The sun. [volume] (New York [N.Y.]) 1833-1916, 1898-01-17

!atio was less than 2 pcr cent. The ratio OF
pJrsDns, properly 70 real, paying. taxes, in the
generally believed that the value OF the person.
atty, IN this State is as great as that OF the
Another striking illustration of tho point
under consideration, he says, is found in tho
nguros OF 107 estates takon Unfortunately
%troller's office. The showing is that where i07
estates had an assessed taxable value OF S3,47l,-
sol, 5 SRs "PPRBs e tSSaS Ss'% Ts, az death oi ,bc was ,s SSiS.'
during the life Of their owners, aggregated only
1 4,lo per cent. Of tho amount reported by the
The COMPTROLLER reports that the list Of taxa
bic corporations was increased last year. not
were dissolved and others sold out under fore.
closure because of the late business depression;
IN 1897 While 4,aoi pale paid Is ;i isS' Sio ~ n dn a&hss
tne year preceding. While tho results so far
noted are a source Of satisfaction, he says,
there, are aspects of the corporation tax
question open to serious criticism because
OF unjust determinations a g,inst corporations
real estate. Under the laws, as at present con-
strued. there is q. decided advantage to foreign
Incorporating a company with SIS. 900 under the
avs OF another State, paying in u so-called sur
Working paoSi IN i espit"i Of So the s eorpofatio eo tn $500. o eSe
or more, would practically escape the operations
The taxation of foreign corporations, he says.
IS difficult problem TO solve, but Ia the opinion
OF the Comptroller IL seems as though the proper
way y hCCOtnpllbn inc ueblr0u result Ii 10 cease
trying to tax the capital stock created by tho
laws OF another state and to assess an annual
tax upon the right to do business in New York
such. a portion Of the foreign corporations nu-
thoriZed capital stock as its tangible assets in
New York State bear to its entire tangible a.
sets, and using the same excess dividend meas
ures as arc used for domestic corporations.
For the fiscal year ending Sept. 30, 1897. there
was collected under tho taxable transfer acts
the net sum OF 81. 2 9.9i1, an increase Of $685..
$50 over the preceding year. The number of
estates paying taxes was 1855 as against 1924
during the yoar ending Sept. 80, 1896. The
total tax paid In 1897 was 81, 7O.611, OF which
$l,227 ,016 was collected on 8 por cent. lax, and
S9il.ll9 succession. or l per cent. tax, the
latter a tax on personal property alone.
The Comptroller suggests several amend
ments to the Transfer Tax law, ono of which
will make certain the non-eXemption from the
tax of United States bonds.
Tho balance In tho State Treasury on Oct. J.,
1896. was 81, $50. GAG. and tho rcceipts during
the last fiscal year amounted to 49,, 81 ,112.
The payments aggregated $50, 1854 ,254. leaving
q balance In the Treasury on sept. 80 last OF
$7.243,90 The capital of the several trust
funds belonging to the State aggregates 49,
S11 .026.
The Comptroller calls the attention Of the
Legislature to the largo sums expended each
year in identifying department reports. with il
Illustrations and maps, and suggests that each
department should pay for such work out OF Its
individual annual appropriation. The Legisla-
ture may not DO aware, says tho Comptroller.
that one report for the year 1895 is billed at
$42,0o0: others come as high as $4,000 and
$50, 900.