West-Jersey pioneer., 1869-06-18
CHAPTER CccLXxx.-An act to increase the

CHAPTER CCCLXXX.-An act to increase the
revenue of the State.
/. Be it enacted by the Senate and General
Assembly of the State of New Jersey, That
from and after the passage of this act (eyery
private banker and br roker, and every unincor-
porated banking and saving institution and ex-
press company doing business in this state, and
all corporations incorporated by or doing busi-
ness in this state), except such as by some ex-
isting law do now pay an annual tax directly
to the state treasurer for the use and benefit of
the state shall annually on the first Monday of
November of each year make report to the
comptroller, under oath or affirmation, setting
forth the entire amount Of net earnings or in
come received by said individual company or
corporatiohpfrom all sources during the prece-
ding year; and upon such net earnings or in
come the said individual, company or corpora
ton, as the case may be, shall pay to the treas
urer for the use of the state, within sixty days
thereafter, two per centum upon the annual
net earnings or income, in addition to all other
taxes paid by the said individual, company or
corporation; and in case any corporation,
company or individual shall neglect or refuse
to make the report required as above to the
comptroller on or before the thirty-frst day of
December each year, such corporation, compa-
ny or individual shall be liable to penalty of
ten per centum for such neglect, which shall
be added to the amount of tax found due in
the settlement of their account.
g. And be it enacted, That in the settle
Element of all accounts for taxes due the state
under the preceding section of this act by cor
porations or individuals, the comptroller and
state treasurer shall charge interest upon the
balance or balances found due the state by
such corporations or individuals, at the rate of
twelve per centum per annum from the time
said taxes became due and payable to the time
of the settlement of the same and all balances
due the state by the corporations or individ-
uals aforesaid on accounts settled agreeably to
the provisions of the act of March thirtieth,
one thousand eight hundred and eleven, or any
other act Of the legislature, shall bear interest
from sixty days after date of settlement; pro-
vided, that the payment of interest as sfore-
said shall not relieve said corporations or indi-
viduals from any of the penalties prescribed
for neglect and refusal to furnish reports to
the comptroller.
8. And be it enacted, That the comptroller
and state treasurer are hereby authorized to
examine the books and papers of any corpora
ton, association, company, private banker OF
broker, to verify the accuracy of any return
made to them, or either of them, under the
provisions of this act; and the governor may
appoint agents, not more than two in number,
whose entire compensation shall not exceed
three thousand dollars per annum, who upon
his requisition or that of the comptroller, ap-
proved by the governor, are hereby authorized
to examine the books and papers of any cor
poration, association, company, private banker
or broker, to verify the accuracy of any return
made under the provisions Of this act as afore-
said.
a. And be it enacted, That this act shall
| take effect Immediately.
Approved March 81, 1869.