capital is only partially
employed within this state, he is authorized and
empowered to ascertain, fix and determine the amount of
capital employed within this state, and so settle an account
for the taxes and penalties due the state thereon. The
gross earnings in this state, which shall be the basis of
taxation, under the provisions of section six of this act,
shall be the gross earnings derived from business origi-
nating and terminating within this state, and shall in no
event include earnings derived from business which is of
an interstate character, and all settlements for such taxes
heretofore based by the comptroller upon gross earnings,
excluding earnings from interstate business, are hereby
ratified and confirmed, except that the accounts for tax-
ation under section six of this act for the years eighteen
hundred and ninety-two and eighteen hundred and ninety-
three shall be settled and adjusted by the comptroller by
excluding the earnings of an interstate character as
herein provided.

Comptroller to examine books, etc., of companies failing
to make proper reports; and to fix amount of tax.

§ 12. Whenever any corporation, joint-stock company
or association liable to make reports or certificates of
estimate and appraisal to the comptroller, under any of
the provisions of this act, shall neglect or refuse to make
such report or reports within the time prescribed in this
act, or shall make such report or certificate as shall be
unsatisfactory to the comptroller, the comptroller is
authorized to examine, or cause to be examined, the books
and records of any such corporation, joint-stock company
or association, and to fix and determine the amount of tax
and penalty due in pursuance of the provisions of this
act, either from the said books and records, or from any
New Yorx Corporation Tax Laws. 17

other data in his possession which shall be satisfactory to
him, and to settle an account for said tax and penalty,
together with the expenses of such examination, against
said corporation, joint-stock company or association.

Comptroller to have power to issue subpcnas for
witnesses, etc.—disobedience to subpena, how
punished.

§ 13. Whenever the comptroller shall deem it necessary
or important to examine any person as a witness upon any
subject or matter relating to the amount of capital stock
of such corporation, or to use, examine or inspect any
book, account, voucher or document in possession of any
officer of such corporation, or other person, or under his
control, relating to such capital stock and tax, he shall
have the power to issue a subpoena in proper form, com-
manding such person or officer to appear before him or
some person designated as commissioner by him by an
appointment in writing, filed in the office of such comp-
troller, at a timeand at the place where the principal office
of such corporation is situated within this state in such
subpcena specified, to be examined as a witness, and such
subpoena may contain a clause requiring such person or
officer to produce on such examination all books, papers
and documents in his possession or under his control,
relating to the capital stock of such corporation and the
amount thereof employed within this state. Such sub-
poena shall be served upon the person named by showing
him the original subpcena and delivering to and leaving
with him at the same time a copy thereof. The comp-
troller or the commissioner so designated by him as
aforesaid may administer oaths to such persons as he may
desire to examine, so brought before him by subpoena or
otherwise, and examine them on oath in relation to any
matter which may in anywise be material in determining
the amount of the tax to be paid by any such corporation,
joint-stock company or association as aforesaid. When.
ever any person duly subpoenaed to appear and give

3
18 New York Corporation Tax Laws.

evidence as aforesaid, or to produce any books and papers
as hereinbefore provided, shall neglect or refuse to appear
or to produce such books and papers according to the
exigency of such subpcena, or shall refuse to testify before
said comptroller or the commissioner so designated by
him, or to answer any proper and pertinent question, he
shall be deemed in contempt, and thereupon any justice
of the supreme court of the judicial district within which
the principal office of such corporation within this state is
situated, shall, upon the motion of the comptroller, based
upon affidavit showing the commission of the offense,
either, first, make an order requiring the accused to show
cause before him, at a time and place specified therein,
why the accused should not be punished for the alleged
offense; or, second, issue a warrant of attachment directed
to the sheriff of a particular county, or generally directed
to the sheriff of any county where the man may be found,
commanding him to bring him before said justice either
forthwith or at a time and place therein specified, to
answer for the alleged offense. On the return of said
attachment and the production of the body of the defend-
ant therein, the said justice shall have jurisdiction in the
matter, and the person charged may purge himself of the
contempt in the same way, and the same proceedings shall
be had, and the same penalties may be imposed and the
same punishments inflicted as in the case of a witness
subpoenaed to appear and give evidence as is prescribed
in title three, chapter seventeen of the Code of Civil Pro-
cedure, in proceedings to punish a contempt of court other
than a criminal contempt.

Comptroller to settle amount of taxes upon basis of
capital employed within the state by company.

§ 14. The comptroller is hereby authorized and directed,
upon application to him made by any corporation, joint-
stock company or association, to make, settle and adjust
all accounts against such corporation, joint-stock com-
pany or association, for all taxes and penalties arising
Niw Yorx Corporation Tax Laws. 19

under the third section of this act since the twelfth day
of May, A. D. eighteen hundred and eighty-two, by taking
as a basis for taxation the capital employed within the
state by such corporation, joint-stock company or asso-
ciation. Provided, however, that such corporation, joint-
stock company or association shall not be entitled to the
benefit of a settlement upon such basis, unless it shall
have secured such adjustment, and paid into the treasury
the full amount of the taxes so settled before the first day
of August, eighteen hundred and eighty-five, nor shall this
section apply to the case of any tax for which suit shall
have been heretofore brought by the attorney-general, in
which suit the trial has been commenced, or in which
judgment shall have been entered heretofore for the people
for the amount of said tax. Any corporation, joint-stock
company or association whose capital has heretofore been
only partially employed within this state, and which is
now liable for taxes arising under the third section of this
act since the twelfth day of May, A. D. eighteen hundred
and eighty-two, and which are still due and unpaid, may,
at any time prior to the first day of August, eighteen hun-
dred and eighty-five, pay to the state treasurer, for the
use of the state, in full discharge of the same, such sum -
of money as shall be fixed by the comptroller as the tax
due for the said period by the said corporation, jcint-stock
company or association, upon the basis of the capital
employed within the state. Provided, that this section
shall not apply to the case of any tax for which suit may
have heretofore been brought by the attorney-general, and
for which judgment shall have been entered therein, or if
in such suit trial has been commenced.

Taxes settled by comptroller—when to bear interest.

‘$15. All accounts hereafter settled by the comptroller
agreeably to the vrovisions of this act shall bear interest
from a date thirty days after the sending of notice of
settlement, hereinafter provided for, until full payment
thereof shall be made.
20 New York Corvoration Tax Laws.

Comptroller to notify company of settlement of tax.

816. It shall be the duty of the comptroller after
making with any partnership, corporation, joint-stock
company or association, liable to taxation under any of
the provisions of this act, the settlement of such taxes, to
forthwith send notice thereof, in writing, to such person,
partnership, corporation, joint-stock company or associa-
tion, which notice may be sent by mail to the post-office
address of such corporation, joint-stock company or
association.

Certiorari to review comptroller’s settlement of tax—
when to issue, and on what conditions.

§ 17. No writ of certiorari to review the determination
and settlement of the comptroller as to the amount of
capital uscd within the state by any corporation, joint-
stock company or association, and as to the tax and
penalty to be paid thereon, shall be granted, except appli-
sation therefor be made within thirty days after service
apon such corporation, joint-stock company or association
by the comptroller of notice of such settlement. Nor
shall any such writ be granted except the papers upon
which motion therefor is to be made, including notice of
motion, shall have been served upon the comptroller at
least eight days before such motion, nor unless the corpo-
ration, joint-stock company or association applying for such
writ shall, before making such motion, have deposited with
the state treasurer the full amount of taxes, penalties and
charges so settled and adjusted by the comptroller, and
filed with him an undertaking in such amount, and with
such sufficient sureties as shall be approved by oneof the
justices of the supreme court of this state, to the effect that
if said writ be vacated and the determination of the comp.
troller sustained, the applicant for the writ will make pay-
ment of all costs and charges which may accrue against
such applicant in the prosecution of such writ, including
costs on all appeals.
New York Corporation Tax Laws. 21

Comptroller to issue warrant to collect taxes found due
by settlement.

§ 18. After the expiration of thirty days from theservice
by the comptroller of notice of the settlement aforesaid, if
no proceedings shall have been taken to review the same,
as provided by this act, or if the deposit with the state
treasurer of the amount of the said settlement, together
with the undertaking, as provided for by this act, shall not
then have been made, it shall be lawful for the comptroller
to issue his warrant or warrants under his hand and seal
of office directed to the sheriff of any county in this state,
commanding him to levy upon and sell the goods and
chattels, lands and-tenements of the said corporation,
joint-stock company or association found within the said
county, for the payment of the amount of said settle-
mer.t, together with interest thereon and costs of execut-
ing such warrant, and to return the said warrant to the
comptroller, and pay to the state treasurer the money
which shall be collected by virtue thereof, by a certain
time therein to be specified, not less than sixty days from
the date of such warrant. Such warrant shall be a lien
upon and shall bind the personal estate of the person,
partnership, corporation, joint-stock company or associa-
tion against whom it shall be issued, from the time an
actual levy. shall be made by virtue thereof, and the
sheriff to whom such warrant shall be directed shall pro-
ceed upon the same in all respects with the like effect and
in the same manner as prescribed by law in respect to
executions issued against property upon judgments
rendered by a court of record, and shall be entitled to
the same fees and costs for his services in executing the
same, to be collected in the same manner.

Comptroller may readjust settlement of taxes and
resettle same.

$19. The comptroller may at any time revise and
readjust any account theretofore settled against any per-
son, association, corporation or joint-stock company by
92 New York Corporation Tax Laws.

himself or any preceding comptroller for taxes arising
under this act or the act to which it is an amendment
whenever it shall be made to appear by evidence sub-
mitted to him that the same has been illegally paid or so
made as to include taxes which could not have been law-
fully demanded and shall resettle the same according to
law and the facts and charge or credit as the case may
require the difference, if any, resulting from such revision
and resettlement upon the current accounts of such per-
son, association, corporation or joint-stock company.

.

Resettlement of taxes by comptroller— how reviewed.

8 20, The action of the comptroller upon any application
made to him by any person or corporation for a revision
and resettlement of accounts as provided in this act, may
be reviewed, both upon the law and the facts upon
certiorari by the supreme court at the instance either of
the party making such application or of the attorney-
general in the name and in behalf of the people of this
state, and for that purpose the comptroller shall return to
such certiorari the accounts and all the evidence submitted
to him on such application, and, if the original or resettled
accounts shall be found erroneous or illegal by that court
either of point of law or of fact the said accounts shall be
there corrected and restated by the said supreme court, and
from any such determination of the supreme court an
appeal may be taken by either party to the court of
appeals as in other cases.*

 

* Chapter 463, Laws of 1869, by its first section amended the acts of 1380 and 1881,
by adding thereto sections 19 and 20, as given above. Then followed a second and
independent section, in terms as follows:

§ 2. None of the provisions of this act shall apply to any taxes heretofore paid by
any person or corporation in pursuance of a judgment or order of acourt or by virtue
of any stipulation.

The words “ provisions of this act,” as used in this section, were doubt'ess intended
to refer to the provisions of sections 19 and 20 thereby added to the act of 1£80.

A third section of the act of 1889 provided that’ ‘‘ This act shall take effect imme-
diately.” It was approved by the governor June 13, 1889.
New Yorx Corroration Tax Laws. 23

Chapter 266, Laws of 1886.

AN ACT to provide for the more certain recovery of
state taxes from delinquent associations, corporations,
and joint-stock companies.

Recovery of delinquent taxes — provisions as to prose-
cutions of suits for such taxes—compensation of
informer.

Section 1. For the better enforcement of chapter five
hundred and forty-two of the laws of eighteen hundred
and eighty and the acts amendatory thereof, it shall be
lawful for any person having knowledge of the evasion of
taxation under said acts by any association, corporation or
joint-stock company liable to taxati »n thereunder, to report
such fact to the comptroller, together with such informa-
tion as may be in his possession as may lead to the
recovery of such taxes from said association, corporation or
joint-stock company ; and whenever in the opinion of the
attorney-general or comptroller the interests of the state
require it, either of them is hereby authorized to employ
such person so reporting such evasion to assist in the
collection and preparation of evidence and in the prosecu-
tion and trials of suits for such taxes; and so much of the
sum collected from such delinquent association, corpora-
tion or joint-stock company, by reason of such report or
such services, as shall have been agreed upon by such
person and the attorney-general or comptroller as a com-
pensation therefor shall be paid to such person, provided
that the sum so paid shall not exceed ten per centum of
the amount so collected; and provided, further, that
nothing whatever shall be paid to such person for such
purpose unless there shall be a recovery of taxes from
such delinquent association, corporation or joint-stock
company by reason of such report or such services.
24 New York Corporation Tax Laws.

Taxation of Foreign Banking Corpora-
tions and Trust Companies.

 

NozE.—Chapter 409, Laws of 1882, by which the statutes relating to banks and bank-
ing were revised and consolidated, contained provisions for the taxation of
foreign banking corporations and trust companies. These provisions are given
here in their present form, sections 321, 822 and 323 being as amended by chapter
196, Laws of 1894.

Chapter 409, Laws of 1882.

AN ACT to revise the statutes of this state relating to
banks, banking and trust companies.

* * * * * * * *

Foreign banking companies, partnerships, associations
or non-resident individuals to pay to comptroller an
annual tax on receipts and deposits.

§ 321. The term, doing a banking business, as used in
this chapter, means doing any such business as a corpora-
tion may be created to do under article two of the bank-
ing law, or doing any business which a corporation is
authorized by such articleto do. The term foreign banker
doing a banking business in this state, as used in this
chapter, includes:

1. Every foreign corporation doing a banking business
in this state, except a national bank.

2. Every unincorporated company, partnership or asso-
ciation of two or more individuals organized under or
pursuant to the laws of another state or country, doing a
banking business in this state.

3. Every other unincorporated company, partnership
or association of two or more individuals doing a banking
business in this state, if the members thereof, owning
more than a majority interest therein, or entitled to more
than one-half of the profits thereof, or who would, if it
were dissolved, be entitled to more than one-half the net
assets thereof, are not residents of this state.
New York Corporation Tax Laws. 25

‘

4, Every non-resident of this state doing a banking busi-
ness in this state, in his own name and right only. Every
foreign banker doing a banking business in this state, and
every officer, manager, agent, principal or member thereof,
shall be liable for the payment to the state treasurer, on
or before the first day of February in each year, of a tax
of one-half of one per cent on the amount of such busi-
ness done in this state by such banker, during the year
ending with the next preceding thirty-first day of Decem-
ber, which amount shall be ascertained as follows: By
first computing the daily average for each month of the
moneys outstanding upon loans, and of all other moneys
received, used or employed by such banker in connection
with such business, and by then dividing the aggregate
of such monthly averages by the number of months in
which such banker shall, during such years, have been
doing a banking business in this state, and the quotient
resulting shall be deemed the amount of such business.

Such companies to report receipts, etc., to comptroller
by February first annually —penalty for failure to
report.

§ 322. It shall be the duty of every foreign banker
doing a banking business in this state, and of every
officer, manager, agent, principal, partner or member of
such foreign banker, to cause a written report to be made
to the comptroller, upon blanks to be furnished by the
comptroller, or in such other manner as the comptroller
shall direct, on or before the first day of February in
each year, verified by the affidavit of such foreign banker
or of such officer, manager or agent thereof, and stating
the amount of state tax which such foreign banker is
liable to pay by virtue of this chapter, and setting forth
in detail the daily averages for each month of the year
ending on the next preceding thirty-first of December,
which forms the basis of computing such tax, and such
further or additional information as to the business of such
foreign banker done in this state, as may be required by the

4
26 New York Corporation Tax Laws.

comptroller. For failure or neglect to make such report
or pay any such tax, which any such banker is liable to
pay on or before the first day of February in any year, a
penalty of ten per cent on the amount of the tax is
hereby imp sed. If any such report shall not be made
on or before the first day of February in any year, or if
any such report made shall be unsatisfactory to the comp-
troller, the comptroller is authorized to examine, or to
cause to be examined by a commissioner appointed by
him for that purpose, any foreign banker failing to make
such report, or whose report is unsatisfactory, and the
officers, managers, agents and employes of such foreign
banker; and the books, papers and records of such foreign
banker, or other data relating to such business, for the
purpose of ascertaining the amount of the tax which
such foreign banker is liable to pay. For the purpose of
such examination the comptroller or such commissioner
is authorized to take and hear testimony, to hear and
receive affidavits, and to take depositions and require the
attendance of witnesses. On completing such examina-
tion, it shall be the duty of the comptroller to fix and
determine the amount of such tax, and of the penalty, if
any, which such foreign banker is liable to pay by virtue
of this chapter and to settle an account for su -h tax and
penalty, together with the expenses of such examination,
against such foreign banker; and such penalty and
expenses shall be added to the amount of the tax. Each’
person liable for the payment of the tax shall be liable
also for the payment of the amount of such penalty and
expenses. The amount of any tax, penalty and expenses
payable by virtue of this chapter may be recovered by
the people of the state in an action brought by the
attorney-general at the instance of the comptroller; or
the comptroller may issue his warrant under his hand
and official seal, directed to the sheriff of any county in
the state, commanding him to levy upon and sell the goods
and chattels, lands and tenements found within his county
of such foreign banker or other person named in such
New Yora Corporation Tax Laws. 27

warrant, liable for the payment of any tax, penalty or
expenses by virtue of this chapter, the amount of each of
which shall be specified in such warrant, together with
the interest thereon from the time such tax was payable,
and costs of executing such warrant. Such warrant shall
be a lien upon and shall bind the personal property of
each person against whom it shall be issued, from the’
time an actual levy shall be made by virtue thereof, and
the sheriff to whom such warrant shall be directed shall
proceed upon the same in all respects with the like effect
and in the same manner as prescribed by law in respect
to an execution issued against property upon a judgment
rendered by a court of record, and shall be entitled to
the same fees and costs for his services in executing the
same, to be collected in the same manner.

Such companies to keep account of receipts and depos-
its; subject to inspection by the comptroller.

§ 323. Every foreign banker doing a banking business.
in this state, and his managers, agents and employes,
shall cause to be kept at all times in the office where such
business is transacted in this state, a full and accurate
account of the moneys used or employed in such business
and of the deposits therein; and such account shall be
subject to the inspection of the comptroller, or of any
clerk designated by him to inspect it during business
hours of any day on which business may lawfully be
transacted.

Trust companies taxable under chapter five hundred

and forty-two, laws of eighteen hundred and eighty.

§ 324. Every trust company now or hereafter incor-
porated or organized under the laws of this state, or now
or hereafter incorporated or organized by or under the
laws of any other state or country, and doing business in
this state, shall be taxable under and subject to the pro-
visions of sections one, two, three, four and eight of
chapter five hundred and forty-two of the laws of eighteen
hundred and eighty, as amended by chapter three hundred
and sixty-one of the laws of eighteen hundred and eighty-
one. :
28 New Yvurx Corvoration Tax Laws.

HotreL CorPoRATIONS.

Chapter 592, Laws of 1886.

AN ACT to amend chapter one hundred and forty-three
of the laws of eighteen hundred and seventy-four,
entitled “An act to authorize the formation of corpora-
tions for the erection and keeping of hotels.”

Sxction 1. Chapter one hundred and forty-three of the
laws of eighteen hundred and seventy-four, entitled “ An
act to authorize the formation of corporations for the
erection and keeping of hotels,” is hereby amended by
adding thereto as follows:

When tax payable to state, under act of eighteen
hundred and eighty, may be reduced.

§ 18. If it shall appear from the report of the officers
of any corporation formed under this act made under the
provisions of chapter five hundred and forty-two of the
laws of eighteen hundred and eighty, entitled “An act
to provide for raising taxes for the use of the state upon
certain corporations, joint-stock companies and associa-
tions,” and the acts amendatory thereof, that any such
corporation has not earned, made or declared a dividend
or dividends during the year ending with the first day of
November next preceding such report, or if the dividend
or dividends earned, made or declared therein do not
amount to six per centum upon the par value of its
capital stock, then the tax to be paid by such corporation
into the treasury of the state under such acts shall be at
the rate of one and one-half mills upon each dollar of the
excess of the valuation of the capital stock thereof, made
in accordance with the provisions of the said acts over
the assessed valuation of the real estate held by and
assessed to such corporation in any such year.

§ 2. This act shall take effect immediately.
New York Corporation Tax Laws. 29

Racing ASSOCIATIONS.

Chapter 479, Laws of 1887, as amended by chapter
197, Laws of 1894.

AN ACT prescribing the period in each year during
which and the terms under which racing may take
place upon the grounds of associations incorporated
for the purpose of improving the breed of horses, and
suspending the operation of certain sections of the
Penal Code.

Racing associations to pay to comptroller annual tax
of five per cent. on gross receipts.

Srotion 1.-A tax of five per centum upon the gross
amounts of the receipts of a racing association incorpo-
rated under the laws of the state of New York for the
purpose of improving the breed of horses, whether for
the improvement of the thoroughbred or the trotting
horse, except for receipts for entries of horses entered to
compete for prizes or purses, shall be annually paid by
such associations to the comptroller of the state of New
York, within fifteen days after the first day of December
ip each year.

Association to report to comptroller amount of such
receipts by November fifteenth, annually.

§ 2. It shall be the duty of the president or treasurer of
every association liable to be taxed, as provided in this
act, to make a report in writing to the comptroller,
annually, on or before the fifteenth day of November in
each year; stating the amount of its gross receipts liable
to the tax provided for by section one of this act, verified
by its treasurer, and in such form as the comptroller may
prescribe.
30 New Yorke Corroration Tax Laws.

If report not made, or is unsatisfactory, comptroller
to examine books, etc., and fix amount of tax—
penalties for non-payment, or failure to report.

§3. Whenever any such association shall neglect or
refuse to make such report at the time prescribed in this
act, or whenever the report is unsatisfactory to the comp-
troller, or whenever in the judgment of the comptroller
the interests of the state would be promoted thereby, the
comptroller is authorized to examine or cause to be
examined, the books and records of any such association,
and to fix and determine the amount of tax in pursuance
of the provisions of this act, either from such books and
records, or from any other data in his possession which
shall be satisfactory to him, and to settle an account for
said tax, together with the expenses of such examination
against such association. In case of the non-payment of
the amount of tax so ascertained to be due, together with
the expenses of such examination for a period of thirty
days after notice to any such association so‘in default and
in addition thereto shall be liable to pay to the state for
each such omission or failure, a sum not less than five
hundred nor more than one thousand dollars, the same
may be sued for and recovered in the name of the people
of the state in any court having competent jurisdiction,
by the attorney-general at the instance of the comptroller.
The comptroller is also authorized and required to report
any failure of any such association to make such report
and to pay its tax, to the governor, who if he shall be
satisfied that such failure was intentional, shall thereupon
direct the attorney-general to take proceedings in the
name of the people of the state, to declare the charter of
such association to be forfeited and its charter privileges
at an end; and for such intentional failure the charter
privileges, corporate rights and franchises of every such
association shall cease, end and be determined.

Racing days limited — provisions of Penal Code sus-
pended — pool selling regulated.

§ 4. The number of days upon which races may be con-
ducted upon any race track or grounds is limited to thirty
New Yorx Corvoration Tax Laws. 81

days in each year, and during that number of days only
races shall be authorized and allowed upon such tracks or
grounds during which time the same may be kept open
for the admission of the public, subject to the conditions
and limitations prescribed by the acts or the several
amendments thereto under which the said associations
were incorporated, and the provisions of sections three
hundred and fifty-one and three hundred and fifty-two of
the Penal Code shall not apply to the grounds of such
associations during the number of days in each year
during which the said races are hereby authorized; that
such racing and all pool selling in this state shall be con-
fined to the period between the fifteenth day of May and
the fifteenth day of October in each year, and all pool
selling shall be confined to the tracks where the races take
place, and on the days when the races take place.

Comptroller to give receipt for taxes.

§ 5. The comptroller shall issue to every racing associa-
tion paying a tax under the provisions of this act a receipt
for the same, and such receipt shall be presumptive evi-
dence of such payment.

Taxes under this act to be disbursed to agricultural
societies.

§ 6. All revenues which shall be received by the said
comptroller from the taxation prescribed in this act shall
constitute a fund which shall be annually disbursed on
behalf of the state for prizes for improving the breed
of cattle, sheep and horses at the various county fairs
throughout the state, by the State Agricultural Society.

Illegal pool selling a felony.

§ 7. Any person who shall engage in pool selling at any
time or place except as hereinbefore stated, shall be guilty
of a felony, and upon conviction shall be punished by
imprisonment in the state prison fora period not less than
one nor more than five years.
82 New York Corroration Tax Laws.

ORGANIZATION OF CoRPORATIONS.

Chapter 143, Laws of 1886.

AN ACT to tax stock corporations for the privilege of
organization.

State tax on capital stock.

Sxotion 1. Every corporation, joint-stock company or
association incorporated by or under any general or
special law of this state, having capital stock divided into
shares, shall pay to the state treasurer, for the use of the
state, a tax of one-eighth of one per centum upon the
amount of capital stock which said corporation, joint-stock
company or association is authorized to have, and a like
tax upon any subsequent increase thereof. The said tax
shall be due and payable upon the incorporation of said
corporation, joint-stock company or association, or upon
the increase of the capital thereof; and no such corpora-
tion, joint-stock company or association shall have or
exercise any corporate powers until the said tax shall
have been paid. And the secretary of state and any
county clerk shall not file any certificate of incorporation
or articles of association, or certify or give any certificate to
any such corporation, joint-stock company or association,
until he is satisfied that the said tax has been paid to the
state treasurer. And no such company incorporated by
any special act of the legislature shall go into operaticn,
or exercise any corporate powers or privileges until said
tax has been paid as aforesaid. But this act shall not
apply to literary, scientific, medical and religious corpora-
tions, or corporations organized under the banking laws of
this state or under chapter one hundred and twenty-two
of the laws of eighteen hundred and fifty-one, entitled
“An act for incorporation of building, mutual loan and
New Yorx Corroration Tax Laws. 33

accumulating fund associations,” and the acts amendatory
thereof. (Thus amended by chapter 284, Laws of 1887.)

§ 2. The taxes imposed by this act, and the revenue
derived therefrom, shall be applicable to the general fund
and for the payment of those claims and demands which
shall constitute a lawful charge upon that fund.

[Where a reorganization takes place under Laws of
1874, chapter 430, and Laws of 1876, chapter 446, relating
to railroad companies, the new company must pay the tax
provided for by this act. (People, ex rel. Martins, v. Cook,
10 N. Y. State Rep. 650 [1887]).]

5
84 New Yorx Corporation ‘Tax Laws.

Repuction oF CapiraL STock.

Chapter 264, Laws of 1878, as amended by Chapter
306, Laws of 1882.

AN ACT to authorize corporations organized under the
laws of this state to reduce their capital stock.

May diminish capital stock — proviso.

Section 1. Any corporation or company organized under
general or a special law of the state, and now existing, or
which may hereafter be organized under such general or
special law, may diminish its capital stock by complying
with the provisions of this act, to any amount which may
be deemed sufficient and proper for the purposes of the
corporation. But nothing in this act shall be so construed
as to relieve any holder or owner of stock in such corpo-
ration from any personal liability existing prior to such
reduction; provided that nothing in this act contained
shall be construed to in any manner interfere with or affect
any law now in existence, authorizing any corporation
heretofore organized to reduce its capital stock.

Notice of meeting to reduce stock — necessary vote.

§ 2. Whenever any company shall desire to call a meet-
ing of the stockholders, for the purpose of diminishing the
amount of its capital stock, it shall be the duty of the
trustees or directors to publish a notice, signed by at least
a majority of them, in a newspaper in the county in which
the business of the company is carried on, or its principal
office is located, if any shall be published therein, at least
three successive weeks, and to deposit a written or printed
copy thereof in the post-office, addressed to each stock-
holder, at his usual place of residence, at least three weeks
previous to the day fixed upon for holding such meeting,
specifying the object of the meeting, the time and place
when and where such meeting shall be held, and the
New Yorx Corporation Tax Laws. 85

amount to which it shall be proposed to diminish the
capital; and a vote of at least two-thirds of all the shares
of stock shall be necessary to a diminution of the amount
of its capital stock.

Stock, how reduced — certificate, when filed — approval
of comptroller.

§ 3. If, at the time and place specified in the notice pro-
vided for in the preceding section of this act, the stock-
holders shall appear in person or by proxy, in numbers
representing not les; than two-thirds of all the shares of
stock of the corporation, they shall organize by choosing
one of the trustees chairman of the meeting, and also a
suitable person for secretary, and proceed to a vote of
those present in person or by proxy, and if, in canvassing
the votes, it shall be found that a sufficient number of
votes has been given in favor of diminishing the amount of
capital, a certificate of the proceedings showing a com-
pliance with the provisions of this act, the amount of
capital actually paid in, the whole amount of debts and
liabilities of the company, and the amount to which the
capital stock shall be diminished, shall be made, signed
and verified by the chairman, and such certificate shall
be acknowledged by the chairman and filed in the office
of the clerk of the county in which the business of the
company shall be carried on and a duplicate thereof in the
office of the secretary of state, with the approval of the
comptroller indorsed thereon, to the effect that the reduced
capital is sufficient for the proper purposes of the company,
and is in excess of all debts and liabilities of the company,
exclusive of debts secured by trust mortgages, and that
the actual market value of the stock of the company prior
to the reduction of the capital was less than the par value
of the same, and when so filed, the capital stock of such
corporation shall be reduced to the amount specified in
such certificate, and the amount of capital left in the
possession of the company over and above the amount to
which the capital shall be so reduced shall be returned to -
the stockholders pro rata at such times and in such manner
‘as the trustees or directors shall determine.
86 New Yorx Corporation Tax Laws.

Sale of Unclaimed Baggage and Freight
by Transportation Companies.

Nots.— The following enactment is inserted here, not because it prescribes any-
thing resembling a tax, but because it provides a source of revenue to the
state, to be paid to the comptroller by corporations otherwise liable to the
state tax. Its insertion, therefore;—helps to make complete the account
of the money transaction which such corporations must have with the comp-
troller’s office.

Section 8 of Chapter 444, Laws of 1857, as
amended by Chapter 444, Laws of 1884.

AN AOT further to amend the act entitled “ An act to
authorize the formation of railroad corporations and
to regulate the same,” passed April 2, 1850.

When transportation companies to sell unclaimed
freight or baggage — sale, how conducted, and upon
what notice—-surplus moneys to be paid to the
comptroller — disposition thereof.

§ 8. Every railroad or other transportation company
incorporated under the laws of this or any other state,
and doing business within this state, which shall have
unclaimed freight or baggage not perishable, in its posses-
sion for the period of at least one year, may proceed and
sell the same at public auction, after giving notice to that
effect in the state paper once a week for not less than four
weeks, and for a like period in a newspaper other than the
state paper published at the place designated for the sale,
and also in one published in the city of New York (said
notice shall contain as near as practicable a description of
such freight or baggage, the place and time when left,
together with the name of the owner of the freight, or
person to whom consigned, if the same be known). All
moneys arising from the sale of freight or baggage as
aforesaid, after deducting therefrom charges and expenses
New Yorr Corporation Tax Laws. 87

for transportation, storage, advertising, commissions for
selling the property, and the amount previously paid for
the loss or non-delivery of freight or baggage, shall be
deposited by the company making such sale, accompanied
with a report thereof, and proofs of advertisement, with
the comptroller, for the benefit of the general fund of the
state, and shall be held by him in trust for reclamation by
the persons entitled, or who may become entitled, to
receive the same. No sale as herein provided shall be
valid unless a copy of the notice above specified shall be
served upon the comptroller for at least two weeks prior
to the time designated for such sale.
38 New York Corporation Tax Laws.

INSURANCE.

Chapter 679, Laws of 1886, as amended by Chapter
218, Laws of 1891.
AN ACT to provide for the taxation of fire and marine
insurance companies.

Fire and marine insurance companies to pay by August
first, annually, a tax computed on gross premium
receipts.

Szorion 1. Every fire or marine insurance company,
incorporated or organized under the laws of this state, or
incorporated or organized under the laws of any foreign
country, and doing business in this state, shall, annually,
or or before the first day of August, pay to the treasurer
of the state, as a tax on its corporate franchise or busi-
ness in this state,a sum equal to one-half of one per
centum upon the gross amount of premiums received by
such company during the year ending the preceding
thirtieth day of June, on business done in this state by
such company, whether the said premiums were in money
or in the form of notes, credit or any other substitute
for money.

Such companies to report gross premium receipts to
comptroller annually.

§ 2. Every such insurance company shall, annually, on
or before the first day of August, make a return to the
comptroller of the state, signed and sworn to by its
president and secretary or manager, giving the total
amount of premiums received by such company during
the year ending the preceding thirtieth day of June, on
business done in this state by such company, whether the
said premiums were in money or in the form of notes,
credits or any other substitute for money.
New Yorx Corporation Tax Laws. 39

Penalties if officer of company fails to make report, or
makes false report— unpaid taxes collected by
action — companies enjoined from doing business
pending the action.

§ 8. If any officer of any insurance company required
by the preceding section to make and execute a return,
shall refuse or willfully neglect to make and execute the
same, such officer shall be guilty of a misdemeanor, and
any such officer who in such return shall make a willful
false statement, shall be subject to the pains and penalties
of perjury. All taxes unpaid when due by such company
under this act, may be collected by action brought in the
supreme court in the name of the people of the state, by
the attorney-general at the instance of the comptroller,
and in such action the court may issue an injunction
restraining the further prosecution of the business of the
corporation named therein until such tax due and unpaid,
together with interest and the costs of the action, are paid,
and until the return required by this act is made.

Companies taxable under this act, how otherwise
taxable.

§ 4. The lands and real estate of such insurance com-
panies shall continue to be assessed and taxed where
situated for state, city, town, county, village, school or
other local purposes; but the personal property, franchise
and business of all such insurance companies incorporated
under the laws of this state, or any other state or country,
and doing business; in this state, and the shares of stock
of said companies shall hereafter be exempt from all
assessment or taxation except as in this act prescribed ;
provided that this section shall not affect the fire depart-
ment tax of two per cent. now required to be paid.

Taxes under this act to go into general fund.

§ 5. The taxes imposed by this act, and the revenue
derived therefrom, shall be paid into the treasury for
account of the general fund, and shall be applicable to
the payment of the ordinary and current expenses of the
state.

§ 6. This act shall take effect immediately.
40 New. York Corporation Tax Laws.

Chapter 511, Laws of 1888.

AN ACT to amend chapter four hundred and sixty-
three of the laws of eighteen hundred and fifty three,
entitled “ An act to provide for the incorporation of
life and health insurance companies and casualty insur-
ance companies, and in relation to agencies for such
companies,” and the acts amendatory thereof.

Exctrion 1. Section one of chapter four hundred and
sixty-three of the laws of eighteen hundred and fifty-
three, entitled “An act to provide for the incorporation
of life and health insurance companies and casualty
insurance companies, and in relation to agencies of such
companies,” is hereby amended to read as follows:

§ 1. Any number of persons not less than thirteen in
number, may associate and form an incorporation or
company for any of the purposes specified in either of
the following departments :

First Department : To make insurance upon the lives of
persons, and every insurance appertaining thereto or con-
nected therewith, and to grant, purchase or dispose of
annuities, and against disablement or death resulting
from traveling or general accidents.

Second Department: To make any of the following
kinds of insurance and to make such examinations and
inspections as are hereinafter provided: First, upon the
health of persons; second, against injury, disablement or
death of persons resulting from traveling or general acci-
dents by land or water; third, guaranteeing the fidelity of
persons holding places of public or private trust ; fourth,
upon the lives of horses, cattle and other live stock ; fifth,
upon plate-glass against breakage; sixth, upon steam-
boilers against explosion and against loss or damage to
life or property resulting therefrom, and to make inspec-
tions of, and issue certificates of inspection upon such
boilers ; seventh, against loss by burglary or theft, or both.

§ 2. Every existing company heretofore formed under
the provisions of said act shall possess as to inspections
and certificates of inspection the same power as though
it were formed pursuant to said act as hereby amended.

§ 3. This act shall take effect immediately.
New York Corporation Tax Laws. 41

Foreign Life or Health Insurance
Compatiies.

Nors.— It is thought advisable, for the sake of completeness, to insert the follow-
ing extract from the General Life Insurance Corporations Act of 1898, the
extract relating, as it does, to the taxes to be paid by foreign corporations into
the state treasury, and so coming within the general purpose of this compilation,
although the comptroller’s office is not directly involved. It is particularly to
be noticed that the words “‘ such foreign insurance companies,” etc., etc., used
in the following extract, are not to be understood as meaning companies
formed under laws of the United States or of some state of the Union. The
extract consists of the three last sentences of a long section which in its first
sentence indicates the companies to which it relates as ‘‘any life or health
insurance company, partnership or association, incorporated by or organized
under the laws of any foreign government.” That this is not intended to sig-
nify the same as our term, ‘‘ foreign corporation,” is made evident by the fact
that the next preceding section of the same act prescribes the conditions under
which “ any company or association incorporated by, or organized under, the
laws of any other state government” may do business in this state.

The title of the act of 1853 is here given as amended by chapter 161, Laws of
1879. The extract here given is taken from the section as amended by chapter
300, Laws of 1862.

[Extract from section fifteen of chapter four hundred and sixty-three,
laws of eighteen hundred and fifty-three: Being an act entitled ‘“‘An
act to provide for the incorporation of life and health insurance com-
panies and casualty insurance companies, and in relation to agencies
for such companies.’’]

* * * * * * * *

Foreign life insurance companies to pay annual tax of
two per cent. on gross premium receipts—tax,
how applied —penalty for non-payment.

“All such foreign insurance companies, - partnerships
and associations engaged in the transaction of the busi-
ness of life or health insurance in this state, shall
annually, on or before the first day of March in each
year, pay to the superintendent of the insurance depart-
ment a tax of two per cent. on all premiums received in
cash or otherwise, by their attorneys or agents in this
state, during the year ending on the preceding thirty-
first day of December, upon which a tax on premiums
has not been paid to any other state. The avails of said

6
49 New York Corporation Tax Laws.

tax shall be paid into the state treasury, and shall be
applicable, as far as necessary, toward defraying the
expenses of the insurance department. In case of neglect
or refusal by any such company to pay said tax, the
superintendent is hereby authorized to collect the same
out of the interest on the stocks and securities deposited
by such company in the insurance department.” (See,
also, Laws 1866, chapter §25, page 1848, supra, I.; Laws
1865, chapter 60, page 54, supra, I.)
New York Corporation Tax Laws. 43

Salaries and Expenses of the Railroad Commis-
Sloners and Employes, how Assessed and
Apportioned by the Comptroller and
State Assessors.

Chapter 353, Laws of 1882.
AN ACT to create a board of railroad commissioners
and to define and regulate its powers and duties.

§ 18. The annual total expenses of said board of railroad
commissioners, including salaries for commissioners’
clerks and marshals, and additional clerical force, print-
ing of additional copies of report, as provided by section
eleven of this act, and all other expenses incident to said
board, excepting only rent of office, shall not exceed the
sum of fifty thousand dollars, and such expenses shall be
borne by the several corporations owning or operating
railroads according to their means, to be apportioned by

the comptroller and state assessors, who, on or before the’

first day of July in each year, shall assess upon each of
said corporations its just proportion of said expenses, one-
half in proportion to its net income for the year next pre-
ceding that in which the assessment is made, and one-half
in proportion to the length of main track or tracks on road,
and such assessment shall be collected in the manner pro-
vided by law for the collection of taxes upon corporations.

Chapter 441, Laws of 1884.
Comptroller to audit and allow salaries.

§ 5. The sums of money provided to be paid as salaries in
sections one, two, three and four of this act shall be audited
and allowed by thecomptrollerand paid in the first place by
the state treasurer, upon the warrant of thecomptroller, out
of any unappropriated funds remaining in thetreasury, and
the comptroller shall reimburse the treasurer in the sums
advanced from the annual appropriation made in con-
formity with the provisions of chapter three hundred and
fifty-three, laws of eighteen hundred and eighty-two, for
the maintenance of the board of railroad commissioncrs.
44, New York Corroration Tax Laws..

Salaries and Expenses of Gas Meter Inspectors,
how Assessed and Apportioned by
Comptroller.

Chapter 311, Laws of 1859.

AN ACT to provide for the inspection and sealing of
gas meters, and for the protection of consumers of
illuminating gas.

Salary, how collected.

§ 3. Such salary shall be charged to and paid into the
state treasury by the several gas-light companies in this
state, in amounts proportionate to the amounts of the
capital stock of said companies, respectively, to be ascer-
tained and assessed by the comptroller of the state; and
in case such gas-light companies, or any or either of them,
shall refuse or neglect to pay into the state treasury the
amount or portion of said salary which shall be at any
time by said comptroller required of them, respectively,
for the space of thirty days after written or printed notice
is given or sent by said comptroller to them, respectively,
in the usual way by mail, to make such payment, then the
said comptroller may and he is hereby authorized and
required to collect and recover the same from any such
delinquent gas-light company for its or either of their
said portion or amount so determined to be due with
interest thereon at the rate of ten per cent. per annum,
from the time whén said notice to make such payment was
given, together with the legal costs, fees and expenses of
collection, in the name of office of the comptroller under
his seal, by warrant or warrants in the manner provided
by the laws of this state, for raising and collecting taxes
for the use of the state upon certain corporations, joint-
stock companies and associations.

 

Norts.— Section one provides for the nomination and appointment of a gas Taree
inspector and prescribes his duties. Section two fixes inspector’s salary and term
of office. Section three was amended by chapter 332, Laws of 1£89. The remain-
ing nine sections state the duties and obligations of gas companies.

\
New York Corporation Tax Laws. 45

NOTES.

REDUCTION OF CAPITAL STOCK.

Notice of meeting of stockholders to be published at least three
weeks in county where company does business. Comptroller's fee
for indorsing approval on duplicate certificate to be filed with secre-
tary of state is $2.

EXEMPTION From LocaL TAXATION.
Corporations paying taxes, on either franchise or earnings, directly
into the state treasury, are exempt from the local tax for the sup-
port of state government. [Section 8, page 14.]

REFUNDING OF LocaL Tax.

Corporations which have heretofore paid state tax locally (while
paying directly to the state treasury), can have the same refunded
on proper application to the boards of supervisors of their counties.

CLASSES OF CoMPANIES EXEMPT FROM OPERATION OF CORPORATION
Tax Law.

Savings banks, institutions for savings, life insurance companies,
banks, foreign* insurance companies, manufacturing and mining
companies WHOLLY engaged in manufacturing and mining in this
state, agricultural and horticultural societies or associations.

CLASSES OF CORPORATIONS TAXABLE ON CAPITAL STOCK.

Gas companies, trust companies, electric and steam-heating com-
panies, lighting and power companies, safe deposit and storage
companies, plank-road and bridge companies, water-works com-
panies, royalty companies, dock companies, horse exchanges,
lumber companies, mercantile and collecting agencies, wholesale
and retail corporations, hotels, racing associations, coal companies,
mineral spring companies, real estate companies, grain warehousing
companies, apartment-houses, land improvement companies, foreign
banking companies, advertising agencies, cab and transfer com-
panies, adjustment companies, ice companies, concert companies,
building companies, canning and preserving companies. Reports to
be made on or before November fifteenth, annually; taxes due
January fifteenth.

* In the sense of other states.
46 New York CORPORATION Tax Laws.

CLASSES OF CORPORATIONS TAXABLE BOTH ON GROSS EARNINGS AND
CaPITAL STOCK.

Corporations formed for canal, steamboat, railroad, ferry, express,
navigation or transportation purposes; elevated railway, telegraph,
telephone, pipe-lines, palace-car, sleeping-car companies, fidelity and
casualty companies, steam-boiler and plate-glass insurance com-
panies. Reports on capital stock to be made November fifteenth;
taxes on same due January fifteenth.

REPORTS ON GROSS EARNINGS TO BE MADE AND TAXES DUE AUGUST
First.
Fire and marine insurance companies- pay tax only on gross
premiums. Reports to be made and tax due August first,
annually.

All corporations enumerated above owning real estate should make
a report of such holdings in accordance with part 1, chapter 13,
title 4 of the Revised Statutes.

REPORTS REQUIRED BY COMPTROULER.
REPORT OF DIVIDENDS.

(> This report should be filed in the comptroller’s cffice on
or before November fifteenth, annually. The tax based on the
report is due January fifteenth. Accounts for the same will
be sent from the comptroller’s office about January first.

(Both pages of this blank are to be used in all cases where no dividend has been
declared, and where the dividends declared do not amount to six per cent. on the
whole capital stock Where the dividends are equal to or greater than six per
cent. the first page of this blank, when properly filled, will be a sufficient Tasortl|

 

 

REPORT Of thO)s ics; wuwennedennsarnn cae ont Company, for the year
ending the first day of November, A. 1D. 18...., made pursuant to
provisions of chapter 542, Laws of 1880, and the subsequent acts
amendatory thereof.

[Give post-office address of company, street and No.]

To the Comptroller of the State of New York:
Agreeably to law, as treasurer of the above company, I make the
following report, viz.:
Date of organization of the company ......... sua ae 3
_ Total authorized capital of company...........e.ene0- Secu shire
Whole number of shares of stock authorized
Number of shares of stock issued...

Par value of each share eeKe Roa E EN WORSEN Relates Biaideeale
Amount paid into the treasury of the company on
“each shares -oiciscn ee isetesses sees wanna eee § ewiSuetes
New York Corporation Tax Laws. 47

Amount of capital upon which dividends were

Aeclared irui..se Seek Gadeee baad duis vis UE vaa eens Sicicremenwniie
Date of each dividend declared ........... a RIESE SD. ha aia acrabaeiate .
Amount of each dividend declared ....... ...2.5 «es Ge. veaels its
Rate per cent. per annum of dividends ..........0.006 0 ceseeeeeves "i
Capital stock employed in New York state ........... Biisinveewne oe

(Preceding line need not be fiiled
atid Heir eee ag lel out by companies whose eapitel is all

If not New York state, where and how employed,

Treasurer.
STATE OF NEW YORK, t ine
COUNTY OF vo. cee eee ee eaee 5
On this ............- day of ..... ey-eeey A. D., 18 ...., personally
appeared before me, a notary public in and for the county of
er SMa beep eEeR TEES, GUA tee Scaneasdaee, breasurerof

the above-named company, who, being duly sworn necamiine to
law, did depose and say, that the foregoing report is just and
true, according as the accounts stand in the books of the com-
pany, and that it includes all dividends, whether cash, stock,
scrip, or of any other character or description, declared by said
company during the year ending on the ist day of November,

Treasurer.
Sworn to and subscribed before me, ;

the day and year aforesaid.

Notary Public.
[u. 8.]

{Notary public, or other officer, should always use 4 seal.]

REPORT OF DIVIDENDS AND APPRAISEMENT.

ort and appraisement for year in which no dividend or a dividend ot less
fee tix per Sout Tas been declared, as shown by the first page of this report.

REPORT AND APPRAISEMENT of the ........eesereers +...-,Company,
for the year ending the first day of November, 18.

STATE OF NEW YORK, t ean
COUNTY OF ..eeeee cece eeeeee ;

On this ...........+ day of .......66. , A. D. 18... , before me, the
subscriber, a notary public in and for the county of Rea enee cao .
personally appeared ........+++ee+ees Pia dis , treasurer, and .........

, secretary of the abousnaticd company, who, being

re
48 New York Corporation Tax Laws.

by me severally duly sworn, did say that the amount of capital
paid in of said company is $ .........0.:05 wees , and that said com-
pany declared no dividend in cash, stock, scrip, or of any other
character or description during the year ending the first day of
November, 18...., save the dividends herein reported, and that
they will with fidelity, according to the best of their knowledge
and belief, estimate and appraise the capital stock of said company
at its actual value in cash, not less, however, than the average price
which said stock sold for during said year.

Greasipen

pinlemneeness se
Sworn to and subscribed before me, }
the day and year aforesaid.
Ati Ga acaie ae epee eaueecmeenens a
. Notary Public.
Officerot theese isd dase vene ates gated haw ote , Company,
Nee Rieewem ae. saeco ASS os

We, the undersigned, being the treasurer and secretary of the
above-named company, do certify, that in pursuance of our afore-
said oaths, we have estimated and appraised the capital stock of
said company, at its actual value in cash as follows, ViZ.:...ssee.---

.. Shares at ........005 Aophesehaan , dollars and ............006. cents
per share, amounting in the whole to..... see cece eres eeeereee
dollars. 100

In witness whereof, we have hereunto set our hands the day and
year aforesaid.
Treasurer.

Deas eaean nein 5

Secretary.

REPORT OF GROSS EARNINGS,

Report of the gross earnings in the state of New York, of the
FRGAGd SSK eee RS Ceagese Company, for the year
ending June 30, 18...., made in accordance with the requirements
of chapter 542, Laws of 1880, as amended.

 

 

Office of the ........c see wanes seaus ee Uevtece Tessas . Company.
[Please give P. O. address with No. and street.)

BERL Mea ee ee Me ee .5 18.
Gross earnings derived from all sources during the above
Period ssi dssa ve verse Heeecrrsiewonmaensinnns Rei bee as B veeeee iain

For tolls.and transportation.........+06 ice Ruins eigne Cea aware coslawe
New York Corporation Tax Laws. 49

For telegraph business.............0605 So er Bea cea beg oe
For express business.......... ahi eight ondidialiede Savwiere: rae Diecast 3
Taxable gross receipts... .....cccceascees iaieelests $s 560% a ects :
STATE OF NEW YORK,
COUNTY OF ......eccccee ceee : } ee
ON: THIS 2.3 os creeea eevee ay’ Of sexs daaswceinene sx , A.D. 18....,
personally appeared before ine, a notary public in and for the
county of ..... bee eaG emi tan geeaonns a iaetndg hare ncaa tadia , treasurer of
Chis. sc.tin os caitie ect Veaeue a eleewe Sue eee Company, who, being

duly sworn according to law, did depose and say that the foregoing
report is true and correct.

Treasurer.
Sworn to and subscribed before me,
the day and year aforesaid. '
(u. s.] Notary Public.

REPORT OF Gross PREMIUMS,

REPORT OF GROSS PREMIUMS of the .............eeeeees Insurance
Company, for the year ending June 30, 18...., made in accordance
with the requirements of chapter 679, Laws of 1886.

 

 

The premiums received during the above-named period, whether
received in money or in the form of notes, credits or any other sub-

stitute for money, amount to §.......... asian slew eine nwa wieies 7
Secretary.
STATE OF NEW YORK, t jis
COUNTY OF 1.2.6 cecececcscecs > a
On this........ day of......... , A. D, 18.. cies cs
before me, a notary public in and for the county Obs oficcce ee adeeess
spate eee gaale lage a ares , secretary of the..... Wneee Bia. grete (nara owareieiee's
a a
50 New Yorx‘*Corroratiun Tax Laws.
Insurance Company, who, being duly sworn according to law, did

depose and say that the foregoing report is true and correct.

Sworn and subscribed before me,
the day and year aforesaid. — ;

[L. s.] Notary Public.

 

AFFIDAVIT FOR EXEMPTION FROM THE PAYMENT OF CORPORATION TAX,

Norz.—In the space left for explanation, of ‘the goods manufactured, give all the
details, so that a perfect understanding of the business may be obtained by the
comptroller.

 

 

AFFIDAVIT, for exemption from the payment of corporation tax,
as levied under chapter 542 of 1880, and the acts amendatory
thereof.

STATE OF NEW YORK, ls

COUNTY OF iscccsssvacexa seas

Personally appeared before me this........... day of......... aeey
DB ay ig ae: iahasabe las sieioinsdte Sererree , who, being duly sworn, deposes and
eays, that he is ‘the Adsgesaeuen 3 Aerie OF the sivwevewiel na tamsdia acs
Company:; that the above-named: company was organized on the
aieerareratore day of ..........., 18.., under chapter ...., Laws of 18..
for the purpose of engaging in, aad that it is engaged i in the manu-
facture Of ......... cece ee eee Aisa aaa ase a aes Save aia La noes seeaenee

that the business of said company is exclusively manufacturing
within the state of New York, and the sale of products so manu-
factured, and that said company does not cause to be manufac-
tured within or without the state of New York any article sold by
it’ as its own product, or that said company does not engage in.
business of selling articles other than their own manufacture, and

that its present taciory location is at No. .... ... euieteslewu aiaiatane street,
in the ...... ss [OP i scetiratanearera cowiere » county Of ....cec ce eees ++, State of
New York.

Subscribed and sworn to before me,
this... day of......, 18... t

[L. 8.J . Notary Public,
[Notary public, or other officer, should always use a seal.]
51

New Yorx Corporation Tax Laws.

 

 

 

 

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New York Corporation Tax Laws.

52

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APPENDIX.

Regulations Concerning the Assessment of
Taxes on Incorporated Companies and the
Commutation or Collection Thereof.

Revised Statutes, Part I, Chapter XIII, Title IV.

What companies liable to taxation.

Sxzotion 1. All moneyed or stock corporations deriving
an income or profit from their capital, or otherwise, shall
be liable to taxation on their capital in the manner
hereinafter prescribed.

Such companies to make statement annually to
assessors.

§ 2. The president, cashier, secretary, treasurer, or other
proper officer, of every such incorporated company, shall,
on or before the first day of July in each year, make and
deliver to the assessors, or one of them, of the town or
ward in which such company is liable to be taxed, accord-
ing to the provisions of the sixth section of the second
title of this chapter, a written statement specifying —

1. The real estate, if any, owned by such company, the
towns or wards in which the same is situated, and the sums
actually paid therefor.

2. The capital stock actually paid in and secured to be
paid in, excepting therefrom the sums paid for real estate,
and the amount of such capital stock held by the state,
and by any incorporated, literary or charitable institution ;
and,

3. The town or ward in which the principal office or
place of transacting the financial business of such com-
pany is situated ; or, if there be no such principal office,
54 New York Corvoration Tax Laws.

the town or ward in which its operations are carried on,
or in which it is liable to be taxed under the provisions of
this chapter.

Companies to make statement also to comptroller.

§ 3. The president or other proper officer of every such.
company shall also deliver to the comptroller, on or before
the first day of July in each year, a written statement,
containing the same matters required by the foregoing
section, to be specified in the statement to be delivered to
the assessors. The statements required by this and the
preceding section of this title, shall be certified under
the oath of the said president or other proper officer, to
be in all respects just and true.

Penalty for omitting to make statements.

§ 4. If the statements above required, or either of them,
shall not be furnished by any company to the assessors
and to the comptroller, within thirty days after the time
above provided, the company neglecting to furnish such
statements, or either of them, shall forfeit to the people
of this state, for each statement omitted to be furnished,
the sum of two hundred and fifty dollars; and it shall be
the duty of the comptroller to furnish the attorney-general
with an account of all companies that shall neglect to
render such lists, that he may prosecute for the penalties
hereby imposed.
INDEX.

 

A. PAB.
Agricultural associations, exemption of, from taxation ...... ». 10
Appeal from valuation of Comptroller ............ ehiiaial anand . §
Attorney-General, actions by..... sept ete geist 04 SMaa eae 15
B.

Baggage, unclaimed, sale of, by transportation companies... 36, 37
Banks:

exemption of, from taxation.......... Siassieniece ara giareb.6. oh ---. 10
foreign ............. sea chat ebeelaiwne diocese digress Oars veee cee B4, 25
GC.
Companies:
to report dividend or value of stock.. she MOAas wR ees %
books of, may be examined by Comptroller sremates ee 16
electric, specification of.............0000005 visewiaennca ss 10
- taxation of; Toreiga! banking corporations..... Saree we 24, 25
CUBE ios assiteaiiien eeiwad ceee ee 5205480058 BSS acetic: cusate 27
DOLE] hows t's iy a Vaahacese Nae. wags vee itacatai ste a asacntane ais feud 28
TRCIDG oats sie ws Bea ncscaiah gan vesisides oes US83 Vara Chere sieeerelecepalecene 29
‘fire and marine insurance...........ssseseeeees see. 88, 39
‘foreign life............. err waeke Sarsieareee «ee 41, 42
Comptroller: ;
to make valuation of shook aaah dhcayi oceseyarsa BEd Oarerores wie oe sexe «88
to examine books of companies........ REGES GTS sie oa arenes 4. 16
to fix amount of tax ...... ccc eee e ene Saivreleieiniadees 16, 17
to have power to issue subpoenas...... Sisie isieieibarals sa do's e's! e'a 17
to settle amount of taxes ...........seeeeuee wiwisineeaeeaus - 19
certiorari to review settlement by.......... ipaeew seessess +» 20
to issue warrant to collect taxes... ....... 2... Soddigitiehsis.0 . 21
readjustment of settlement of taxed.........ceececceeseses . 2t
review of resettlement of taxes by............605 bad een se 21
to audit and allow salaries of Parleand Commissioners and.
EMplOyeS..... cece eeeseseeees subareas Meroe alaeaieasmiiieimetee « 4
Corporation:
subject to taxation............+566. see eeeewreaes seveeneee F 10
exempt from taxation..........seeee+ sececes isvcvesveaes My 10
otherwise taxable...........c0ccccecerneeees diay anavaieaaetalernice . 14
hotel s).c0 ec sccusetsieewe tial eee ee een ee eeenneeenees cesee 28
organization Of .........s..sceeeeeereeees sea aide e ease 82

reduction of capital stock of........ vivid naiseataieisiens . 34, 35, 45
56 Inpex.

Corporation — (Continued). PAGE.
classes of, exempt from taxation.......... whiewiea s Sesto seein 45
classes of, taxable on capital stock ...........cceeceeeeecaes 45
classes of, taxable both on capital stock and gross earnings.. 46

D.

Delinquent associations and corporations:
recovery of taxes froMm...........00 ceeeeereeeeceneeeeece 23
prosecutions of Suits ........ cece cece cee e eet ceeenrene 22, 23
compensation of -informer...... iGiuene mation: Wier Sssie ialinrasseann ee 22, 23

E.

Express companies:
tax ON ZrossS CATNINGS......6-.sececereeeceecce vee eoeee 18, 14
to report gross earnings to Comptroller...........csseeusees 14
penalty for failure to report or pay...... sarstciainsrei ais eisciecntes 14

Electric companies, specification Of............eee006 spac wemieutvee 10

F.

Fire and marine insurance companies, taxation of...... sees. 88, 389

Foreign banking companies:
to pay annual tax...........0e00. waciaavoas yaeeyes sdasatctaioavevese 24
to report to Comptroller .......... cece cu ee ence cere ceseeee 25
penalty for failure to report.........ceceseececenncecereeess 26
to keep account of receipts and deposits............ceesevee 27
inspection of accounts by Comptroller ............eeeeeeees 27

Freight, unclaimed, sale of, by transportation companies.... 36, 37

G.

Gas companies:
specification of....... awintes siete so.) Whe ateleslersialeistae aire Cates 10
assessment of, for salary, etc,, of gas-meter inspector....... 44

H.
Hotel corporations, reduction of annual tax........... tesiesneis s 28
I.

Insurance companies:
annual report .......cere eee ee ene eeceeeneene ikea seinmeuhees 11
penalty for failure to report or pay...........++. airesetorate weoas 18
Fire and marine:

taX ON ZTOSS PTEMIUMS........ eee ee ree teeeteeece eeeee 88
to report gross premiums to Comptroller ..... Geis eis sac 88
penalties for failure to report............eeeeee Relates 89
collection of unpaid taxes.. .......seeeee TACO ATS 39
enjoined from doing business..... sitetren tesecenececees 89
how otherwise taxable........... ses aie ia vepeuiawes en’ 189
disposition of taxes.......06.065 ePNocie@aon soewendeas oem 3Be.
Life, health and casualty: ;
incorporation Of... .....seeeees ulleaw ateenr Mnetteas aids 40
exemption from taxation.. ........... pageheainn wis 9,10, 11
Inpex. 57
Insurance companies— (Continued).

Foreign life or health: or ae
annual tax on gross premium ..... secccveesccecccee 41, 42
tax, how applied......... siden Viviete'e'ls siete ccedieldsinemans . 4
penalty for non-payment ..... biseseesinnee deaseewneee 42

L,

Lighting and power companies, specification of ....... siiesesese 10
M.

Manufacturing corporations, exemption of, from taxation ...... 10

Marine and fire insurance companies, taxation of ........ ... 38, 89

Mining corporations, exemption of, from taxation.............. 10
N.

Notice of settlement of taxes by Comptroller.......... ‘saeesene 20
O.

Organization of corporations, tax on capital stock..... weeraiie BR
P.

Penalties, where companies neglect to report... 9, 14, 26, 30, 39, 42
Preferred stock, report of dividend upon .........+.. Sissetseane: OS
R.

Racing associations:

annual tax on gross admission receipts .... .... wy dt Sieeieiose oho «> 29

annual report of admission receipts .......... ssSioveravbuatesn eis its 29

penalty for non-payment or failure to report ..... eoiareeisie aiove 30

Comptroller to examine books and fix tax of ......+-.+++++- 30

racing days limited............- bse arbre srecarayarte Mideined meses 80

pool-selling regulated .. ....ce cece eter n eee eneceeranes 30, 31

taxes to be disbursed .........- Marte naiaee ar Saiestesiats . 81

Railroad companies:
tax on gross earnings.........seeeeeeeeeeeees eccarsbecete 18,14, 16
to report gross earnings to Comptroller....... jigeaniaaeeh Sie 14
. penalty for failure to report.....+. +++ +eeseeeererteeeeesee ss 14
’ assessment of, for salaries and expenses of Railroad Com-
mission .......... oc ese SMe a Or Rivtevena 98
Reduction of capital stock........-++s0+6 ++ net eeeeenees 84, 85, 45
Reports, forms of, as required by Comptroller, 46, 47, 48, 49, 50, 51, 52
Ss.
Steamboat companies: :

taxes ON Qross CATNINGS ....... +e ceeeeeereceees soveseaes 12, 18

to report gross earnings to Comptroller......-- see eeeeeeeeen 13

penalty for failure to report.....-.+++eereeeees cece ence eee: 14

Steam-heating companies, specification of......++++ Sie aero alee a

Stock, common or preferred, report of dividends UPON. .seveerse

8
58 InpEx.

I;
Taxes: PAGE.
appliad to State expenses .....s.scecececee cesccsccsccssese 16
on stock employed in this State ...... sb ssdvvecscrvnvee 18, 18
on stock partially employed in this State .......0 seeseseses "15
settled by Comptroller.... .......seee eevee AWeisweseehe 6 18
recovery of, from delinquent corporations.......e.sseeeeees 28
Telegraph companies:
tax on gross earnings ..... eee eeeMeeaiees hewwecbediesesie L2y, 18
to report gross earnings to Comptroller..... Sear ei sve: ois ies wages 18
penalty for failure to report........cseeeeeereceees ieuadewe. At
Telephone companies:
tax ON QYOSS CATNINGS........ 0. ccc cee ee eeee eee wienasie 12, 18
to report gross earnings to Comptroller............... ene ve 13
penalty for failure to report.........-..ee08 Hiutewrwsidse ceed Le
Transportation companies:
tax on gross earnings....... uidecseeceatoe.s tocvcccccercces 12, 18
to report gross earnings to Comptroller.......sceseccccevees 13
penalty for failure to report ask gaye epabavenen gush ms oreyave iidecuaeeerswets ule
sale of unclaimed baggage and freight by ...... eosceeee 36, 387
Trust companies, taxation of......... a goangpagienaarsiowinsieie ereeantaer os eb
V.
Valuation of stock, by Comptroller ......... Sescideansagieswer ve 16
Ww.
Warrant, Comptroller to issue, to collect taxes due ...e.ceee. 21, 44
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