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

whom he or it has received such money, or Il
whom such bonds, mortgages chooses In actor
or securities were negotiated, and the amount
received from each such person, company OF
corporation. And whenever any person, agent
investment company corporation shall take
advantage of this provision, then it shall be the
duty of the commissioner of state taxes, upon
thus ascertaining the amount OF money so fur
nished to be loaned without this state, or IN.
vested in bonds, mortgages, chooses In action and
other securities aforesaid, to assess thereon a
tax of one per cent. against the person, hrnl
or corporation OF whom such agent, person. IN
vest1nent company or corporation receives such
money, to whom said bonds, mortgages,
chooses in action or other securities are nego-
tiated. And the payment of said tax shall ex-
empt the same from all other taxation thereon,
either state. municipal or local, for the period
of one year only. Said commissioner shall no
tify any such person by mail, Of the tax SO as
sessed, Immediately after such assessment is
made, and the same shall be payable to the
state treasurer within thirty days from the
time such notice is issued.
Sec. 10. Any person, agent investment COM
pany or corporation refusing neglectIng to
comply with the provisions OF sections thirty
eight and thirty-ni shall be fined not less
than five hundred dollars and not than
five thousand dollars. In case such neglect or
refusal shall be by-a foreign investment com
pany or corporation, the state shall have lien
on the bonds Of said investment company or
corporation ni6Q WlIl the state treasurer az
cording to law. for any fine or penalty which
may be recovered under this act against such
foreign Investment company or corporation. 1t
shall be the duty OF town grand jurors and
states .ttorneys, upon complaint being made
by any person, of violation of the provisions of
sections thirty eight and thirty -nine of this act,
to Immediately investigate the facts concerning
the same, and if there is reasonable evidence
OF the guilt OF any such person, agent or officer
such town grand juror or states attorney shall
prosecute such person, agent or officer for the
penalties aforesaid, provided, however, that
the provisions of sections thirty-seven, thirty
eight, thirty mine and forty shall not apply to
corporations organized in this state that pay
taxes their capital stock, premiums or de-
posits, except where the sales OF the securities
mentioned in sections thirty seven, thirty-eight
thirty mine and forty exceed their premiums, de-
posits. capital stock, and shall apply to such
excess.
Sec. Al. The secretary of state, in formulate
ing inventories for taxpayers, shall insert
therein the following question: What loans
without this state, stocks, bonds, chooses In
action. or securities of any kind, executed by
individuals, hrInss municipal or other cor
porations, without this state, were held or
owned by you on the first day af April of the
present year, which you claim to be exempt
from local taxation because of state taxation
thereon, and of what person, firm or corpora
ton did you negotiate or obtain the same?'
Sec. A. It-shall be the duty of the listers in
each town to fully inform the commissioner of
state taxes of all affirmative answers made to
such question.
POWER OF COMMISSIONERS TO RE-AssEss.
Sec 49, The commissioners of state taxes
may summon before magistrate and examine
upon oath any officer, agent clerk of a COR
poratlon, company, person or persons required
by this act to make returns or pay tax and
may examine any book of accounts kept by
such corporation. company. person persons,
concerning all matters as to which information
required to carry out the provisions of this act.
Sec. A. Any such officer, agent, clerk, per-
son persons, who refuses to appear and be
sworn, to testify with reference to the mat
tiers to which he is required to testify by the
the commissioner such books of account. shall
be fined not less than five hundred dollars and
not more than five thousand dollars.
Sec. ID. If the commissioner of state taxes
finds that, owing to the incorrectness of return,
or to any other cause, tax paid is too small
cover the deficit, and shall forthwith notify by
mail the parties assessed If such addition
al assessment is not paid within thirty days aft
ter notice, as above, the corporation, company,
person persons whom it is assessed shall
be liable to the same penalties as for neglect to
pay annual semi-annuai taxes.
Sec. 40. This act shall not affect the liabili-
ty of companies and persons to pay the tax to
the state already accrued prior to July l. 1890,
under act number one, laws of 1852, and amend
ments and additions thereto, in the same man
if this act had not been passed. The
first semi-annuaI period on which taxes assess
ed by this act shall be based shall be the
period commencing with the first day of July,
$780, and terminating with the thirty first OF De-
cember, 1890, except otherwise provided in
this act. The first annual period which
taxes shall be assessed by this act shall be the
period commencing the first day of July, 1890,
and terminating with the last day of June,
1851, except as otherwise provided In this act.
And all persons. companies or corporations re-
quired by this act to make returns and pay taxes
for annual periods shall also make their first
returns and first payment of taxes at the same
rates and under the same regulations that are
heretofore provided, for the period of six
months, beginning with the first day of July,
1890, and terminating with last day of Decem-
Der, 1890.
Sec. At, Sections three hundred fourteen,
three hundred fifteen and three hundred six
teen of the revised laws are hereby repealed.
Sec. As. Real and personal estate used in
operating a railroad. or used In carrying on ex-
press, telegraph or telephone business in this
state, and the real and personal estate owned
by steamboat, car and transportation compan-
les taxed by this act. also stock in telephone,
insurance, steamboat. and transportation
companies, which companies are taxed by this
act, shall not hereafter be set in the grand list
and shall not be required to be stated in the
inventories that are returned to listers.
Sec. 40. So much of the charter of any cor
poration or company organized under the laws
of this state as exempts such corporation or
company from taxation far it conflicts
with this act, is hereby repealed.
Sec. 30. This act shall take effect from its
passage.
Approved November Is, 1890.