The Portland daily press., 1874-02-17
How Taxes are Raised.

| Hon. A. w. Paine in his report gives the va
rious methods of raising taxes in several States,
| which may be of interest:
| Massachusetts taxes railroad and telegraph
corporations, land all other corporations also),
| the market value of their stock, ascertained by
multiplying the number of shares by the mar
ket value of each share, and deducting the VAL
| ne of the depots and other property taxed by
| towns. The rate of4axaton is the average rate
in the several towus of the State, which in
| Massachusetts, is one and a half per cent, but
| in Maine is two per cent. Where road or tele-
| graph line is partly in and partly out of the
| State a pro rata proportion of the whole is as
sessed according to the number of miles in the
| State. The tax thus assessed is collected by
the State, and credited proportonately on the
| State tax of sucn towns as have shareholders
| in the road. That portion which remains, the
result of nonresident holders of the State, the
State keeps. Savings banks pay tax of three
fOurths of one per cent on their deposits. Mu-
tual Domestic Fire insurance Companies pay
one per cent. of premiums; domestic stock
companies are taxed like corporations; foreign
fire and marine companies pay two per cent. ON
gross premiums, but life companies pay moth
ing. The State.has Tax Commissioner with
many clerks.
Connecticut taxes railroads the same as Mas
sachusetts. except that in estimating the value
of their property the debt Of the road is added
to the market value of the shares on the theory
that the road is worth the market value of all
the shares added to the debt incurred in inn
proving it. Telegraph companies pay two per
cent. on gross receipts. Domestic fire insurance
companies pay tax on nonresident stock.
Savings banks pay three-fourths of one per
cent.
New Hampshire taxes railroads on the value
OF the property of each; but neT roads are ex-
empted for the first ten years. Insurance COM
panieS pay tax of one per cent. on their gross
premiums
Vermont taxes railroads like other property,
aecording to the value
Rhode Island taxes railroads for all their
property, including track and equipment.
New jersey imposes tax of about $500, 900
on the roads run by the Pennsylvania Central,
and half of one per cent. on all other railroads.
Insurance companies, life and fire, pay tax of
two per cant on gross premiums.
New York taxes railroads municipality ac-
cording to the value of their property, and fire
and marine insurance pays two per cent. On
premiums. Life companies pay nothing.
Pennsylvania pays the entire expenses of the
State by indirect taxation. 1t taxes corpora
tions half a mill on each dollar of capital
stock for every cent of dividend-thus making
the tax three mi Is on each dollar of capital of
ance is made for taxation of real estate by mu-
inequalities A tonnage tax of four cents per
ton was imposed on freight, but SO far as it af
fected articles going out OF the State it has been
declared unconstitutional. Other taxes have
been declared unconstitutional. A collateral
inheritance tax of five per cent. brings in a
large sum. Insurance companies pay three per
cent. on gross premium.
Ohio taxes railroads and telegraph corpora
tions, and gross premiums of insurance COM
panies, and also dogs.
Kentucky taxes express companies six per
cent. on their net profits, and railroads $40, 900
per mile.
Michigan taxes railroads two per cent. on
gross receipts under 50, 900 per mile, and three
per cent. on all above that. Telegraph ard ex-
press companies pay tax on their receipts.
Insurance companies pay three per cent. pre-
MUM.
Indiana and Iowa also tax railroads and in
surance companies. Many of the s ates enum-
Grated as well as other States, have private leg
islative acts