Orleans County monitor. [volume] (Barton, Vt.) 1872-1953, 1890-12-08


period of one year terminating with the las
day OF june preceding as provided M section
six.
EXPRESS COMPANIES.
Sec. "a. Every corporation, joint stock com
pany, person or persons, doing express bust
in this state shall pay tax to the state
treasurer. which is hereby assessed, at the rate
of four per centum annually ON the gross re-
ceipts of their business transacted wholly In
this state. The tax aforesaid shall be paid
annually on or before the 10Th day of Septem-
Der, and shall be based upon the business for
the year ending with the last day of june next
preceding.
PANIEs.
Sec. %. Every steamboat, car or transpor-
tation company Incorporated under the laws OF
this state, shall pay an annual tax to the state
its property, business, and corporate fran
chise. Each such company shall make returns
to the commissioner of State taxes as required
by this act, who shall on such returns make an
appraisal of the value of its property, business
and corporate franchise, and notify the company
thereof Immediately.
Sec. 26. A tax of seven-tenths of one per
cent. is hereby assessed upon the appraisal pro
vided in the preceding section, against each
company. Said tax shall be payable to the
state treasurer, provided In section fourteen
Tor the payment OF taxes by railroad compan-
les. The same right of appeal shall be allowed
as provided in the case of railroad companies
IN section sixteen.
Sec. u. The corporations specified In the
preceding section may pay annually to the
state In lieu of the tax assessed in said section,
two per cent ON the entire gross earnings of
each said corporation respectively; and shall
make such election, returns and payment at the
time and in the manner specified In section
eighteen of this act.
Sec. %. Every corporation organized under
the laws of this state and having capital
stock or deposits of fifty thousand dollars, or
less, shall be, and hereby IS, assessed an an
nual license tax of ten dollars; and for each
fifty thousand or fractional part thereof OF cap
ital stock deposits in excess of fifty thousand
dollars. five dollars. But no tax shall exceed
fifty dollars. Said tax shall be paid to the
state treasurer annually in the month of Feb
organized for charitable, literary or religious
purposes shall be exempt from the taxes inn
posed by this section.
Sec. %. In any corporation neglects to
pay the tax assessed in the preceding section
it shall be the duty of the commissioner OF
state taxes to notify by mail the secretary or
clerk of such corporation of its neglect IN the
payment thereof, and permit the to pay
said tax within thirty days after the mailing of
such office by paying the additional sum of
one dollar.
Sec. 80. In case such corporation negIects to
pay the same within the period last aforesaid,
said commissioner of state taxes shall make
complaint therefor to any chancellor in this
state, and copy of said complaint shall be
mailed to the secretary clerk of such cor
poration at least twelve days before hearing.
IF upon the hearing before said chancellor it
shall appear that said taxes not paid, he
shall declare said corporation dissolved, and
the same shall thereupon be dissolved, and a
record of such dissolution shall be made IN the
office of the secretary of state.
INSURANCE AND GUARANTY COMPANIES.
Sec 81 Every home or foreign insurance
company or association or society, doing bush
ness IN this state; guaranty company doing
business III this state, shall pay a tax to the
state treasurer, which IS hereby assessed, at
the rate of two per cent. per annum on the
gross amount of premiums and assessments
collected on their business IN this state. Such
tax shall be payable annually In the month OF
February, and shall be based upon the business
of such company or association or society dur
ing the year terminating with the last day of
December next preceding
Sec. 81. Every life insurance company in
corporated by this state shall In addition to
the tax assessed by the preceding section. pay
tax to the state treasurer, which Is hereby
assessed at the rate of one per. cent. annually
on the surplus over and above the necessary re-
serve, computed at four per cent. of all exist
ing policies. The value of real estate taxed
locally may be deducted therefrom. Such
tax shall be payable as provided in the preced-
ing section.
Sec. SO. In determining the amount of taxes
10 be assessed under the provisions of section
thirty-one, there shall be deducted from the
full amount of premiums and assessments the
unused balance ON notes taken for premiums ON
open policies; all sums paid for return premi-
ums on cancelled policies, dividends paid to
policy-holders, and the sums actually paid to
other insurance companies incorporated under
the laws of this state or to the agents within
this state of foreign companies, for re-insur-
risks for which tax the premium
would be due had re insurance been effect
ed. Provided, however, that nothing IN this
section shall be so construed as to allow divi-
dci 9TH in stock 1aufual or
mixed companies to be considered return pre-
miums.
SAVINGS BANKS.
Sec. a. Every savings bank and savings in
stitution Incorporated by this state and doing
business herein shall pay tax to the state,
which Is hereby assessed at the rate of seven
tenths OF one per cent. annually upon the aver
age amount of its deposits and accommodations,
deducting therefrom the average amount of the
assessed valuation of the real estate owned by
such corporation and also the amount If any,
of individual deposits in excess of fifteen hum
bred dollars each, listed to depositors in towns
of this state where such depositors reside.
Sec. 80. Exery trust company savings
bank and trust company Incorporated by this
state, and doing business herein, shall pay a
tax to the state treasurer, which is hereby as
sessed, at the rate of seven-tenths of one per
cent. annually, upon the average amount of its
deposits. including money securities received
as trustee under order of court otherwise,
Q00uCT1Qg IQcf6IfOm the average amount Oh Tie
assessed valuation of the real estate owned by
such corporation; and also the amount. If any,
of Individual deposits IN excess of fifteen hum
dred dollars each, listed to depositors In towns
in this state where such depositors reside.
Sec. Sc. The taxes assessed by the two pre-
ceding sections shall be payable semi annually,
one-half in the month of February and one-half
of the month of August, and shall be based up
on the average amount of its deposits and ac-
cumulatons in case of savings banks, and the
average amount of its deposits In OF trust
companies, and savings banks and trust COM
panies. during the six months terminating with
the last day of December, and june next pre-
ceding. No other tax shall be assessed on such
deposits or Accommodations in case of savings
banks, nor ON such deposits In OF trust
companies. and savings banks and trust COM
panies, nor against the depositors account
thereof, except individual deposits exceeding
in the aggregate fifteen hundred dollars.
BUILDING AND INVESTMENT COMPANIES, AND
AGENTS FOR THE SAME.
Sec. 81. The term investment company here
matter used, shall be construed to include all
building associations, companies or corpora
tions, and all other companies or corporations
organized under the laws of this state, or any
other state or any territory, for the purpose
of negotiating placing loans secured upon
property without this state, or that may be en-
gagged In selling chooses In action, or bonds Sc
cured by mortgages on property. or which SAID
chooses in action may be secured by pledges OF
such mortgages and which may be issued or
executed by individuals or by municipal or
other corporations without this state.
Sec SO. Every person, investment company
or corporation, obtaining money from individ-
uals, residents of this state or corporations in
this state to be loaned without the state, or
doing business in this state by selling deben-
ture bonds. mortgages upon real or personal
estate, chooses In action, or securities OF any
kind upon property without this state, not in
Guiding bills of exchange having less than
twelve months to run, shall annually, in the
month of July, make returns to the commits
received, and the amount of bonds, chooses in
action or securities of any kind aforesaid
sold to parties or to corporations within this
state Said returns shall be for the period OF
one year preceding the last day of June annual
ly, except the returns to be made IN July, 1881,