Essex County herald. [volume] (Guildhall, Vt.) 1873-1964, 1890-12-12

i"'elsh insurance, loan, mortgage az -.
III v1ihp''ny fails To make returns as r.g,,,;r-
mo, 80. 90; OF u foreign insurance, loan.
I'.' gage or Investment company fa;Is 20 -,
t'N As required by this act The co,,n,;s,;P ay
% =" taxes shall notify the insurance CO.,
l''S''' rs, or inspector Of finance Of th;a sta,
Ill ~" commissioners or Inspector of finance
, ,,ini lhe'eupon revoke the license of such com
S''y anu US agents TO do business in this state
N"nce and publication of sueh rayoca,;a,, Iii
be made ~" weeks SUCCESSFULLY in sa,'n siiili
paper published in MONTPELIER II"
,L;'". axes and penalties imposed nv
'iils ACT snail he recovered with costs IN ~
acuon OF debt in the name of the stata a." 81
9 oe Teturhable IN the county court in anv
o'S oi the state. The commissioner of state
80 Shall cause such suits to be instituted
within sixty days after default in maxine -
turn OF IN paying a tax. The amount of 9avas
'HseAscd ana prnalt les accrued I'M In the t;p,a sc
ulai may be recUv ,red in suit: but whom Tho
commissioner OF state taxes is satisfied that
IJa,L' was OWN to failure of receiving
, n';.''H f OF reasonable cause, he may re-
ue pen &" rs accrued, or extend the time
Tor making return or paying tax. not excead
ing thirty days. ' "'' 0A'ee"
RAILROADS.
sec H. Every corporation COMPANY. ner-
son or persons owning or operating n railroad
ia ms STATE snail make returns to the COM
entire gross and net earnings of such corpora
uoh, company, person or persons and Is any
portion oil such railroad is withsut this stata
SUCH statement shall give the amount of the
gross and net earnings per mile of such road
. Iu'h statement shall also give the length Of
tht entire man line of road, the number of
miles thereof in this state, the kind and weight
OF ran used on ITS main line, the kind and num-
per OF ties per mile, the kind of ballast used
the number OF miles of side track 6ncludinp
tracks IN itS Yards list of its equipment, the
amount and value OF its capital stock, its fund
eu ana noatlng debt, its bonds secured by
mortgage or other securities on the property Of
such corporation, company, person or persons
anu the market value of its said stock and
ponds, ana the amount of dividends interests
or indebtedness paid annually or semi-annual-
~. In case any railroad Is leased and operated
ny the lessee, such statement, in addition to
the foregoing, shall give the amount maid for
rents thereof, and such corporation, company,
person or persons so operating said railroad
Shali itate any other matter that hall be re-
CURED by the commissioner of state taxes to
carry out the provision of this act This state
nent snail be made, sworn to, and returned as
aforesaid, onOr before the first day of Septem-
Der 1871, and whenever required by the com
missioner OF state taxes thereafter, not exceed
ing once III two years, and shall in all things
conform to the provisions of this act
Sec. II. 1t shall be the duty of the commits
sloner OF state taxes to appraise the property
and in doing he shall take into consideration
the corporate franchise of each corporation
company, person or persons owning or operat-
ing railroad in this state at its fair and lust
value, as soon as may be after the receipt of the
returns aforesaid, not later than the first day
OF November annually, which said appraisal
shall be taken to be the true value of such rail-
road ITS rights, corporate franchise and prop
erty III thus state for the purposes of taxation
Sec. Is. 1t the line of railroad extend be-
yond the limits of this state its whole valuation
ascertaned as aforesaid shall be divided by the
number of miles of its entire main line, and
the amount thus obtained shall be taken to be
the value of such railroad per mile, which said
sum, multiplied by the number of miles in this
state, shall be taken to he the true value of
such railroad, its rights. corporate franchise, and
property in this State, for the purposes of taxa
ton.
Sec. II. A tax of seven-tenths of one per
cent. is hereby assessed upon the appraisal OBJ
tanned rs provided in the two preceding sec
tons against each company, corporation, per
son or persons 80 operating railroad in this
state on the Both day of June preceding such
appraisal, One-half of which shall be payable
to the state treasurer on or before the fifteenth
of Novembar annually, and the other half on
or before the fifteenth of May annually.
Sec. -. 1t shall be the duty of the commits
si"n2r Of state taxes 10 notify the company,
corporation; person or persons aforesaid of the
amount of such appraisal and the amount of
the taxes assessed, Immediately after the same
has been appraised and assessed.
Sec. Ii. If any party, Including the state,
represented by the state treasurer), is ag-
grieyed i'll the premises, he or it may appeal to
commission consisting of the lieutenant-gov-
ernor, the auditor of accounts and the secretary
of state, who shall be sworn to the faithful
performance of their duties, and whose duty 1T
shall be to hear such appeal, and they shall
have power to grant relief in tho premises.
Their decision shall be final. Said commission
shall establish such rules and regulations rela-
tive to time, manner and method of taking,
hearing and determining such appeals AZ in
their discretion shall be just. The costs of
, such appeal shall be paid rs said commission
shall determine.
Sec. H. Any corporation, company, person
or persons owning operating railroad IN
this state may annually pay to the state in lieu
of the tax assessed in section fourteen, two and
I one-half per cent on its entire gross earnings,
if such railroad is situated wholly within this
a., state and if situated partly within and partly
!, without this state, then such tW o and One-half
per cent. on gross earnings shall be upon such
proportion of the entire gross earnings of such
railroad, as the mileage of trains run in this
( state bears to the mileage of all trains run on
= the entire main line of such road for each six
r. months period and shall make returns and
a payments rs provided i'll sections three, four
II five and six of this act.
= Sec. Is. If corporation, company, person
r or persons owning or operating railroad N
= this state shall accept of the provisions OF the
preceding section of this act, it shall be his oil
its duty, whether as owner or lessee, to make
4 returns Of the gross earnings OF said railroad a.
: provided for making returns in this act, and
e within thirty days of the time of making such
= returns, the corporation, company, person OF
y persons making the same shall forward to the
, state treasurer the amount of such two and
. ne-half per cent. for the period covered by
4 said returns.
LEASED ROADS.
Sec. l9g When a railroad is operated in Thu
% state by a person or persons, company or cor
u poratiOn, by virtue of lease or other contract
' the aforesaid taxes or payments on gross re-
II ceipts shall be paid by the lessee of such rail
: road or holder of such contract, M the cas-,
: may be, and such taxes or payments on gross
II receipts shall be charged against and deducted
o from any payment due or to become due th'
!; lessor of such railroad, or person or corporation
u granting such contract, as the case may be; un
u less in the provision of such lease or contract
% it is otherwise expressly stipulated. and the
party who ultimately pays such tax shall b'
II construed to be the party who may accept o.
" the provisions of sections seventeen ant
. eighteen.
y TELEPHONE COMPANIES.
u Sec. 20. Every corporation, joint stock com
II pany, person OF persons doing telephone bust
e ness in this state, shall pay tax to the state
= which is hereby assessed, at the rate of tire,
! per cent. annually on the gross receipts of al
:, their business earned wholly within this state
It including sums received for rental of instru
- ments. But there shall be deducted from sucl
)" gross receipts the amount paid by such corpora