The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1898-12-18
TAXING coRpoRArross

lAAiNu CONSIDERATIONS.
The laws of our State tax co,p.,.ll
in different ways. Railroads par h,
gross passenger earnings; insurance !.
panies pay a tax on premiums car n
telegraph companies are taxed On d. !,
sage sent, and telephone compaoj.
taxed on the number Of telephone, !, ,
and all are taxed upon their real ,ps ,
sonal property. But the tax which tb, 4
to the State, outside Of the I'D ya|o,er \
is, by all corporations, Compares
small. II the revenue laws ana IA ~
substantially as they now are ~
should be at least made 50 as % tn =
graph and telephone companies d h
gross receipts instead Of per meaah .
telephones in use.
But when compared to other Stra
kinds OF corporations in Texs, nav n
portion Of what they should b M
| to pay in the form Of taxes, Tnm
creatures of the State, and are = =
to be accountable for their tuu r,r.|
stock.
Ii the corporations doing busnssJ
Texas and subject to taxation ycs
quired by law to pay taxes o. tlsiI
value of their stock, as theN are nqvi1
to do in some other States, nctshy
Pennsylvania, whether chartered hy d
State or any other State or nation, iuil
ing National banks, there would n q
an increase OF taxable values Y n
make the rate OF taxation 50 low u Al
almost unnoticeable.
In the State mentioned above wp(
atoms pay four and five mills o. Ii, a
on the par value OF their capltl N
and National banks pay eight NH
the dollar. With OUT economical u
government it would not require y Y
a rate to supply ample funds 70 rAe
expenses. In fact, with the changes Y
suggested in this report, the amoux n
would be needed for State purposes n
be greatly diminished.
Under the amended law permitting
formation of mercantile corporaticn
class of corporations will 5000
creased TO large number In this y
The Involvement OF limited Liabilities
such like benefits will attract the xsea1
of the mercantile community, aud Il
In many such corporations being tas
These and all Others should be nIed Y
upon the par value Of their stool.
The present law regulating doms1'
porations is almost disregarded. fhel
! required to pay franchise tax, Vnsa !!
all do the yeLAr they are incorporslsa
most of them lapse and neglect hl q
fuse to pay it thereafter. NO ppss1
seems to have been MADE to enioF@
payment of this tax beyond ne -,
forfeiture OF charter. Out OF ASa ~
| grants to domestic corporatione, ~
are i'm good standing, the oiaes, y
bering 1856, having been forlellea y.
| of the non-payment Of their frsncas
| And yet most OF these corporaho1,
of them at least. as | have ouse'et
| tinue to do business as corpo's.'.s n
sue and are sued IN the courts WIZ VIII h
charter rights ever being ques'io1- !.
law ought to be amended SO q MI
! the secretary of state 10 iulussa .,. n
all corporations to the state 80 ~. "a
and make 1t his duty to see tnil n
every corporation owing o ia.s \
| pays 1t, and the State revenue IN Il.
collecting it, shall pay IL owe
rotary of state. and by the iA,', :, ~
| into the treasury as provided ~ .ss
revenues of the State couIa; ~ s.ns1
be Increased under existing -"
like $50, 900 per arlnum. ,., ,a}a
"Ouasi-public corporations, IA n
the right of eminent domain su s,sll
ouired TO pay tax upoa the n J, n i
should be taxed. They are ssrars
properly. The property wa,u' ,ay 81
mortgage should be slIo>ec ~ hsiss1
en- such mortgage. 1t has osss ~
int,mated recently that 1a,s;,n,s
edness. outstanding stock, ea s,s,. j l
het. erments made s62 900 per ~.
wav mot beyond the fair VI n !
n msy WI n the commerce q
ard the products OF me =" onnrtstiop y
tax in the shlpe OF tNli.' v,lnslIca !
| to psy interest on suol st,,k sSsl1l
mar value of the bonds anu s sl .
taxed. They represent Nav III!
SITE. They may be held u ~, nsI ttss
Emrone hut they are not taa ,aasn
repent OF the taxing eon asa lmneas !
York clearly indicate tne ssd ~
r ,U,M by such bonds N Sss srs1
| mat State pay no tax tns,e. nropet. !
OF Inc property, and tn ~. frljvsst
which make such securities ss,ssaaeptf
M snns i, I'm in TEXAS, and conss sss,lsl,
s saga IS a a. subject for Tss 7. \ nisisis
exnectation OF the paymess,, ts--sss,s,
pr.ncJpsl upon this pra ss.hiy b. ~
bondsTls and must lnesilastss pr''
from the original value q ,s ~ ~
| this State which are M. y a
property represented. Of Ms tssss y
me cost 10 the people q NJ y
rne o uus imported over us, Y
| then. gives value ana pcsrrlble : Il
property. il should be a s1s & ~
for TAXATION, and Shout ~ u q /
,'Svs,csI nnoperty being Law
fer the payment OF tne ao m ~,
From q trustworthy se 's,les .of K
| 1896 there we're 9i0b.5l m Il So
a Tsv.s rendered for tases ,,svs q
| The stock and bond oo' ~ rod IN Y.
ing against these miles yrouats ~
10 the same authority ,s.x r
Tep ESQ. IPiHe ala apsssw ~
census. gives Texas