The Green Forest tribune., 1911-12-22

"6. The assessed value of all real estate owned by company.
 "7 The value of all tangible per sonal property owned by the com pany and assessed under sections Is, IS, 19, 21 or 22.
 "The sum of items four and five, less the sum of items six and seven, shall be held to be the value of the intangible property of the corporation and shall be listed and assessed by the corporation as agent by share. | holders under the heading Intangible | Property"
 Section 31. The corporations re- quired to make the returns provided 1 for in section 30 of this act, shall list and assess their tangible property, real and personal on the proper form as prescribed by sections 16 IS, 19, 21 and 22 hereof. The return pre- scribed by section 30 is required in addition to the regular lists provided for by this act, and it's purposes is to secure the assessment of intangible property belonging to the corpora tion."
 "Section 32 Each of the state ments required by sections 16, IT, IS, 19, 20, 21, 22, 25. 27, 2S, 30, must be subscribed and sworn to by person making and filing same. Said oath shall be in the following form:
 "I,..........., do solemnly swear Ger affirm) that the list of property redered by me contains all of the personal property, which I am by law required to list for taxation for my self Cor as............); that each answer made by me In such state ment is in every respect true; that have valued each item in it's true and full value in money: that in fix ing value of said property I have not taken same at an amount below it's full and true value in money because of the fact that I was assessing said prorerty for taxation"
 "Section 39. Logs. lumber, cross ties, slaves, slave headings, fence posts telegraph and telephone posts, and ether similar products cut for sale shall be deemed to be manufac- tured articles or materials in process Of manufacture, as the case may be, in the hands of the person who cut and manufa ctured them for sale, and merchandise if they have passed into the hands of the person who bought them for the purpose of selling them, and whether they are the property ol I1aIl be listed and taxed in the county, town or district in which they may be located on February the 1st
 Section B. Whenever it shall be found by the assessor, the board of supervisors of assessments or the Ar kansas Tax Commission tat any per son who has made and filed a list or return as provided by this act has with intent to evade taxation wilfully omitted to list any item of property as required by this act. such item shall be listed against such person at its true and full value, and for failure to assess said item penalty equal to 50 per cent of the total taxes on the item for that year shall be as- sessed against it. Written and print. ed notice of such assessment and penalty shall be given the taxpayer and he may appear before the board of supervisors of assessments or the Arkansas Tax Commission, as the case may be, and show that the omis- sion was not done with the intent to defraud. If satisfactory showing is made the penalty shall be abated."
 This section is for the purpose of forcing corporations to render a cor rect statement of all the different items of their property and the value 0reof
 Section 56. Provides that if anyone is sick or absent from home, or if any other reasonable excuse is given why a taxpayers property was not by hirn listed as required, the penalty will be abated
 Section 120. Any provision in any mortgage, deed of trust or other simi- lar instrument whereby the mort gagor or obligor binds himself to pay any tax that may be assessed against the holder or owner of the note or other credit secured by such mort gage or deed of trust because of such note or credit shall be null and void and such provision shall not be en- forceable in any court of law or equity in this state"
 "Seetion 96. Persons aggrieved by the actions of the assessor in assess ing their property may appeal to the board of supervisors of assessments sitting as a board of equalization. From the final judgments of the board of supervisors sitting as a board of revision and repeals, appeal may be taken within 30 days to the circuit court of the county or to the Arkan- sas Tax Commission, first by a tax payer who is aggrieved because of the valuation of his property, second, by a taxpayer who is aggrieved because of the undervaluation of another tax payers property and third, by the school district, town or county af- fected by the state because of the failure of the board to properly fix the value of the property of any tax payer. From the final orders of the tax commission whether assessing property originally or sitting as state board of equalization appeal may be taken either by the taxpayer or by the school district, county. or town affected, or by the state, either to the circuit court of the county in i which the property affected or a part of it, it situated, or to the circuit court of the county in which the com mission sat when the final order ap- pealed from was made T