The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1913-09-26
Kansas Carriers Will Donate
$4,000 Fees Soon.
One-FOurth of Entire Corpora
ton Tax Amounts.
COLLECTIONS FIRST OF YEAR
Secretary of State Meets Prob
lens of New Law.
Estimate of Not Less Than
100000 in Kansas.

When the new state corporation tax
goes into effect the first of January
the railroads in Kansas will be called
upon to donate at least $4,000 toward
the deficit in the treasury caused by
the death of the inheritance tax. In
other words the state is figuring on
drawing from the carrier corporations
not less than one-fourth of the reve-
nue. anticipated under the law passed
by the legislature last winter
At that, the railroads have no cause
to complain. Several of the transport
tation companies in the state are
capitalized at n much higher figure
than the maximum amount stated in
the new law. In other words corpora
tions capitalized at $1,000, 000-the
largest Incorporated in the law-pay
a tax of $4,000. Railroads with
capital much larger than this will
have to pay no more than the $4,000.
The new tax will affect all of. the
twenty Kansas lines in a general way.
Branches and separately Incorporated
lines owned and operated by the
trunk roads will have to pay their tax
under the original incorporation, de-
spite the fact that the parent lines
contribute under the maximum effect
of the law. Charles Sessions. secre-
tary of state. figures that between
forty and fifty roads will be affected
under this clause.
''All railroad companies chartered
in this state whether they operate
their lines themselves or lease them to
other roads will be taxed-also all
railroads organized in other states but
having lines in this state,' is the way
Sessions maps out the policy of his
office in assessing the fees.
Foreign Corporations a Problem.
The foreign corporations present the
real problems to the state in prepar-
ing the records for use the first of the
year. 1t will be easy to handle the
do r,cyfiC
a different matter with the out of
state companies. The tax on foreign
firms is based, not only on the amount
of their capital used in the state but
also the amount of business transacted
here. 1t will be up to the office of the
secretary CT state to determine the
tax that will be placed on these indus
tries. 1t will take a student of sta
tistcS and accounts to base the states
claims to the shares of the fees.
1T is not likely that any of the
corporations will resist the law"
Charles Sessions said this afternoon.
'Most of the states in the Union have
such laws and practically all of them |
have been upheld by the courts. The |
policy of taxation of corporations is |
so thoroughly settled that L apprehend |
no trouble whatever in the admins |
tration of the new law" |
The law requires the following de- |
tails:
ID Name of corporation.
~ Location of principal office.
30 Names of president, secretary, treas
urer and members of board of directors |
with postoffice address of each.
90 Date of annual election of officers.
90 Amount of authorized capital stock |
and par value of each share
go Amount of capital stock issued and
amount paid up.
CD Nature and kind of business and its
place or places of business both within
and without the state of Kansas.
(O Name and location of offices in Kan
sas and offices or agents in charge and
address.
90 Value of property owned and used
by company in Kansas, where situated.
and value of property owned and used
outside of the state and where situated.
Q0) Statement of assets and liabilities
of the corporation.
Old Change or changes. if any. in above
maze since last annual report.
SO upon a stock of $4,000 to So 800 upon a
capital of 5000. 600. The law goes into
effect and collection will be made the first
of January.