The Montgomery advertiser., 1907-04-05

(. 1903. by increasing the amount or the license tax fixed by the aot the amour. lid shalf be allowed as credit on the new. or increased, license | required by the present law for the | current year. amount of license taxes are not retro active and in the absence of any
 legislative expression where a license
 has been taken out and paid for, and subsequently the license tax has been
 increased, the increased license cannot be exacted of the licensee, hut sec
 tions 5. 6, ', g. 10, Is and IS of the
 act of March {. 1907, purport to amend subdivisions of section 4I22 of the code | as amended by the act of March 4, 1903, and such amended subdivisions must, | therefore. be read into the act of March 4. 1903. and when so read and consid cred. the license taxes therein pro- vided wherever increased become sub ject to the provision contained in that act, and winch have quoted above. Tn some instances the present reve-
 nue law requires a license tax to be paid for gazing in a business not heretofore subject to that tax, and in all such cases such license tax is due
 and payable by any person, firm or corporation engaged In such business after the approval of the act, March ', 1907.
 Where licenses have been taken out and paid for under the old law. and such licenses have been increased un- der the present law a hardship may re- | suit on account of a change of the law, to some of the businesses affected, par ticularly, that of dealers in futures. TT !, license has been increased from | the maximum amount of $500 to $5,- | 900. No doubt contracts have been made in connection with that business and large liabilities incurred which would | make 1t ineauitable to require such
 persons to cease business In case this
 license Is not paid, and under such con
 diuons I suggest that the question be pres tied to the State board of com
 promise for such consideration as may seem just under the circumstances.
 I'll. 611. This act contains the fol lowing provision: No corporation re- auired by the provisions of this act to pay a franchise tax. which corpora tion shall have paid license taxes for this current year, as provided by the corporation laws now in force in this State. snail be required to pay a fran chise tax under this act before the first day ~I January, 1908
 You will. therefore, observe that the provisions of this act do not apply to those foreign corporations which had paid franchise tax for the cur rent year under the laws in force on March '. 1907. But as to all foreign corporations admitted to do business in this State after March '. 1907. the act applies. and such corporations must pay the franchise taxes required there in and otherwise comply with its pro- visions.
 House SIP. The latter part of this act, beginning with the words: After the auditor shall have charged the col lectors with all poll taxes collected by him and checked the same by the said stub he shall return said stub back to the judge of probate of said coun- ty in which said poll taxes were col lected for record and filed in his of flee.
 There is nothing in the act fixing the time when 1t shall go into effect. It Is remedial in its nature and, there- fore. the general rule applies and 1t became operative from the date of its approval by the governor.
 Wherever 1t is practicable to apply the new feature of this statute during this year the tax collector should do so. In other words the statute is in force and imposes upon the tax collec- tor the duty of complying with the same where he has not acted under the law as lL eXlSteQ Detore Marcn 4. 1907
 HI. 614. This act expressly makes the property therein described sub ject to taxation for the year 1907. The tax year of 1907 runs from October 1, 1906. to September 30, 1907. All prop erty of that description should be as- sessed and the taxes collected there on when due, viz: October 1, 1907. (This act makes subject to taxation in this State money lent, solvent credits and credits of value and moneyed capi- tab
 III. 615. As stated before. this act was approved March [, 1907. There is nothing in the act limiting the time when 1t shall become operative. The concluding paragraph of section 1921. as amended by this act is as follows:
 Provided that all foreign corporations which have heretofore bona fide quail fled under prior existing laws, shall receive a credit for the amount so paid by them on any amount falling due by the provisions of this act.
 Tt thus appears that 1t was the in- tention of this act that the same should apply to all foreign corporations now
 engaged In doing business in this
 State and the admission fees therein
 exacted should be paid by such foreign
 corporations, a credit being allowed for
 the amount heretofore paid by them"
 This is the law requiring a graduated
 tax on the capital stock of all foreign
 corporations entering State.