The Lambertville record. [volume] (Lambertville, N.J.) 1872-1968, 1892-07-06
CHAPTER Lxxvr

to read as follows:
/. Be it 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 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
incorporated under the laws of this state.
and every fire, 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, as hereinafter men
toned; provided however, that no company
or society shall be construed to be a life in
suranee company, doing business in this
state within the purview OF this act, which
by its act or certificate of incorporation shall
have for its object the assistance of sick,
needy or disabled members the defraying
funeral expenses OF deceased members and to
provide for the wants of the widows and
families of members after death.
2. Aud be it enacted, That the second sec
ton of said act be amended so as TO read as
2 And be it enacted. That on or before the
first Tuesday of May next and annually
thereafter, it 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 APP
pointed under the act entitled AN act for
the taxation of railroad and canal property"
stating specifically the following particulars
express company, not owned by q railroad
company and otherwise taxed shall state the
gross amount of its receipts from business
done in this state for the year preceding the
first day of January prior to the making OF
such report; each gas company and electric
light company shall state the amount of its
receipts for light or power supplied within
this state for the year preceding the hrst day
of February prior to the making OF such re-
port, 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 tran 3pOrtation of passengers within this
| state during the same time; each oil or pipe
| line company engaged in the transportation
| of oil or crude petroleum shall state the gross
amount of its receipts from the transporta-
| tion 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 amount OF premiums received
| by it for insurance upon the lives OF persons
resident or property located within this ate,
| during the same time.
8. And be it enacted, That the third section
| of said act be amended so as to read as fol-
| lows:
| 8. And be it enacted. That if any officer of
any company required by this act to make
| return, shall in such return make false
statement he shall be deemed guilty of per-
| jury; il any such company shall neglect or
| refuse to make such return within the time
| limited as aforesaid, the state board of asses
| sors shall ascertain and fix the amount of the
| annual license. fee or franchise tax and the
| basis upon which the same is determined, in
|
| practicable, and TIE amount fixed by them
shall stand as such basis of taxation under
| this act.
l. And be 1t enacted, That the fourth sec
| ton of said act be amended so as to read as
| follows:
T. And be it enacted, That each telegraph,
| telephone cable and express 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 re-
! turned or ascertained; that each gas COM
pany and electric light 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
| turned or ascertained, and five per centum
| upon the dividends in excess of four per CEN
| tum 80 paid or declared by said company;
| that each oil or pipe line company shall pay
to the state an annual license fee or fran
| chise tax at the rate of eight-tenths of one
per centum upon the gross amount of its re-
| ceipts so returned or ascertatned; that each
| insurance company other than life shall pay
| to the state an annual, 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 com
/ pany incorporated under the laws of this
state shall pay to the state an annual license
| fee or franchise tax of one per centum upon
| the amount of its surplus on the thIrty-tirst
| day of December next preceding the time of
such payment as fixed in section five, and in
addition thereto a further annual license fee
or franchise tax OF thirty five One-hundredths
| of one per centum upon the total gross in
| surance of premiums collected by such COM
panies of this state during the rear ending
| December thirty first next preceding; pro-
| v1ded, 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 companies of this state
| in proportion to the several amounts pay
| able by the several companies of this state
under this act; the commissioner of banking
and insurance shall ascertain and report
to the state board of assessors all facts
necessary to enable the said board to as
| certain 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 al
| lowed to said companies as herein provided,
and shall also certify to each of said com
| panies the amount of such taxation and the
| rebate allowed under this act that each
| parlor, palace or sleeping car company shall
/ pay to the state an annual license fee or
i franchise tax at the rate of two per centum
| upon the gross amount of its receipts so re-
| turned or ascertained; III 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 state
| ment OF its gross receipts for transportation
| OF oil or petroleum over It's whole line, to-
| gether with statement of the whole length
| OF Its line and the length of its line in this
| state; sucn company shall pay an annual
/ license fee or franchise tax to the state at
| the aforesaid rate upon such proportion of
Its said gross receipts as the length of its line
| 10 this state bears to the whole length of its
| line; that all other corporations Incorporated
| under the laws OF this state, and not herein
| before provided for, shall make annual return
| 10 the state board of assessors of such infor-
| nation as may be required by said board to
| carry out the provisions of this act and shall
| pay an annual license fee or franchise tax of
one-tenth or one per centum ON all amounts
| of capital stock issued and outstanding up to
| and including the sum of three million dol
lars; on all sums of capital stock issued and
outstanding in excess of three million dollars
| and not exceeding five million dollars an
| annual license fee or franchise tax of one
sm ~ t,f VI Dne per centu. ana the further
hon dollars or any part thereof, on all
amounts of capital STOCK issued and out
m AF Axre. ...tll a
provided, that this act shall not apply to rail.
way. canal or banking corporations or to
savings banks cemeteries or religious corpo-
| associations. or manufacturing or mining
| corporations at least fifty per centum Of
| whose capital stock issued and outstanding
| Is invested in mining manufacturing car
| ried on within this state; If any manufactur-
Ing or mining company carrying on business
andnr o. ss saRita Il stos issued and out
within this state, such company shall pay the
annual license fee or franchise tax herein
provided for companies not carrying on bust
ness in this state. but shall be entitled, in the
| computation of such tax, to a deduction
| from the amount of its capital stock issued
and outstanding of the assessed value of its
| turing or mining.
s. And be 1t enacted, That the fifth section
of said act be amended SO as to read as fol-
lows:
s. And be it enacted, That the state board
OF assessors shall certify and report to the
SUmptIoii6rO VI tnt etdtes on or DefOre the first
| Monday of June in each year, statement Of
the basis of the annual license fee or franchise
| tax as returned by each company to, or ascer-
talned by the said board, and the amount of
| tax due thereon respectively, at the rates
| fixed by this act; such tax shall thereupon be-
come due aud payable, and it shall be the duty
| OF the state treasurer to receive the same; lie
/ the tax'of any company remains unpaid on
| the first day of July, after the same becomes
| due, the same shall thenceforth bear Interest
! at the rate OF one per centum for each month
| until paid; the state board of assessors shall
have power to require of any Corporation sub.
| ject to tax under this act such Information
| or reports touching the affairs of such com
| pany as may be necessary to carry out the
provisions of this act; and may require the
| production of the books of such company
and may swear and examine witnesses In re-
lation thereto; the comptroller shall receive
/ as compensation for his services under this
| act, and under the act entitled IAN act for
the taxation of railroad and canal propertyn
| approved April tenth. one thousand eight
hundred and eighty-four, the sum of five hun
| dred dollars annually.
8. And be it enacted, That all acts and parts