The Montgomery advertiser., 1907-03-26
REVIEW OF NEWLAW
REVENUE ENACTMENT IN PAMPH-
 LET FORM.
State Auditor Brandon Prepares syn- opsis and Sends it to County Tax and License officials
 over the State.

The new revenue laws of the Leg islature have been issued in pamph- let form by State Auditor William W. Brandon.
 The pamphlet show the re-enact- ment of the mortgage tax of fifteen cents on each s1o0 on instruments of this character filed for record. This now reads that mo mortgage, deed of trust, contract or conditional sale, or other instrument of like character shall be received for record unless the privilege tax is paid" This also ap> plies to the renewal of mortgages or contracts. filed for record. Of this fifteen cents privilege tax the State gets ten cents on each $100. and the county in which the instrument is recorded gets five cents on each $io0.
 This pamphlet also contains the law regulating the assessment of banks and bank stock.
 Every share of bank Is assessed and collected in the county where the bank is located, and is to be assessed at it's market value and from the value of these shares Is to bededucted the values of the real estate of the bank upon which 1t pays tax. It also regulates the manner of arriving at the value of the shares of stock.
 The shares of corporations are as- sessed and the law prescribes the mode of arriving at some. The corporation would not be liable for the tax pro- vided for in the manner If they pay the tax on franchises or intangible property as provided for by the act passed on this subject.
 There is also tax on the gross amount of auction sales; on commis- sions of any manufacturer. broker. commission merchant or auctioneer; on gross incomes of all gas works, wa- terworks, electric light companies. telephone companies, street railways, toll bridges and ferries, provided they do not pay such tax on franchises or intangible property.
 The law shows the following privi- lege taxes which are either new sub ject of license or on which the old section under which the tax was paid has been amended: Cigar and tobacco dealers In towns and cities of 10000 in- habitanta or more. $10; in towns of less than 10000, $5; provided that such deal- CTS who carry an average stock of less than 500 cigars or less than forty pounds of tobacco pay license of $i.
 Dealers in futures in cities and towns of 10000 inhabitants or more, s5,000; In towns of from 10000 to 10000 in- hRbitants, $4,000; in towns of 5000 to 10000 inhabitants, $2.50O. and in towns of 2,500 to 5000 inhabitants, $2,000. In other towns the tax will be s1,000 But it does not 1egalize any contract which would otherwise be invalid.
 For dealers in horses and mules, $20 will be the tax for each county in which they do business. Slot machines shall be taxed $10; money lenders. $1oO; agents for sewing machines, stoves, ranges, lightning rods, buggies or oth- CT vehicles, s25 in each county In which they sell or deliver such articles, and for each team or wagon used in dis playing or delivering the same an ad- ditionaI sum of $10 in each county. Each person. firm or corporation en- gagged in the business of selling pianos and organs will be assessed $10o. Soda water fountains must pay $5.
 Keeping for hire or rent automobiles in cities and towns of more than 30,000 inhabitants. the tax is $50 Of more than 15,000 and less than S0.oo0, $35, and in other towns and cities. $25. Rottlers in towns and cities Of not more than 5000 inhabitants or within four miles thereof, $25. In towns of 5000 inhabitants and not exceeding 10000, or within four miles thereof. $50, and in towns or cities of more than 25,000 or within four miles thereof. $1O0 Every warehouse storing not more than 10000 bales in any one year must nay s25; any warehouse storing not more than GV,VOV OoACS1 "SN' OAJ house storing not more than 30.O0O bales, $75; more than 30,000 bales. $10O
 For each compressor compressing not more than 5000 bales, $50; for each compressing more than 50.00O bales $100; fertilizer factories, $200; fertili- ger mixing plants. $1o.
 Any person, firm or corporation op- eratinR any cotton seed oil mill, cotton mill or cotton factory. shall pay an an nual license fee of $1O, where the in- vestement for plant and fixtures Is less than $2o, 900; on plants where the investment Is over $20,000, and less than $50,000 S30; on plants where the investment is over $50,00O and under $10O, 900. $50; on plants where the in- vestment Is over $100,000 and under | S5O0, 900, S100; on plants over $5o0,00C and under s1.0O0,000. s150; on eacf plant where the investment Is over $1,- | 900 ,00O, $2O0.
 This pamphlet also contains the law creating the State Tax Commission. In the letter to probate judges, ta1 collectors, tax assessors and tax com | missioners who are, in part, charged | with the execution of the law, State Auditor Brandon says: l ,'Upon your knowledge of the law, ant | the diligence of the offices In the ex | ecution of the law the State must de pend for it's revenue and support; | respectfully ask your hearty cooper ation in the fair and just execution oi these laws. for upon you this depart
 ment must in a large measure de- pend" -',