The Bennington evening banner. (Bennington, Vt.) 19??-1961, 1911-01-24
TAXING iNrANoleLes
Principal Features of Bill introduced
BY Senator Gordon

udli udNlN Dttu uIdAAcu w LA OOAu-
missioner Cushman:-
Section l. Personal estate enumer-
ated in this section shall in the man
ner provided in section five hundred
ten of the public statutes be annually
set in the abstract of individual lists
and the grand list in separate col
umns set apart therefor TO the owner
thereof on the first day of April at
one per cent of its appraised valua-
ton; shall be subject to an annual
tax of seventy cents on the dollar OF
such grand list; and shall be classi-
fed as follows:
/. Money on hand.
2. Money in the hands of another
3. Money ON deposit in banks To-
Gated without this state.
4. Money on deposit in banks To-
Gated in this state.
5. Money loaned at interest or
otherwise to person, copartnershlp
or corporation within or without this
state.
6. Money otherwise invested, de-
posted or held to the use of the tax
payer.
7. Money due or to become due on
book accounts or oral or written con-
tracts.
8. Money due or to become due on
checks, drafts, certificates of deposit,
orders for the payment of money,
money orders, due bills or other evil
dences of indebtedness of whatever
name or nature, whether the same be
4 n a0AfiQ hIa Or mr. rn0Otfn hIn
! 8. Promisory notes whether nego-
table or otherwise.
10. Bonds, notes or other similar
obligations in writing issued or Civ
en- by any private corporation, associ-
alton or other body organized or ex-
listing under the laws of this state or
any other state or government.
II. Bonds, notes and securities is
sued or given by any state, govern
ment, town, city, village, school or
fire district, or any other municipal
division, United States gov
lernment bonds and such other bonds
notes and securities as are by the
laws of this state exempt from taxa
ltion.
II. All other moneyed securities OF
whatever name or nature.
10. Shares of stock in national
bank located within this state.
IA. Shares of stock in trust com
panies, and savings banks and trust
companies, organized under the laws
of this state.
IS. Shares of stock In a corpora
ton organized under the laws of this
state, other than railroad, steamboat
car, transportation, telephone, tele
graph, insurance, surety, guaranty OF
express companies.
16. Shares of stock in a corpora
ton, or joint stock company organic
ed under the laws of another state OF
government, unless all of the stock
taxed therein to the holder thereof
whether residing within or without
such state or government; or the cor
poration or company is taxed there
in for all its stock.
Sec. 2. Nothing contained in the
preceding section shall be construed
to include money deposited in savings
banks, savings Institutions, trus
companies, or savings bank and trus
companies, located with this state OF
account of which such banks pay {
tax to the state; nor TO include mon
ey deposited at interest In nationa
banks In this state whereon the rate
of interest exceeds two per cent pc
annum, upon which a tax is required
TO be paid to the state under the pro
visions OF chapter thirty-seyen OF thu
public statutes; nor TO include an.
: of the various kinds Of personal pre-
lperty hereinbefore enumerated hell
by or belonging TO corporations, assc
Citations or persons otherwise exempt
| ed from taxation; nor TO include an
paxt OF the grand list OF a town o
pekon made up OF one per cent 0
assessments made under the proyis
ions of section FIVE hundred sixty-on
J OF the public statutes as amended b
an act emitted AN act TO amend SEE
ton SOL and to repeal section 500 Q
=, the public statutes relating to tn
grand list" approved January 20, 1911
Sec. 3. Section 500 Is hereb
amended so as TO read as follows
Sec. 500. In appraising shares 9
stock in a national bank or a corpol
alton, the value OF all its real an
personal estate taxed TO said corpor'
ton In this state or elsewhere sha
be deducted from the total appraise
value of al It's shares OF stock an
the remaining value only shall be al
portioned among its shares to asce
, tain the appraised value thereof.
Bin provides unifom rate OF SCI
en-tenths OF one per cent on intang
bles. Some OF the benefits OF the bi
1 are to uncover large amount
. notes, moneys. and securities tina
now 20 untaxed. The bill accomplis
I es uniformity on intangibles and give
. an Individual n chance to loan hi
/: money In the state instead OF inves
4 ing elsewhere. Rural communitie
! as well as industrial centers need IN
4 individual loans. Eject OF being
I abolish present state and highwa
4 tax and substitute the proceeds co
4 lected under the blll.-eight thi
4 teenths to school, Ave thirteenths I
highways. No Offsets are allowed o
4 lntangibles more than on money d.
n posted In savings banks. This Ia
4 meets two demands:
1st.-By eliminating all necessil
s OF equalization In the appraisal
I property among the different towns
2nd.--ln reducing the evil effects