Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1882-12-13
Laws Of Vermont.

Public Acts designated for publication in The
newspapers by he Secretary Of State
No. Am to provide Tor the payment Of
1t is hereby enacted by the General Assembly OF the
State OF Vermont:
SECTION Funds for the payment Of state expenses
shall be raised by direct upon the corporate
franchise business in this state Of railroad insurance.
guarantee express, telegraph telephone steamboat
and transportation companies, savings banks savings
institutions and trust companies provided in this act,
and shall be payable in money the for
COMMISSIONERS OF srAra TAXES.
Sac. The governor, in the year 1889 and benni-
ally thereafter, shall appoint, with the advice and con-
sent Of the senate commissioner Of state taxes whose
term Of Office shall commence at time Of his appoint
ment and continue until his successor is appointed
Vacancies In such office shall be filled by the governor
lie shall report hennially the general assembly and
his report shall be printed with the Vermont Off
GERS reports. Such commissioner shall receive from
the state treasury an annual salary of one thousand
dollars and his necessary expenses incurred in the dis
charge OF his duties; but for clerk hire fuel
lights or rent shall be allowed to such officer.
Sac A. The commissioner Of state taxes shall send
by mall or otherwise furnish to the principal office Of
each corporation company person persons required
by this act to pay tax to the state and to such agents
in this state of foreign insurance companies as do not
make returns other agents in this state blanks in
trplicate formulated as to require statement Of all
facts necessary determine the OF each annual
or semi-annual tax to be paid by such corporation,
company, person or persons.
Sac. T. Every corporation, company, person per-
sons required by this act to pay to the state and
the agents OF foreign insurance companies specified in
the preceding section, shall cause such blanks to be
required and with full all interrogatories
therein contained and shall the to be re-
turned as provided in the following section. Such
blanks so filed shall be signed and sworn to by the
treasurer cashier, chief financial officer of the cor.
poration company or by the person or persons making
Sac s. Blanks filled out and sworn to as provided
in the preceding section shall be returned copy to
the commissioner of state taxes and one copy to the
state treasurer annually In the month of February for
the year terminating with the last day Of December
next preceding, or semi-annually in the months Of
February and August for the semi-annua period term-
mating with the last day of December or June pre-
eedng, respectively according to the subsequent pro
visions of this act; and copy shall be retained by
the corporation company, person or persons making
pASNENr or TAX.
SIC. g. At the time of making a return the corpora
ton company, person or persons making the same,
except agents OF foreign Insurance companies, shall
forward the state the amount Of the annual
or sem-annual tax for the period covered by such
turn. Each annual tax due from foreign insurance
companies shall be paid by such company to the
treasurer within the time limited by this act.
PENALTIES.
SIC. 7. A corporation, company, person persons
whose duties is 10 make return to the commissioner
OF state taxes, who fails to do so within the time
qured by this shall forfeit to the hundred
dollars for each day neglect to make such return
SEC. g. corporation company, person or persons
failing pay the amount OF any annual semi-annual
tax within the time required by this act shall forfeit
the the hundred dollars for each days
neglect to pay the same after the expiration Of the
time limited by law.
SEC. O. II a foreign insurance company, or anagent
OF foreign insurance company, fails to make return
fails to pay tax to the state as required by this
act the commissioner of state taxes shall notify the
insurance commissioners OF this state and such com
mssioners shall thereupon revoke the license of such
company to do business in this state, and shall revoke
the licenses OF all agents of such company in This state
and notice and publication OF such revocation shall be
made in the same manner as provided in case of revo
cation under section 3t22 OF the revised laws
SEC. Taxes and penalties imposed by this act
shall be recovered with costs in an action Of debt
brought in the name OF the state The commissioner
OF state taxes shall cause such suits TO be instituted
within thirty days after default in making return
paying tax The amount OF penalties accrued up to
81 ka
the commissioner is satisfied that default owing to
the failure receive blanks other unavoidable
he may remit the penalties accrued and extend the
time for making the return or paying tax not exceed
ing thirty days.
ing operating railroad in this state whether as
owner lessee receiver, trustee otherwise shall pay
tax to the state on the entire earnings of such
railroad If such railroad situated wholly within the
II such railroad is situated partly within and
partly without the state the shall be upon such
proportion of the entire earnings of such railroad
as the mileage Of trains run in this bears the
mileage OF all the trains run the entire main line OF
the road,
according TO the earnings mile of road in this state
and is hereby assessed at the oil two per
the first two thousand dollars mile to al earn
ings If less than that sum- at the rate OF three per
on the first thousand or part thereof above two thou
sand dollars mile at the rate of four per the
hrs thousand or part thereof above three thousand dol
lars mile and when the earnings exceed four thous-
sand dollars mile, at the the rate of five per
all earnings above that sum
SIC. -. Such tax shall be payable one-haf semi
annually in the months OF February and August and
shall be based upon the gross earnings during the six
months terminating with the last day OF December or
June next preceding.
Sac. a. When a railroad is operated in this state By
lessee OF such railroad holder OF such contract as The
case may be- and the said tax shall be charged against
and deducted from any payments due to become due
poration granting such contract, the case may be
on account OF such lease contract unless in the pro
visions OF such lease contract it is stipulated other
wise.
INSURANCE COMPANIES.
SIC, IS. Every home foreign insurance company
OF association doing insurance business in this state
or guarantee company doing business in this state
shall pay tax to the state which hereby assessed, at
the rate OF two per per the gross amount
OF premiums and assessments collected in their business
IN TINS state; such tax shall be payable annually in
business OF such company during the year terminating
with the last day Of December next preceding.
SIC 10. Every life insurance company Incorporated
by this state shall, in addition to the assessed BY
The preceding section pay tax to the state which Is
hereby assessed az the rate of one-haf OF one per
cent annually all surplus and above the neces-
sary reserve computed at four per cent all existing
policies The value OF the real estate owned by such
insurance company shall be deducted from the surplus
Such tax shall be payable annually provided in the
preceding section.
SIC. u 10 determining the amount Of tax to be
assessed under the provisions of section fifteen there
shall be deducted from the full amount OF premiums
and assessments, unused balances notes taken for
premiums on open policies, all sums paid for return
premiums cancelled policies, dividends to policy
holders and sums actually paid to other insurance
companies incorporated under the laws of the state or
to the agents within this state OF foreign companies for
Reinsurance on risks for which on the premium
would be due had no reinsurance been effected. Pro-
srued " allow dividends in scrip otherwise in
stock, mutual or mixed companies to be considered
return premiums.
SAVINGS BANKS, SAVINGS INSTITUTIONS AND COM
PAHIEs.
SEC, IS. Every savings bank and savings institution
incorporated by this state and doing business herein
shall pay tax to the state which is hereby assessed al
the rate OF onehalf OF one per annually upon the
average amount OF its deposits and accumulations de-
Quoting thereirom the average Of its assets in
vested real owned by such corporation and also
4 nj lnttxf Al ..a
teen hundred dollars each listed to deposors in towns
in this state where such depositors reside.
SEC. I9. Every trust company and savings bank |
and trust company Incorporated by this state and
doing business herein shall pay tax to the state |
annually upon the average amount OF its deposits in |
GLIDING money or securities received as trustee under
order OF court or otherwise doductng herefrom such
percentage such institution pays to the United |
States government so long such tax is paid and also
the average amount OF its assets invested real estate
owned by such corporation, and also amount II any OF
indiv dual deposits in excess Of fifteen hundred dollars
EACH listed to deposors in towns in this where
such depositors reside.
Sac, 90 The tax assessed by the two preceding sec
lions shall BE- payable one,hai em;anngally u the
upon the average amount of its deposits and accumu-
lations in case OF savings banks and the average |
amount Of its deposits IN case of trust companies and
savings banks and trust companies" during the six
months terminating with the las, day of December
June next preceding. No other tax shall be assessed
such deposits accumulations in case Of savings
banks, on such deposits in OF trust companies
and - savings banks and trust companies against
the depositors account thereof, except individual
deposits exceeding in the aggregate fifteen hundred |
dollars.
EXPRESS, TELEGRAPH AND TELEPHONE COMPANIES.
SIC. Every corporation JOINT stock company, |
person persons doing express business in this state
shall pay tax to the state which is hereby at
the rate OF three per cent annually the gross re
ceipts of their business transacted in this state
SEC. Every corporation, joint stock company |
person or persons doing telegraph business in this |
state shall pay tax TO the state which is hereby |
assessed at the rate of three per annually on the
gross receipts OF their business transacted in this
state.
Sac, az. Every corporation, joint stock company
person or persons doing telephone business ir this
state, shall pay tax to the state which is hereby
assessed at the rate Of three per annually the
gross receipts OF all their business in this state ncud
ing sums received for rental OF instruments. But
there shall be deducted from such gross receipt die
amount paid by such corporation, company persons
to any telegraph company with whom they are con-
nected.