The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1915-03-04

Il ~ NNN'N W. ~
which are by laws al the time this act
takes effect subject to taxation there
in upon their moneys and credits, are
hereby declared TO be and 10 consti-
tute a distinct and separate class OF
property for the purpose OF taxation,
and subject 10 taxation by the state
alone, and shall not be liable to taxa
ton By or for the purpose OF any
county. city. town. village. school dis
trict, or other subdivision OF the
state.
Sec. 2. There shall be levied n
nually upon all such intangible per-
sona1 property. moneys and credits,
a tax Of one-fourth of n per centum
upon the actual or full ash value
thereof, which tax shall be collected
and paid ovcr 20 the state treasurer
by the several county treasurers az
the time and In the manner OF col-
iecting and paying over other state
taxes and the proceeds thereof shall
be used for general state purposes.
Sec. 4. Every inhabitant OF this
state who is the owner OF any intan-
gibie personal property, moneys or
credits, shall on or before tho irf
day OF March OF each year. make out
and deliver TO the county assessor OF
the county In which he or h resides.
or II a corporation. joint stock com
pany. association or Arm. In which
the principal Office OF principal place
OF business h located, n statement
upon the form prescribed by the state
tax commission. containing "a list. IN
detail .. owing the date. amount and
time OF payment. but not the name OF
the debtors. o. each bond. note, cer-
tincate or other evidence OF debt, for
one hundred dollars OF more, pay
able or owing to such tax payer, the
aggregate amount OF all such bonds,
notes, certificates or evidences Of debt
under one hundred dollars each, all
shares. certificates OF stock OF interest
subject TO tax hereunder. and all
moneys and credits OF such tax payer.
wherever kept or deposited, and stat
ing the value OF each item thereof.
Such statement shall be subscribed
and sworn 20 before the assessor or
his deputy, or some person authoriz-
ed 60 administer oaths. who shan cer-
tifv that such list was signed n
sworn Il before him. The iitahsiple
personal property. moneys or credits
OF minors shall be listed by their
father, mother, guardian or person or
bank having the property In chafse'
Of a married woman by herself or aer
husband: Of a beneficiary for whom
the same il held In trust; by the
trustee. Of estates, Oy the executor OF
administrator; of a corporation Joint
stock company or association or arm
by the principal accounting ofheer'
agent or partner; Of persons absent
from the state or incapable Of maklng
such lists. by their agents.
Each tax payer shall be entitled TO
deduct from the total amount ana
value OF such intangible personal
property. moneys and credits the ag-
~gregate amount of the legal. bona
Rde debts owed by such tax payer
but in making up the sum OF such
debts. the tax payer shall not include
any Obligation 10 "A mutual insurance
company, nor any unpaid suoscrip-
s ton, nor any Acknowledgement OF In
d-ebtedness, unless founded upon ade-
I ouate consideration actually received
+ nor any contingent obligation as sur
cty.
Pensions receivable from the Unit
ed states, wages. or salaries due and
unpaid. and any amounts or beneht
due or accruiug under any life IN
%surance policy shall not be subject To
. taxation. and no taxpayer shall be re-
/ uuircd To take into account In making
, up such statement. a greater proper
ton of any credits than he believes 10
be collectible.
INTANGIBLE personal property, mon
: cys and credits belonging to II nank'
A Ing institution, or trust company o'
hithIs state, whose capital stock OF
capital surplus and undivided profits
iarc otherwise taxed for state ant
county purposes. shall not be subjec'
% to taxation hereunder.
. owners Of intangible personal prop
& erty. moneys and credits shall be en-
titled to an exemption from taxation
Of one hundred dollars thereon, hnt
no person owning less than one nun
dred dollars worth of such inthn'
= piblc personal property, moneys ant
. credits shall be obliged Ia make oil
I deliver the statement provided fol
y by this act.
@ sec. &. II shall be the duty of eacf
e county assessor. from such statemen
or such other information as he MAJ
be able To procure. to determine ant
e enter upon the assessment roll Of tins
& propcr county, the aggregate tul
value OF the Intangible personal prop
crty. moneys and credits b%elonsing Il
each tax payer. and to compute ap'
enter thereon the amount Of tax dn'
from each, al the rate h~ereinpefor'
liked.
70 Sec. 6. Any person who shal
knowingly make any false or incom
e pletc statement or list OF intangibl
l. personal property, moneys or credits
0 under the provisions OF this act Sha'
y bee deemed guilty Of perjury and up
on conviction thereof shall be pun
e ished ~ provided by law for PUNISH
= ment In other cases Of perjury
Any person, firm, corporation joln
stock company or association, shpJe'