The sun. [volume] (New York [N.Y.]) 1833-1916, 1879-04-12
A CORPORATION TAX BILL.
tcNG-ENPECTED REPORT or THE
mrs AND MEANS Committee.


-, Siam. Measure for Taxing Stock Conn
~ T.. and Othrr Corporations Defeating
. .r,,,.Pnth Railroad scheme-Mr. FLYNN
.,,,,v Hack at old Snlt-Thc Lobby.
,1p,yY April 1.-THE wcaricd lawmakers
a.,u. about $40 900 from the State this morning.
vi ,bsn packing their valises and making
era that their free passes wcrO sato in their |
s,,t.,s started for New York. where in the
pn,o, n the concert saloons and theatres they |
rill seek that rest which their exhausted sys-
tens demand.
Tho Ways and Means Committee OF the AS /
sorbly have ut length agreed upon corpora
zion tax BILL Il is based upon the bill prepared
he the state assessors. though many very mato-
rial changes have been made from that Tho
following is the full tcNt;
SECTION |. The property. real and personal.
NJ every corporation or incorporated company.
association Joint stock company or copartner-
shin organized under or pursuant TO the laws
81 This state. or Of any other State or Territory
orof the United States. or under tho laws Of
nny foreign State. kingdom or Government. and
doing business in this state. except municipal
corporations and such ecclesiastical religious.
charitable and educational corporations as are
now by law exempt from taxation. and the
t,ockholders shareholders and the holders OF
the capital. or accumulated earnings or profits
OF every such corporation or Incorporated COM
many association. joint stock company. or CO.
r,rincr.hip shall DO assessed and taxed as in
this statute provided.
SEC .. Every such corporation or incorpo-
rated company, association, joint stock COM
pauy. or copartnrrshp. except as aforesaid
shall. on or before the 18th day Of January in
each year. make a report TO the Comptroller Of
the State setting forth. first. the corporate name
Of such corporation or incorporated company.
or the name or designation OF such associa-
ton. Joint stock company. or copartner-
ship. ms the case may h". tho date OF lis
organization. and whether organized under
n special or under general law.
or IL neither under or pursuant 10 what Nu-
thority such organization has been made or
exists second, the capital ~ the company.
whether in stock. shares. scrip certificates or
other certificates. as aforesaid. with the mum,
Der and amount Of each. the amount Of capital
actually paid IN, or secured 70 be paid in. AMI
the amount thereof received from or rcpr' sent
ell hy earnings or profits third. its total re-
ceipts from all sources Tor the year preceding
the first day ~ Janunry prior 10 making surh
report. and the total payments and dishurse-
ments for such year. s'nting the particulars
earnings or profits and nm estimate OF IL per
sOnal property, showing the particulars Of such
property and II its real estnte II any. aud
where situated MIR. the nssrssrd vaiuation 81
all such real estate as entered in the ass ssnent
roll at the date Of such report: sixth. the place
derives its principal income.
SEC 8. In addition 10 the particulars afore-
said. II shall be the duty OF each telegraph COM
pany to return and show the various counties
IN the State in which II has transacted business
during such year: the number " miles Of wire
Of such company: and. II more than one wire.
the number OF wires 10 each mile in each Of the
counties 81 the State.
herrnbefOre provided. snall be signed by the
President Treasurer. and Secretary OF the cor
poration. Joint stock company. association. or
cOpartnership making such report. or in case
there Is no President Treasurer. or Secretary
then by q majority OF the executive officers
thereof whatever their oflciul designation, or
10y its managing agent, and sinai l." verified hy
Mi respects true; which Vcrncation shall boz
made before any officer duly authorized hy law
10 take acknowledgment of deeds. ANY person
knowingly or wiltuy making any false state
nent in such report snail be ndluigri guilty 81
perjury. and uvon CONVECTION shqli be- imIrls-
oned in the state prison Tor not less than one
OF not more than i've years at the discretion Of
SEC 5 Any corporation. ass ociation. joint stock
company. OF coparnership which shall fail TO re-
port al the time ami in the manner herei nbefort
sum Of 81 900 and 500 for each DAY 1t shall 50
be in default and until the same shall he duly
fled with the Comptroller, which amounts shat
be recovered hy action with double costs ny m,
Attorney General, IN tn" name and tor the us'
OF the State. in any court OF competent lurlsair
ton. and execution upon such judgment shal
have precedence over any claim whatever up9l
the profits. property. and franchises OF sale
corporation in favor Of the shareholders. stock
holders srripholders. or partners thereof.
SEC g. The Comptroller may AZ any time
when deemed necessary by him. examine tn
books and also the property real and personal
OF any corporation. assoclatiun. 10 M stock com
pany or copartnership required 10 report q
him. rs herelnO-iore provided. and may eX
anime any OF It's officers upon oath in relatiol
10 It's income. property, and franchises.
SEC. l. The assessors IN ne various cities
towns, and wards Of the several counties Of th
State shall report to the Comptroller whel
called upon by him, the assessed valuation q
the real estate belonging 70 any Of the said cor
porRuons. associations. Joint stock companies
or copa<nerships IN any such city. town. U
SEC. 8. From all the information obtained
him. the Comptroller shall tiN annually. hrtwe"
the 18th day Of January and the first Iuesda
OF April. the value Of the shares or other Ger
t.Acates 81 interest in the capital or accumu
lated earnings or profits OF all such corpora
tons, assoc iations. Joint stock companies or cu
partnerships. except insurance companies %
Hssociattons and exec t rnilrOad ana iargrau,
companies; second. the amount OF the gros
receipts on It's business in this State of euch in
surunce company or association; third the 10
cation where The business ot every corporation
association, Joint stock company or cOpaItnef
snip is transacted. from which II derives II
SIC. .. The Comptroller shall reduce tho sey
eral determinations so made By him 10 writing
and shall sign and file tho same IN his office.
SEC. TO- Any corporation. association, lOlr
stock company or copaTtnership feeling ~
grirved by the determination OF the Comptrolr
made in any matter relating TO such corpora
ton association. Joint stock company or G.
partnership. may, by notice Of appeal serve
on the Coinptroler on or before the LIST day g.
MAY following. have such determination review
ed as in this section provided. The Serretar
Of State. the State Engineer and Surveyor, an
the State Assessors shall on the second Tues
day OF May IN each yenr meet IN the city g.
Albany rs q Board OF Review and after hearlu
the parties in interest. If they appear. fix an
determine the value OF the shares or stock an
scrip certificates or other certificates NJ atort
said. and the amount Of gross receipts rs aiort
sud, OF any corporation, company or assoclr
ton who. by notice, served rs Aforesaid NJ
leals from any determination made by "a
Comptroller Tho determinations made by sal
Board of Review shall be- reduced 10 writn.
signed by the Board, and filed in the office Of N
Comptroller.
SIC H. The value Of the shares. stock. Z
scrip certificates or other certificates as aior'
said. 80 liked and determined by the Conn
trolier or IN case ~ appeal. by the Board
Review VI the said several corporations, az
Citations. joint stock companies, or cOpHrtncl
SHIPS, with twenty per cent. added rs penali
m The case Of the company or orsanlIati ~
which fails 70 report as aforesaid. snail, ait
Qeductug the assessed value Ot the real estt
belonging TO such corporation. association
JOINT stock company. or copartnership, be- III
value Of the shares. stock, scrip certificates, &
other certificates, rs Aforesaid. OF such eorpOri
ton, association, Joint stock company, or c'
Partnership for all purposes ~ as easement an
upon which all taxes shall bee levied until ne
vi 4. tft.f nNt Ta.f