The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-04-28
FRANCHISE TAX BILL
CAURIEs INCREASED TAX oN ~
suUtNCE COMPANIES.
u Is N"w Ia the Hands of the Gov
crnor, nnd WIN Liisciy ur-
come IL Inv

Austin. Texas April 27Th following
Us hailcy's (ot DoWtD franchise tax hill
upon which tho insurance and Cher take
wore etgrafiod II is now IN the hand
of tho governor aud VIII most prohabl,
bccumo law.
Section I. Bc 1t enacted by the lcgisln
turo Of tho State Of Tcxas that article,
'2iSc. 52i3i, 52i3i and 52iaE of chapter .
title ioi OF tho revised ciyi statutes b,
amended ~ AS to hereafter read as ful-
lows:
Article 52i3e. Every nc nr. marine
accident or other insuiauco company at
the time OF It's nling lta annual statement
shall report To the commissioner OF In
| SuraNco tho gtoss amount Of premiums
received In this state during the proceed
INK year, and each lifo Insurance com
| rany and lie and accident insurance com
pany shall pay an annual tax of . per
cent cn such gross premium receipts and
"'rh hro Insurance company shah pay an
| annual tax OF onr-hnlf of per cent and
each marine. health. livcstock. guarantee
| or accident insurance company shall nay
an annual tax of | per cent on such
| premium receipts aud the gross premium
rrceipia aro understood to be the premium
| receipts reported 10 tho commissioner OF
| Insurance by the Insurance commands ON
| sworn statements Upon receipt by him
al sworn EtntomcntR showing tho prn.s
| premium rcccptH by such companies the
'"mmitat"ncr shall certify 10 tho state
treasurer thu amount ~ tnH duo by each
company, witch tax Hhall be paid To tho
9iHtN treasurer for Tho use OF the state
On or before the LIST day of Mnrrh fol
towing whose receipt shall be- evidence Of
payment NJ such taxes. aud no insurancr
company shan resolve a permit to do buHi-
h'sf Ia this State until such taxes are
lhld provided. that no occupation tax
hhalI ho loYicd on any insurance company
10y any county. city az town. but this urti-
81" HhhlI not bo continued to prohibit
tho levy Of Hpoh county. state ana munic-
lpnl taxes uruN tho rcat and personal
property Of such companies.
Nrticln 52ial Each md rvery private
h"ihcHlo corporation heretofore chartered
under the laws 1t thu state shall pay
TO tho secretary Of state an annual fran
ems" INK ~ $40, to be paid on or before
ih" lNl day nf Mny OF zach year ana
every such corporation which shall be-
hereafter chartered under Tho laws ~
ms stat" Hhnil also pny 10 the secretary
~ STATE an annual franchise tax OF $40
10" tax Tor the FIRST year Ia be- paid M
inc tlmc such charter rs nlod, aud the
secretary of state ebnll not he rouuirod or
pIHilri to hlu such charter until said
tax iH phid. and zach succeeding INK nhnu
bn paid un ar before tho lat day OF
May 81 each year thereafter; provided
INIT any SUCH corporation hnyluE a rnm
ihi STOCK ~ over tHpDng ana under 500 900
a. hat a.
"li having capital htVclt OF over 500
ooo hni less thah g2Oo 600 shah pay an
annual franchise tax Of $50 and having n
capital stock nf over t20U 900 shall nav
an annual franchise tax ~ $50 Ana cnrh
hhh every foreign corporation having an
authorized capital stock Of 800 0O0 or lraa.
"hlih mas hofmnfnr" received n permit
4" do btnlncla, ,n this state under tho lnwV
~ lhif state Hhhll pay Ia the secretary
OF Stato an annual franchise tax aA fol
rows Each and nvory foreign corpofn
non hhNins u capital stock OF f2s 0uO ar
Tess, an annual franchise tax NJ $50, each
ana every i"rcrn corporation having n
chpilhl stock Of more than t26 900 Nod MOI
'N'"'hint Op10o, an annual franchise
,at ~ fioo, Ia bn paid on or before the
lM dhy Of May nj each year. aud every
"urh corporation witch RhalI hcrrnf,ur
receive such permit shall nls1 pay 10 Tho
''"iFialy Of state an annual frnurhIa.
l"t "i 400 IN" tax FOR the frat year To h.,
I"ih al ia" limo such permit in issued
HNh tho secretary NJ state shall not be-
I'INli'u ~ Permitted TO Issue said per
M" nh'i' naid 'ha IN paid aud each anc-
''''tR lhR shall br paid on or before
~" ltl day nf May Of eaoh year there.
nl'"f Ana such corporation, having an
uN'h"iiHc' capital stock 81 more than
e'""Vo" hhall In addition 10 tha franchise
~ NV an above provided also pay
,, 'n'h4h" iaN OF ~ FOR every $40. ono OF
i"'IF 'fp'ial M"tk over too 900 And
any '"'pnfSlph which shall fail to pay |
W" ny provided for IN this article NJ tho |
,lmo specified horoin shall beoauho Of such |
lM'u" Nfirli 10 right TO Do buaipesH IN |
Una state which forfeiture shall be pon |
animated without judicial aAoarthlnmrnt |
~ lhr secretary Of state entering upon Tho |
nhIFlh or IA" ledger kept In hih oHicc re- |
aasf'..H 70 Au'h corporations, tho wore |
i"l'''h' giving tho date OF such for, !
'i"'Nf ana AnY corporation whose charter /
h"f y" lhua forfeited ahaii be- denied tho
'h,t 10 au" provided, IA any sui, against
-N 'HpN"li"n GA cause OF agtlrn
uN'ns b"fur" such forfeiture no afBrins
i've iNt'f may Do granted 10 such defend
.n' ,''l"ihl@nt unI".a ita charter Ia 10.
'lF'a ~ provided IN article b2iaj An |
'"hNlml'AA"n companies now paying an
'N"ehl income 'as on their gnosa reeepiA
~ 'hla slAtn shall bn exempted from Tho
ifnNisloiA Of this act.
Nt1l'io oNii The secretary of state
'hah on or before the lat day OF March
y 'a'h year, monty all private Domestic
'ul ,"iflSn CORPORATIONS subject 10 a.
'Ah'hls" tax hy any law of THE State.
~ H"ilhH TO the lr,alorloe named as
Nc r'lh'lpsi place 81 bnHinesH nf turh
W'lp'e't "a iis articles Of Incorporation
= '" nay oiher place OF husipnsa ~ huch
wpn'st"n addressed In lls corporate
'"'n'' written or printed ne'icH thai
Won VA VIII he due at date named
w, ~ record of ia. du,s 81 which
'''''"s must DO kept BY Said officer. and J