New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1881-05-05
THE TAXATION COMMISSION
A REPORT sUBMlTED-TwO NEW BILLS F"i i'"
WARD.
my rrlnonArH 10 rHr rrmUSf-l

fpy TFLHGHAPH 10 TN lfih'ff-i
ALBANY, May 4.-1be Tax Commission euO-
,r,tted 10 the Joint Committee tonight report on
ssso,a ,uortant lille that had been sent 10 them for
examination ard drafts Of tive blsone for the ta'auon
ur,r STORES tobacco dealers and billiard saloons
and te other for the taxation Of trust companies IN
their iupatience the Joint Committee had already SUD
,n,,ted An eNce taNation hin which Il looked On "u
fayorahly by the Legislature. The report N pai"S ~
followe; ,.,.. .,..,.
ossoc,afons mentioned ~ the fr. sccion 81 he 10
provide further re- 'une Tor ,o Sials arc s,tr 5oG
of The Laws 81 $50 which section provides t AK "a
oeae Of aI si,,s ~ money used or employed by them
In banking In this state We rtHlto ~ *
eest tint this h n large tax as Sh"Hld %
torosrd upon tie foreign associations. corpora
tions and Joint stock companies, nut IN ,t Vass
40" e c,d That II be provided for by amendment
10 Chapter 500 81 the Laws Of 1850 NC 1 oct
thai the terms OF the first section OF ths p"lSS ~,
arc 20 l.d ~ include our own H'ate hhu lHi'a'SS
banks and 10 impose n@n them ~ oi b ~ which
bv Section H. cense fee Of TlVVo helthr % W -
a. iu,posri up0u National banks. thus taAk u.uustl
i"t hanks W dv-c that the first and second sec
lions stricken out Of The proposed law. ,,,, b,on
would tax every manufacturing corporation Hahuie,ui
fagStln this STATE. would call your 70 3
90. that this Glars Of corporations was onltied from
cbster $40 Of the Laws Of 1850. after mature delDe
tion on the ground that the general welfare OF sS
,.,ir their exemption This conclusion was arrived
a 40 recently that think there can be no cage IN
the business II inannacnrss anu WE nronoseS act
The Commission sends here with bill for the taxation
OF trust companies.
The bill referred for the TAXATION of trust companies
and other OF like nature. provides that every
trust guaranty indemnity company shall DC taxed on
TIA capal stock ut its actual value In cash not less how
ever than the average price at which such stock sod
daring the year Guiding with the preceding December ~
All Investments exempt by law from taxation may De
deducted. - -. 80. Al
In addition 10 the tax IN be assessed or levied ON the
canita stock of the corporation mentioned eiOre, aN
* u he maid yearly upon the amount OF finds htlu IN
frust NV the company the date OF such assessment w
The sauc manner individual trustees are assessed
and taxed by law upon and for property hen ny them III
trust l., -. ..,.,,. or
wines or malt liquors $50, and the dealers In matt
nouors only sic annually. This does nat exempt then
FROM local taxation Wholesale dealers are 70 f TAX
Of 81 90 for selling ardent spirits or $40 Tor sc g t
Iiaors alone The dstiers Of ardent spirits IN quant-
Ties Of 500 barrels and under are 10 pay q YAK
Of 500: In quantities Of over 300 parfeib'
$500: the manufacturers OF malt liquors III 70.
spectivoly the quantities are TO pay tax OF
$50 and 800 dollars yearly The rectherr OF usuiied
suirite are To he taxed 81 % annually when the quantity
over Every retail seller Of tobacco Is tn pay tax OF q
and every dealer IN leaf tobacco tax of 80
snnuay The specific tax for keeping billiard saloon
~ 20 he S2O table aud - for each addtionat
table John r. Seymour, of the COmuiseion stated tbat
they had given the Governor power under TINS b 10
aiont in each Senatorial district COnninSOner OF
state Revenue to collect the tax under the law THIS
authority was vested in the Controller In the Tax Com
mittees bill the subject