, 1873-05-08


sSsnns @ ssass sais ss{ e 9s ppon% ss rssss
It not ho M lnexrcablo Inv witch would Tax tho re
ceira Of ono caas Of hs!uoss, nnl permit nnothor
capital IL an equally Honorable and legit!mato bust
ness I cannot conceive how nny other than an nf.
r,nativo ankwes cnu III equity, 10 made to either OF
Whersla .o tho roce,r.a Of yarog. tnds ot bHsl.
netS: lrofesfenv md ocenpaon' ditot, there be
a aa ass seo" f
sops G seo .. dass sa' .wy aesao
farmor, mechanic, laborer, o!llcer, aud employees
tho receipts aro a prota and probably loss n thc
case OF tns11rauco hnn that Of any other buelnea8,
aneo Is With any otier business Or occupation It nay
a " snsS na 9f 70 sa
| to cloao the ycar'a busl1loss witl, no profit.
+ there any tangible roaeon Why premium rescinss
Obtained In State other than The stato n Which tho
Of other corporations persons, thus obtained as to
fsase tanat!on in se othsr State Taso cur
equitable law which would require them to payhay
per cont snx III Now York other Eastern market,
At their residence suoh cattle md grain, Liable
thereto On the amount Of money derived from suell
saleS 1s thore my reason why taxation ID equitable
comprehend It. The farmer Or dca!cr by their sncs.
them to pay such losa from their accumulated prop
crty. Regardless Ut such loBs they taxed whcro
ccipss. this apt to bo Tic rcault to insurance com.
nanes Of Inv which taxes premium receipts as
insurance companies Of this state as woll those
o othsf sass pay tax On 81 ter pFoper,y as ,h's ie
e ens
sntion or person. With what favor would the propo-
sition bo received by tho poope Of hs State, TO tar
shc year, without regard ss to tho sroston or III.
vestmcn made Of Il OF tho amount which each por.
timo Yos add 10 to ths tho proposition that Ills shall
DO done In addition to tho tax levied on their real and
personal property and wo have tue result and equity
taxing their receipts In addition to the tax which they
haye to pay on thoir propersy.
raisine reyenuo INT would only ta1 rosors thoF9
and local taxation. Whon desire The consumer
tsMio ray ii taxes, it viii hen 10 Time to ADOPT tho
prlncplo Of taxing receipts instead Of property:
To tax both The property and receipts OF ono class Of
ohors. is proposition which should 10 repnunsnt 70
u. ~ s% . 0
given lilo subject proper reflection II Tits result DO
obtained by tho laws Of different States .e injustice
| act!on-tho receipts crroueo,isy ca!lcd property.
The grand aggregate amount received by tho 11e ~
isess sesss ans 9G afs'sas s
| Cured aud exltenBeH during SAIL 5ehr IL
81 d!sss thu 9SGa bor
| ceiVod from premiums mud oiher sources. Said COM
panies hnvc grand aggregate Of assets Of SOL. .970
g66.31 on which they pay taxcs IN thoir Respective
States or aoyernn,snts. Now i there any principle q
them on tho $04 oO4 $50 30 received during tho year
when Il ia shown that they havo paid will havn tt
pay all Of aaid for loAsca aud expenses, and H.
839,07l. II in addition ttereto7
As an excuse for taxing tho premium receipts Of In
anrauce companes 1t iB asserted that they withdraw
money from tho stato In OF companies nnt
homo yeara in tho aggregate Of companies, ls may y
truo, but not always 20, nn no moro 80 tnn 1t B With
this stAte, taking tho aggregate business Of tho !aa
four years. tho only yoars for which wo have record
| Tho husinoss Of four years shows that tho sum O.
SEQ has been paid to fire and marino lBur
ance eompaniea that during said tn,o such compa
nies have paid 500 to tho owners OF property
In this State, being s43, $50 1927 than has beer
taken out Of the State paid to companies located IT
this Slate.
AZ there is no equity In tho principle of taxation
that would tax tho receipts Of insurance companies,
would seem TINT the proposition 80 TO do ia founded
solely on tho theory that such companies produc
1.-Two Of injury to tho inaured rather than protection
II this DO true tho grand figures Of relief furnished
tho prorertyholders tn this State by such compnnc
during tho past four years. in comparison witt tn
amount paid therefor should be the only Of II
hnois to such theory.
Tho whole theory Of taxation Of receipts, when th
proper locality, based on wrong proseB aud there
fors should not ba found in tue codo Of laws desgnc
to be equitable and Just to al pcrHouB and corpora
tions to which huch code may apply.
have not considered tho question. OF taxation Q
thnt 1t III generally admitted that such taxatio
ia erroneous, argument In regarl thereto would
suptriluous. @. u. LIrp1NcoTTt
Auditor puhlic accounts.