Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1907-04-11
DEPOSITS AT INTEREST.
Circular Sent IL Listers by Commis-
sioner Cushman.

j. f. Cushman commissioner of State
taxes. has sent to every lister in the State
a copy of number II of the acts of 1906
entitled AN net to Assess state Tax
on Interest Bearing Deposits in Ma
tional Banks" together with a circular
containing summary Of the provisions
of the act; Il list Of national banks In the
state that have filed a stipulation agree
ing to pay the tax specified in sections 8,
H. IL and IA Of the act; and an extract
from the attorney generals opinion to
the effect that persons having deposits in
any of the banks named in the list, on
which they are allowed interest In excess
Of two per cent. per annum, are not re-
quircd to answer questions Is, 10 and 20 in
the tax inventory.
The synopsis of the act follows:
I. No deposit in national bank in this
state on April /, 1897, drawing interest al q
higher rate than per cent. per annum p
subject TO local taxation.
g. The law does not restrict the amount
of money which may be thus deposited in
national banks in this State, and be
exempted from local taxation.
! g. A deposit in a national bank in this
State on April 1, 1907, which draws no in
terest, or which draws interest at the rate
of two per cent or less per annum is sub
| iect to local taxation.
T. All deposits in national banks in
Vermont on which the depositor is to draw
| interest exceeding two per cent. per an
mum shall not be set In the grand list TO
such depostor. and are subject TO no tax
except the State tax imposed by said act.
| .. All eposils in national banks on
which the depositor Is to draw no inter
est, or on which he IS to draw interest at
the rate of two per cent. or less per an
mum, must he set in the grand list to such
oepositor and is subject to local taxa
| ton.
g The national banks named in the list
herewith submitted have elected to pay
the State taxes upon all deposits men
| toned in item one of this circular.
:. No depositor having a deposit in
any national bank named in said list on
which he IS to draw interest at the rate
! of upwards OF 20 per a1num can be com
PEELED to answer questions is, 10 and %
| in the tax inventory
S. A depositor having a deposit In any
national bank in this State not named in
said last named list on which he Is to dra "
interest at the rate Of upwards Of go per
annum. must on or before April 20 1907
on blanks to be- furnished upon applica
ton therefor by the depositor; and II
making this Inventory he must alsc
answer questions IS 10 and 20.
Q The board of listers must upon blank,
to be furnished an or before Nav 10 rn
port to this denartnen, the names anf
residences Of all de nosito rs ensveringou es
tons number IS. 10 and % together wit!
the name Of bank holding such deposits
and the amount Of each individual de
post
! Following is tho li.t 81 national, hanks
that have hlad stinuIations and n white,
certificates have bee, grained:
Allen National hank rai,. Haven. Bex
ter National bank Rutland CITY. Renniny
ton County National bank bennington
bradford National hank bradford. Gale
don,a National hank Darvire. Clemen'
National bank Rut,anc city. First Ma.
tional bank Of bennington Pennington
First National bank NJ Fnosburrh Fails