The Manchester journal. [volume] (Manchester, Vt.) 1861-current, 1883-09-13

The Corporation Tax Law.

a statement showing Tue practical oper'
ation Of the corporation tax law for the
first semi.aunual period has been furnished
to the Free Pros by The Commissioner OF
State taxes, ". T. Dillingham;. The ex.
act amount Of taxes paid by corporations
cannot be stated, but they are approxi-
maiely as follows Taxes paid by savings
banks, s25, 6s5 50; trust companies, Sla.-
coo 10; steamboat, car and transportation
companies, s2.9sS 20; railroads, 800.
GjT 20; express companies, SCAT 50 tele-
graph, ST. II; telephone, SSl 46;-- making
o total Of S64, 702 90 Up to September
lst the following corporations had for
war,led their returns to the commissioner
as required by law:
All the savings banks aud trust compa.
nies except one.
OF the railroads, the bennington and
Rutland. the Boston Hoosac Tunnel and
Western, the Missisquoi, Montpelier and
Wells River, st Johnsbury md Luke
Champlain, Vermont Valley, Woodstock,
Biaiilebolo and Whitehall, Vermont aud
Massachusetts,, Rutland, Addison, Mont
pelier aud White River. Vermont and Can
ada.
Steamboat. transportation and car com.
panies The Grand Isle Steamboat compa-
ny, Champaign transportation company,
National car company,
Express companies American, Nation
al and United States and Canada.
Telegraph compani,s- Middleton lVtl
and Vermont International.
Telephone companies Brattleboro Tel
ephone exchange, A. Q. Brown, Montpel-
Ter, Randolph Telephone company, Geo.
A. layers, Pi,tsford
The Burlington and Lamoile railroad
company and Others claim to he exempt
from taxation for a term of years under
the law 81 1876 and is.s statutes pertaining
10 the snbjeei. II il believed that certain
corporations outside Of tie state that have
not vel flied their sta emenls. intend TO do
so, but through ignorance OF the statute
failed TO ttiid them prtyions to September
l. The Etee Press has the following com
ments on Tie statement:
some oI tie corporations whose taxes
we're due iu August have not complied
With the law, and the returns of those
which have complied are subject to reyls-
ION. The total amount actually realized IL
only s54, 500 % Let us see how this re.
sult compares with the estimates made by
the supporters oil the law at the time OF
its passage by the Legislature. We were
then told tLa. the tax on railroad earnings
wo,ild ntt the state sl50, 900 per year; but
the s.mi ausual tax due 10 August apgre
gated $40. 05T 20 From car, trsnsporta
lion sud steamboat companies sere prom
Used iroin 81. 900 TO $40. 600 annually; the
actual .un ior the bali year Is oniy ~,
SIS ~ From eapuss. telegraph aud tel
.phon~ con l,afaies II was said the tax would
raise $1,000 OF $500: the half-yeaily tax is
oul, SIsl.lG. From saving. banks. etc,
We we've told tie Tax would realize $40,
900, Tie returns und,r consideration show
that the Tax for ilie bali year realizes $40,
275 IA or u considerable excess, proper
Iiouat.iy From insurance companies u
ens ei,secled 10 rsisu $4,000 What the
.niunnl actually sill prove 10 be cannot OF
caurse br known nniil ihe end OF the year.
Tii.se figures do not seem 10 as at all en-.
rasnraging o. the basis OF the fret six
fnonlhs lae iss.s for the whole year would
WED onls S,2g 4oIl adding 10 this
rum ~hai.ver msy lse received ffom the
corporations ~hicii have not yet reported.
aud from the insurance companies. aud II
can hardly he possible but the aggregate
will be ,,ry nnch les than the s2Ji.ooO
which II ~ss said the Lac would raise.
The case may not prove 10 he such, Of
course. bni II looks very much like u
Tie las 10 most excellent one a. far a. !.
goes. bat IL docs not 90 'sr enough. appar.
enily.