The Birmingham age-herald., 1907-03-16

real and personal property of the corpora ton is returned to the tax assessor for taxation, owned by such corporation, and the residue of value remaining after such deduction shall be the assessed value of the whole of such shares, and such residue divided by the whole num- Der of shales shall constitute the value of each share for taxation, and the corpor- ation shall pay for the shareholders the tax assessed against his shares and the amount so paid for any shareholder shall be a lien on any interest which such shareholder may have in any property owned by the corporation. If the aggre- gate value of the shares does not exceed the aggregate value of the real and per sonal property of the corporation as re- turned to the tax assessor for taxation. then no tax shall be demanded or col lected on the shares. Provided, that no other deduction shall be made from the aggregate amount or sum at which the real and personal property of the corpor- ation is returned to the tax assessor for taxation than Is herein specifically pro- vided for. It shall be no ground of objection to such assessment of shares that the same is entered upon the as- sessment books in the name of the cor poration. Provided, further in arriving at the value of the shares of stock of a corporation organized under the laws of Alabama for the purpose of conducting fire insurance business for assessment there shall be deducted from the value of such shares, in addition to the assessed values of its property, the amount of its bonds of the state of Alabama and of the United States held by such fire insurance corporation at the time of such assessment which was held during all the six months preceding such assessment Provided, further, that In the event of the passage of an act at this session of the legislature assessing the value of franchises or intangile property of cor porations bo shareholder of any corpora ton who shall pay such tax on fran chises or intangible property shall be liable for the taxes specified in this sub division.
 Sec. 4. That Section 1912 of the Code of Ala bama as amended by an Act entitled. An Act to further amend the revenue laws of the State of Alabama" approved March 4th 1901, be and the same is hereby amended so as to read as follows: That there shall also be assessed by the asses sors In each county for taxation the fol- lowing subjects at the following rates: l. On the gross amount of sales at auc- ton, made in or during the tax year pre- cedlng the assessment of goods, wares and merchandise owned by non-residents, each auctioneer shall be assessed and shall pay a tax of one-fourth of one per cent; and like tax on all sales made by him of property owned by citizens of this State, which have been imported into this State and sold at auction before the same has been assessed for taxes as other property; but on sales of goods. wares and merchandise and fruits, by cargo, the rate Of taxation shall be one e-eighth of one per cent ,. On the gross amount of commissions. or sums charged and re- ceived, during each tax year, by any fac tor, broker, commission merchant auc- tioneer or dealer in any other kind of property, in buying or selling or for any other act in the course of their business for commission or compensation, by bale, sack, package, article or otherwise and on the gross receipts during each tax yeap of all grain elevators, river land inss, wharves, wharf boats. stock yards, whether attached to livery stables or oth- crwise at the same rate that property is taxed but this shall not apply to banks and building and loan associations other- wise taxed. g. On the gross sincome of all gas works, water works, cleo trlc light companies telephone com panies, street railways. toll bridges and ferries, and also all canals, ditches, channels, passes, tram roads and poll roads used for transporting timber or other valuable commodities or commerce at the rate that property is taxed. Pro Vlded, that In the event of the passage of an Act at this session of the Legsa- ture assessing the value of franchises or intangible property of corporations no corporation which shall pay such tax on franchises or intangible property shall be liable for the taxes specified in this subdivision.
 Sec. ,. That Subdivision 15 of Section APP of the Code of 1896, as amended by an Act of the Legislature entitled, An Act to better provide for the revenue of the State" approved March f. 1903, be and the same is hereby amended so as to read as follows; Cigar and tobacco stands. 15 For each dealer in cigars and tobacco 1 in towns and cities of twenty thousand inhabitants or more. ten dollars; in towns or cities of less than twenty thousand inhabitants. five dollars provid- ed, that in cities or towns dealers whc carry an average stock of less than five hundred cigars or less than forty pounds of tobacco shall pay license ol one dollar
 Sec. 6. That Sub division 10 of Sec ton 4l22 of the Code of 1896, as amended by an Act of the Legislature entitled, An Act to better provide for the revenue oi the state," approved March 4th, 1903, be and the same is hereby amended so as tC read as follows: Futures, dealers in: 40 For each person, firm or corporation en- gagged in the business of buying and self Ing futures for speculation or on a com mission either for themselves or for other persons, and each place of business com monly known as cotton exchanges ol stock exchanges, and sometimes called
 "bucketshops," in towns or cities of twen.
 ty thousand inhabitants or more, five
 thousand dollars; in towns or cities of ter
 to twenty thousand inhabitants, foul thousand dollars; in towns or cities o1 five thousand inhabitants to ten thousand inhabitants, twenty-five hundred dollars in towns or cities of twenty-five hundred
 to five thousand inhabitants, two thou
 sand dollars; in towns or cities of twenty five hundred inhabitants or less, one thou
 sand dollars; but this act shall not bt
 held to legalize any contract which other
 wise would be invalid.
 l Sec 7 That Subdivision A of Sectior | APP of the Code of 1896. as amended by an Act of the Legislature entitled
 An Act to better provide for the revenue of the State," approved March 4th, 1903
 be and the same is hereby amended so a.
 to read as follows: Horse Dealers. A. Fo ! each person, firm or corporation engaged l in buying. selling or exchanging horses | mules, jacks or jlnnets, twenty dollars fol | each county.
 l Sec S. That Subdivision 54 of Sec | ton APP of the Code of 1896 as amend ed by an Act of the General Assembl,
 of Alabama, entitled, An Act to further
 amend the revenue laws of the Stat,
 of Alabama" approved March 9th, 1901 be and the same is hereby amended so a!
 to read as follows: Machines, slots. 54
 For each machine, such as nickel-in-the | slot, or other device of like character whether the same is charged for or not ten dollars. This shall apply to phono graphs, weighing machines, music boxes etc, having the nickel or penny-in-th -the-slo