Norwich bulletin., 1915-01-07

tax during the last biennial period have fallen off to an alarming degree, due primarily to the altogether too liberal provisions of rates and exemp- tions as enacted by the last General Assembly. Reasonable and proper changes can and should be made to re- store the revenue to compare to that of 1911 and 1912.
 In order that this law may be ad~ ministered in a business-like and uni form manner, it is desirable that all valuation of shares of stock and choses in action beTonging to the es- tates of decedents be placed under the Jurisdiction of one state official, nat urally the Tax Commissioner.
 There are in the State one hundred and thirteen probate courts which have Jurisdiction relative to inheri- tance tax appraisals. 1t is natural that with them suggestions as to valua- tioHs of shares of stock, etc, of close corporations should be accepted from those intimately interested. While the State Treasurer has the power to re- quire new appraisal, the results 70 the State cannot be so satisfactory under such a system as under one which requires all the appraiSals of intangible property to be made by one state official. This method has worked satisfactorily. in Massachusetts, New York, and several other states.
 l recommend that the Tax Comnis- S4OIISL Oo IEQulIeu to value all lIl- tangible property of estates of deced- ents which are subject to an inherit ance tax i'll this State Such a pro- cedure would be a desirable relief to the judges of our probate courts, and would insure uniformity of valuations. and result in valuable cumulative in formation and a substantially in- creased revenue to the State from this source.
 State Revenue.
 Since 1908, during a period of six years, there has been an increase of over ten million dollars, or 1899 per cent in the net indebtedness of the State There has been an increase of over six million dollars. or 124 per cent since 1912. A continuation of this procedure should be considered by the representatives of the State as penditUres of the different depart ments must be radically curtailed, or tine income of the State must be large ly supplemented.
 Assuming that many desirable econ pn1ies in the expenditures can and will be made nevertheless even the req sona'bie demands on the State treasury make an increase in our annual in come seem absolutely essential.
 While this can be accomplished by a larger State tax, it is not fair to the small property owner on whom this burden falls most heavily to make a considerable increase in this particu- lar when there are means and sources of income in the State which are not contributing in proportion to their ability, as based upon the value of the property as well as upon the revenue derived therefrom.
 I recommend the consideration of and action on the following statement in the Tax Commissioners report of 1914:
 '4rhe Imposition of an annual fran chise tax on all general corporations organized in the State, and a similar tax on foreign corporations doing bus- ines in the State: an annual franchise tax on all nrivate water and power companies a moderate annual fran chise tax on all gas and electric com panles adequate taxation of the States oyster franchises a, reduction of the exemptions in the inheritance tax law and an increase in the rates, particu- iarly in property passing to collaterals and strangers; stringent penalty to compel the listing for taxation of chooses in actions the repeal of the