The Penn's Grove record., 1892-06-17

COLLECTION thereof," approved April eigh-
teenth, one thousand eight hundred and
eighty-four.
l. BE II enacted by the Senate and General
Assembly of the State OF New Jersey. That
the first section of said act be amended 80
as to read as follows:
L. Be IL enacted by the Senate and General
Assembly of the State of New Jersey. That
every telegraph, telephone. cable or electric
light company. every express company, not
owned by a railroad company and otherwise
taxed, every gas company. palace or parlor or
sleeping car company. every oil or pipe line
company, every life insurance company lncor-
porated under the laws of this state, and every
tire, marine, live stock, casualty or accident
insurance company. doing business in this
state. except mutual fire insurance companies
which do not issue policies on the stock plan.
shall pay an annual tax. for the use of the
state. by way of a license for its corporate
franchise, "a hereinafter mentioned; provided
however. that no company or society shall be
construed to be a life insurance the company
doing business in this state within purview of
this act, which by its act or certificate of in
corporation shall have for Its object the assis-
lance of sick. needy or disabled members, the
defraying funeral expenses of deceased mem
bers and to provide for the wants of the
Nv Wb anu tiliii VI III
2. And be 1t enacted. That the second section
of said act be amended 4 so as to read as follows:
2. And be It enacted. That on OF before the
first Tuesday of May next, and annually
thereafter. 1t shall be the duty of the presi-
dent. treasurer or other proper officer of
every corporation of the character specified
in the preceding section. to make report to
the state board of assessors, appointed and to
be appointed under the act entitled AN act
for the taxation of railroad and canal prop
erty," stating specifically the following par
~ticulars, namely: each telegraph, telephone.
cable and express company. not owned by a
railroad company and otherwise taxed, shall
state the gross amount of its receipts from
business done In this state for the year pre-
ceding the first day of January prior TO the
making of such report; each gas ompan
and electric light company shall state the
amount of its receipts tor light or power sup
piled within this state for the year preceding
the first day of February prior TO the making
of such report, and the amount of dividends
declared or paid during the same time; each
parlor. palace or sleeping car company shall
state the gross amount of its receipts for fare
or tolls for transportation of passengers
within this state during the same time; each
oil or pipeline company engaged in the
transportation of oil or crude petroleum
shall state the gross amount of its receipts
from the transportation of oil or petroleum
through its pipes or in and by its tanks or
cars in this state during the same time; each
fire, marine, live stock, casualty or accident
insurance company shall state the total
amoun of premiums received by 1t for insur-
ance upon the lives of persons resident or
property located within this state, during the
same time.
3. And be it enacted, That the third section
of said act be amended so rs to read as follows:
8. And be it enacted. That If any officer of
any company required by this act to make a
return. shall in such return make a false state
ment. he shall be deemed guilty of perjury
If any such company shall neglect or refuse
to make such return within t he time limited
as aforesaid. the state board of assessors shall
| ascertain and fix the amount of the annual
license. fee OF franchise tax and the basis up
on which the same Is determined, in such man
ner as may be deemed by them most practical
BILE, and the amount fixed by them shall stand
as such basis of taxation under this act.
4. And be it enacted. That the fourth section
of said act be amended so as to read as fol-
lows:
4. And be it enacted. That each telegraph.
telephone. cable.and express company shall
pay to the state an annual license fee or fran
chise tax at the ral of two per centum upon
the gross amount of its receipts so returned or
ascertained; that each gas company and cleo
trio lightc company shall pay to the state an
annual license fee or franchise tax at the rate
of one-half of one per centum upon the gross
amount of its receipts so returned or ascer-
tanned. and five per centum upon the divi-
dends in excess of four per centum so paid or
declared by said company; that each oil or
pipeline company shall pay to the state an
annual license fee or franchise tax at the rate
of eight-tenths of one per centum upon the
gross amount of Its receipts SO returned or as
c%ertained; that each insurance company other
than life shall pay to the state an animal
license fee or franchise tax at the rate of one
per centum upon the gross amount of its
premiums so returned or ascertained; that
each life insurance company incorporated
under the laws of this state shall pay to the
state an annual license fee or franchise tax of
one per cenfum upon the amount of Its sur
plus on the thirty-irst day of December next
preceding the time of such payment as fixed
in section five, and in addition thereto a fur
Their annual license fee or franchise tax of
thirty-aye one-hundredths of one per centum
upon the total gross insurance premiums col
lected by such companies of this state during
the year ending December thirty first next
preceding; provided, that any taxes. or
charges In lieu of taxes. that may hereafter
be collected by this state from life insurance
companies of other states shall be credited in
rebate of the taxes hereby imposed on com
panies of this state, in proportion to the sew
eral amounts payable by the several compa-
MES of this state under this act; the commits
sloner of banking and insurance shall ascer-
tain and report to the state board of assessors
all facts necessary to enable the said board to
ASCERTAIN and fix the amount of taxation to
be paid by life insurance companies under
this act, and shall ascertain and report to
said board the amount of rebate to be allowed
to said companies as herein provided. and
sball also certify to each of said companies
the amount of such taxation and the rebate
allowed under this act; that each parlor, pal
ace or sleeping car company shall pay to the
state an annual license fee or franchise tax
at the rate of two per centum upon the gross
amount of its receipts so returned or ascer-
| tanned; IL any oil or pipeline company has
part of its transportation line in this state
and part thereof In another state or states,
| such company shall return a statement OF its
gross receipts for transportation OF oil or Pc
| troleum over its whole line. together with a
statement of the whole length of its line and
the length of its line in this state; such com
pany shall pay an annual license fee or iran
cbise tax to the state at the aforesaid rate
upon such proportion OF Its said gross receipts
as the length of its line in this state bears TO
the whole length of its line; hat all other
corporations incorporated under the laws of
this state. and not hereinbefore provided Tor
shall make annual return to the state board
of assessors OF such information as may be re-
quired by said board TO carry out the provis-
..o . tI.a M and shall pay an nnnual license !