apace pesees erties ye rola gencere ae. eats pete ipsa cant eof eee Morar tt te pe aoe fers: pag irteot a riae aeee eit PSS SERED eS PoeONN 1 aeS Sta Sea aes Bese Ss iogt eae ere T Taree pee eet He tet Teg pee ES Sl et re eee teddies = ies ae - tee Siete besoaeGeeie beets oo Beta ; : : fe Pt thts zt . * > S : - a tae oars bets eee . . eee 5 : fessor Oe é ; : * eet Ln Se bats " , ~ ; aot nek eet Sadie ears eerie ee eee aaa serarape rn oie oe Reacts st eaetaeg sear eetess Sees eer ae oe ie ae si ea . : : ; : : oe “) ~ . pores. Seat OSA ae eee fi if erie fa SLD Sesiaanienrs ees Pt = aeersess prt th iat rd, De Moe wf if f petits bres Wi f _# OG A HOE tra LY Dp >. a Batre 5 OH He: s, “+ Gries Pees or SC teepess A EP) ih f BIO aa SS wre eee Bors Ores Se Oey oreat Crete aL tees Pt eo, PUREERE OO Gorvell Law School Library Cornell University Library KF 6465.Z95D49 remind NTT 3 1924 020 021 964 ian 9 CORPORATION ALMANAC DAILY REMINDER GIVING IN CHRONOLOGICAL ORDER ALL DATES WHEN REPORTS MUST BE MADE, TAXES PAID OR OTHER PRESCRIBED ACTION TAKEN BY CORPORATIONS UNDER THE LAWS OF DELAWARE, MAINE, MASSACHUSETTS, NEW JERSEY, NEW YORK, PENNSYLVANIA AND THE FED- ERAL LAWS, TOGETHER WITH THE TEXT OF THESE LAWS, FORMS OF REPORTS AND NOTES ON THEIR PREPARA- TION. By WILLIAM B. DEVOE OF THE NEW YORK BAR New York: ky BAKER, VOORHIS AND CO. we 1919. Copyrictt, 1919 By WILLIAM B. DEVOE PREFACE Governmental supervision and regulation of corpo- rations is daily increasing in extent and complexity, with a corresponding increase in the requirements which corporations must observe in order to remain in good standing with the various federal and state au- thorities. These requirements consist chiefly in the making and filing of numerous reports and certificates with different governmental departments, and failure to observe statutory provisions in respect to such re- ports may entail severe penalties. Considerable un- certainty and confusion exists among corporations (and to some extent among lawyers also) as to the precise scope of corporate obligations in this direction, with the result that in many instances penalties have been imposed which an adequate knowledge of the subject would have averted. It is the purpose of this book to tell when, where and how these various reports and certificates should be pre- pared and filed, and to give some idea of the different systems of state taxation so far as these apply to cor- porations. Since it would make the book inconveni- ently bulky and expensive to include in it the require- ments of every state in the Union, and since the majority of corporations are formed under the laws of either New York, New Jersey, Maine, Delaware, Penn- sylvania or Massachusetts, these are the only states dealt with. The duties imposed on corporations by the federal laws are also set forth. It is the author’s hope that the book may be found (111) iv PREFACE. ' sufficiently thorough and workmanlike to be of service to the legal profession, and at the same time simple and non-technical enough to serve as a useful guide to corporations which prepare and file their reports with- out the aid of counsel. The author is indebted for much assistance and many courtesies shown him in the preparation of the work by the respective Secretaries of State and Commis- sioners of Banking and Insurance of the states dealt with, and in particular to the various state tax depart- ments whose officials have been good enough to exam- ine and revise the sections dealing with the different systems of state taxation. Thanks are also due to Mr. Frank M. Eastman of Harrisburg, Pa., for permit- ting the insertion of extracts from his well-known work on Pennsylvania Corporations. To all of these gentle- men grateful acknowledgment is made. : May 15, 1919. WILLIAM B. DEVOE, 15 Park Row, New York City INTRODUCTORY NOTE. Important.—This book does not include the require- ments of law peculiar to public service corporations (i. e., transportation and transmission corporations, light, water, heat and power companies), charitable and educational organizations, membership corpora- tions (clubs, ete.), and brewing and distilling com- panies. All other classes of corporations are dealt with. In the entries relating to state laws the term “* domestic corporation ’’ means a corporation organ- ized under the laws of the particular state then under discussion, and ‘‘ foreign corporation ’’ means one organized under the laws of any other state or country. in entries relating to federal laws, ‘‘ domestic corpora- tion ’’ means a corporation organized under the laws of any state of the United States, and ‘‘ foreign corpo- ration ’’? means any other corporation. The citations of state laws include all amendments to the end of the various legislative sessions of 1918, and in addition the recently enacted New York Income Tax Law. Federal laws are corrected to January 1, 1919. ‘ (v) TABLE OF CONTENTS, PART I. PAGE PRETNED 30 8i8 GenGuk eee meu nme end aeas iii Introductory note ...... ccc eee eee cence eens ite v Chronological list of dates important to corporations.... 1-234 January ....... oC WE TBE Ras wa Pee Ses 1-56 February 2.0.0.0... ccc ce cece eeeees caplet eeae a 57-73 Maren aiciss id rilana siete tie tine odie wae Cau eaaeaene 73-100 ATU, ees: aie aieieragev anil din Seaton dean watered Ral ES eueles 101-117 May’ sp esatnaw a's dx elev oe Maene een aaeaee Bi aaa 118-132 JUNGr sosisins tes siege latte mea aheda se diag ee PEO ARERR SO EROS 133-150 DULY cdi talciesia's can siete oie peace OES ee ose Mars 151-172 AGUS Es Ay ative. ddsarageret tela, ase tad dle Sanco eo Rabe shale yale Lewes 173-181 September’ acevessersdei ee eerie deans ta wsaaan 182-194 October aices vseche sai daewaeneetnets Poni Rea tc: 195-207 November ........... We PhG Ys Bee eiaaa eae Wie betes pais 208-222 D@tem ber. wind iek woe ie Seen eae ehh tok eck aed 223-234 PART II. Corporate matters to be attended to annually, but not on specified dates ....... cece eee eee e eee e eens 235-254 PART III. Summaries of state systems of corporate taxation...... 255-287 DCA WATE feseccis ictus see ites o dew sean s Gs Se see Site BS NS 255-258 Maine ia declawed cette ehe aes MAE Mane eess 259-262 Massachisetes: oc. secs acca eed sus Gi eaeceser eletes ene otal ama 263-267 Neéw Jersey sisdsdee tees oc ine bevewwsersedetad sans 268-271 New Vork: 22¥i~ psaeawi cee deiue teee os inde Be 272-279 Pennsylvania jes cee edie es ee aad eur ae « 280-287 Vili TABLE OF CONTENTS. PART IV. PacE Forms of corporate reports............eeeeeececeecees 289-434 Suggestions for preparation of reports............. 289-291 When corporate existence begins...........-..20005 292-293 Notes on Federal income tax returns............... 294-360 Withholding tax by corporations.............. 294-299 Returns of information ..............0e eee eee 299-301 Income tax law and regulations relating to in- Come tax return ........ cee cece eee eee gece 301-360 EOYs tis ae das oe cg Sede app ore eas eee Sears eee aead Sandee 361-434 PART V. Directory of state and federal officials.................. 435-446. General ind6x ova sos dia de ees whetiwee Re ReReS 447 Index of forms... ccc cece cece cence eee n eee eneeeennes 473 PART | CHRONOLOGICAL LIST OF DATES IMPORTANT TO CORPORATIONS. JANUARY. | FEDERAL. January 1. Corporations engaged solely in export trade file statement with Federal Trade Commission (Act of Congress of April 10, 1918—the ‘‘Webb Act’’—See. 5) as follows: That every association now engaged solely in export trade, within sixty days after the passage of this Act, and every association entered into hereafter which engages solely in export trade, within thirty days after its creation, shall file with the Federal Trade Commission a verified written statement setting forth the location of its offices or places of business and the names and addresses of all its officers and of all its stockholders or mem- bers, and if a corporation, a copy.of its certificate or articles of incorporation and by-laws, and if unincorporated, a copy of its articles or contract of association, and on the first day of January of each year thereafter it shall make a like statement of the loca- tion of its offices or places of business and the names and addresses of all its officers and of all its stockholders or members and of all amendments to and changes in its articles or certificate of in- corporation or in its articles or contract of association. It shall also furnish to the commission such information as the commis- sion may require as to its organization, business, conduct, practices, management, and relation to other associations, corporations, part- . nerships, and individuals. Any association which shall fail so to do shall not have the benefit of the provisions of section two and 2 FEDERAL LAWS. section three of this Act, and it shall also forfeit to the United States the sum of $100 for each and every day of the continuance of such failure, which forfeiture shall be payable into the Treasury of the United States, and shall be recoverable in a civil suit in the name of the United States brought in the district where the association has its principal office, or in any district in which it shall do business. It shall be the duty of the various district attorneys, under the direction of the Attorney General of the United States, to prosecute for the recovery of the forfeiture. The costs and expenses of such prosecution shall be paid out of the appropriation for the expenses of the courts of the United States. January 1 to 10. National banks make return to Treasurer of United States of notes in circulation. (For text of law, see under next entry.) January 1 to 31. National banks pay tax on notes in circulation (U. 8. Rev. Stats., Sees. 5214 to 5216) as follows: Sec. 5214. In lieu of all existing taxes, every association shall pay to the Treasurer of the United States, in the months of January and July, a duty of one-half of one per centum each half-year upon the average amount of its notes in circulation, and a duty of one-quarter of one per centum each half-year upon the average amount of its deposits, and a duty of one-quarter of one per centum each half-year on the average amount of its capital stock, beyond the amount invested in United States bonds. National banking associations having circulating notes secured otherwise than by bonds of the United States, shall pay for the first three months a tax at the rate of three per centum per annum upon the average amount of such of their notes in circulation as. are based upon the deposit of such securities, and afterwards an additional tax rate of one-half of one per centum per annum for FEDERAL LAWS. 3 each month until a tax of six per centum per annum is reached, and thereafter such tax of six per centum per annum upon he average amount of such notes. Sec. 5215. In order to enable the Treasurer to assess the duties imposed by the preceding section, each association shall, within ten days from the first days of January and July of each year, make a return, under the oath of its president or cashier, to the Treasurer of the United States, in such form as the Treasurer may prescribe, of the average amount of its notes in circulation for the six months next preceding the most recent first-day of January or July. Every association which fails so to make such return shall be liable to a penalty of two hundred dollars, to be collected either out of the interest as it may become due such association on the bonds deposited with the Treasurer, or, at his option in the man- ner in which penalties are to be collected of other corporations under the laws of the United States. Sec. 5216. Whenever any association fails to make the half-yearly return required by the preceding section, the duties to be paid by such association shall be assessed upon the amount of notes delivered to such association by the Comptroller of the Currency. f January 1 to 31. National banks must hold annual election of direc- tors during this period (U. 8. Rev. Stats., Sec. 5145) as follows: 4 The affairs of each association shall be managed by not less than five directors, who shall be elected by the shareholders at a meeting to be held at any time before the association is authorized by the Comptroller of the Currency to commence the business of banking; and afterward at meetings to be held on such day in January of each year as is specified therefor in the articles of association. The directors shall hold office for one year, and until their successors are elected and have qualified. 4 FEDERAL LAWS. 10th day of each month. Corporations dealing in leaf tobacco report to Col- lector of Internal Revenue purchases, receipts, sales and shipments (U. 8. Rev. Stats., Sec. 3360b) as fol- lows: Every dealer in leaf tobacco on or before the tenth day of each month, shall furnish to the collector of the district a true and complete report of all purchases, receipts, sales and shipments of leaf tobacco made by him during the month next preceding, which report shall be verified and rendered in such form as the Commis- sioner, with the approval of the Secretary, shall prescribe. 10th day of each month. On or before this date manufacturers and importers of playing cards make return covering business of preceding month. Return is to be made to Collector of Internal Revenue in duplicate on form 749 (Treas- ury Decision 2817, April 2, 1919). 20th day of each month. Corporations make return in duplicate to Collector of Internal Revenue on form 1012 of taxes withheld from payments of interest on corporate bonds, mort- gages, etc., during preceding month (Regulations 45, Art. 370. For text, see page 75). 20th day of each month. Corporations make return to Commissioner of In- ternal Revenue (Sorting Division) on form 1096A of payments of interest on corporate bonds, mortgages, ete., from which no tax was withheld during preceding ‘month (Regulations 45, Arts. 370, 373. For text, see pages 75, 76). . FEDERAL LAWS. or Last day of each month. Corporations subject to ‘‘ admissions and dues ’’ taxes make return in duplicate on form 729 to.Collector of Internal Revenue and pay taxes collected during preceding month (Regulations 438, Art. 16). Last day of each month. Corporations subject to any of the taxes imposed by Sees. 628, 900, 902, 904 or 906 of the Revenue Act of 1918 make return to Collector of Internal Revenue covering taxes collected during preceding calendar month and pay taxes so collected to him. The text of these sections is as follows: Sec. 628. That there shall be levied, assessed, collected, and paid in lieu of the taxes imposed by sections 313 and 315 of the Revenue Act of 1917— (a) Upon all beverages derived wholly or in part fram cereals or substitutes therefor, and containing less than one-half of one per centum of alcohol, sold by the manufacturer, producer, or importer, in bottles or other closed containers, a tax equivalent to 15 per centum of the price for which so sold; and upon all un- fermented grape juice, ginger ale, root beer, sarsaparilla, pop, arti- ficial mineral waters (carbonated or not carbonated), other carbon- ated waters or beverages, and other soft drinks sold by the manu- facturer, producer, or importer, in bottles or other closed con- tainers, a tax equivalent to 10 per centum of the price for which so sold; and (b) Upon all natural mineral waters or table waters, sold by the producer, bottler, or importer thereof, in bottles or other closed containers at over 10 cents per gallon, a tax of 2 cents per gallon. Sec. 900, That there shall be levied, assessed, collected, and paid, upon the following articles sold or leased by the manufacturer, producer, 6 FEDERAL LAWS. or importer, a tax equivalent to the following percentages of the price for which so sold or leased— (1) Automobile trucks and automobile wagons, (including tires, inner tubes, parts, and accessories therefor, sold on or in connec- tion therewith or with the sale thereof), 3 per centum; (2) Other automobiles and motorcycles, (including tires, inner tubes, parts, and accessories therefor, sold on or in connection therewith or with the sale thereof), except tractors, 5 per centum; (3) Tires, inner tubes, parts, or accessories, for any of the articles enumerated in subdivision (1), or (2) sold to any person other than a manufacturer or producer of any of the articles enumerated in subdivision (1), or (2) 5 per centum; (4) Pianos, organs (other than pipe organs), piano players, graphophones, phonographs, talking machines, music boxes, and records used in connection with any musical instrument, piano player, graphophone, phonograph, or talking machine, 5 per centum ; (5) Tennis rackets, nets, racket covers and presses, skates, snow- shoes, skis, toboggans, canoe paddles and cushions, polo mallets, baseball bats, gloves, masks, protectors, shoes and uniforms, foot- ball helmets, harness and goals, basket-ball goals and uniforms, golf bags and clubs, lacrosse sticks, balls of all kinds, including baseballs, footballs, tennis, golf, lacrosse, billiard and pool balls, fishing rods and reels, billiard and pool tables, chess and checker boards and pieces, dice, games and parts of games (except playing cards and children’s toys and games), and all similar articles com- monly or commercially known as sporting goods, 10 per centum; (6) Chewing gum or substitutes therefor, 3 per centum; (7) Cameras weighing not more than 100 pounds, 10 per centum; (8) Photographic films and plates, other than moving-picture films, 5 per centum; (9) Candy, 5 per centum; (10) Firearms, shells, and cartridges, except those sold for the use of the United States, any State, Territory, or possession of the United States, any political subdivision thereof, the District of Columbia, or any foreign country while engaged against the Ger- man Government in the present war, 10 per centum; (11) Hunting and bowie knives, 10 per centum; (12) Dirk knives, daggers, sword canes, stillettos, and brass or metallic knuckles, 100 per centum; t FEDERAL LAWS. 7 (13) Portable electric fans, 5 per centum; (14) Thermos and thermostatic bottles, carafes, jugs, or other thermostatic containers, 5 per centum; (15) Cigar or cigarette holders and pipes, composed wholly or in part of meerschaum or amber, humidors, and smoking stands, 10 per centum; (16) Automatie slot-device vending machines, 5 per centum, and automatic slot-device weighing machines, 10 per centum; if the manufacturer, producer, or importer of any such machine operates it for profit, he shall pay a tax in respect to each such machine put into operation equivalent to 5 per centum of its fair market value in the case of a vending machine, and 10 per centum of its fair market value in the case of a weighing machine; (17) Livery and livery boots and hats, 10 per centum; (18) Hunting and shooting garments and riding habits, 10 per centum ; (19) Articles made of fur on the hide or pelt, or of which any such fur is the component material of chief value, 10 per centum; (20) Yachts and motor boats not designed for trade, fishing or national defense; and pleasure boats and pleasure canoes if sold for more than $15, 10 per centum; and (21) Toilet soaps and toilet soap powders, 3 per centum. If any manufacturer, producer, or importer of any of the articles enumerated in this section customarily sells such articles both at wholesale and at retail, the tax in the case of any article sold by him at retail shall be computed on the price for which like articles are sold by him at wholesale. c The taxes imposed by this section shall, in the case of any article in respect to which a corresponding tax is imposed by sec- tion 600 of the Revenue Act of 1917, be in lieu of such tax. Sec. 902. That there shall be levied, assessed, collected, and paid upon sculpture, paintings, statuary, art porcelains, and bronzes, sold by any person other than the artist, a tax equivalent to 10 per centum of the price for which so sold. This section shall not apply to the sale of any such article to an educational institution or publie art museum. 8 FEDERAL LAWS. Sec. 904. (a) That on and after May 1, 1919, there shall be levied, as- sessed, collected, and paid a tax equivalent to 10, per centum of so much of the amount paid for any of the following articles as is in excess of the price hereinafter specified as to each such article, when such article is sold by or for a dealer or his estate on or after such date for consumption or use— (1) Carpets and rugs, including fiber, except imported and American rugs made principally of wool, on the amount in excess of $5 per square yard; (2) Picture frames, on the amount in excess of $10 each; (3) Trunks, on the amount in excess of $50 each; (4) Valises, traveling bags, suit cases, hat boxes used by trav- elers, and fitted toilet cases, on the amount in excess of $25 each; (5) Purses, pocket-books, shopping and hand bags, on the amount in excess of $7.50 each; (6) Portable lighting fixtures, including lamps of all kinds and lamp shades, on the amount in excess of $25 each; (7) Umbrellas, parasols, and sun shades, on the amount in excess of $4 each; (8) Fans, on the amount in excess of $1 each; (9) House or smoking coats or jackets, and bath or lounging robes, on the amount in excess of $7.50 each; (10) Men’s waistcoats, sold separately from suits, on the amount in excess of $5 each; (11) Women’s and misses’ hats, bonnets, and hoods, on the amount in excess of $15 each; (12) Men’s and boys’ hats, on the amount in excess of $5 each; (13) Men’s and boys’ eaps, on the amount in excess of $2 each; (14) Men’s, women’s, misses’, and boys’ boots, shoes, pumps, and slippers, not including shoes or appliances made to order for amy person having a crippled or deformed foot or ankle, on the amount in excess of $10 per pair; (15) Men’s and boys’ neckties and neckwear, on the amount in excess of ¢2 each; (16) Men’s and boys’ silk stockings or hose, on the amount in excess of $1 per pair; (17) Women’s and misses’ silk stockings or hose, on the amount in excess of $2 per pair; (18) Men’s shirts, on the amount in excess of $3 each; FEDERAL LAWS. 9 (19) Men’s, women’s, misses’, and boys’ pajamas, night gowns, and underwear, on the amount in excess of $5 each; and (20) Kimonos, petticoats, and waists, on the amount in excess of $15 each. (b) The tax imposed by this section shall not apply (1) to any article enumerated in paragraphs (2) to (8), both inclusive, of subdivision (a), if such article is made of or ornamented, mounted, or fitted with, precious metals or imitations thereof or ivory, or (2) to any article made of fur on the hide or pelt, or of which any such fur is the component material of chief value, or to (3) any article enumerated in subdivision (17) or (18) of section 900. (c) The taxes imposed by this section shall be paid by the pur- chaser to the vendor at the time of the sale and shall be collected, returned, and paid to the United States by such vendor in the same manner as provided in section 502. Sec. 906. That on and after the 1st day of May, 1919, any person engaged in the business of leasing or licensing for exhibition positive motion-picture films containing pictures ready for projection shall pay monthly an excise tax in respect to carrying on such business equal to 5 per centum of the total rentals earned from each such lease or license during the preceding month. If a person owning such a film exhibits it for profit he shall pay a tax equivalent to 5 per centum of the fair rental or license value of such film at the time and place where and for the period during which exhibited. If any such person has, prior to December 6, 1918, made a bona fide contract with any person for the lease or licensing, after the tax imposed by this section takes effect, of such a film for exhibition. for profit, and if such contract does not permit the adding of the whole of the tax imposed by this section to the amount to be paid under such contract, then the lessee or licensee shall, in lieu of the lessor or licensor, pay so much of such tax as is not so per- mitted to be added to the contract price. The tax imposed by this section shall be in lieu of the tax imposed by subdivision (c) and (d) of section 600 of the Revenue Act of 1917. 10 LAWS OF DELAWARE. DELAWARE. January 1. Domestic and foreign building and loan associations file statement of condition as of December 31 with In- surance Commissioner (Code 1915, Par. 618) as fol- lows: Every building and loan association, whether existing under the laws of this State or any other State, shall annually on the first day of January in each year, furnish to the Insurance Commis- sioner of this State a detailed statement of its condition at the close of the fiscal year immediately prior to the first day of Janu- ary, giving a full detailed statement showing the gross amount of interest, premiums, repayments and dues received and collected by such association for the said fiscal year, and the amount of its earnings and its aggregate assets and liabilities at the close of the said fiscal year, which said statement shall be verified by the oath or affirmation of the president or secretary duly administered by some person authorized by the laws of the State to administer oaths. Penalty for failure to file this report is a fine of not less than $100 (Code 1915, Par. 625). January 1. Assessments for local taxes completed in New Castle and Sussex counties (Code 1915, Par. 1112). January 1. Penalty of one per cent per month added to local taxes of preceding year which remain unpaid (Code 1915, Pars. 1174, 1215, 1220). January 1 to 31. Foreign surety companies file statement and certifi- cate with Insurance Commissioner (Code 1915, Par. 630) as follows: LAWS OF DELAWARE. 11 Such company shall also annually, in the month of January, file with the Insurance Commissioner a statement similar to that re- quired by 628, and such further statement as may be by the laws of this State required of such company, in transacting business therein, and shall also furnish him with a certificate from the officer with whom the deposit in 628 is required to be made, de- scribing such securities so deposited and the manner in which they are held by him and stating that he is satisfied that such securities are fully worth the amount so required to be deposited, and also shall furnish the Insurance Commissioner with such information, touching its condition and credit, as he may require, signed and sworn unto as in said 628 provided. Note: Forms for this statement and certificate, showing in detail what they must contain, may be pro- cured from the Insurance Commissioner. January 1 to February 15. Assessments for local taxes in Kent county are made during this period (Code 1915, Par. 1111). First Tuesday of January. Charters of corporations which for two years pre- ceding have neglected to pay taxes assessed against them are declared repealed en 1915, Pars. 74, 75) as follows: If any corporation created after the tenth day of March, A. D. 1899, shall for two consecutive years neglect or refuse to pay the State any tax or taxes which has or have been or shall be assessed against it,or which it is required to pay, under any law of this State and made payable into the State Treasury, the charter of such. corporation shall be void, and all powers conferred by law upon such corporation are declared inoperative and void, unless the Governor shall for good cause shown to him, give further time for the payment of such tax or taxes, in which case a certificate thereof shall be filed by the Governor in the office of the State Treasurer, stating the reasons therefor. 12 LAWS OF DELAWARE. On or before the first Tuesday of January in each year, the State Treasurer shall report to the Governor a list of all the corporations or companies which for two years next preceding such report have failed, neglected or refused to pay the taxes assessed against them or due by them, under the law of this State, and the Governor shall forthwith issue his proclamation, declaring that the charters of these corporations are repealed. First Tuesday of January. Domestic business corporations other than banking corporations file annual report with Secretary of State (Code 1915, Par. 103) as follows: Annually on or before the first Tuesday in January, it shall be the duty of the President, Treasurer or other proper officer, or any two directors, of any corporation now existing or hereafter to be incorporated under the provisions of the laws of this State of the character specified in the preceding section, to make report to the Secretary of State, stating specifically (with the degree of particularity required by Paragraph 2, Section 1919, being Section 5 of Chapter 65 of the Revised Code of the State of Dela- ware), the location of its principal office in this State, and the name of the agent upon whom service of process against said corporation may be served, the location or locations (town or towns, city or cities, street or streets and number, if number there be) of the place or places of business of said corporation without this State; the names and addresses of all the directors and officers of the company and when the terms of each expire; the amount of its authorized capital stock, if any, and the amount actually issued; the date appointed for the next annual meeting of the stockholders for the election of directors; as well also the following particulars, namely: Each telegraph, telephone, cable or express company, not owned by a railroad. company and not otherwise taxed, shall state the gross amount of its receipts from business done in this State for the year preceding the making of such report; each gas company and electric light company shall state the amount of its receipts for light or power supplied within this State for the year preceding the making of such re- port, and the amount of dividends declared or paid during the same time; each company organized for the distribution of heat or LAWS OF DELAWARE. 13 power or organized for the purpose of producing or distributing steam, heat or power, shall state the amount of its receipts for - the distribution of heat or power, or for the production or dis- tribution of steam, heat or power within this State for the year preceding the making of such report, and the amount of dividends declared or paid during the same time; each parlor, palace or sleeping car company shall state the gross amount of its receipts for fare or tolls for transportation of passengers within the State during the same time; each oil or pipe line company engaged in the transportation of oil or crude petroleum shall state the gross amount of its receipts from the transportation of oil or petroleum through its pipes or in and by its tanks or cars in this State during the same time; each fire, marine, live stock, casualty or acci- dent insurance company shall state the total amount of premiums received by it for insurance upon the lives of persons resident or property, located within this State during the same time; each life insurance company shall state the total amount of premiums received by it for insurance upon the lives of persons resident within this State, during the same time. Every other corporation shall file with the Secretary of State on or before the first Tuesday in January in each year an annual report which shall state (with the degree of particularity required by Paragraph 2, Section 1919, being Section 5 of Chapter 65 of the Revised Code of the State of Delaware), the location of its principal office in this State, and the name of the agent upon whom service of process against said company may be served; the location or locations (town or towns, city or cities, stating the streets and numbers, if numbers there be) of the place or places of business of said company without this State; the names and addresses of all the directors and officers of the company, and when the terms of each expire; the date appointed for the next annual meeting of stockholders for the election of directors; the amount of its authorized capital, the amount actually issued, the amount invested in real estate, the tax annually thereon, and the amount invested in manufacturing or mining in this State, or both; and, if exempt from taxation under the provisions of sections 68, 72 and 83 of this Chapter, the specific facts entitling such corpo- ration to exemption from taxation aforesaid, provided, that no part of this section shall apply to corporations which are by law under the supervision of the Insurance Commissioner. 14 LAWS OF DELAWARE. Penalties for Failure to File. If such report is not.so made and so filed the corporation shall forfeit to the State the sum of two hundred dollars, to be recov-* ered with costs in an action of debt, to be prosecuted by the Attorney ‘General, who shall prosecute such actions whenever it shall appear that this section has been violated; and provided further, if such report. shall not be so made and filed, all the directors of any such cvrporation, who shall wilfully refuse to eomply with the provisions thereof and who shall be in office during the default, shall at the time appointed for the next election, and for a period of one year thereafter, be thereby rendered ineligible for election or appointment to any office in the company as directors or otherwise; no director shall be thus disqualified for the failure to make and file such report, if he shall file with the Secretary of State before the time appointed for holding the next election of directors after such default a certificate stating that he has endeavored to have such report made and filed, but that the officers have neglected to make and file the same, and shall report the items required to be stated in such annual report so far as they are within his knowledge, or are obtainable from sources of such information open to him, verified by him to be true to the best of, his knowledge, informa- tion and belief; the Secretary of State shall upon application furnish blanks in proper form and shall safely keep in his office all such reports, which shall be open to the inspection of all persons at proper hours. In case any such corporation shall fail to file such report within the time required by this section, and in case the agent in charge of the principal office of such company upon whom process against such company may be served shall die, or shall resign, or shall remove from the State, or such agent cannot with due diligence be found, it shall be lawful while such default continues, to serve process against such corporation upon the Secretary of State, and such service shall be as effectual to all intents and purposes as if made upon the president or head officers of such corporation, and within two days after such service upon the Secretary of State as aforesaid, it shall be the duty of the Secretary of State to notify such corporation thereof by letter directed to such corporation at its registered office, in which letter shall be enclosed a copy of the process or other paper served; and it shall be the duty of the LAWS OF DELAWARE. 15 plaintiff in any action in which said process shall be issued to pay to the Secretary of State, for the use of the State, the sum of three dollars, which said sum shall be taxed as a part of the costs in said suit if the plaintiff shall prevail therein; the Secretary of State shall keep a book to be called the ‘‘ process book,’’ in which shall be entered alphabetically, by the’name of the plain- tiff and defendant therein, the title of all causes in which pro- cesses have been served upon him, the test of the process so served, the return day thereof, and the day and hour when the service was made. All companies incorporated under the General Corporation Law of this State, accepting the provisions of the Constitution of Delaware and coming under the supervision of said law, shall file an annual report with the Secretary of State as hereinbefore pro- vided in this section, provided further, however, that in the dis- eretion of the Secretary of State the filing fee may be remitted in the ease of a charitable or beneficial organization, carried on without profit, or a corporation that is required to file a report with the Insurance Commissioner for which a fee is collected. January 10. Announcement of the time and place of hearings to revise local assessments in New Castle and Sussex counties is made on or before this date (Code 1915, Par. 1113) and assessment lists are posted in said - counties (Same, Par. 1112). Last Tuesday of January. Board of Revision sits to revise local assessments in New Castle and Sussex counties (Code 1915, Par. 1113). 16 LAWS OF MAINE. MAINE. January 1 to 31. Agents licensed to do business with foreign fire in- surance companies which are not authorized to do business in Maine file with Treasurer of State a sworn statement of gross premiums charged for insurance procured or placed and gross returned premiums on such insurance cancelled under such license during the preceding calendar year, and at the same time pay into the state treasury 2% of such gross premiums less such returned premiums (Rev. Stats. 1916, Chap. 53, Sec. 125). January 31. By this date all insurance companies render state- ment of condition to Insurance Commissioner as of December 31 preceding (Rev. Stats. 1916, Chap. 53, Sec. 91) as follows: Every insurance company, doing business in the state, shall annually, by the thirty-first day of January, render to the com- missioner either an exact statement, under oath, of its condition as it existed on the thirty-first day of the previous December, or its last exhibit, setting forth its condition as required by blanks. furnished by the commissioner, and any company, association or society which neglects or refuses to comply with the provisions of this section, or to file its premium tax return, or to pay the tax for which it shall be liable, as required by the laws of this. state, forfeits five dollars a day for each day’s neglect, provided, that for good cause shown, the commissioner may extend the time within which the statement required by this section may be filed,. to a date not later than the fifteenth day of February. Note: Domestic life insurance companies include in their report of condition a statement of the amount of ° LAWS OF MAINE. 17 premiums liable to taxation (Rev. Stats. 1916, Chap. 9, Sees. 47, 48). January 31. The representative or agent of individuals, firms or corporations which make contracts providing indem- nity among themselves from casualty or from loss or damage to their own property, file financial statement with Insurance Commissioner (Rev. Stats. 1916, Chap. 53, Secs. 95, 99). é January 31. Corporations doing an insurance business on the as- sessment plan return to Insurance Commissioner a statement of their affairs for the preceding calendar vear (Rev. Stats. 1916, Chap. 53, Sec. 171). January 31. On or before this date foreign insurance companies of all classes except certain fire companies make pre- mium tax return to Insurance Commissioner (Rev. Stats. 1916, Chap. 9, Sec. 51) as follows: Every company or association which by the two preceding sec- tions is required to pay a tax, shall, on or before the thirty-first day of each January, make a return under oath to the Insurance Commissioner, stating the amount of all premiums received by said company, either in cash or notes absolutely payable, during the year ending on the thirty-first day of December previous, the ‘amount of return premiums on policies canceled during the year, the amount of all premiums paid to or received from other com- panies during the year for insurance og reinsurance of risks in this state, the names of the companies with which such insurance or reinsurance was effected; the amounts of the policies and the premiums on the same. 18 LAWS OF MAINE. January 31. Certain foreign fire insurance companies make re- turn under Rev. Stats. 1916, Chap. 9, Sec. 52, as follows: Mutual fire insurance companies incorporated under the laws of other states, which insure only factories, or mills, or property con- nected with such factories or mills, admitted to do business in this state shall comply with all tse requirements of law except that in lieu of all other taxation upon premiums in this state; such companies shall annually pay a tax at the rate of two per cent on gross premiums in force on risks in this state, after deducting the unabsorbed portion of ‘such premium, computed at the rate of return actually made on annual policies expiring during the year by said insurance companies. Such companies shall, on or before the thirty-first day of each January, make a return, under oath, to the insurance commissioner, showing the gross premiums in force on risks in this state on the thirty-first day of December previous and the unabsorbed portion of such premiums computed at the rate of return actually made on annual policies expiring during the year, by said insurance companies. LAWS OF MASSACHUSETTS. 19 MASSACHUSETTS. January 1 to 31. Persons or corporations licensed to do business with unauthorized foreign fire insurance companies file with treasurer and receiver general a sworn statement of gross premiums charged and gross return premiums cancelled on such insurance during preceding calendar year and at the same time pay tax of 4% thereon (Laws 1907, Chap. 576, Sec. 88). Penalty for failure to do so is loss of license, fine of from $100 to $500, or imprison- ment up to one year (Same, See. 108). January 1 to 31. All domestic and foreign insurance companies, ex- cept life companies and fraternal benefit associations, make a return to the Tax Commissioner of the pre- miums collected upon Massachusetts business during ‘the preceding calendar year (Laws 1909, Chap. 490, Part ITI, Sec. 34) as follows: Every company liable to taxation under the provisions of sec- tions twenty-eight and thirty-two shall annually, during the month of January, make a return to the tax commissioner, signed and sworn to by its secretary or other officer having knowledge of the facts, stating the amount insured by said company, the premiums received, and the assessments collected by it during the year end- ing on the preceding thirty-first day of December. Every foreign company, association or partnership, including associations formed upon the plan known as Lloyds, authorized to do business in the commonwealth, shall annually, during the month of January, make a return to the tax commissioner, in such form as he shall pre- scribe, signed and sworn to by its secretary, manager or other officer having knowledge of the facts, of the amount insured by it upon property or interests in this commonwealth, and the 20 LAWS OF MASSACHUSETTS. premiums and assessments upon such insurance charged on con- tracts made by it or its agents in this commonwealth during the year ending on the preceding thirty-first day of December. For cause, the tax commissioner may extend the time within which any such statement may be filed, but not to a date later than the first day of March. Such returns shall state the whole amount of premiums charged by or in behalf of said company, association or partnership, either in cash or in notes absolutely payable, the amount claimed as a deduction therefrom under any of the pro- visions of this part, and also the classes of deductions and the amount of each class: provided, however, that the first return to be made after the passage of this act shall be made not later than the thirtieth day of September, in the year nineteen hundred and seventeen, and shall include the statements required by this section for the three months beginning with the first day of October, in the year nineteen hundred and sixteen, and ending on the thirty-first day of December, in the year nineteen hundred and sixteen; and thereafter returns shall be made in the month of January for the year ending on the preceding thirty-first day of December. January 1 to March 1. Corporations acting as trustee file with Tax Commis- sioner a return of income received in that capacity dur- ing the preceding calendar year (Laws 1916, Chap. 269, Secs. 9, 12, as amended) as follows: Sec. 9. Foreign and domestic corporations acting as trustee or in any other fiduciary capacity shall, with respect to the income received by them in that capacity, be subject to the provisions of this act in the same manner and under the same conditions as individual inhabitants of this commonwealth acting in similar capacities, ex- cept that no such corporation shall be taxed on account of any property the income of which would be taxable under section two hereof if received by an individual inhabitant, or on account of the income derived from such property, if such property is held by such corporation as mortgagee or pledgee to secure the pay- LAWS OF MASSACHUSETTS. 21 ment of bonds, notes or other evidences of indebtedness the interest on which is taxable under section two of this act to such indi- vidual inhabitants of the commonwealth as receive it, or the prin- cipal of which is exempt from taxation under laws other than this act. The provisidns of this act with reference to the taxation of income received by trustees shall, so far as apt, apply to the income received by guardians, conservators, trustees in bank- ruptey, receivers and assignees for the benefit of creditors. In- come accumulated in trust for the benefit of unborn or unascer- tained persons or persons with contingent interests shall be taxed as if accumulated for the benefit of inhabitants of this common- wealth. For the purpose of facilitating the settlement and distribution of estates held by executors, administrators, trustees, guardians, conservators, trustees in bankruptcy, receivers and assignees for the benefit of creditors, the tax commissioner, with the approval of the attorney-general, may on behalf of the commonwealth agree upon the amount of taxes at any time due cr to become due from such estates under the provisions of this act, and payment in accordance with such agreement shall be full satisfaction of the taxes to which the agreement relates. Sec. 12. Every individual inhabitant of the commonwealth, including every partnership, association or trust, whose annual income from all sources exceeds two thousand dollars shall annually make a return of his entire income, except income derived (a) from real estate, (b) from dividends exempt from taxation under section two of this act, (¢) from interest upon bonds or other obligations of the United States, (d) from interest upon such bonds, notes and _ certificates of indebtedness of the commonwealth and political sub- divisions thereof as.are exempt from taxation under the provisions of clause fifteen of section five of Part I of chapter four hundred and ninety of the acts of the year nineteen hundred and nine, and acts in amendment thereof and in addition thereto, (e) from loans secured exclusively by mortgages of real estate, taxable as real estate, situated within the commonwealth to an amount not ex- ceeding the assessed value of the mortgaged real estate, and (f) from wages or salaries received from the United States. Every 92 LAWS OF MASSACHUSETTS. other individual inhabitant,including every partnership, association or trust, who receives income taxable under section two or sub- division (a) or (c) of section five of this act shall make an annual return of such taxable income. Every executor, administrator, trustee, guardian, conservator, trustee in bankruptcy, assignee for the benefit of’ creditors and receiver, other than a receiver of a corporation organized under the laws of the commonwealth, and every other person receiving income taxable under this act shall make an annual return of his taxable income as herein provided. The aforesaid return shall be under oath, and shall be filed with the income tax assessor for the district in which the taxpayer resides or has his principal place of business or, at the option of the taxpayer, may be filed with the tax commissioner, and shall be made in such form as the tax commissioner shall from time to time prescribe and shall contain such further information as the tax commissioner may deem pertinent. The return shall be made on or before the first day of March in each year, and shall relate to the income received during the calendar year ending on the preceding thirty-first day of December. January 1 to March 1. Foreign and domestic corporations file returns with Tax Commissioner for preceding calendar year as fol- lows: (1) employees receiving more than $1800; (2) names of stockholders; (3) persons to whom interest on bonds and notes or annuities were paid (Laws 1916, Chap. 269, Sec. 25 as amended) as follows: Every employer, being an inhabitant of the commonwealth or having a place of business therein, shall file annually with the tax commissioner a return in such form as he shall from time to time prescribe, giving the names and addresses of all regular em- ployees residing in this commonwealth to whom the said employer has paid wages, salary or other compensation in excess of the sum of eighteen hundred dollars during the previous calendar year. Every corporation and every partnership, association or trust the beneficial interest in which is represented by transferable shares, doing business in the commonwealth, shall, unless the dividends paid upon its shares are exempt from taxation under LAWS OF MASSACHUSETTS. 23 section two of this act, annually file with the tax commissioner a list of the names and addresses of its shareholders, together with the number and elass of shares held by each shareholder and the rate of dividends paid on each class of stock for the preceding calendar year, as of record on the thirty-first day of December of the previous year, or on any other date satisfactory to the com- missioner, or, in its discretion, of such shareholders as are resi- dents of the commonwealth. Every corporation, partnership, asso- ciation or trust, doing business in the commonwealth shall report annually to the tax commissioner in such form as he shall pre- scribe the names and addresses of residents of the commonwealth to whom it has paid interest during the preceding calendar year upon its bonds, notes, or other evidences of indebtedness, and to whom it has paid any annuity or annuities, except, however, in- terest coupons payable to bearer, and income exempt from taxa- tion under this act. In any individual case, any such corporation, partnership, association or trust shall, upon request of the tax com- missioner, state the respective amounts of dividends, interest and annuities so paid by it to any person during any calendar year. The returns provided by this section shall be made on or before the first day of March in each year; but the tax commissioner may, in his discretion, authorize them to be made at any other date and in connection with any other reports or returns that the said individuals, partnerships, associations, trusts and corporations may be required to file with him. Any individual, partnership, association, trust or corporation that without reasonable excuse fails to comply with the provisions of this section shall be punished by a fine of not less than twenty- five nor more than five hundred dollars for each offence. January 15. All domestic and foreign insurance companies file with Insurance Commissioner a statement of financial condition on December 31 preceding and of their busi- ness for the previous calendar year. The time of filing may, however, be extended not later than March 1, and life insurance companies need not file their ‘‘ Gain and Loss Exhibit ’’ until May 1 (Laws 1907, Chap. 576, 24 LAWS OF MASSACHUSETTS. Sec. 101). Penalty for failure to file is fine of $100 for each day during which such neglect continues and prohibtion against doing new business (Same, Sec. 110). _ January 15. Title insurance companies file a statement with the Insurance Commissioner identical with the preceding, and subject to the same penalties for failure (Laws 1907, Chap. 576, Sec. 63). LAWS OF NEW JERSEY. 25 NEW JERSEY. January 1. / Franchise tax reports due the first Tuesday of May are made as of this date (Laws 1896, Chap. 185, Sec. 186). For text see entry under May. January 1. Tax on bank stock is a Hen on such stock from this date (Laws 1918, Chap. 265, Sec. 7) as follows: The shares of stock of every bank, banking association and trust company shall be assessed against the stockholders in the taxing district within which the principal place of business of such bank, banking association or trust company is located, and the tax assessed against such stockholders shall be a lien upon their stock . . . from the first day of January in each year, and said stock may be levied upon and sold by the collector on default of payment, and moreover, it shall be the duty of said bank, banking association and trust company to pay said tax as- sessed against such shareholders on demand, and said bank, bank- ing association or trust company shall have a lien upon the shares for such payment and may retain the amount so paid out of the dividends that may be declared on such shares. January 1 to 31. ~ Dividends must be declared during this month un- less otherwise provided by corporate charter or by- laws (Laws 1896, Chap. 185, Sec. 47, as amended) as follows: ‘Unless otherwise provided in the original or amended certificate of incorporation, or in a by-law adopted by a vote of at least a majority of the stockholders, the directors of every corporation 26 LAWS OF NEW JERSEY. created under this act shall, in January in each year, after re- serving over and above its capital stock paid in, as a working capital for said corporation, such sum, if any, as shall have been fixed by the stockholders, declare a dividend among its stock- holders of the whole of its accumulated profits exceeding the amount so reserved, and pay the same to such stockholders on demand. First Monday of January. Comptroller reports to Governor names of corpora- tions which for two years have failed to pay franchise tax, and Governor issues proclamation declaring their charters repealed (Laws 1896, Chap. 185, Sec. 142, as amended) as follows: On or before the first Monday in January in each year the comptroller shall report to the governor a list of all corporations which for two years next preceding such report have failed, neg- lected or refused to pay the taxes assessed against them under any law of this state as above, and the governor shall forthwith issue his proclamation, declaring under this act of the legislature that the charters of these corporations are repealed, and all powers conferred by law upon such corporations shall thereafter be deemed inoperative and void. January 10. v Assessments of real and personal property completed and assessment lists filed (General Tax Act, Revision of 1918, See. 501) as follows: The assessor shall begin the work of making assessments upon real and personal property upon the first day of October in each year and shall complete the same by the tenth day of January following, on which date he shall attend before the county board of taxation and file with said board his complete assessment list, and a true copy thereof, to be called the assessor’s duplicate, properly made up and legibly written in ink, to be by said board examined, revised and corrected as hereinafter provided. LAWS OF NEW JERSEY. oT January 10. At some period before this date an opportunity is given to taxpayers to inspect the assessment lists (Gen- eral Tax Act, Revision of 1918, Sec. 502), as follows: It shall be the duty of every assessor, before filing the complete assessment list and duplicate with the county board of taxation, and before annexing thereto his affidavit as required in section five hundred and one of this article, to give public notice by advertisement in at least one newspaper circulating within his taxing district of a time and place, when and where the assess- ment list may be inspected by any taxpayer for the purpose of enabling such taxpayer to ascertain what assessments have been made against him or his property and to confer informally with the assessor as to the correctness of the assessments, to the end that any errors may be corrected before the filing of the assess- ment list and duplicate. January 10. State and national banks and trust companies file statement as of January 1 with Board of Taxation and duplicate thereof with Commissioner of Banking and Insurance (Laws 1918, Chap. 265, Sec. 3) as follows: For purposes of assessment, the chief fiscal officer of every bank, banking association and trust company, organized under the authority of this State, or of the United States, whose principal place of business is located ‘within this State, shall, on or before the first day of July, in the year one thousand nine hundred and eighteen, and on or before the tenth day of January in each year thereafter, file with the secretary of the board of taxation of the county within which its principal place of business is located, a true statement, under the oath of the president or the cashier, or the treasurer of the same, setting forth its name and principal place of business, the names, residences and total number of its stockholders, and the number of shares held by each, the amount of capital, surplus and undivided profits, as the same are indicated by the books of the company upon the twentieth day of May, in the year one thousand nine hundred and eighteen, and thereafter 28 LAWS OF NEW JERSEY. on the first day of January of the year in and for which such statement is filed, and the assessed value of its real property. A duplicate of this statement shall be filed, at the same time, with the Commissioner of Banking and Insurance, to remain in his office as a public record. There shall, in addition to such report, be kept at the principal place of business of every such bank, banking association or trust company, a full and correct list of the names and residences of all stockholders therein, and of the number of shares held by each, which said lists shall be subject to the inspection of the board of taxation of the county within which said bank, banking association or trust company maintains its principal place of business, at all times during business hours. Penalty for failure to file above report (Laws 1918, Chap. 265, Sec. 9) as follows: In case of neglect, refusal or failure on the part of any bank, banking association or trust company to comply with the provi- sions of this act, with reference to the filing of the statements herein required to be made, on or before the time herein pro- vided for the filing of the same, or to submit to the inspection of any officer or agent of the county board of taxation the list or statement herein required to be kept in the office of such com- pany, and submitted to inspection, the company so neglecting, refusing or failing shall be liable to a penalty of one hundred dollars, and an additional sum of ten dollars for each day during which such neglect, refusal or failure continues. Note: The foregoing report is not required from savings banks (Laws 1918, Chap. 265, See. 93). Second Tuesday of January. The annual meetings of stockholders of banks and trust companies must be held at the principal place of business of such banks or trust companies (Laws 1899, Chap. 173, Sec. 9; Chap. 174, See. 12). Notice of such annual meeting shall be published at least ten days before the date of the meeting in a newspaper published in the place where the principal place of business of the trust com- ® LAWS OF NEW JERSEY. 29 pany is located; or if there is no newspaper published at such place, then, in one published at the place nearest thereto in the same county. January 15. Last day for fire insurance companies to file semi- annual list of brokers (Laws 1911, Chap. 278, Sec. 110) as follows: Hereafter every fire insurance company doing business in this State and each agent thereof shall file with the commissioner of banking and insurance, within fifteen days after the thirtieth day of June and the thirty-first day of December of each year, a sworn statement, on blanks furnished by said commissioner, setting forth the names and addresses of all brokers who have done business through said companies or agents during the pre- ceeding six months. January 15. Tax on bank stock determined and levied by County Boards of ‘Taxation (Laws 1918, Chap. 265, Sec. 6). January 31. Last day for savings banks to make report to Com- missioner of Banking and Insurance (Laws 1906, Chap. 195, Secs. 43 to 46, 48) as follows: Sec. 43. Every savings bank shall, on or before the thirty-first day of January in each year, make a report in. writing to the Commis- sioner of Banking and Insurance and in such form as the said commissioner shall prescribe, of its condition at the close of business on the thirty-first day of December preceding such report. Sec. 44. Such report shall state the amount loaned upon bond and mort- gage, together with a list of all bonds and mortgages upon which 30 LAWS OF NEW JERSEY. the interest has been in arrears for six months; the book, par and market value of all investments, designating each particular kind of security; the amount loaned upon the pledge of securities, with a statement of such securities; the amount invested in real estate, giving the cost and market value of the same; the amount of cash on hand and on deposit in banks or trust companies, with the names of such banks and trust companies and the amounts de- posited in each, and such other reasonable information as the commissioner of banking and insurance may require. Sec. 45. ‘ Such report shall also state all the liabilities of such savings banks on the said thirty-first day of December, the amount due to depositors, which shall include any dividend to be credited to them for any interest period ending on the day of said report, and any other debts or claims against the bank which are or may be a charge upon its assets; such report shall also state the amount deposited during the twelve months previous, and the amount withdrawn during the same period; the whole amount of interest or profits received or earned, and the amount of dividends credited to depositors; the number of accounts opened or re-opened, the number closed during that period, and the number of open accounts at the end of that period, and such other reasonable information as may be required by the commissioner of banking and insurance. Sec. 46. Such report shall be verified by the oath or affirmation of the two principal officers of the bank, and the statement of assets shall be verified by the oath or affirmation of a majority of the committee of managers who examined the same, pursuant to the requirements of section forty-two; and any wilful false swearing in regard to such reports, or in regard to any. reports made to the commissioner of banking and insurance, pursuant to the pro- visions of this act, shall be deemed perjury, and shall be subject to the prosecutions and punishments prescribed by law for that offense. (For provisions of Section 42, see entry under De- cember.) LAWS OF NEW JERSEY. 31 Sec. 48. If any savings bank shall fail to furnish to the commissioner of banking and insurance any annual or special report or state- ment required by this act within the time so required, the man- agers of such bank shall personally forfeit the sum of one hundred dollars per day for every day such report or statement shall be so delayed or withheld; and the said commissioner may maintain an action against such managers jointly in his name to recover such penalty, and when collected, the same shall be paid into the treasury of this State; but the said commissioner may, for suffi- cient cause shown, extertd the time for making any such report, not exceeding thirty days. The fee for filing this report is $20.00 (Laws 1906, Chap. 195, See. 53). January 31. All insurance companies file statement with Depart- ment of Banking and Insurance as of December 31 pre- ceding (Laws 1902, Chap. 134, Sec. 70), as follows: Every insurance company transacting business in this state shall annually, on or before the thirty-first day of January, file in the department of banking and insurance a statement, subscribed and sworn to by its president and secretary, or, in their absence, by two of its principal officers, showing its financial condition at the close of business on the thirty-first day of December of the year last preceding, and its business for that year, which statement shall be in such form and contain such matters as the commis- sioner of banking and insurance shall prescribe; said commis- sioner may also address any inquiries to any such company or its officers in relation to its condition or affairs, or any matter connected with its transactions, and it shall be the duty of the officers of such company to promptly reply in writing to all such inquiries; for good cause shown the commissioner may extend the time within which any such statement may be filed; the annual statement of a company of a foreign country shall embrace only its business and condition in the United States, and shall be subscribed and sworn to by its resident manager or principal representative in charge of its American business. 32 LAWS OF NEW JERSEY. Penalty for neglect to file foregoing statement. Any such company that neglects to make and file its annual statement in the form and within the time provided by the last preceding section shall forfeit one hundred dollars for each day’s neglect, and upon notice by the Commissioner of Banking and In- surance to that effect its authority to do new business in this state shall cease while such default continues (Laws 1902, Chap. 134, See. 71). (But see entry under June 30.) LAWS OF NEW YORK. 33 NEW YORK. January 1. . On or before this date trustees of savings banks make semi-annual examination of its affairs (Banking Law, Sec. 272) as follows: The trustees of every savings bank, by a committee of not less than three of their number, on or before the first days of January and July in each year, shall thoroughly examine the books, vouchers and assets of such savings bank, and its affairs gen- erally. The statement or schedule of assets and liabilities re- ported to the superintendent of banks for the first of January and July in each year, as provided in the section next following, shall be based upon such examinations, and shall be verified by the oath of a majority of the trustees making it; and the trustees of any savings bank may require such examination at such other times as they shall prescribe. The trustees shall, as often as once in each six months during each year, cause to be taken an accurate balance of their depositors’ ledgers, and in their said semi-annual report to the superintendent they shall state the fact that such balance has been taken, and the discrepancies, if any, existing between the amount due depositors, as shown by such balance, and the amount so due as shown by the general ledger. (For text of next section—Sec. 273—see entry under February 1, page 63.) January 1. Penalty of 12% added to unpaid general property taxes of preceding year in Westchester county (Laws 1916, Chap. 105, Sees. 15, 18.) January 1. In New York City water charges for the succeeding year are due and payable, and become a lien on the 34 LAWS OF NEW YORK. real estate affected (N. Y. City Charter, Sec. 476 as amended by Laws 1916, Chap. 502) as follows: Uniform annual charges and extra and ‘miscellaneous charges for water not metered and annual service charges and minimum. charges shall be due and payable in advance on the first day of January in each year, if entered; and if not paid to or received by the department before the close of the last business day of the following March, shall be subject to a penalty of five per centum,. and if not paid to or received by the department before the close of the last business day of the following June to a further penalty of ten per centum. If not so entered and payable, but entered in any quarter of a year, they Shall be due and payable when en- tered and shall, after the mailing before or upon the close of such quarter of notice thereof to the premises against which they are imposed addressed to ‘‘ owner or occupant ’’ be subject, if not. paid to or received by the department before the close of the last business day of the next quarter, to a penalty of five per centum and, if not paid to or received by the department before the close of the last business day of the next succeeding quarter to a fur- ther penalty of ten per centum. All charges for meters and their connections and for their setting, repair and maintenance, unless. such charges shall be borne by the department, and all charges in accordance with meter rates for supply of water measured by meter shall be due and payable when entered, and such charges when entered in any quarter of a year shall, after the mailing before or upon the close of such quarter of notice stating the amount due and the nature of the charge to the last known address. of the person whose name appears on the record of such charges. as being the owner, occupant or agent or, where no name appears, to the premises addressed to ‘‘ owner or occupant ’’ be subject, if not paid to or received by the department before the close of the last business day of the next quarter, to a penalty of five. per centum and if not paid to or received by the department before the close of the last business day of the next succeeding quarter- to a further penalty of ten per centum. January 1, Income tax payable by domestic and foreign busi-~ ness corporations (Tax Law, See. 219c) as follows: LAWS OF NEW YORK. 35 The tax hereby imposed shall be paid to the state comptroller on or before the first day of January of each year, or within thirty days after notice of the tax has been given as provided in section two hundred and nineteen-b of this chapter if such notice is given subsequent to the first day of December of the year for which such tax is imposed. If such tax be not so paid, or in the case of additional taxes, if not paid within thirty days after notice of such additional tax has been given as provided in section two hundred and nineteen-d of this chapter and such notice of addi- tional tax is given subsequent to the first day of December of the year for which such additional tax is imposed, the corporation liable to such tax shall pay to the state comptroller, in addition to the amount of such tax, or additional tax, ten per centum of such amount, plus one per centum for each month the tax or additional tax remains unpaid. Each such tax or additional tax shall be a lien upon and binding upon the real and personal property of the corporation liable to pay the same from the time-when it is payable until the same is paid in full. January 1. Action may be brought by attorney-general to dis- solve corporations which have failed to pay income tax for preceding year (Tax Law, Sec. 219f) as follows: Action may be brought at any time by the attorney-general at the instance of the comptroller, in the name of the state, to re- cover the amount of any taxes, penalties and interest due under this article. If such taxes be not paid within one year after the same be due, and the comptroller is satisfied that the failure tu pay the same is intentional he shall so report to the attorney- general, who shall immediately bring an action in the name of the people of the state, for the forfeiture of the charter or franchise of any corporation failing to make such payment, and if it be found that such failure was intentional, judgment shall be rendered in each action for the forfeiture of such charter and for its disso- lution if a domestic corporation and if a foreign corporation for the annulment of its franchise to do business in this state. - \ 36 LAWS OF NEW YORK. January 1. Receivers of banking corporations file report with Superintendent of Banks (Gen. Corp. Law, See. 248) as follows: All receivers of insolvent corporation who are required by law to make and file reports of their proceedings shall at the time of making and filing such reports, serve a copy thereof upon the attorney-general of this state, and receivers of such corporations as report to, and are under the supervision of, the banking depart- ment shall on the first day of January and July of each year, during the continuance of their respective trusts, file with the superintendent of banks a report, verified by oath, in such form as the superintendent may prescribe, showing the condition of their respective trusts. In case any receiver of an insolvent corpo- ration shall neglect to make and file a report of his proceedings for thirty days after the time he is required by law to make and file such report, or shall neglect for the same length of time to serve a copy thereof on, the attorney-general, as required by this section the attorney-general may make a motion in the supreme court for an order to compel the making and filing and serving a copy on him of such report, or for the removal of such receiver from his office. January 1. Public adjuster corporations must apply to Superin- tendent of Insurance for renewal of license before this date (Insurance Law, Sec. 138a as amended by Laws 1914, Chap. 108) as follows: Every adjuster’s certificate of authority shall expire on the thirty-first day of December of the calendar year in which the same shall have been issued, but if an application for the renewal of any such certificate shall have been filed with the superintend- ent of insurance before January first of any year the certificate of authority sought to be renewed shall continue in full force and effect until the issuance by the superintendent of insurance of the new certificate applied for or until five days after the superin- tendent of insurance shall have refused to issue such new certifi- LAWS OF NEW YORK. 37 cate and shall have served notice of such refusal on the applicant therefor. Service of such notice may be made either personally or by mail, and if by mail, shall be deemed complete if such notice is deposited in the post office, postage prepaid, directed to the applicant at the place of business specified in the application. Before any adjuster’s certificate of authority shall be issued by the superintendent of insurance there must be filed in his office a written application therefor. Such application shall be in the form or forms and supplements thereof prescribed by the super- intendent of insurance and must set forth (1) the name and ad- dress of the applicant, and if the applicant be a partnership or association, the name and address of each member thereof, and if the applicant be a corporation, the name and address of each of its officers and directors; (2) whether any certificate of authority as agent, broker or adjuster has been issued theretofore by the superintendent of insurance to the applicant, and, if the applicant be an individual, whether any such certificate has been issued theretofore to any partnership or association of which he was or is a member or to any corporation of which he was or is an officer or director, and, if the applicant be a partnership or association, whether any such certificate has been issued theretofore to any member thereof, and, if the applicant be a corporation, whether any such certificate has been issued theretofore to any officer or director of such corporation; (3) the business in which the appli- cant has been engaged for the year next preceding the date of the application, and, if employed by another, the name or names and address or addresses of such employer or employers; (4) such information as the superintendent of insurance may require of applicants to enable him to determine their trustworthiness and competency to transact the business of adjuster in such manner as to safeguard the interests of the public. An application for an adjuster’s certificate of authority must be signed and verified by the applicant and, if made by a partner- ship or association, by each member thereof and if made by a eorporation by each officer and director thereof to be authorized thereby to act as an adjuster. A corporation, ,association or partnership to which a certificate of authority shall have been issued by the superintendent of in- surance under this section may at any time make an application to the superintendent of insurance for the issuance of a supple- 38 LAWS OF NEW YORK. mental certificate of authority authorizing additional officers or directors of the corporation or members of the partnership or association to act as adjusters, and the superintendent of insurance may thereupon issue to such corporation, association or partner- ship a supplemental certificate accordingly upon the payment of an additional fee for each member or officer or director thereby authorized to act as an adjuster. January 1. Agents for health and accident insurance companies must apply to Superintendent of Insurance for renewal of certificate of authority before this date (Insurance Law, Sec. 91a as amended by Laws 1914, Chap. 14, sub. 1) as follows: No corporation transacting the business of health and accident insurance within this state, or agent thereof, shall pay any com- mission or other compensation to any person, partnership, associa- tion or corporation, except to a broker duly authorized under the provisions of section one hundred and forty-three of this chapter, for services in obtaining new insurance or in collecting premiums from policyholders in this state, unless such person, partnership, association or corporation shall have first procured from the superintendent of insurance a certificate of authority to act as an agent of such corporation as hereinafter provided. No person, partnership, association or corporation shall act as agent in the solicitation or procurement in this state of applications for health and accident insurance or in the collection of premiums for such insurance, or receive for such services any commision or »ther compensation from any corporation transacting the business of health and accident insurance in this state, or agent thereof, with- out first procuring a certificate of authority so to act frem the superintendent of insurance which must be renewed annually. Before any agent’s certificate of authority shall be issued by the superintendent of insurance pursuant to this section, there shall be filed in his office: (1) A written application by the person, partnership, association or corporation desiring such au- thority which shall be in the form or forms and supplements thereof prescribed by the superintendent of insurance and con- tain such information as he may require. (2) A certificate by LAWS OF NEW YORK. 39 the corporation desiring to employ the applicant as agent, duly verified by one of its executive officers or managing agents, that such corporation has duly investigated the character and record of the applicant and has satisfied itself that he is trustworthy and competent to act as its agent. The superintendent of insurance may refuse to issue or renew and may revoke any such certificate for cause, which shall include violations of the insurance law and fraudulent practices, provided that no such action shall be taken without an investigation and a hearing either before the superintendent or before a salaried employee of the insurance department designated for that purpose, whose report the super- intendent may adopt. Every such corporation shall, upon the termination of the employment of any agent for the solicitation of health and accident insurance in this state or the collection of premiums therefor, forthwith file with the superintendent of insurance a statement of the facts relative to the employment of such agent and the termination of such employment and the cause thereof. Every such certificate shall expire upon the termination of the employment of the agent by the corporation for which he is authorized to act as agent, or in any event, on the thirty-first day of December of the calendar year in which the same shall have been issued, provided, however, if an application for the renewal of any such certificate shall have been filed with the superintendent of insurance before January first of any year, such agent may continue to act as such under such expired cer- tificate until the issuance to him by the superintendent of insur- ance of a new certificate or until five days after the superintendent of insurance shall have refused to issue such certificate and shall have served notice of such refusal on such agent. Service of such notice may be made either personally or by mail, and, if by mail, shall be deemed complete if such notice is deposited in the post- office, postage prepaid, directed to the applicant at the place of residence or business specified in his application. January 1 to 31. Domestic and foreign business corporations report to Secretary of State (Stock Corp. Law, See. 34) as follows: 40 LAWS OF NEW YORK. Every domestic stock corporation and every foreign stock cor- poration doing business within this state, except moneyed and - railroad corporations, shall annually, during the month of January, or, if doing business without the United States, before the first day of May, may make a report as of the first day of January, which will state: 1. The amount of its capital stock and the proportion actually issued. 2. The amount of its debts or an amount which they do not exceed. 3. The amount of its assets or an amount which its assets at least equal. 4. The names and addresses of all the directors and officers of the company, and in the case of a foreign corporation, the name also of the person designated in the manner prescribed by the code of civil procedure, as a person upon whom process against the corporation may be served within this state. Such report shall be made by the president or a vice-president or the treasurer or a secretary of the corporation, and shall be filed in the office of the secretary of state. If such report be not so made and filed, any such officer who shall thereafter neglect or refuse to make and to file such report, within ten days after written request so to do shall have been made by a creditor or by a stockholder of the corporation, shall forfeit to the people the sum of fifty dollars for every day he shall so neglect or refuse. January 1 to 31. Insurance companies which are being run by re- ceivers are investigated by an actuary (Insurance Law, Sec. 79) as follows: An investigation shall annually be made on the first day of January, or within thirty days thereafter, by a competent actuary approved by the superintendent of insurance, into the affairs of such corporation. LAWS OF NEW YORK. 41 January 1 to 31. Underwriters engaged in any form of insurance busi- ness file list of agents with Superintendent of Insur- ance (Insurance Law, Sec. 142, as amended by Laws 1918, Chap. 552) as follows: The term ‘‘ agent ’’ in this section shall include an acknowledged agent or any person, partnership, association or corporation who shall in any manner aid in transacting the insurance business of any underwriter, incorporated or unincorporated, by negotiating for or placing risks or delivering policies or collecting premiums, but shall not include the officers and salaried employees of any such underwriter, who do not receive commissions. Every under- writer, incorporated or unincorporated, engaged in the transaction of any business of insurance within this state, upon the employ- ment or termination of the employment of any person, partnership, association or corporation to act as its agent within this state, shall certify such fact together with the name and address of such agent to the superintendent of insurance; and shall also annually during the month of January, in such form as the superintendent of insurance shall prescribe, file with him a list of the names and addresses of all its agents authorized to act as such within the state. No person, partnership, association or corporation shall as agent act for any such underwriter in this state, unless such under- writer shall have fully complied with the provisions of this chapter nor unless such agent shall have procured an agent’s certificate of authority from the superintendent of insurance. The superin- tendent of insurance shall file in his office evidence of the issuance of every such certificate to an agent, together with evidence of such agent’s authority from each underwriter for whom he is to act. An agent’s certificate of authority shall be issued only upon application filed with the superintendent of insurance, in such form as the superintendent of insurance shall prescribe. Every such certificate shall expire on the thirty-first day of December of the calendar year in which the same shall have been issued, but if the application for the renewal of any such certificate shall have been filed with the superintendent of insurance before January first of any year such agent may continue to act as such under such expired certificate until the issuance to him. by the superin- 49 LAWS OF NEW YORK. tendent of insurance of a new certificate or until five days after the superintendent of insurance shall have refused to renew such certificate and shall have served notice of such refusal on such agent. Service of such notice may be made either personally or by mail, and, if by mail, shall be deemed complete if such notice is deposited in the post-office, postage prepaid, directed to the applicant at the place of residence or business specified in his application. January 1 to 31. Credit unions, and also the Land Bank of the State of New York, hold annual stockholders’ meeting (Banking Law, Secs. 436, 464). January 1 to 31. Corporations licensed to act as agent for foreign imsurance companies which are not authorized to do business in New York pay 3% of premiums received during preceding six months to certain associations (Insurance Law, Sec. 137 as amended) as follows: Each party receiving such license shall, before transacting busi- ness thereunder, execute and deliver to the superintendent a bond to the people of the state, in the penal sum of two thousand dol- lars, with such sureties as the superintendent shall approve, con- ditioned that the said agent will faithfully comply ‘vith all the requirements of this chapter, and will, in the case of fire insurance, pay to the treasurer of the Firemen’s Association of the State of New York, . . . or, where such policies cover risks in cities of over one million inhabitants, having a fire patrol or salvage corps, to the treasurer of such fire patrol or salvage corps, in January and July of each year, a sum equal to three per centum upon the amount of the gross premiums charged to fire policy- holders less the amount of the gross premiums returned to the in- sured upon all policies procured by him during the preceding six months, pursuant to this article; and, in the case of insurance against loss or damage to property caused by bombardment, in- LAWS OF NEW YORK. 43 vasion, insurrection, riot, civil war or commotion, or military or usurped power, will pay a like sum of three per centum to the superintendent of insurance for the uses ,and purposes of the insurance department of the state; January 1 to February 15. Insurance companies of all classes, except life, health and casualty companies, file with Superintendent of Insurance a statement of condition as of December 31st preceding (Insurance Law, Sec. 44) as follows: Every corporation, engaged wholly or in part in the transaction of the business of insurance in this state, whether heretofore or hereafter incorporated by a general or special law, shall annually, on the first day of January, or within two months thereafter, if a corporation under article two of this chapter, and on or before the fifteenth day of February, if a corporation under the other articles of this chapter, file in the office of the superintendent of insurance a statement verified by the oath of at least two of the principal officers of such corporation, showing its condition on the thirty-first day of December then next preceding, which shall be in such form and shall contain such matters as the superintendent shall prescribe. If a foreign corporation incorporated under the laws of a state or country outside of the United States, such oath may be made by the manager thereof within the United States. The superintendent may also address any inquiry to any such insurance corporation or its officers in relation to its doings or con- dition, or any other matter connected with its transactions. Every corporation so addressed shall promptly and truthfully reply in writing to any such inquiries, and such reply shall be verified, if required by the superintendent, by such officer of the corporation as he shall designate. January 1 to February 28. Domestic and foreign life, health and casualty in- surance companies file statement of condition with. Superintendent of Insurance as of December 31st pre- ceding. (For text of law see above.) 44 LAWS OF NEW YORK. January 1 to February 28. Personal loan companies must hold annual stock- holders’ meeting during this period (Banking Law, Sec. 353 as amended). January 1 to June 30. Corporations acting as agent for foreign insurance companies procure certificate of authority from Super- intendent of Insurance (Insurance Law, Sec. 50) as follows: No person or corporation shall act as agent for any foreign in- surance corporation in the transaction of any business of insur- ance within this state, or negotiate for or place risks for any such corporation, or in any way or manner aid such corporation in effecting insurances or otherwise in this state, unless such corpo- ration shall have fully complied with the provisions of this chapter. Every such agent shall, annually, on the first day of January, or within six months thereafter, procure a certificate of authority from the superintendent of insurance, who shall file in his office evidence of fhe issuance of such certificate to the agent aforesaid. Any person or corporation violating the provisions of this section shall forfeit to the people of the state the sum of five hundred dollars for the first offense, and an additional sum of one hundred dollars for each month during which any such person or corpora- tion shall continue to act in violation of this section. This section shall not apply to the agents of corporations transacting business under the provisions of article six of this chapter. January 10. Last day to pay personal property tax and first half of real estate tax without penalty in Nassau county. After this date interest is added thereto at the rate of seven per cent from the preceding December 1st (Laws 1917, Chap. 297, Sees. 31, 33). LAWS OF NEW YORK. 45 First Tuesday of January. Banks and safe deposit companies hold annual stock- holders’ meeting on this date or within ten days there- after (Banking Law, Secs. 122, 324). January 15. Franchise tax due from corporations taxable under Sec. 182: of the Tax Law and payable without penalty for 30 days thereafter (Tax Law, Sec. 197). For text of Sec. 182 and classes of corporations taxable there- under, see page 217. January 31. Comptroller may issue warrant for collection of in- come tax, if unpaid (Tax Law, Sec. 219e) as follows: Tf the tax imposed by this article be not paid within thirty days after the same becomes due, unless an appeal or other proceeding shall have been taken to review the same, the comptroller may issue a warrant under his hand and official seal directed to the sheriff of any county of the state commanding him to levy upon and sell the real and personal property of the corporation owning the same, found within his county, for the payment of the amount thereof, with the added penalties, interest and the cost of executing the warrant, and to return such warrant to the comptroller and pay to him the money collected by virtue thereof by a time to be therein specified, not less than sixty days from the date of the warrant. Such warant shall be a lien upon and shall bind the real and personal property of the corporation against whom it is issued from the time an actual levy shall be made by virtue thereof. The sheriff to whom any such warrant shall be directed shall proceed upon the same in all respects, with like effect, and in the same manner as prescribed by law in respect to executions issued against property upon judgments of a court of record, and shall be entitled to the same fees for his services in executing the warrant, to be collected in the same manner. 46 LAWS OF PENNSYLVANIA. PENNSYLVANIA. January 1. Trust companies which are depositaries of bonds for foreign bond and investment companies make report thereof to the Commissioner of Banking (Act June 7, 1907, Sec. 4, P. L. 446) as follows: No foreign company, corporation, . . . shall be licensed to negotiate, offer for sale, or sell, within this Commonwealth, securi- ties as enumerated and described iu the first section of this act, unless it has deposited with some trust company of this Com- monwealth, to be approved by the Commissioner of Banking, the sum of one hundred thousand dollars in bonds of the United States or of the State of Pennsylvania or of cities, counties, boroughs, » or school districts of this Commonwealth, as security for the ful- filment of its contracts. None of the securities so deposited with the State of Pennsylvania shall be withdrawn by any such com- pany, corporation, or association without the permission of said Commissioner, in writing, and under the seal of his office; and no such withdrawal shall be permitted which will reduce the amount so deposited to less than one hundred thousand dollars. Exchanges of such bonds may be made, from time to time, with the approval of the Commissioner of Banking; and, if any of said bonds are called in for payment, the proceeds thereof shall remain in the hands of the depositary until other bonds of the classes above mentioned shall be substituted in like amount for the bonds so paid; whereupon such depositary shall, with the permission in writing of said Commissioner, pay over such proceeds to the asso- ciation, company, or corporation depositing the bonds. Trust companies acting as depositaries under the provisions of this section shall pay over the income of the bonds, deposited with them as aforesaid, to the company, corporation, or association de- positing them, and shall make report in writing, signed and sworn to by the president or treasurer thereof, to the Commissioner of Banking semi-annually, on the first day of January and the first day of July in each year, setting forth the amounts and kinds of bonds deposited with them, as aforesaid, and by what company, ‘ LAWS OF PENNSYLVANIA. 4T corporation, or association the same have been deposited; and for failure to make such report within thirty days after the time fixed as aforesaid for making such reports, the trust company fail- ing to make the same shall be liable to a penalty of fifty dollars, to be recovered in the name of the Commonwealth, as other penalties are by law recoverable, and the amount so recoverd shall be paid into the State treasury. January 1. Domestic stock insurance companies make report to Auditor General of premiums received during preced- ing six months (Act June 1, 1889, Sec. 24) as follows: That hereafter it shall be the duty of the president, secretary or other proper officer of each and every insurance company or association, incorporated by or under any law of this Common- wealth, except companies doing business upon the purely mutual plan, without any capital stock or accumulated reserve, and purely mutual beneficial associations, whose funds for the benefit of members, their families, or heirs, are made up entirely of the weekly or monthly contributions of their members, and the accumu- lated interest thereon, to make report, in writing, to the Auditor General semi-annually, upon the first days of July and January, in each year, setting forth the entire amount of premiums and assess- ments received by such company or association during the preced- ing six months, whether the said premiums and assessments were received in money or in the form of notes, credits, or any other substitute for money; and every such company or association shall pay into the State Treasury, semi-annually, on the last days of January and July, in addition to any other taxes to which it may be liable under the first and under the twenty-first sections of this act, a tax of eight mills upon the dollar upon the gross amount of said premiums and assessments received from business trans- acted within this Commonwealth; Provided, That said report shall be made under oath or affirmation and that it shall be the duty of the accounting officers of the Commonwealth to add ten per centum to the account of any company or association whose officer shall neglect or refuse for a period of thirty days, to make the said report, or to pay into the State Treasury, the tax imposed by this section. 48 LAWS OF PENNSYLVANIA. January 1. In the city of Philadelphia unpaid taxes of the pre- ceding year become delinquent (Act May 13, 1856, Sec. 8, P. L. 569). January 1 to 31. Annual meeting for election of directors of domestic mutual insurance companies, other than life companies, must be held during this month (Act July 11, 1917, wed, 9: P. su. 1917, p. 782). January 1 to 31. Corporations acting as trustees, ete., make report to Auditor General of certain unclaimed moneys, ete. (Act July 6, 1917; P. L. 1917, p. 725) as follows: Every trustee, guardian, committee, executor, administrator, as- signee, receiver, or other person or corporation acting in any fidu- ciary capacity whatever, shall make a report, under oath, to the Auditor General, in the month of January in each year, of all moneys or other estate held by him or it, under a dry trust, or under or by reason of an active trust which has terminated, the beneficial owner or owners of which moneys or estate shall have been unknown, or the whereabouts thereof shall have been un- known, for a period of seven years next preceding the first day of said month. Every corporation . . . which has received and holds, in any manner not elsewhere in this act mentioned, any money belonging to another person, or which has received and holds any other. property or estate of another person for storage, or safekeeping, or otherwise, in any manner whatsoever, shall make a report, under oath, to the Auditor General, in the month of January in each year hereafter, of all such money or property so far as is known; the amount of which money has not been claimed, or access to which property has not been had, by the person for whom the same is held, within seven or more successive years next pre-~ ceding the first day of said month. LAWS OF PENNSYLVANIA. 49 January 1 to 31. Annual meeting for election of directors of life, fire, marine and casualty insurance companies must be held during this month (Act June 1, 1911, Sec. 12) as fol- lows: The annual meeting for the election of directors shall be held at such time in the month of January as the by-laws of the com- pany may direct; of the time and place of which meeting at least thirty days’ previous notice shall be given to the stockholders or members, by publication not less than three times each in at least two daily or weekly newspapers, and in the legal periodical, if any, designated by the rules of court of the proper county for the publication of legal notices published in the city or county wherein the company is domiciled. At such annual meeting the stock- holders or members shall elect by ballot, from their own number, not less than seven directors, a majority of whom shall be resi- dents of this commonwealth, to serve for one year and until their suecessors are duly chosen. January 1 to 30. Brokers licensed to deal with fire or marine insur- ance companies which are not authorized to do busi- ness in Pennsylvania pay tax of three per cent on pre- miums (Act June 1, 1911, Sec. 28) as follows: Each party receiving such license (i. e. a license to deal with un- authorized companies,—Editor) shall, before transacting any busi- ness thereunder, execute and deliver to the insurance commissioner a bond, in the penal sum of $1,000, with such sureties as the ¢om- missioner may approve, conditioned that said broker will faithfully comply with all requirements of the preceding section of this act, and will pay to the insurance commissioner, in January of each year, a tax of three per centum upon the gross premiums named in the policies delivered to the policyholders and upon all policies procured by him, in accordance with the preceding section, during the year. Deduction shall be allowed for net premiums returneu on policies cancelled. In default of payment of the tax, as herein provided, before the thirtieth day of January of each year, the o i 50 LAWS OF PENNSYLVANIA. insurance commissioner shall demand a statement, under oath, from the broker; and, failing to obtain the same, it shall be his duty to proceed against him, in the same manner as though he had acted without a license. January 1 to 31. Foreign and domestic banks, trust companies, etc., make report to Auditor General of accounts which have not changed for fourteen years (Act June 7, 1915, Sec. 1) as follows: Every person, bank, safe-deposit company, trust company and corporation, organized or doing business under the laws of this commonwealth, except mutual saving-fund societies not having a capital stock represented by shares, which receives or has received deposits of moneys, shall make a report to the Auditor General, under oath, in the month of January of each year hereafter, of such deposits of money which shall not have been increased or- decreased or, if not increased or decreased, on which interest shall not have been credited in the pass book, at the request of the de- positor, within fourteen or more consecutive years next preceding the first day of said month. January 1 to 31. All foreign and domestic corporations, except build- ing and loan associations, make report to Auditor Gen- eral of dividends and debts unpaid for three or more successive years (Act June 7, 1915, Sec. 3) as follows: Every corporation, company, bank, trust company, . . . or- ganized or doing business under the laws of this commonwealth, except building and loan associations, shall make a report to the auditor general, in the month of January of each year hereafter, of all dividends, or profits declared by it to any stockholder or member, and not paid for three or more successive years next pre- ceding the first day of said month; and all debts and interest on debts due by it to any creditor, and not paid for three or more successive years next preceding the first day of said month; and LAWS OF PENNSYLVANIA. 51 of all property held by it for the benefit of another person, which property shall have been demandable by such other person for seven or more successive years next preceding the first day of said month, and shall not have been received by such other person. January. 1 to 31. Foreign surety companies file statement and certifi- cate with Insurance Commissioner (Act June 26, 1895, See. 2, P. L. 343) as follows (in part): Such company, to be qualified to so act as surety or guarantor, must have at least one hundred thousand dollars invested in securities created by the laws of the United States, or by or under the laws of the state or country wherein it is incorporated, or in other safe, marketable and interest-bearing stocks and se- curities, the value of which shall be at or above par and deposited with or held by the Insurance Commissioner or other correspond- ing officer of the state or country where such company is domiciled, or any State of the United States in which it is authorized to transact business, in trust for the benefit of the holders of the obligations of such company; . . . such company shall also, before transacting business in this state under this act, file with the Insurance Commissioner . . . a statement signed and sworn to by its president or one of its vice-presidents and its secretary or one of its assistant secretaries stating the amount of its paid up cash capital, particularly each item of investment, the amount of premium on existing bonds on which it is surety, the amount of liability for unearned portion thereof estimated at fifty per centum of the annual premium on all outstanding pre- miums for one year or less, and pro rata for terms of more than one year, stating also the amount of its outstanding debts of all kinds; . . . Such company shall also annually, in the month of January, file with the Insurance Commissioner a statement similar to that hereinbefore in this section provided for, and shall also furnish him with a certificate from the officer with whom the deposit berein mentioned is reynired to be made, describing such securitics so deposited and the manner in which they are held by him, and stating that he is satisfied that such securities are fullv 52 LAWS OF PENNSYLVANIA. worth cne hundred thousand dollars, and also shall furnish the Insurance Commissioner with such other information touching the condition and credit as he may require, signed and sworn to as in this section required. January 1 to February 28. Foreign corporations file bonus report with Auditor General (Laws 1901, page 150, Secs. 1, 2) as follows: In addition to the duty of complying with the other laws now in force, no corporation . . . liable to pay a bonus under this act shall go into operation or transact any business in this com- monwealth without having first made a report under oath to the auditor general stating specifically, First. The state or country in which incorporated or created. Second. The date of incorporation or organization. Third. The location of its chief office in this state. Fourth. The name and address of its president and treasurer. Fifth. The amount of its bonded indebtedness. Sixth. The amount of its authorized capital stock. Seventh. The amount of its capital paid in. Eighth. The amount of its capital employed wholly in the State of Pennsylvania. And each of said corporations . . . shall make a similar report annually thereafter, not later than the thirtieth day of November of each year. Note: The Act of June 2, 1915, changed date of filing capital stock reports from November 30 to Feb- ruary 28, and the Auditor General’s department has made a rule requiring bonus reports to be filed at the same time, i. e., on or before February 28 for the pre- ceding calendar year. January 1 to February 28. Treasurers of foreign and domestic corporations make report to Auditor General of interest paid to residents of Pennsylvania during preceding calendar LAWS OF PENNSYLVANIA. 53 year on corporate bonds, certificates of indebtedness or other corporate obligations (Act June 8, 1891; Act June 2, 1915). January 1 to February 28. All foreign and domestic corporations except bank- ing corporations of all kinds, building and loan asso- ciations and foreign insurance companies, make report to Auditor General for capital stock tax (Act June 2, 1915, Sec. 1, P. L. 730) as follows: Hereafter, except in the case of banks, savings institution, title insurance or trust companies, building and loan associations and foreign insurance companies, it shall be the duty of the president, vice-president, secretary or treasurer of every corporation having capital stock . . . now or hereafter organized or incorporated by or under any laws of this commonwealth; and of every cor- poration . . . now or hereafter incorporated or organized by or under the law of any other state or territory of the United States, or by the United States, or by any foreign government, and doing business in and liable to taxation within this commonwealth, or having capital or property employed or used in this commonwealth by or in the name of . . . any corporation whatsoever to make annually, on or before the last day of February, for the calendar year next preceding, a report in writing to the auditor general, on a form or forms to be prescribed and furnished by him, stating specifically: / First. The amount of its capital stock at the close of the year for which report is made, together with the highest selling price per share, and the average selling price thereof, during said year. Second. Its debt account. Third. Its income account, together with the disposition of any net income, and its profit and loss statement. Fourth. Its general balance sheet. Fifth. Its real estate and tangible personal property, if any, owned and permanently located outside the commonwealth, and the value of the same; and the value of property, if any, exempt from taxation. 54 LAWS OF PENNSYLVANIA. Sixth. The proportion of its capital stock invested in, and ac- tually and exclusively employed and used in manufacturing within the commonwealth during the year for which said report is made. Seventh. A valuation and appraisal, in the manner hereinafter provided, of the capital stock of the said corporation . . . at its actual value in cash as it existed at the close of the year for which the report is made. The affidavit of any two of the following named officers of such corporation . . . namely, the president, vice-president, secre- tary and treasurer, shall be attached to said report, that the state- ments in said report are true and correct, and that, with fidelity and according to the best of their knowledge and belief, they have estimated, valued and appraised, as shown in said report, the capital stock of the said corporation at its actual value in cash as it existed at the close of the year for which report is made; not less, however, than, first, the average price which said stock sold for during the year; and second, not less than the price or value indicated or measured by net earnings or by the amount of profit made, and either declared in dividends, expended in betterments, or carried into surplus or sinking fund; and third, not less than the actual value indicated or measured by ‘considera- tion of the intrinsic value of its tangible property and assets, and the value of its good will and franchises and privileges as indi- cated by the material results of their exercise, taking also into consideration the amount of its indebtedness: and, in the event of the neglect or refusal of the officers of any corporation to make the report and appraisement to the auditor general as herein provided on or before the last day of March following the month of February in which said report is due to be filed, it shall be the duty of the auditor general and state treasurer to estimate a valuation of the capital stock of such defaulting corporation . . . and settle an account for taxes, penalty and interest thereon, from which settlement there shall be no right of appeal. (The statute also provides for filing reports on a fiscal year basis, if request is made for permission to do so. An extension of not exceeding 30 days may be granted upon proper cause shown. In- tentional failure to make reports for three successive years is a misdemeanor, and will also cause the charter of the defaulting corporation to be forfeited.) LAWS OF PENNSYLVANIA. 5d Note: Time for Filing Reports of Corporations.— The capital stock, bonus and loan reports are by the Act of June 2, 1915, P. L. 730, required to be filed ‘‘ an- nually on or before the last day of February, for the calendar year next preceding.’’ The penalty, however, applies only for default after March 31. The law fur- ther provides that ‘‘ the Auditor General may, upon proper cause being shown, extend the time of filing re- J turns for a period not exceeding thirty days.’’ The Attorney General has held that reports may be filed at any time in March without penalty and also that the Auditor General may extend the time for filing return for a period not exceeding 30 days after March 31. This extension may be granted after March 31, that is, it is not essential to obtain the extension before the expiration of the last day to file without penalty. The Auditor General, in effect, can waive the penalty on all returns filed in April. 19 Dauphin Co. Rep. 397. January 1 to March 31. Local taxes and water rates levied in second-class cities are payable in advance, unless taxpayers elect to pay the same quarterly, as follows: first quarterly pay- ment between January 1 and March 31; second quar- terly payment during the month of April; third quar- terly payment during the month of July; and fourth quarterly payment during the month of October (Act July 20, 1917; P. L. 1917, p. 1173). A discount of 2% is allowed on all taxes and water rates paid during _ January (Same). a 60 days after first Monday of November. Last day for corporations not subject to capital stock 56 LAWS OF PENNSYLVANIA. tax to pay tax of 3% on their income. (For text of law, see page 221.) January 15. In the city of Philadelphia, within one week after this date names of delinquent taxpayers are published (Act May 23, 1874, Sec. 5, P. L. 232). January 15. In the city of Philadelphia, on or after this date the Receiver of Taxes may proceed to collect unpaid taxes of preceding year by distraint or otherwise (Act April 19; 1883, See. 2, P. L. 9). January 25. In the city of Philadelphia the books of the Receiver of Taxes are opened and payment of taxes begins (Act July 21, 1913, Sec. 1, P. L. 863). January 31. Domestic stock insurance companies pay tax of eight mills on the dollar (4/5 of 1%) on gross premiums re- ceived during six months ending on preceding Decem- ber 31. (For text of law see entry under January 1 above.) f FEDERAL LAWS. 57 FEBRUARY. FEDERAL. February 10. Monthly returns required from manufacturers of playing cards and dealers in leaf tobacco. For details see entries in January. February 13. Last day to notify Collector of Internal Revenue of change from calendar year to fiscal year period for making income tax returns (Regulations 45, Art. 26) as follows: If a taxpayer changes his accounting period, he shall as soon as possible give written notice to the collector for transmission to the Commissioner of such change and his reasons therefor. The Commissioner will not approve a change of the basis of com- puting net income unless such notice is given (a) at least 30 days before the due date of the taxpayer’s return on the basis of his existing taxable year and (b) at least 30 days before the due date of his return on the basis of the proposed taxable year. If the change in the basis of computing the net income of the taxpayer is approved by the Commissioner, the taxpayer shall thereafter make his returns upon the basis of the new accounting period in accord- ance with the requirements of section 226 of the statute and his net income shall be computed as therein provided. February 20. Various monthly returns must be made by corpora- tions of different classes. For details see entries in January under ‘‘ 20th day of each month.”’ February 28. Various monthly returns must be made by corpora- tions of different classes. For details see entries in January under ‘‘ Last day of each month.’’ 58 LAWS OF DELAWARE. DELAWARE. February 1. Foreign insurance companies other than life com- panies file statement with Commissioner of Insurance and pay tax of 114% on premiums (Code 1915, Par. 78) as follows: . Each and every foreign insurance company, firm or corporation doing the business of life insurance within the State shall on the twenty-eighth day of February of each year, pay to the Insurance Commissioner, for the use of the State, two per centum on the gross amount of premiums received and assessments, collected by any such insurance company, firm or corporation, or authorized agent for the year immediately preceding the thirty-first day of December next preceding the date herein provided for such pay- ment; and every insurance company, firm or corporation doing any other insurance business within the State, shall on the first day of February of each year, pay to the Insurance Commissioner, for the use of the State, one and one-half per centum on the gross amount of premiums received and assessments collected by any such insurance company, firm or corporation, or authorized agent for the year immediately next preceding the date herein provided for such payment; and each and every such company, firm or cor- poration, shall, at the same time, deliver to the Insurance Com- " missioner a full detailed statement showing the gross amount of premiums received and assessments collected by such company, firm or corporation or authorized agent for the previous year, and such statement shall be verified by the oath or affirmation of the President or Secretary of said Company, duly administered bv some person authorized by the laws of this State to administer oaths. February 20. Assessment lists for local taxes posted in Kent county (Code 1915, Par. 1112). Announcement of the time and place of hearings to revise local assessments in LAWS OF DELAWARE. 59 1 said county is made before this date (Code 1915, Par. 1113). February 28. Domestic surety companies file annual statement with Insurance Commissioner (Code 1915, Par. 615). February 28. All fire insurance companies make return of insur- ance, reinsurance, etc., to Insurance Commissioner (Code 1915, Par. 585) as follows: Every fire insurance company or association shall annually and at such other times as the Insurance Commissioner may require, in addition to all returns now by law required of it or its agents or managers, make a return to the Insurance Commissioner, in such form and detail as may be prescribed by him of all insur- ance, reinsurance or cessions or risk or liability contracted for or effected by it, whether by issue of policy, entry on bordereau, or general participation agreement, or by excess loss reinsurance, or in any other manner whatsoever, upon property located in this State, or covering, whether specified or otherwise, any risk or liability upon property so located; such return to be certified by the oath of its president and secretary, if a company or associa- tion of one of the United States, and if a company or association of a foreign country by the oath of its managers in the United States, as to such reinsurance or cessions effected through its branch office in the United States, and by the oath of its president and secretary, or by officers corresponding thereto at its home office wherever located, as to reinsurance or cessions, as aforesaid, contracted for or effected through the foreign office. The refusal of any such company or association to make the returns herein required, shall be presumptive evidence that it is guilty of violat- ing the provisions of 573, and shall subject it to the penalties prescribed and imposed by this chapter. Note: Although not specified in the statute, the In- surance Commissioner requires the foregoing state- 60 LAWS OF DELAWARE—MAINE. ment to be filed on or before February 28. The penalty for failure to file it is a fine of $500 (Code 1915, Par. 586). February 28. Foreign life insurance companies file statement with Commissioner of Insurance and pay tax of 2% on pre- miums. (For text of law see page 58.) MAINE. First Monday in February. If any tax on real estate or on equitable interests therein remains unpaid on this date next after the as- sessment of the tax, such real estate may be sold to enforce payment thereof (Rev. Stats. 1916, Chap. 11, Sec. 72). February 15. Last day to which Insurance Commisisoner may ex- tend time of insurance companies to file annual report of condition. (For text of law see page 16.) LAWS OF NEW JERSEY. 61 NEW JERSEY. February 1 to 28. Savings banks publish list of unclaimed deposits once a week for three successive weeks (Laws 1906, Chap. 195, Sec. 30) as follows: Every savings bank shall include in its annual report to the commissioner of banking and insurance a sworn statement con- taining the name, the amount standing to his eredit, the last- known place of residence or post-office address and the fact of death, if known, of every depositor who shall not have made a deposit or withdrawn any part of his deposit, or any part of the interest thereon, for a period of ten or more years next preceding, when the amount exceeds the sum of fifty dollars; and the officers of such savings bank shall give notice of these deposits in one or more newspapers published in or nearest to the municipality in which such bank is located, at least once a week for three weeks in succession during the month of February for two suc- cessive years. February 15. Foreign insurance companies, other than life, make report to Commissioner of Banking and Insurance and pay tax of 2% on gross premiums received on business done in New Jersey during preceding calendar year (Laws 1902, Chap. 134, Sec. 65) as follows: Every insurance company, other than life, of another state or foreign country, transacting business in this state, shall, on or before the fifteenth day of February of each year, make to the commissioner of banking and insurance a report, signed and sworn to by an officer of the company, or by its United States manager if a company of a foreign country, stating the gross amount of premiums received by such company, and by each agent thereof, on business of the said company in this state for the preceding 62 LAWS OF NEW JERSEY. calendar year, including all premiums received from other com- panies for reinsurance of them, and the amount of premiums re- turned to the insured during said year on policies canceled, and the amount of premiums paid for reinsurance in other insurance companies of other states or foreign countries, authorized to do business in this state, and shall pay to said commissioner, on or before the fifteenth day of February, a tax of two percentum upon such gross amount of premiums paid, less such returned premiums and such reinsurance premiums paid, which tax shall be in lieu of all other franchise taxes imposed upon said corporation; provided, any taxes hereafter paid to the treasurer of any fire- men’s relief association of this state, by fire insurance companies of other states and foreign countries and their agents, in accord- ance with the provisions of an act entitled ‘‘An act to facilitate the collection from fire insurance companies not organized under the laws of this state, but doing business herein, and from agents and brokers, of certain premiums for the benevolent funds of the several duly incorporated firemen’s relief associations of this state,’?’ approved May second, one thousand eight hundred and eighty-five, shall be considered a part of the tax payable by such companies under this section, and nothing herein contained shall be construed to repeal, alter or change the provisions of the said recited act. And provided, further, that any taxes hereafter paid to the treasurer of any police pension fund by any foreign insurance company or its agents, in accordance with the provisions of an act entitled ‘‘A further supplement to an act entitled ‘An act to remove the fire and police departments in the cities of this State from political control,’ approved May second, one thousand eight hundred and eighty-five, and to provide for the establish- ment, management and distribution of a police pension or retire- ment fund,’’ approved April eighth, one thousand nine hundred and fifteen, shall be considered a part of the tax payable by such company under this section, and nothing herein contained shall be considered to repeal, alter or change the provisions of the said recited act. LAWS OF NEW YORK. 63 NEW YORK. February 1. Savings banks file semi-annual report with Superin- tendent of Banks as of January 1 preceding (Banking Law, Sec. 273) as follows: 1. Semi-annual report. On or before the first day of February and the first day of August in each year every savings bank shall make written report to the superintendent of banks, which report shall be in the form prescribed by the superintendent and shall contain a statement of its condition on the morning of the first day of January and of the first day of July in the said year, respectively. 2. Contents of report. Every such report shall state the amount loaned upon bond and mortgage, and a list of all bonds and mort- gages upon which money has been loaned that have not been previously reported, which list shall show the location of the mortgaged premises. It shall contain a list of all bonds and mort- gages previously reported that since have been paid wholly or in part or have been foreclosed, and the amounts of such payments and the proceeds of such foreclosures. It shall state the original cost, date of purchase, date of maturity, stated rate of interest, the present cost after amortization, par value, and estimated market value, of all stock or bond investments, designating each particular kind of stock or bond; the amounts loaned upon prom- issory notes, upon the pledge of the different classes of securities authorized by this article, with a statenrent of the amount of the securities held as collateral for such loans; the amount invested in real estate, giving the cost of the same, and, in the case of real estate purchased at judicial sale or taken in satisfaction of debts due the savings bank, the actual cash value thereof as ‘ap- praised by its trustees; the amount of cash on hand, and on de- posit in banks or trust companies and the amount deposited in each. The present cost of stock and bond investments shall be deter- mined by amortization as provided in section two hundred and « forty-six of this article. The estimated market value of the stock 64 LAWS OF NEW YORK. or bond investments shall be determined according to the list of securities furnished by the superintendent of banks pursuant to section fifty-three of article two of this chapter. Such report shall state all the liabilities of the savings bank, the amount due to depositors, which shall include any dividend to be credited to them for the six months ending on the day as to which such report is made, and all other debts and claims against the savings bank which are or may be a charge upon its assets. Such report shall state the amount deposited and the amount withdrawn during the twelve months immediately preceding; the whole amount of profits or interest received or earned and the whole amount of dividends credited to depositors, together with the amount of each dividend and the rate at which it was de- elared, the number of accounts opened or reopened, the number closed during the preceding six months, the number of open ac- counts at the end of the period for which said report is made, and such other information as may be required by the superin- tendent. 3. Verification. Every such report shall be verified by the oaths of the two principal officers in charge of the affairs of the savings bank at the time of such verification, which shall state that the report is true and correct in all respects to the best of the knowledge and belief of the persons verifying it, and that the usual business of the savings bank has been transacted at the location required by this article and not elsewhere. 4. Special reports. Every savings bank shall also make such other special reports to the superintendent as he may from time to time require, which shall be in such form and filed at such date as may be prescribed by the superintendent and shall, if required by him, be verified in such manner as he may prescribe. 5. Penalty. If any savings bank shall fail to make any report mentioned by this section, on or before the day designated for the making thereof, or shall fail to include therein any matter required by the superintendent to be stated, such savings bank shall forfeit to the people of the state the sum of one hundred dollars for every day that such report shall be delayed or withheld, and for every day that it shall fail to report any such omitted matter, unless the time therefor shall have been extended by the superintendent as provided by section forty-nine of this chapter. LAWS OF NEW YORK. 65 February 1. s A penalty of five per cent and interest at ten per cent is added to unpaid general property taxes of preceding year (Tax Law, Sees. 82, 89). February 1. On or before this date foreign bankers make report to Tax Commission as of December 31st preceding, and pay to State Treasurer a tax of five per cent on profits of business done in New York (Tax Law, Secs. 191, 192, sub. 6, 197) as follows: Every foreign banker doing business in this state, shall annually pay to the treasurer a tax of five per centum on the amount: of in- terest or compensation of any kind earned and collected by him on money loaned, used or employed in this state by such banker. The term ‘‘ doing a banking business,’’ as used in this section, means do- ing such business as a corporation may be created to do under arti- cle three of the banking law, or doing any business which a corpora- tion is authorized by such article to do. The term ‘‘ foreign banker doing a banking business in this state,’’ as used in this section, includes: 1. Every foreign corporation doing a banking business in this state, except a national bank. 2. Every unincorporated company, partnership or association /of two or more individuals, organized under or pursuant to the laws of another state or country, doing a banking business in this state. 3. Every other unincorporated company, partnership, or asso- ciation, of two or more individuals, doing a banking business in this state, if the members thereof, owning more than a majority interest therein, or entitled to more than one-half of the profits thereof, or who would, if it were dissolved, be entitled to more than one-half of the net assets thereof, are not residents of this state. 4, Every nonresident of this state, doing a banking business in this state, in his own name and right only. 66 LAWS OF NEW YORK. 6. Foreign bankers. Every foreign banker liable to pay a tax undet section one hundred and ninety-one of this chapter shall, on or before February first in each year, make a written report to the tax commission of the condition of his business on Decem- ber thirty-first preceding, stating the amount of tax for which he is liable under this article, and giving in detail the facts required by the last preceding section for the purpose of ascertaining and computing the same. A tax imposed by section 191 of this chapter shall be due and payable*into the state treasury on or before February first in each year. February 1. Agents of foreign fire insurance companies pay tax on premiums to certain fire departments (Insurance Law, Sec. 133) and render account of such premiums. to local fiscal officers (Same, Sec. 134) as follows: Except in the cities of New York and Buffalo there shall be paid to the treasurer of the fire department of every city or village: of this state, whether incorporated or unincorporated, having a fire department, company or organization, for the use and benefit of such department, or to the treasurer of such fire department - within the fire limits, as established by law, of an unincorporated village and when no treasurer of a fire department exists, then to the treasurer or other fiscal officer of such city or village, or in case of an unincorporated village to the supervisor of the town in which such village is situated who, for the purposes of this chapter, shall have the same powers as the treasurers of fire de- partments, on the first day of February of each year, by every person who shall act as agent for or on behalf of any foreign fire: insurance corporation, association or individuals which insure property against loss or injury by fire, the sum of two dollars upon the hundred dollars, and at that rate, upon the amount of all premiums which during the year or part of a year ending on the last preceding thirty-first day of December shall have been received by such agent or person, or received by any other person for him, for any insurance effected or procured by him as such agent or broker against loss or injury by fire upon: LAWS OF NEW YORK. 67 property situate within the corporate limits of such city or vil- lage, or within the fire limits of such unincorporated village. Every city, except the city of New York, village, fire department, fire, hose or hook and ladder company, fire district, or fire district association, firemen’s benevolent associations, exempt or veteran firemen’s associations, and every officer, board of officers and as- sociation receiving any portion of the tax directed to be paid by this section or any similar provision of law, shall within ten days after the receipt of the same, pay to the treasurer of the Firemen’s association of the state of New York, ten per centum of the amount so received by it or him, for the support or maintenance of the Volunteer Firemen’s home at Hudson, New York. No person shall, as agent for any such foreign insurance cor- poration, association or individuals, effect any insurance upon any property situate in any city or village of this state upon which the sums specified in the preceding section are required to be paid; or as such agent procure such insurance to be effected, until he shall have executed and delivered to the officer to whom such account is to be rendered and such payments to be made, a bond to such fire department in the penal sum of five hundred dollars, with such sureties as such treasurer, supervisor or other fiscal officer shall approve, with a condition that he will annually render to such treasurer, supervisor or other fiscal officer, on the first day of February in each year a just and true account, verified by his oath that the same is true, of all premiums which, during the year ending on the thirty-first day of December preceding such report, shall have been received by him or any other person for him, for any insurance against loss or injury by fire upon property situated in such city or village, which shall have been effected or procured by him to have been effected by any such cor- poration, association or individuals, and that he will annually, on the first day of February in each year, pay to such treasurer or supervisor or other fiscal officer two dollars upon every hundred dollars, and at that rate upon the amount of such premiums. If _any such agent shall desire to transact business in more than one city, town or village, he may, instead of executing and delivering a separate bond for each such city, town or village, as required by this section, execute and file with the superintendent of in- asurance a bond in the penal sum of fifteen hundred dollars, with such sureties as the superintendent shall approve, conditioned 68 LAWS OF NEW YORK. that he will make his account and pay the sums so required to be paid in each city, town or village in which he shall effect in- surance. Any such corporation, association or individual, having authority to transact .business in this state, on filing a bond in the penal sum of two thousand five hundred dollars with the superintendent of insurance that it will make. its account and pay the sum so required to be paid, may effect such insurance in any city, town or village wherein it has no agent. February 1. Tax on grounds used for shell-fisheries is levied and assessed at the rate of 25¢ per acre, and is payable within 60 days thereafter (Conservation Law, See. 308). February 1. If general property tax levied on lands for the sec- ond year preceding remains unpaid on this date, Comp- troller may sell them. The owner or occupant has one year after the sale in which to redeem (Tax Law, Sees. 120, 127) as follows: The comptroller may sell any lands heretofore or hereafter returned to him for nonpayment of any tax thereon, if such tax and the interest thereon, or any part thereof shall remain unpaid for one year after February first, following the year in which the tax was levied. He shall make out a list of all such lands in any county and transmit to the county treasurer thereof, at least eighteen weeks before the commencement of the sale, a number of copies of such list sufficient to furnish five copies to the county treasurer, two copies to the counfy clerk and two copies to the clerk of each town and city in which such lands are situated. The county treasurer shall transmit the same to such officers. The comptroller shall publish such list with a notice that on a day to be specified therein and the succeeding days so much of such lands as may be necessary to discharge the taxes, interest, and charges due thereon at the time of sale, will be sold at public LAWS OF NEW YORK. 69 auction at the capitol in the-city of Albany. Such list shall be inserted in two newspapers published in such county, once in each week for twelve successive weeks prior to the commencement of the sale, and in the body of the newspapers and not in a supple- ment. If there are not two newspapers published in the county, the publication shall be in two newspapers which the comptroller shall determine to be most generally circulated in the county. Due proof of the publication of such list and notice in each news- paper shall be made and filed in the office of the comptroller within twenty days after the last publication. The expense of printing, publishing and transmitting such list shall be audited by the comptroller and paid out of the state treasury. No error in the description of the lands in any list published in any news- paper shall render any sale void or in any manner affect its validity. The owner or occupant of any lands sold by the comptroller for taxes, or any other person having an interest therein at the time of the sale, may redeem the same from such sale at any time within one year after the last day of the sale, by paying to the state treasurer, on the certificate of the comptroller for the use of the purchaser, his heirs or assigns, the sum mentioned in the certificate of sale therefor, with interest thereon at the rate of ter per centum per annum, after the date of such certificate of sale. The purchaser of any wild, vacant or unoccupied land at any such sale, or his assigns, shall not enter upon or exercise acts of owner- ship on such land, until the expiration of one year allowed for the redemption thereof from such sale. A person having an in- terest in an undivided part of any tract, lot or piece of land so sold, or in an undivided share in any tract or lot of land out of which an undivided part shall have been sold, may redeem such undivided part or share by paying such proportion of the pur- chase-money and interest as shall be in proportion to the part or share of the lands sold which he shall claim. Every person having an interest in a specific part of any tract, lot or piece of land, so sold, or lot of land out of which an undivided part may have been sold for taxes charged on the whole tract or lot, may redeem such specific part by paying such proportion of the purchase-money and interest as his quantity of acres shall bear to the whole quantity of acres sold, or to the whole quantity taxed. Any person claim- ing a specific part of any tract or lot of land, out of which a 70 LAWS OF NEW YORK. specific part belonging to some other person shall have been sold for taxes charged on the whole tract or lot, may exonerate him- self from all liability to contribute to the owner of the part sold, by paying to the comptroller at any time before the expiration of the time allowed for the redemption thereof, such proportion of the purchase-money and interest as his quantity of acres shall bear to the whole quantity taxed, and such payment shall operate as a redemption of this proportionate part of the lands sold accord- ing to the amount paid. Upon a partial redemption under this section, the quantity sold shall be reduced in proportion to the amount paid on such partial redemption and the comptroller shall convey accordingly. February 1. On or before this date foreign and domestic invest- ment companies, safe deposit companies, personal loan companies, savings and loan associations and credit unions file report with Superintendent of Banks as of the morning of January 1st preceding, unless an ex- tension of time is granted as provided in Banking Law, Sec. 49 (Banking Law, Secs. 298, 329, 365, 413, 477). The text of the section (Sec. 329) relating to safe de- posit companies is given below. Those which relate to the other classes of corporations above mentioned are practically identical, except that in the case of credit unions the penalty for failure to report is $5.00 per day instead of $10.00. On or before the first day of February in each year, every safe deposit company shall make a written report to the superintendent of banks which shall contain a statement of its condition on the morning of the first day of January in said year. Every such report shall be verified by the oaths of the two principal officers in charge of the affairs of the safe deposit éompany at the time of such verification, which shall state that the report is true and cor- rect in all respects to the best of the knowledge and belief of the persons verifying it, and that the usual business of the safe deposit LAWS OF NEW YORK. val company has been transacted at the location required by this article and not elsewhere. Every safe deposit company shall also make such other special reports to the superintendent as he may from time to time require, which shall be in sich form and filed at such date as may be pre- seribed by the superintendent and shall, if required by him, be verified in such manner as he may prescribe. : If any safe deposit company shall fail to make any report re- quired by this section on or before the day designated for the making thereof, or shall fail to include therein any matter required by the superintendent, it shall forfeit to the people of the state the sum of ten dollars for every day that such report shall be delayed or withheld, and for every day that it shall fail to report any such omitted matter, unless the time therefor shall have been extended by the superintendent as provided by section forty-nine of this chapter. 7 That part of section 49 which is above referred to reads as follows: 2. He may extend for not exceeding ten days in the case of a bank, trust company, private banker or individual banker, and for not exceeding twenty days in the case of any other corporation to which this chapter is applicable or of a personal loan broker, the time within which any such corporation, banker or broker is required to make and file any report to the superintendent. February 1. Last day for Board of Taxes and Assessments in New York City to render decision on applications to review assessments for current year. (For text of law see page 205.) February 11. Last dav for foreign and domestic investment com- panies. safe deposit companies, personal loan com- panies, savings and loan associations and credit unions 72 LAWS OF NEW YORK. to file annual report with Superintendent of Banks if extension has been granted. (For text of law see page 70.) February 14. Last day to pay franchise taxes payable under Tax Law, Sec. 182, without penalty. After this date a pen- alty of five per cent plus one per cent per month is added to the tax (Tax Law, Sec. 197). (For text of section 182 and classes of corporations taxable there- under see page 217.) February 15. Last day for insurance corporations of all classes ex- cept life, health and casualty companies to file state- ment with Superintendent of Insurance as of December 31st preceding. (For text of law see page 43.) February 28. Last day for life, health and casualty insurance cor- porations to file statement with Superintendent of In- surance as of December 31st preceding. (For text of law see page 43.) LAWS OF PENNSYLVANIA. 73 PENNSYLVANIA. February 1. In the city of Philadelphia 1% plus interest from December 31st preceding is added to unpaid taxes of previous year (Act April 19, 1883, Sec. 13, P. L. 12). Vi February 28. / Last day for foreign and domestic corporations to : ' file capital stock reports and reports of corporate loans, anless extension is obtained from Auditor General. (For text of law see page 53.) February 28. Last day for foreign corporations to file bonus re- port, unless extension is obtained from Auditor Gen- eral. (For text of law see page 52.) . G4 FEDERAL LAWS. MARCH. FEDERAL. March 1. Corporations deriving income from child labor must make return thereof (Rev. Act 1918, Sees. 1200, 1204, 1205, 1207) as follows: Sec. 1200. That every person (other than a bona fide boys’ or girls’ can- ning club recognized by the Agricultural Department of a State and of the United States) operating (a) any mine or quarry situated in the United States in which children under the age of sixteen years have been employed or permitted to work during any portion of the taxable year; or (b) any mill, cannery, work- shop, factory, or manufacturing establishment situated in the United States in which children under the age of fourteen years have been employed or permitted to work, or children between the ages of fourteen and sixteen have been employed or permitted to work more than eight hours in any day or more than six days in any week, or after the hour of seven o’clock post meridian, or before the hour of six o’clock ante meridian, during any portion of the taxable year, shall pay for each taxable year, in addition to all other taxes imposed by law, an excise tax equivalent to 10 per centum of the entire net profits received or accrued for such year from the sale or disposition of the product of such mine, quarry, mill, cannery, workshop, factory, or manufacturing estab- lishment. Sec. 1204. That on or before the first day of the third month following the close of each taxable year, a true and accurate return under oath shall be made by each person subject to the provisions of this title to the collector for the district in which such person has his prin- cipal office or placeof business, in such form as the Commissioner, with the approval of the Secretary, shall prescribe, setting forth specifically the gross amount of income received or accrued during such year from the sale or disposition of the product of any mine, quarry, mill, cannery, workshop, factory, or manufacturing estab- lishment, in which children have been employed subjecting him to the tax imposed by this title, and from the total thereof deducting FEDERAL LAWS. 75 the aggregate items of allowance authorized by this title, and such other particulars as to the gross receipts and items of allowance as the Commissioner, with the approval of the Secretary may require. Sec. 1205. That all such returns shall be transmitted forthwith by the col- lector to the Commissioner, who shall, as soon as practicable, assess the tax found due and notify the person making such return of the amount of tax for which such person is liable, and such person shall pay the tax to the collector on or before thirty days from the date of such notice. Sec. 1207. That as used in this title the term ‘‘taxable year ’’ shall have the same meaning as provided for the purposes of income tax in section 200. The first taxable year for the purposes of this title shall be the period between sixty days after the passage of this act and December 31, 1919, both inclusive, or such portion of such period as is included within the fiscal year (as defined in section 200) of the taxpayer. March 1. Corporations make return in duplicate to Collector of Internal Revenue on form 1013 of taxes withheld from interest on corporate bonds or other obligations during the preceding calendar year (Regulations 45, Art. 370) as follows: (a) Every withholding agent shall make an annual return to the collector of the tax withheld from interest on corporate bonds or other obligations on or before March 1 on form 1013 (revised). He shall also make a monthly return on form 1012 (revised) on or before the 20th day of the month following that for which the return is made. The original ownership certificates, or the sub- stitute certificates where authorized, must be forwarded to the collector with the monthly return. (b) Every person required to deduct and withhold any tax from income other than such bond interest shall make an annual return thereof to the collector on or before March 1 on form 1042 (revised), accompanied by a separate report on form 1098 (revised) for each nonresident alien individual or foreign corporation not engaged in trade or business 76 FEDERAL LAWS. within the United States and not having any office or place of business therein, to whom income other than’ bond interest was paid during the previous taxable year. In every case of both classes the tax withheld must be paid on or before June 15 of each year to the collector. March 1. Corporations make return in duplicate to Collector of Internal Revenue on form 1042 of taxes other than interest on corporate bonds, ete., deducted from income paid during the preceding calendar year (Regulations 45, Art. 370. For text see under preceding entry). March 10. Monthly returns required from dealers in leaf to- bacco and manufacturers of playing cards. For de- tails see entries in January. March 15. Corporations which during the preceding calendar year have made payments of interest on corporate bonds, mortgages, etc., on which no tax has been with- held make return thereof to Commissioner of Internal Revenue (Sorting Division) on form 1096B (Regula- tions 45, Art. 373) as follows: Where a debtor corporation or its duly authorized withholding agent has made payments of interest on its bonds, but in certain instances has been required to withhold no tax, the ownership certificates on form 1001 (revised) filed in connection with such payments shall be transmitted directly to the Commissioner (Sort- ing Division), accompanied by a return on form 1096A showing the number of ownership certificates thus transmitted and the total amount of interest paid. This return shall be made by the 20th day of each month following that for which the return is made and need not be sworn to. An annual return shall be for- warded to the Commissioner not later than March 15 of each year on form 1096B, on which shall be given a summary of the monthly returns. To the extent that there has been actual withholding of the tax returns should be made in accordance with article 370. FEDERAL LAWS. UT March 15. / Corporations make returns of information of pay- ments of income of $1,000 or over to Commissioner of Internal Revenue (Rev. Act 1918, Sec. 256; Regula- tions 45, Art. 1071. See ‘‘ Notes on Returns of Infor- mation ’’ on page 299 hereof). March 15. - Returns due from corporations of income received during preceding calendar year, unless extension of time has been obtained or return is made on a fiscal year basis. If a corporation is in the hands of a re- ceiver, the receiver makes the return. Corporations acting as executor, trustee, guardian, etc., must also make returns in that capacity (Rev. Act 1918, Secs. 227 (a), 241; Regulations 45, Arts. 421-425) as follows: Sec. 227. (a) That returns shall be made on or before the fifteenth day of the third month following the close of the fiscal year, or, if the return is made on the basis of the calendar year, then the return shall be made on or before the fifteenth day of March. The Commissioner may grant a reasonable extension of time for filing returns whenever in his judgment good cause exists and shall keep a record of every such extension and the reason therefor. Except in the case of taxpayers who are abroad, no such extension shall be for more than six months. Sec. 241. (a) That returns of corporations shall be made at the same time as is provided in subdivision (a) of section 227. (b) Returns shall be made to the collector of the district in which is located the principal place of business or principal office or agency of the corporation, or, if it has no principal place of business or principal office or agency in the United States, then to the collector at Baltimore, Maryland. 78 FEDERAL LAWS. Art, 421. Every fiduciary, or at least one of joint fiduciaries, must make a return (a) for the individual whose income is in his charge, if the net income of such individual is $2,000 or over, if married and living with husband or wife, or is $1,000 or over in other cases, or (b) for the estate or trust for which he acts, if the net income of such estate or trust is $1,000 or over or if any beneficiary of such estate or trust is a nonresident alien. The return in case (a) and also in case (b) if the tax is payable by the fiduciary shall be on form 1040 (revised), except that it may be on short form 1040A (revised) where the net income does not exceed $5,000. The return shall be on form 1041 (revised) in case (b) if the tax is payable by the beneficiaries. See section 219 of the statute and articles 341-344. If the net income of a decedent from the be- ginning of the taxable year to the date of his death was $1,000, if unmarried, or $2,000, if married, the executor or administrator shall make a return for such decedent. Art. 422. A fiduciary acting as the guardian of a minor having a net in- come of $1,000 or $2,000, according to the marital status of such person, must make a return for such minor on form 1040 (revised) or 1040A (revised) and pay the tax, unless such minor himself makes a return or causes it to be made. A fiduciary acting as the committee of an insane person having an income of $1,000 or $2,000, according to the marital status of such person, must make a return for such incompetent on form 1040 (revised) or 1040A (revised) and pay the tax. In either case, if the fiduciary is also acting for other beneficiaries, such a return shall be rendered in addition to the returns required by the preceding article. Art. 423. In the case of two or more trusts the income of which is taxable to the beneficiaries, which were created by the same person and . are in charge of the same trustee, the trustee shall make a single return on form 1041 (revised) for all such trusts, notwithstanding that they may arise from different instruments. When, however, a trustee holds trusts created by different persons for the benefit of the same beneficiary, he shall make a return on form 1041 (revised) for each trust separately. FEDERAL LAWS. 79 Art. 424, A receiver who stands in the stead of an individual or corpora- tion must render a return of income and pay the tax for his trust, but a receiver of only part of the property of an individual or corporation need not. If the receiver acts for an individual the return shall be on form 1040 (revised) or 1040A (revised). When acting for a corporation a receiver is not treated as a fiduciary, and in such ease the return shall be made as if by the corporation itself. See section 239 of the statute. A receiver in charge of the business of a partnership shall render a return on form 1065 (revised). A receiver of the rents and profits appointed to hold and operate a mortgaged parcel of real estate, but not in control of all the property or business of the mortgagor, and a receiver in partition proceedings, are not required to render returns of in- come. In general, statutory receivers and common law receivers of all the property or business of an individual or corporation must make returns. Every receiver for an individual, partner- ship, or corporation, whether or not of all the property or business, must render a return of information under section 256 of the statute. Art. 425. Where a citizen or resident fiduciary has the distribution of trust income for which there is a nouresident alien beneficiary, the fiduciary must make a return on form 1040 (revised) or 1040A (revised) for such nonresident alien and pay the tax. If there are +wo or more beneficiaries, the fiduciary shall render a return on form 1041 (revised) and also a return on form 1040 (revised) or 1040A (revised) for each nonresident alien beneficiary. March 15. First quarter of income and excess profits tax due and payable, unless extension of time has been ob- tained or return is made on a fiscal year basis (Rev. Act 1918, Sec. 250 (a); Regulations 45, Arts. 1001 to 1007). The text of these articles is as follows: 80 FEDERAL LAWS. Art. 1001. The tax, unless paid at the source, is to be paid to the collector in four equal installments, the first at the time for filing the return and the others at intervals of three months thereafter, or it may at the option of the taxpayer be paid in a single payment on or before the time for filing the return or such time as extended. An extension of time for filing a return may postpone the date for payment of the first installment, but will not postpone the date of payment of the other installments unless so specified in each case. Upon failure to pay an installment on time, all of the tax remain- ing unpaid becomes due and payable upon notice and demand. Upon recomputation of the tax, if the amount already paid exceeds the correct amount of the installment or of the whole tax, the excess shall be credited against subsequent installments or other similar taxes then due from the taxpayer or, if there is no such installment or tax, shall be refunded to him; but if the amount already paid is less than the correct amount of the installment or tax then due, the difference shall be paid upon notice and demand. When the due date for the payment of taxes falls upon Sunday or a legal holiday, the due date will be the day next following such Sunday or legal holiday. Art. 1002. Section 3176 of the Revised Statutes, as amended by section 1317 of the Revenue Act of 1918, provides: If any person, corporation, company or association fails to make and file a return or list at the time prescribed by law or by regu- lation made under authority of law, or makes, willfully or other- wise, a false or fraudulent return or list, the collector or deputy collector shall make the return or list from his own knowledge and from such mformation as he can obtain through testimony or otherwise. In any such case the Commissioner may, from his own knowledge and from such information as he can obtain through testimony or otherwise, make a return or amend any return made by a collector or deputy collector. Any return or list so made and subscribed by the Commissioner, or by a collector or deputy collector and approved by the Commissioner shall be prima facie good and sufficient for all legal purposes. , If the failure to file a return or list is due to sickness or absence, the collector may allow such further time, not exceeding thirty days, for making and filing the return or list as he deems proper. FEDERAL LAWS. 81 The Commissioner of Internal Revenue shall determine and as- sess all taxes, other than stamp taxes, as to which returns or lists. are so made under the provisions of this section. In case of’any failure to make and-file a return or list within the time prescribed by law, or prescribed by the Commissioner of Internal Revenue or the collector in pursuance of law, the Commissioner of Internal Revenue shall add to the tax 25 per centum of its amount, except that when a return is filed after such time and it is shown that the failure to file it was due to a reasonable cause and not to. willful neglect, no such addition shall be made to the tax. In case a false or fraudulent return or list is willfully made, the Commissioner of Internal Revenue shall add to the tax 50 per centum of its amount. The amount so added to any tax shall be collected at the same: time and in the same manner and as part of the tax unless the tax has been paid before the discovery of the neglect, falsity, or fraud, in which case the amount so added shall be collected in the same manner as the tax. : (End of Sec. 3176, Revised Statutes. ) Accordingly, if a return is not made on time or is false, and the collector or Commissioner makes a return, the amount of tax de- termined to be due under such substitute return shall be paid in full upon notice and demand by the collector. See further articles. 441-445, 1004 and 1005. Art. 1008. e Where the time for the payment of any installment of the tax is postponed at the request of the taxpayer, interest at the rate of 6 per cent per annum is added from the original due date. If an understatement of the tax in the return is due to the neg-. ligence of the taxpayer, but without intent to defraud, interest at the rate of 12 per cent per annum is added to the amount of the deficiency of each installment from the time the installment was due. If any tax remains due and unpaid for ten days after notice and demand by the collector, or in the case of the first installment as computed by the taxpayer remains due and unpaid for ten days, interest at the rate of 12 per cent per annum is added from the due date, except that the interest on any amount which is the 82 FEDERAL LAWS. subject of a bona fide claim for abatement shall be at the rate of 6 per cent per annum, and except that no interest is added in the case of estates of insane, deceased or insolvent persons. But if any part of a claim for abatement on the ‘ground of a loss in inventory under section 214 (a) (12) of the statute is disallowed, interest from the due date at the rate of 12 per cent per annum will be added to the tax not abated; and interest is to be added in all cases in which the demand of payment is made of the tax- payer personally, although he subsequently dies, or becomes in- sane or insolvent, so that collection of the tax is made from his estate in the hands of his representative. See further articles 1005 and 1006. Art. 1004. In case of failure to make a return on time, a penalty of 25 per cent of the amount of the tax is added to it, unless the return is later filed and the failure to file it is satisfactorily shown to be due to a reasonable cause. See article 1002. Two classes of de- linquents are liable to the penalty: (a) those who do not file returns and for whom returns are made. by the collector or Com- missioner; and (b) those who file tardy returns and are unable to show reasonable cause for the delay. Taxpayers wishing to avoid the penalty must make an affirmative showing of the facts alleged as a reasonable cause for failure to make a return on time in the form:of an affidavit under oath which should be attached to the return. Where an overdue return is filed without such an affidavit, the collector may notify the taxpayer that unless within ten days an affidavit %& filed fully explaining the cause of delin- quency, the 25 per cent penalty will be assessed. If the explana- tion is not then furnished, the 25 per cent penalty will be assessed with the tax. If the explanation is furnished with the return or upon the collector’s demand, the collector, unless otherwise directed by the Commissioner, will forward the affidavit with the return, and if the Commissioner determines that the delinquency was not due to a reasonable cause the 25 per cent penalty will be assessed. ** Reasonable cause ’’ is such a condition of fact that had the taxpayer in default exercised ordinary business care and prudence it would have been impracticable ir impossible for him to file a return in the prescribed time. See also section 253 of the statute and article 1041. FEDERAL LAWS. 83, Art. 1005. (a) If an understatement of the amount of the tax in a return of income is due to negligence on the part of the taxpayer, but without intent to defraud, a penalty of 5 per cent of the amount of the deficiency is added; but (b) if the understatement of the tax is false with intent to evade the tax, a penalty of 50 per cent of the amount of the deficiency is added. (c) In ease a false or fraudulent return is willfully made, other than as specified in (b) above, a penalty of 50 per cent of the amount of the tax is added. See articles 1002 and 1003. In general, negligence is attributable to the taxpayer if he computes the tax in disregard of the instruc- tions on the return form or otherwise incorrectly, unless he can show that his error was due to an honest misunderstanding of the facts or the law of which an average reasonable man might be capable. See also section 253 of the statute and article 1041. Art. 1006. If any tax or installment thereof remains due and unpaid for ten days after notice and demand by the collector (the instructions on the return serve as notice and demand in the case of the first installment as computed by the taxpayer), a penalty of 5 per cent is added. When, however, upon an assessment of a tax and de- mand made for payment, a bona fide claim for its abatement is filed within 10 days after such demand, no penalty is imposed. Upon receipt of a notice of rejection of the ‘claim (or so much thereof as is not allowed), the collector will notify the claimant and demand the payment of the tax. If the tax is not then paid within 10 days, the 5 per cent penalty will be assessed on the amount of tax not abated. If abatement of the entire tax as- sessed is not demanded in a claim, and the balance of the tax is not paid within the required 10 days, the 5 per cent penalty will immediately acerue on such balance. See also article 1003. The estate of a deceased person, regardless of the date of his death, or of an insane or insolvent person, cannot be charged with lia- bility to the 5 per cent penalty on account of his or the fiduciary’s delinquency in making payment of taxes. Where a warrant of distraint is served, $5 is added. For other penalties see section 253 of the statute and article 1041. 84 FEDERAL LAWS. Art. 1007. The service of a notice and demand by the collector on form 17 is complete upon mailing it, and the time within which the tax must be paid runs from the date of mailing the notice and not of its receipt by the taxpayer. But payment for the tax must actually reach the collector within the ten day period, and merely mailing a remittance before the expiration of the ten days is not sufficient. So, to avoid the prescribed penalties, no more than ten days may elapse after the mailing of the notice before the pay- ment is in the collector’s hands. See section 3184 of the Revised Statutes. By reason, however, of absence from their homes or places of business in foreign countries or in the military or other service of the country and the consequent delay in receiving mail, or in the case of a corporation, by reason of the location of its office to which the notice was addressed at a distance from the * collector’s office, it is impossible for many persons to receive a notice and demand and to make payment of the tax so that such payment may be received by the collector within the ten day period following the service of notice and demand, and in all such cases the collector will enter on the notice as the date on which the tax becomes due and payable a date as nearly as possible ten days after the time that the notice should be received in the ordi- nary course of the mails by the taxpayer. In such cases when it appears that a remittance for the tax was placed in the mails within the ten day period after the date specified in the notice, and in cases where tardiness is occasioned because the notice was not delivered in due time by reason of delay in the mail and satisfactory evidence of that fact is furnished, the penalty and interest will not be collected. March 20. Various monthly returns must be made by corpora- tions of different classes. For details see entries in January under ‘‘ 20th day of each month.’’ March 31. Various monthly returns must be made by corpora- tions of different classes. For details see entries in January under ‘‘ Last day of each month.’’ LAWS OF DELAWARE. 85 DELAWARE. March 1. All insurance companies file with Insurance Commis- sioner financial statement covering preceding calendar year (Code 1915, Par. 574) as follows: Every insurance company doing the business of insurance within this state shall annually on or before the first day of March de- liver to the Insurance Commissioner a full detailed statement of the condition and business of such company for the year ending on the previous thirty-first day of December, which statement shall be verified by the oath or affirmation of the president or vice- president and secretary or other officer. Provided, that of the statement of the United States branch of any foreign company certification by the manager of said branch in the United States shall be sufficient. Said statement shall be on blanks prepared and furnished by the Insurance Commissioner for that purpose, and shall contain the name of the company, where located, when and where incorporated or organized, the amount of paid-up capital, with a detailed statement of all assets, showing the amount of cash on hand, in bank, or in the hands of agents, the amount and actual value of real estate owned by the company, and the amount of incumbrances thereon; the number of govern- ment, state and municipal and other bonds owned, and the market and par value of the same; the number of shares of stock of every kind owned, and the market value and par value of the same; the amount loaned on bonds and mortgages, with the actual ‘cash value of the property mortgaged, and whether such property is subject to any other lien or liens paramount to such mortgage, and the aggregate amount of such paramount liens; the amount loaned on all other securities, stating the name and kind of secur- ities, and the amount loaned on each; also stating the liability and indebtedness of such company; the amount of losses against the company adjusted and unpaid, the amount in process of ad- justment or in suspense, including all reported and supposed losses, ‘losses resisted, including interest and other expenses thereon; and all other liabilities, claims and demands whatsoever against the company, and all other information necessary and proper to fully set forth a full and fair exhibit of its business and standing. 86 LAWS OF DELAWARE. First Tuesday of March. Board of Revision holds hearing to revise local as- sessments in Kent county (Code 1915, Par. 1113). First Tuesday of March. Levy courts of New Castle and Sussex counties sit to hear tax appeals (Code 1915, Par. 1062). Second Tuesday of March. Levy court of Kent county sits to hear tax appeals (Code 1915, Par. 1062). Third Tuesday of March. Franchise taxes become due and payable; may be paid without penalty until July 1 (Code 1915, Par. 106) as follows: The Secretary of State shall certify and report to the State Treasurer, on or before the third Tuesday of March in each year, a statement of the basis of the annual license fee or franchise tax determined from the annual report filed by each corporation ase hereinbefore required and the amount of tax due thereon respec- tively, at the rate fixed by section 68 of this chapter; such tax shall thereafter become due and payable and it shall be the duty of the State Treasurer to immediately notify all corporations of the amount of such license fee or franchise tax due and payable by them and to receive the same; if the tax of any corporation or company remains unpaid on the first day of July after the same becomes due, the same shall thenceforth bear interest at the rate of one per centum for each month until paid; the Secretary of State shall have power to inquire into the truth or falsity of every report required to be filed by sections 66 and 82 of this chapter as may be necessary to carry out the provisions hereof; and may require the production of the books of any such corpora- tion and may swear or affirm and examine witnesses in relation thereto. LAWS OF MAINE. 87 MAINE. March 1. Foreign corporations, except banking corporations of all kinds, surety, safe deposit, insurance and public service corporations, pay to the Treasurer of State for the use of the estate a license fee of ten dollars (Rev. Stats..1916, Chap. 51, See. 111). March 1. On or before this date fraternal beneficiary associa- tions report to Insurance Commissioner their financial transactions for the preceding calendar year (Rev. Stats. 1916, Chap. 54, Sec. 16). Note: This does not apply to Masons, Odd Fellows,. or Knights of Pythias not having as their principal object the issuance of insurance certificates. (Same, Sec. 19.) Penalty for failure to file report is $5.00 fine for each day’s neglect. March 1. Domestic business corporations which have failed to * pay their franchise tax for the preceding year are re- ported by the Treasurer of State to the Attorney-Gen- eral for forfeiture proceedings (Rev. Stats. 1916, Chap. 9, Sec. 22) as follows: The treasurer of state, whenever any tax due under the four preceding sections from any company shall have remained in ar- rears for a period of six months after the same shall have be- come payable, shall report the same to the attorney-general, who shall forthwith apply to the supreme judicial court in equity in 8 LAWS OF MAINE. the name of the state, for the forfeiture of the charter of such -delinquent corporation, and said court shall order such notice to all parties interested as it may deem proper and shall have juris- ‘diction in said cause to appoint receivers, issue injunctions and pass interlocutory decrees and orders according to the usual course of proceedings in equity, and to make such final orders and de- erees as the nature of the case may require. Last Saturday of March. Domestic trust and banking companies make semi- annual return to Bank Commissioner as of this date (Rev. Stats. 1916, Chap. 9, See. 71) as follows: Every trust and banking company incorporated under the laws of this state, shall, semi-annually on the last Saturdays of March and September, make a return signed and sworn to by its treasurer, of the average amount of its time deposits bearing interest at the rate of three per cent or more per annum for the six months pre- ceding each of said days, together with a statement in detail of” the amount of United States bonds, the shares of corporation stocks such as are by law of this state free from taxation to the stockholders. For wilfully making a false return, the treasurer of the corporation forfeits not less than five hundred, nor more than five thousand dollars. Said return shall be made to the bank commissioner, on or before the first Saturdays of April and Oc- tober, and within thirty days thereafter, he shall fix and determine the market values of the United States bonds, and the shares of corporation stocks returned as aforesaid, and transmit said re- turns with such values so determined to the board of state asses- sors for the assessment required by the following section. The board of state assessors shall thereupon deduct from the average amount of the time and interest bearing deposits so re- turned, an amount equal to the value so determined of the United States bonds, all bonds issued after the first day of February, nineteen hundred and nine, by this state, or any county, munici- pality, village corporation or water district therein, the shares of corporation stocks such as are by law of this state free from taxa- tion to stockholders, and upon the balance so found, assess an annual tax of one-half of one per cent; one-half of said tax shall be assessed on or before the fifteenth day of May on the balance LAWS OF MAINE. 89 of said deposits so ascertained for the six months ending on and including the last Saturday of March, and one-half on or before the fifteenth day of November on the balance of said deposits so ascertained for the six months ending on and including the last Saturday of September. The board of state assessors shall there- upon certify said assessment to the treasurer of state, who shall forthwith notify the several trust and banking companies inter- ested, and all taxes so assessed shall be paid semi-annually within ten days after the fifteenth days of-May and November. If this return is not made, ‘‘ the Board of State As- sessors shall make an assessment of a state tax upon such corporation . . . on such valuation .. . as they think just, with such evidence as they may ob- tain, and such assessment shall be final.’’ (Same, Sec. 75.) Last Saturday of March. Savings banks make semi-annual return of deposits etc., to Bank Commissioner as of this date (Rev. Stats. 1916, Chap. 9, Sees. 59, 60) as follows: Sec. 59. Every savings bank and institution for savings incorporated under the laws of the state, shall, semi-annually, on the last Saturdays of March and September, make a return, signed and sworn to by its treasurer, of the average amount of its deposits, reserve fund and undivided profits for the six months ending on each of said days, together with a statement in detail of its assets, loans and investments and its deposits within and without the state, in separate columns. Said return shall be made to the bank commissioner on or before the first Saturdays of April and October and within thirty days thereafter, he shall fix and deter- mine the market values of the investments aforesaid and transmit the same with such values so determined, to the board of state assessors for the assessment required by the following section. 90 LAWS OF MAINE. Sec. 60. The board of state assessors shall thereupon determine the values of the several franchises of the said banks and institutions according to the following rule; from the average amount of de- posits, reserve fund and undivided profits so returned by each bank or institution there shall in each case be deducted an amount equal to the value so determined of the United States bonds, all bonds issued after the first day of February nineteen hundred and nine by this state, or any county, municipality, village corpo- ration or water district therein, the shares of corporation stocks such as are by law of this state free from taxation to the stock- holders, and the assessed value of real estate owned by the bank or institution, and also an amount equal to two-fifths of the value so determined of such other assets, loans and investments as by such statement appear to be loans to persons resident or corporations located and doing business in this state, investments in mortgages on real estate in this state, securities of this state, public or pri- vate, bonds issued by corporations located and doing business in this state or guaranteed by such corporations, provided, the cor- porations issuing such bonds be operated by and physically con- nected with such guaranteeing corporations, and also an amount equal to two-fifths of the cash on hand and cash deposited within the state. Upon the value of each of said franchises so ascer- tained the board of state assessors shall assess an annual tax of five-eighths of one per cent; one-half of said tax shall be assessed on or before the fifteenth day of May, and one-half on or before the fifteenth day of November. The board of state assessors shall thereupon certify said assesments to the treasurer of state, who shall forthwith notify the several banks and institutions inter- ested. All taxes so assessed shall be paid semi-annually within ten days after the fifteenth days of May and November. The penalty imposed for failure to file this return is the same as that imposed against domestic trust and banking compannes (see page 88). Last secular day of March. Loan and building associations make return of assets and liabilities as of this date (Rey. Stats. 1916, Chap. 9, Sees. 64, 65) as follows: LAWS OF MAINE—MASSACHUSETTS. 91 Every loan and building association doing business in this state shall semi-annually on the last secular days of March and Sep- tember make a return, signed and sworn to by its secretary, of its assets and liabilities in detail, of the net amount of its investments other than in loans to individuals or corporations on real estate and on shares of the association, during the six months ending on each of said days, and of the monthly capital dues paid in by its shareholders during the six months ending on each of said days, exclusive of withdrawals, fines, interest and premiums. Said re- turns shall be made to the board of state assessors on or before the second Mondays of April and October, and for wilfully making a false return, the secretary forfeits not less than five hundred dollars nor more than five thousand dollars. The treasurer of such association shall pay to the treasurer of state a tax of one- fourth of one per cent a year on the amount of monthly capital dues so returned, and a further tax of one-half of one per cent on the average amount so returned of the investments of such asso- ciations other than in loans to individuals and corporations on real estate and on shares of the association. One-half of said tax shall be assessed on the amount so returned for the six months ending on the last secular day in March and the other half on the amount so returned for the six months end- ing on the last secular day in September; and such tax shall be paid semi-annually, within ten days after the first Mondays in May and November. MASSACHUSETTS. March 1. Last day for corporations acting as trustee to file report of trust income. (Fof text of law see page 20.) ! March 1. : é 4 / Last day for corporations to file returns of employes, : s stockholders, bondholders, etc., for income tax. (For text of law see page 22.) 92 LAWS OF MASSACHUSETTS—NEW JERSEY. March 1. Last day to which Insurance Commissioner may ex- tend time of insurance companies to file annual report. (For. details of law see page 23.) March 1. Last day to which Tax Commissioner may extend time of insurance companies to file annual tax return. (For text of law see page 19.) NEW JERSEY. March 1. Foreign insurance companies and agents thereof must renew their certificates of authority to do busi- ness in New Jersey before this date (Laws 1902, Chap. 134, Sec. 59, sub. 4; Sec. 63). March 1 to 31. During this period list of delinquent personal tax- payers is published twice (General Tax Act, Revision of 1918, Sec. 601) as follows: In first class cities the comptroller, and in all other municipali- ties the colector or other officer charged with the duty of the col- lection of taxes, shall annually, in the month of March, unless otherwise directed by vote of one more than a majority of the governing body, publish a list of the names of all delinquents for personal taxes and the amounts due in a newspaper published in said city or other municipality, or where none is published therein a newspaper circulating in said city or other municipality,. and a second publication shall be made two weeks after the first of the same list, omitting the names of those who have paid the tax in the interval; ten cents per name for each insertion shall be paid to the publisher and added to the tax. LAWS OF NEW YORK. 93 NEW YORK. March 1. Franchise tax reports due from insurance companies (Tax Law, Sec. 192, sub. 5) as follows: 5. Insurance corporations. Every insurance corporation liable to pay a tax under section one hundred and eighty-seven of this chapter, sh#ll, on or before March first in each year, make a writ- ten report to the tax commission of its condition at the close of its business on December thirty-first preceding, stating the gross amount of all premiums referred to in section one hundred and eighty-seven of this chapter, received during the preceding calen- dar year on business done thereby in this state during the year ending with such day and at all times prior thereto, whether the premiums were in money or in the form of notes, credits or other substitutes for money. (For text of section 187 see page 146.) March 1. Corporations doing a life or casualty insurance busi- ness on the co-operative plan file report with Superin- tendent of Insurance as of December 31st preceding (Insurance Law, Sec. 202) as follows:: Every such corporation, association or society doing a life or casualty insurance business, or both upon the co-operative or as- sessment plan, as herein defined, shall, on or before the first day of March in each year, make and file with the superintendent of in- surance a report of its affairs and its operations during the year ending on the thirty-first day of December immediately preceding, which report shall be in lieu of all other reports required by this chapter. Such reports shall be verified by such of the officers of the corporation, association or society as the superintendent may require. 9+ LAWS OF NEW YORK. March 1. Domestic and foreign fraternal benefit societies file report of condition with Superintendent of Insurance as of December 31st preceding (Insurance Law, See. 242, subs. 1, 2) as follows: 1. Every society transacting business in this state shall, annually, on or before the first day of March, file with the superintendent of insurance, in such form as he may require, a statement under oath of its president and secretary, or corresponding officess, of its con- dition and standing on the thirty-first day of December last pre- ceding, and of its transactions for the year ending on that date, and shall also furnish such other information as the superintendent may deem necessary to a proper exhibit of its business and plan of working. Such superintendent may at other times require any further statement he may deem necessary to be made relating to such society. 2. In addition to the annual report herein required, each so- ciety shall report, annually, to the superintendent a valuation of its certificates in force on December thirty-first last preceding, excluding those issued within the year for,which the report is filed, in cases where the contributions for the first year, in whole or in part, are used for current mortality and expenses; provided the first report of valuation shall be made as of December thirty-first, nineteen hundred and twelve. Such report of valuation shall show, as contingent liabilities, the present midyear value of the promised benefits provided in the constitution and laws of such society under certificates then subject to valuation; and, as con- tingent assets, the present midyear value of the future net contri- butions provided in the constitution and laws as the same are in practice actually collected, not including therein any value for the right to make extra assessments. Provided that any excess of the present value of future contributions over the present value of promised benefits under certificates providing for disability bene- fits (other than total permanent disability in combination with death benefits) shall not be allowed in reduction of the liability under other forms of certificates. At the option of any society, in lieu of the above, the valuation may show the net value of the certificates subject to valuation, hereinbefore provided, and said LAWS OF NEW YORK. 95. net value, when computed in case of monthly contributions, may be the mean of the terminal values for the end of the preceding and of the current insurance years. March 1 to April 30. Directors of banks and trust companies make semi- annual examination of its affairs (Banking Law, Secs. 130, 215). Sec. 130 is as follows: (Sec. 215 is practi- cally identical with it): It shall be the duty of the board of directors of every bank during the months of March or April and during the months of September or October in each year to examine, or to cause a com- mittee of at least three of its members to examine, fully the books, papers and affairs of the bank, and the loans and discounts thereof, and particularly the loans or discounts made directly or indirectly to its officers or directors, or for the benefit of such officers or directors or for the benefit of other corporations of which such officers or directors are also officers or directors, or in which they have a beneficial interest as stockholders, creditors, or otherwise,. with the special view of ascertaining their safety and present value, and the value of the collateral security, if any, held in connection therewith, and into such other matters as the superin- tendent of banks may require. Such directors shall have the power to employ such assistance in making such examination as they may deem necessary. March 3. Last day for foreign banks to pay annual franchise tax without penalty. After this date penalty of five per cezit is added plus one per cent monthly (Tax Law, March 15. Corporations paying wages, salaries, commissions, etc., of over $1,000 to nonresidents make return and 96 LAWS OF NEW YORK. pay tax of 2% thereon to State Comptroller (Tax Law, Sec. 366, subs. 1, 2, 3) as follows: 1. Every withholding agent shall deduct and withhold two per centum from all salaries, wages, commissions, gratuities, emolu- ments, perquisites and other fixed and determinable annual or periodical compensation of whatever kind and in whatever form paid or received, earned for personal services and taxable under this article, of which he shall have control, receipt, custody, dis- posal or payment, if the amount paid or received or to be paid or received in any taxable year on account of any individual equals or exceeds one thousand dollars, unless there shall be filed with the withholding agent, before the time when he is required to make return and payment thereof, a certificate in such form as shall be prescribed by the comptroller to the effect that the person entitled to such salary, wage, commission, gratuity, emolument, perquisite or other compensation is a resident and setting forth his residence address within the state. 2. Every withholding agent shall make return to the comptroller of complete information concerning the amount of all interest, rent, salaries, wages, premiums, annuities, compensations, re- munerations, emoluments or other fixed or determinable gains, profits and income, except interest coupons payable to bearer, of any taxpayer taxable under this article of one thousand dollars or more in any taxable year under such regulations and in such form and manner and to such extent as may be prescribed by the comptroller. 3. Every withholding agent required to deduct and withhold any tax under subdivision one of this section shall make return thereof on or before the fifteenth day of March in each year and shall at the same time pay the tax to the comptroller. Every such indi- vidual, corporation or partnership is hereby made liable for such tax and is hereby indemnified against the claims and demands of any individual, corporation or partnership for the amount of any payments made in accordance with the provisions of this section. March 15. j Corporations make return to State Comptroller of payments of rent, interest, salaries, wages, commis- LAWS OF NEW YORK. 97 sions, premiums, etc., of $1,000 or over. (For text of law see under preceding entry.) , March 31. Last day to pay water charges for current year with- out penalty in New York City. (For text of law see page 34.) 98 LAWS OF PENNSYLVANIA. PENNSYLVANIA. March 1. On or before this date national and state banks and savings banks which elect so to do, collect from their shareholders and pay into the State Treasury a tax of ten mills on the dollar (1%) of the par value of all shares subscribed for or issued, and send notice to the Auditor General of their election so to do (Act July 15, 1897, P. L. 292). March 1. On or before this date national and state banks, sav- ings banks and trust companies which elect so to do, pay into the State Treasury a tax on the actual value of all shares subscribed for or issued (14% in the case of trust companies and 2/5% in the case of banks and savings banks) and file with the Auditor General a report showing how this value is computed (Act June 13, 1907, See. 1, P. L. 640). March 1. All foreign and domestic insurance companies file with Insurance Commissioner a statement of financial condition as of December 31 preceding and of their business during the previous calendar year. For failure to file statement a fine of $100 is imposed for every day of delinquency and the company’s right to do new business may be suspended (Act June 1, 1911, See. 15). LAWS OF PENNSYLVANIA. 99 March 1. All foreign insurance companies authorized to do business in Pennsylvania make report to Insurance Commissioner of premiums received during preceding calendar year from business transacted in Pennsyl- vania and pay tax thereon (Act June 1, 1911, Sec. 16). March 1. In the city of Philadelphia 2% plus interest from December 31st preceding is added to unpaid taxes of previous year (Act April 19, 1883, See. 13, P. L. 12). March 1 to April 30. City and poor taxes in third-class cities paid during this period are entitled to discount of 1% (Act May 29, 1917; P. L. 1917, p. 315). March 2. Last day for domestic stock insurance companies to pay premium tax without penalty. After this date 10% is added to the tax. (For text of law, see page 47.) March 31. Last day to make first quarterly payment of local taxes in second-class cities without penalty (Act July 20, 1917; P. 1. 1917, p. 1173). March 31. Certificates of authority issued to foreign insurance companies and to the agents of all insurance companies 100 LAWS OF PENNSYLVANIA. expire on this date unless renewed (Act June 1, 1911, See. 13) as follows: The insurance commissioner shall issue certificates of authority to insurance companies of other states and foreign governments and their agents, and to the agents of Pennsylvania companies and he may renew the certificate of authority of any mutual assess- ment life or accident association and its agents, which is now law- fully doing business in this commonwealth, beginning on the first day of April of each year, and continuing in force for one year unless sooner revoked by him; and any certificates issued after April first shall expire on the thirty-first day of March succeeding. Before granting certificates of authority to an insurance company to issue policies or make contracts of insurance he shall be satis- fied, by such examination as he may make and such evidence as he may require, that such company is qualified under the laws of this commonwealth to transact business herein. - FEDERAL LAWS. 101 APRIL. FEDERAL. April 10. Monthly returns required from manufacturers of playing cards and dealers in leaf tobacco. For details see entries under January. April] 14. Last day to which Collector (not Commissioner) of Internal Revenue can extend time for filing income tax returns (Regulations 45, Art. 443) as follows: It is important that the taxpayer render before the return due date a réturn as complete and final as it is possible for him to prepare. However, in cases of sickness or absence, collectors are authorized to grant an extension of not exceeding 30 days, where in their judgment such further time is actually required for the making of an accurate return. See article 1002. The application for such extension must be made prior to the expira- tion of the period for which the extension is desired. The ab- sence or sickness of one or more officers of a corporation at the time the return is required to be filed will not be accepted as a reasonable cause for failure to file the return within the pre- scribed time, unless it is satisfactorily shown that there were no other principal officers available and sufficiently informed as to the affairs of the corporation to make and verify the return. As a condition of granting an extension of time for filing a return the collector may require the submission of a tentative return and estimate of the tax on form 1040 T in the case of individuals, or on form 1031 T in the case of corporations, and the payment of one-fourth of the estimated amount of tax. April 20. Various monthly returns must be made by corpora- 102 FEDERAL LAWS. tions of different classes. For details see entries in January under ‘‘ 20th day of each month.’’ April 30. Various monthly returns must be made by corpora- tions of different classes. For details see entries in January under ‘‘ Last day of each month.”’ LAWS OF DELAWARE. 103 DELAWARE. April 1 to 30. National and state banks, savings banks and trust companies make report to Insurance Commissioner as of such date as he may specify. Such report is due within 20 days after the Commissioner calls for it (Code 1915, Pars. 65, 66) as follows: Par. 65. Every corporation or company or association liable to pay a tax under the preceding section shall, within the months of April annually, make a written report to the Insurance Commissioner, upon blanks prepared and furnished by said commissioner for that purpose, of the amount of its capital stock, surplus and un- divided profits, for the date for which he shall call for a statement during said month of April. Par. 66. a Every report or statement, required by the preceding section, shall have annexed thereto the affidavit of the cashier, treasurer or trust officer of the corporation or company or association, attested by three of the directors, to the effect that the statements contained therein are true. The Insurance Commissioner may pre- scribe the form in which such report shall be made and the form of oath thereto. When so prescribed such forms shall be used in making the report or statement for the purpose of taxation under 64. The report or statement shall be made by the corporation, company or association, within twenty days from the time of the eall for said report or statement, under a penalty of twenty dollars for each and every day exceeding the twenty days. 104 LAWS OF MAINE. MAINE. April 1, Real and personal property assessed as of this date (Rev. Stats. 1916, Chap. 10, Sees. 9, 13, 14). April 1. Insurance company taxes are due and payable from this date until May 1 (Rev. Stats. 1916, Chap. 9, Sec. 56). April 1. Treasurers of savings banks make return to town assessors of bank stock pledged as collateral (Rev. Stats. 1916, Chap. 9, Sec. 63) as follows: Treasurers of savings banks, on the first day of each April shall return to the assessors of towns, where persons reside who own bank stock which is pledged or tranferred to said bank as col- lateral security for loans, the names of persons pledging or trans- ferring such stock and the amount of the same; and stock so pledged or transferred by persons residing out of the state shall be returned by such treasurers in the same manner to the assessors of the town in which the bank whose stock is so pledged or trans- ferred is located. For the purpose of taxation, bank stock so pledged or transferred shall be deemed the property of the person so pledging or transferring it. First Saturday of April. Last day for domestic trust and banking companies to make semi-annual return to Bank Commissioner. (For text of law see page 88.) Ae Lo LAWS OF MAINE. 105 First Saturday of April. Last day for savings banks to make semi-annual re- turn to Bank Commissioner. (For text of law see page 89.) April 8. Corporations make return to town assessors of stock- holders, etc. (Rev. Stats. 1916, Chap. 51, Sec. 26) as follows: Cashiers of banks, treasurers of trust and banking and safe deposit companies and clerks or treasurers of other corporations shall ascertain the residences of-all stockholders in either; and no dividend shall be paid to any stockholders, whose residence, for the time being, is not entered on the books thereof; and the cashiers of banks, and clerks or treasurers of all corporations holding property liable to be taxed, shall, by the eighth day of April annually, return under oath, to the assessors of each town, in which any of its stockholders reside, the names of such stock- holders, the amount of stock owned by them on the first day of such April, and the amount of stock paid into such corporations, and also the value of the real estate, vaults and safe deposit plant, owned by any bank, or trust and banking or safe deposit com- pany which is taxed as other real estate is taxed in the town in which it is located and the amount for which it is valued by the assessors of such municipality for the year previous, and such return shall contain in the body thereof, or by note annexed thereto, an abstract of section thirty-three of chapter ten; and said cashiers of banks, treasurers of trust and banking and safe deposit companies, and clerks or treasurers of such other corpora- tions shall make like returns to the assessors of the town where such bank, company or other corporation is located or transacts its ordinary business, of all the stock in such bank, company or other corporation not returned to the assessors of other towns in the state. Such returns shall be the basis of taxation on such property, deducting the assessed value of the real estate, vaults and safe deposit plant of any bank, trust and banking or safe de- posit company as herein provided. 106 LAWS OF MAINE. Note: This return is not required from corporations all of whose assets and business are outside the State of Maine. Second Monday of April. Last day for loan and building associations to make semi-annual return to Board of State Assessors. (For text of law see page 91.) Last Saturday of April. Last day for foreign banks to make semi-annual re- port to Bank Commissioner (Rev. Stats. 1916, Chap. 9, Sec. 68) as follows: Such association or corporation and the manager or agent of such branch or agency, shall cause a written report to be made to the bank commissioner on or before the last Saturdays of April and October of each year, verified by the oath of such manager or agent, giving the amount of such business transacted in this state under the rule given in the preceding section, and stating the amount of state tax which such branch or agency is liable to pay, and setting forth in detail the daily average for each month pre- ceding the last Saturdays of March and September; and also giv- ing such further or additional information as to the business of such foreign banking association or corporation done in this state as may be required by the bank commissioner. LAWS OF MASSACHUSETTS. 107 MASSACHUSETTS. April 1. ¢ Taxes on real estate are assessed as of this date (Laws 1909, Chap. 490, Part I, Sec. 15 as amended) as follows: Taxes on real estate shall be assessed, in the city or town in which the estate lies, to the person who is either the owner or in possession thereof on the first day of April, and the person ap- pearing of record, in the records of the county, or of the district, if such county is divided into districts, in which the estate lies, as owner on the first day of April, even though deceased, shall be held to be the true owner thereof, and so shall the person so appearing of record under a tax deed which is not invalid on its face. April 1. Value of corporate franchises for purposes of taxa- tion is estimated as-of this date (Laws 1909, Chap. 490, Part III, Sec. 41). April 1. Taxes on real estate for the current year become a lien (Laws 1909, Chap. 490, Part II, Sec. 36) as fol- lows: Taxes assessed upon land, including those assessed under the provisions of sections sixteen, seventeen and eighteen of Part I, shall with all incidental charges and fees be a lien thereon from the first day of April in the year of assessment. Such lien shall terminate at the expiration of two years from the first day of October in said year, if the estate has in the meantime been alienated; otherwise it shall continue until an alienation thereof. There shall be no lien for taxes reassessed if the property is alienated before the re-assessment. Said taxes, if unpaid for fourteen days after demand therefor, may, with said charges and 108 LAWS OF MASSACHUSETTS. fees, be levied by sale of the real estate, if the lien thereon has not terminated prior to the giving of the notice of sale. April 1. Excise tax on interest of domestic corporations in certain vessels assessed as of this date (Laws 1909, Chap. 490, Part III, Sec. 10) as follows: The tax commissioner shall assess annually as of the first day of April an excise tax upon the interest of every corporation or- ganized under the laws of this commonwealth and having a place of business therein, in any ship or vessel which has, during the period of its business in the year preceding said first day of April, been engaged in interstate or foreign carrying trade, which tax shall be one-third of one per cent upon the value of such interest as it shall be determined by him. Such tax shall become due and shall be collected at the same time and in the same manner as other taxes assessed to such corporations. The president and treasurer of every such corporation owning an interest in any such ship or vessel shall annually, within thirty days after the first day of April, make a return to the tax commissioner, under oath, setting forth in detail the name of the ship or vessel, the interest of the corporation therein, and the value of such in- terest. If the tax commissioner is satisfied of the truth of the return he shall deduct said value from the fair cash value of the shares of the corporation as estimated by him for the purpose of determining the true value of its corporate franchise under the provisions of this part. April 1 to 10. Cashiers of state and national banks file list of stockholders with local assessors (Laws 1909, Chap. 490, Part IIT, Sec. 14) as follows: The cashier of every such bank shall make and deliver to the assessors of the city or town in which it is located, on or before the tenth day of April in each year, a statement under oath show- ing the name of each shareholder, with his residence and the number of shares belonging to him at the close of the business LAWS OF MASSACHUSETTS. 109 day last preceding the first day of April, as the same then ap- peared on the books of said bank. If the cashier fails to make such statement, said assessors shall forthwith obtain a list of the names and residences of shareholders and of the number of shares belonging to each. April 1 to 10. Domestic corporations, except banks and insurance companies, but including trust companies, make fran- chise tax return to Tax Commissioner (Laws 1909, Chap. 490, Part ITI, Sec. 40 as amended) as follows: Every corporation organized under the general or special laws of the commonwealth for purposes of business or profit, having a capital stock divided into shares, except banks, whose shares are otherwise taxable under the provisions of this part, in addi- tion to all returns required by its charter, and in addition to all returns otherwise required under the provisions of this part, shall annually, between the first and tenth days of April, make a return to the tax commissioner, under oath of its treasurer, stating the name of the corporation, its place of business, and setting forth as of the first day of April of the year in which the return is made: — First. The total authorized amount of the capital stock of the corporation; the amount issued and outstanding and the amount then paid thereon; the classes, if any, into which it is divided; the par value and number of its shares; the market value of the shares of its'stock, or of each class of its stock, if there are two or more classes. Second. A statement in such detail as the tax commis- sioner may require of the works, structures, real estate, machinery, poles, underground conduits, wires and pipes, and of the mer- chandise and other assets belonging to the-corporation, with the value thereof, and of the liabilities of the corporation; and. in the case of domestic business corporations a statement of such assets as are without the commonwealth. Except in the case of domestic business corporations the returns required by this sec- tion shall also contain, in a form prescribed by the tax commis- sioner, a statement of the profit or loss which has resulted from the business of the corporation for the twelve months ending with the thirty-first day of December next preceding the year in which 110 LAWS OF MASSACHUSETTS. the return is made. Third. A complete list of the shareholders of the corporation, their residences, the amount and class of stock, if more than one, belonging to each. If stock is held as collateral security, the list shall state the name and residence of the pledgor and of the pledgee. In the case of domestic business corporations the whole of said return, and in the case of other corporations so much of said return as relates to the profit or loss which has resulted from the business of the corporation shall be open only to the inspection of the tax commissioner, his deputy, clerks and assistants and such other officers of the commonwealth as may have occasion to in- spect it for the purpose of assessing or collecting taxes. April 1 to 10. National banks and trust companies make returns to Tax Commissioner of funds held in trust (Laws 1909, Chap. 490, Part III, Sec. 37; Laws 1915, Chap. 233, See. 1). Note: While the technical liability to make these returns still exists, these provisions of law have been practically superseded by the sections of the Income Tax Act quoted herein on pages 20 to 22. April 1 to 10. Foreign corporations file with Tax Commissioner a return of property subject to local taxation (Laws 1909, Chap. 490, Part III, See. 54) as follows: Every foreign corporation which has property within the com- monwealth subject to taxation under the laws thereof, shall an- nually, between the first and tenth days of April, beginning in the year nineteen hundred and nineteen, prepare and file in the office of the tax commissioner a return, in such form and with such detail as the tax commissioner may prescribe, signed and sworn to by its treasurer, showing all its property, real and per- sonal subject to local taxation within the commonwealth on the first day of April and the location and value thereof. LAWS OF MASSACHUSETTS. 111 April 1 to 30. Domestic corporations file with Tax Commissioner a return of their interest in certain vessels. (For text of law see page 108.) April 11. Tax Commissioner gives notice by mail to corpora- tions which have failed to file franchise tax returns (Laws 1909, Chap. 490, Part ITI, Sec. 58) as follows: “ If a domestic business corporation fails to file its tax return before the tenth day of April of each year, or if a foreign corpo- ration omits to file the certificate as required in section fifty-four, the tax commissioner shall give notice by mail, postage prepaid, to the corporation of its default, directed, in the case of a foreign corporation, to the resident manager, if any, in the United States, or to any other person designated by the corporation, by writ- ten notice filed in the office of the commissioner, as provided in section fifty-nine of chapter four hundred and thirty-seven of the acts of the year nineteen hundred and three for notice of the service of legal process, which notice to said foreign cor- poration shall contain a copy of this section and of sections sixty- five to sixty-eight inclusive of said chapter. If such business or foreign corporation fails to file such return or certificate within thirty days after such notice of default has been given or mailed, it shall forfeit to the commonwealth not less than five nor more than ten dollars for each day for fifteen days after the expiration of the said thirty days, and not less than ten nor more than two hundred dollars for each day thereafter during which such de- fault continues, or any other sum, not greater than the maximum penalty or forfeiture, which the court may deem just and equit- able, which, in the case of a foreign corporation, shall be recovered as herein provided. Penalties and forfeitures incurred by any domestic business or foreign corporation which, being subject to the provisions of ‘this act, omits to cause any certificate or return which may be required by the provisions of sections forty and fifty-four to be duly filed may be recovered in an action brought in the county of 112 LAWS OF MASSACHUSETTS. Suffolk in the name of the commonwealth, or they may be re- covered by an information in equity in the name of the attorney- general at the relation of the tax commissioner, brought in the supreme judicial court in the county of Suffolk. Upon such in- formation, the court may issue an injunction restraining the further prosecution of the business of the corporation named therein until such penalties er fofrfeitures, with interest and costs, have been paid, and until the returns and certificates required by this act have been filed. LAWS OF NEW JERSEY. : 114. NEW JERSEY. April 1. County Boards of Taxation deliver corrected dupli- cate assesment lists to collectors (General Tax Act, Revision of 1918, Sec. 509) as follows: The county board of taxation shall, on or before the first day of April in each year, cause the corrected, revised and com- pleted duplicates, certified by said board to be a true record of the taxes assessed, to be delivered to the respective collectors of the various taxing districts in their respective counties, and the said tax lists shall remain in the office of such board as a public record. April 1 to June 1Y First half of taxes payable without penalty during this period (General Tax Act, Revision of 1918, Sec. 602) as follows: Taxes shall be payable, one-half of the amount thereof on the first day of April, which, if not paid on or before the first day of June, will become delinquent on that date, and the taxpayer or property assessed will be subject to the penalties hereinafter pre- scribed. 114 LAWS OF NEW YORK. NEW YORK. April 1. Five per cent penalty added to unpaid water charges for current year in New York City. (For text of law see page 34.) April 1. Last day to pay tax on grounds used for shell-fish- eries without penalty. After this date one per cent per month is added to the tax, and grounds may be sold for nonpayment (Conservation Law, Sec. 308). April 1. General property tax (except school tax) payable in Westchester county, and may be paid without penalty until May 1st (Laws 1916, Chap. 105, Sees. 15, 18). April 15. In Nassau county, last day for nonresidents to file request for notice of assessment with assessors of town where property is located (Laws 1917, Chap. 297, See. 15). April 30. Last day for foreign co-operative life and casualty insurance companies to file renewal certificate of au- thority with county clerk (Insurance Law, Sec. 204) as follows: LAWS OF NEW YORK. 115 No such corporation, association or society organized under the laws of any other state or territory of the United States or District of Columbia, or foreign countries, except such secret fra- ternal societies having subordinate lodges or councils as are now authorized to transact business within this state with the consent of the superintendent, shall transact business herein until it. has received from the superintendent of insurance a certificate of au- thority to do business in this state, a duplicate of which shall be filed in his office. The superintendent shall annually issue to such foreign corporation, association or society renewal certificates of authority to continue its business, if its annual report is satis- factory to him, which certificate shall be filed in the office of the clerk of the county where its principal office is located within this state, within sixty days after filing such annual report, and no such foreign corporation, association or society, except secret fraternal societies above specified, shall be authorized to continue such business after the expiration of such sixty days unless such certificate shall have been so received and filed. The superin- tendent shall refuse a certificate of authority or a renewal of the same to any such foreign corporation, association or society, ex- cept such secret fraternal societies, when, in his judgment, such refusal will best promote the public interests, or when by the laws of the state or territory under which the same is organized, the corporations, associations or societies of this state doing a life or casualty business upon the co-operative or assessment plan are not permitted to transact such business in such other state or territory. Provided, however, that except in the case of fraternal organizations, and except in the case of corporations complying with the conditions required of domestic corporations in procuring certificates for foreign states, as provided in section 204a of this act no certificate of authority to do business in this state except renewal certificates of authority to such corporations, associations or societies as were on April twenty-sixth, nineteen hundred and six, authorized to transact business within the state, shall be is- sued by the superintendent of insurance after June first, nineteen hundred and six. When any other state or territory shall impose any obligation upon such corporation, association or society of this state, or their agents transacting business in such other state or territory, the like obligations are hereby imposed upon similar corporations, associations or societies of such other state or ’ 116 LAWS OF NEW YORK. territory and their agents or representatives transacting business in this state, and such corporation, association or society of such other state or territory, and their agents and representatives shall , pay all licenses, fees or penalties to, and make deposits with, the state treasurer imposed by the laws of such other state or territory upon any such corporation, association or society of this state doing business therein; and in case of failure to pay the same, the superintendent shall refuse the certificate of authority herein provided for, or cancel such certificate in case one shall have previously been issued. é 5 April 30. Last day for directors of banks and trust companies to make semi-annual examination. (For text of law see page 95.) LAWS OF PENNSYLVANIA. 117 PENNSYLVANIA. April 1. Annual certificates issued to foreign insurance com- panies and to the agents of all insurance companies begin to run on this date. (For text of law see page 100.) April 1. In the city of Philadelphia 3% plus interest from December 31st preceding is added to unpaid taxes of previous year (Act April 19, 1883, Sec. 13, P. L. 12). April 1.. First quarterly payment of local taxes for current year in second-class cities becomes delinquent; 2% penalty added thereto plus 14% monthly until paid (Act July 20, 1917; P. L. 1917, p. 1173). April 30. Last day to make second quarterly payment of local taxes in second-class cities without penalty (Act July 20, 1917; P. li, 1917, p. 1173). April 30. Last day to get benefit of 1% discount on city and poor taxes paid in third-class cities (Act May 29, 1917, P, 5,315). 118 FEDERAL LAWS. MAY. FEDERAL. May 10. Monthly returns required from dealers in leaf to- bacco and manufacturers of playing cards. For details see entries under January. May 20. Various monthly returns must be made by corpora- tions of different classes. For details see entries in January under ‘‘ 20th day of each month.”’ May 31. Various monthly returns must be made by corpora- tions of different classes. For details see entries in January under ‘‘ Last day of each month.’’ LAWS OF DELAWARE. 119 DELAWARE. May 1 to 31. Clerks of the peace of all counties publish notice to mercantile and manufacturing corporations to take out license (Code 1915, Sec. 196). First Tuesday of May. Local assessment lists and warrants are delivered to tax collectors in Kent and Sussex counties (Code 1915, Par. 1225). 120 LAWS OF MAINE. MAINE. May 1. Last day for foreign insurance companies to begin publication of condensed statement (Rev. Stats. 1916, Chap. 53, See. 117) as follows: Every foreign insurance company, life excepted, doing business in the state, shall annually, before the first day of May, publish three weeks successively, in some daily or weekly paper printed in every county where it has a duly authorized agent, or issues policies, ‘a condensed statement of its condition conformable to its last annual report to the commissioner, and every such insurance company which neglects or refuses to publish such statement, for- feits not less than fifty dollars. ' May 1. Last day for insurance companies to pay franchise tax without penalty. (Rev. Stats. 1916, Chap. 9, Sec. 56). First Monday of May. Semi-annual tax on loan and building’ associations due on this date and payable within ten days. (For text of law see page 91.) First Monday of May. Within ten days after this date foreign banks pay to the treasurer of state a tax of three-fourths of one per cent upon the business done in the state during the six months ending on the last Saturday of March preceding (Rev. Stats. 1916, Chap. 9, Sec. 67). LAWS OF MAINE. 121 May 15. One-half of annual tax on savings banks due on this date and payable within ten days. (For text of law see page 90.) May 15. One-half of annual tax on domestic trust and bank- ing companies due on this date and payable within ten days. (For text of law see page 88.) 4 129 LAWS OF MASSACHUSETTS. MASSACHUSETTS. May 1. Time for filing annual ‘‘ Gain and Loss Exhibit ’’ by life insurance companies may be extended to this date (Laws 1907, Chap. 576, Sec. 101). May 1. Writ of mandamus may be issued against corpora- tions which have failed to file returns required by the Income Tax Act (Laws 1916, Chap. 269, Sec. 13 as amended). May 1 to 10. Savings banks make semi-annual report of deposits to Tax Commissioner (Laws 1909, Chap. 490, Part UI, Sec. 22) as follows: Every savings bank and institution for savings shall semi- annually, on or before the tenth day of May and November, make a return to the tax commissioner, signed and sworn to by its presi- dent and treasurer, of the amount of its deposits on the first day of said May and November, and of the average amount of its deposits for the six months preceding each of said days. Every such corporation which neglects to make such return shall forfeit fifty dollars for each day during which such neglect continues. If it wilfully makes a false statement in such return it shall be punished by a fine of not less than five hundred nor more than five thousand dollars. 4 May 10. On or before this date domestic and foreign life in- surance companies make return to Tax Commissioner Z LAWS OF MASSACHUSETTS. 123 of policies in force on December 31 preceding (Laws 1909, Chap. 490, Part II, Sec. 26) as follows: A domestic or foreign company or association which is engaged by its officers or by agents as defined in chapter five hundred and seventy-six of the acts of the year nineteen hundred and seven and amendments thereof and additions thereto, in the business of life insurance within this commonwealth shall annually pay an excise tax of one-quarter of one per cent upon the net value of all policies in force on the thirty-first day of December of the year preceding that in which the tax is payable, issued or assumed by such company and held by residents of the commonwealth, as determined by the tax commissioner upon the return required under the provisions of this section and such other evidence as he may obtain. Every company or association subject to the pro- visions of this section shall annually, on or before the tenth day of May, make a return to the tax commissioner, signed and sworn to by its president or secretary and its actuary, giving in such detail as the tax commissioner shall require the total number of policies in force on the preceding thirty-first day of December held by residents of this commonwealth, the aggregate net value thereof and the aggregate amount insured. In respect to indus- trial business the aggregate net value so reported may be estimated upon the basis of such general averages or otherwise as shall be authorized by the tax commissioner with the approval of the in- surance commissioner, but in respect to ordinary business the aggregate net value reported shall be the combined aggregate of the mean reserve computed for each policy, or each group of policies requiring a separate computation to determine their net value on the basis of valuation used or approved by the Massa- chusetts insurance department under the provisions of section eleven of chapter five hundred and seventy-six of the acts of the year nineteen hundred and seven and amendments thereof and additions thereto. Whenever the tax commissioner believes it to be for the best interests of the commonwealth he may require in addition to the above information the following details relating to each policy of ordinary business in force on the preceding © thirty-first day of December and held by a resident of Massa- chusetts: the number, date, and class, the age of the assured life, the amount insured and the net value. The books, papers and 124 LAWS OF MASSACHUSETTS. ° accounts of every such life insurance company shall be open at all times to inspection and examination by the tax commissioner and the insurance commissioner, or their duly authorized repre- sentatives, for the purpose of verifying the accuracy of the returns made under this section. If any such return contains a false statement which is known, or by the exercise of reasonable care might have been known, to the agent or officers making it to be false, such life insurance company or association shall be liable for the amount of tax thereby lost to the commonwealth and, in ad- dition, to a penalty of not less than five hundred dollars nor more than five thousand dollars. May 11. Penalties begin to run against corporations which have failed to file franchise tax returns. (For text of law see page 111.) May 25. Savings banks pay semi-annual tax on deposits (Laws 1909, Chap. 490, Part IIT, Sec. 21) as follows: Every savings bank and institution for savings shall pay to the treasurer and receiver general, on account of its depositors, an annual tax of one-half of one per cent on the amount of its deposits, one-half thereof to be assessed by the tax commissioner upon the average amount of such deposits for the six months pre- ceding the first day of May and one-half to be so assessed upon the average amount of such deposits for the six months preceding the first day of November. Such tax shall be paid semi-annually on or before the twenty-fifth day of May and of November, each payment to consist of the amount of the tax as determined by the last preceding assessment; but so much of said deposits as is. invested in real estate for banking purposes or in loans secured by mortgages of taxable real estate, and, for the period limited in clause Tenth of section sixty-eight of chapter five hundred and ninety of the acts of the year nineteen hundred and eight, so much of said deposits as is invested in real estate the title to which has been acquired by the completion of foreclosure, or by purchase, pursuant to said section, so much of said deposits as is invested in bonds of the commonwealth of Massachusetts. LAWS OF MASSACHUSETTS. 125 issued after July first, nineteen hundred and six, so much of said deposits as is invested in bonds, notes and certificates of indebted- ness of any county, fire district, water supply district, city or town in the commonwealth which may be issued on or after the first day of May in the year nineteen hundred and eight, stating upon their face that they are exempt from taxation in Massa- chusetts, and so much of said deposits as is invested in shares of stock of trust companies organized under the laws of this com- monwealth, shall be exempt from taxation under the provisions of this section. 126 LAWS OF NEW JERSEY. | NEW JERSEY. ./ 7 First Tuesday of May. Domestic business corporations, except public ser- vice, banking and insurance corporations, file franchise tax report with State Board of Taxes and Assessment (Act April 18, 1884, See. 1 as amended) as follows: All corporations incorporated under the laws of this state, other than those which are subject to the payment of a state franchise tax assessed upon the basis of gross receipts, shall make annual return to the State Board of Assessors on or before the first Tuesday of May in each year, and shall state therein the amount of the capital stock of such corporation issued and outstanding on the first day of January preceding the making of said return, together with such other information as may be required by said board to carry out the provisions of this act, and shall pay an annual license fee or franchise tax of one-tenth of one per centum on all amounts of capital stock issued and outstanding up to and including the sum of three million dollars; on all sums of capital stock issued and outstanding in excess of three million dollars and not exceeding five million dollars, an annual license fee or franchise tax of one-twentieth of one per centum, and the further sum of fifty Jollars per annum per one million dollars, or any part thereof, on all amounts of capital stock issued and out- standing in excess of five million dollars; and any shares of stock either fully paid or partially paid in cash or by property pur- chased whether issued or otherwise shall be deemed to be shares of stock issued and outstanding until such shares or any sub- stitute therefor shall have been retired and actually canceled; provided, that this act shall not apply to railway, canal or banking corporations, or to savings banks, cemeteries or religious corpo- rations, or purely charitable or purely educational associations not conducted for profit, or manufacturing or mining corpora- tions at least fifty per centum of whose capital stock issued and outstanding is invested in mining or manufacturing carried on within this State, and which mining or manufacturing corpo- rations shall have stated in the annual return to the State Board of Assessors where the mine or manufacturing establishment of LAWS OF NEW JERSEY. 197 such corporation or corporations is or are located, the character of the ores mined or the goods manufactured, the total amount of its capital stock embarked in the business of mining or manu- facturing and the amount of capital stock actually employed in New Jersey in carrying on such mining or manufacturing busi- ness. If any manufacturing or mining company carrying on busi- ness in this State shall have less than fifty per centum of its. capital stock, issued and outstanding, invested in business carried on within this State, such company shall pay the annual license fee or franchise tax herein provided for companies not carrying on business in this State, but shall be entitled in the computation of such tax, to a deduction from the amount of its capital stock issued and outstanding of the assessed value of its real and personal estate so used in manufacturing or mining. Penalties for false statements in, or failure to make, foregoing report (Act April 18, 1884, See. 3 as amended) as follows: If any officer of any company required by this act to make a return shall in such return make a false statement, he shall be deemed guilty of perjury; if any such company shall neglect or refuse to make such return within the time limited as aforesaid, the state board of assessors shall ascertain and fix the amount of the annual license fee or franchise tax and the basis upon which the same is determined, in such manner as may be deemed by them most practicable, and the amount fixed by them shall stand as such basis of taxation under this act. Note: The ‘‘ State Board of Assessors,’’ referred to in the foregoing statute, is now the ‘‘ State Board of Taxes and Assessment.’’ May 15. Tax bills are sent to taxpayers on or before this date (General Tax Act, Revision of 1918, Sec. 601) as fol- lows: 128 LAWS OF NEW JERSEY. As soon as the tax duplicate is delivered to the collector of the taxing district, as hereinbefore provided, he shall at once begin the work of preparing, completing, mailing or otherwise delivering tax bills to the individuals assessed, and shall complete such work on or before the fifteenth day of May. The validity of any tax or assessment, or the time at which the same shall be payable, shall not be affected by the failure of any taxpayer to receive a tax bill, but all taxpayers are put upon notice to ascer- tain from the proper officials of the respective taxing districts the amount which may be due for taxes or assessment against any such taxpayer or property. LAWS OF NEW YORK. . 129 NEW YORK. a May 1. Personal property tax and first half of real estate tax are due and payable in New York City (Charter See. 914, as amended by Laws 1916, Chap. 17) as fol- lows: ; The receiver of taxes shall, immediately after he shall have received the assessment-rolls, give public notice, for at least five days in the City Record and in such newspaper or newspapers published in the several boroughs as may be designated by the board of city record, or in default of any newspaper being pub- lished in any borough, in such newspaper or newspapers having a general circulation in such boroughs as the board of city record shall direct, that said assessment-rolls have been delivered to him and that all taxes shall be due and payable at his office in the said respective boroughs as follows: All taxes upon personal property and one-half of all taxes upon real estate shall be due and payable on the first day of May and the remaining and final one-half of taxes on real estate shall be due and payable on the first day of November. All taxes shall be and become liens on the real estate affected thereby and shall be construed as and deemed to be charges thereon on the respec- tive days when they become due and payable as hereinbefore pro- vided and not earlier and shall remain such liens until paid. The second half of the tax on real estate which is due as here- inbefore provided on the first day of November following the payment of the first half, may be paid on the first day of May or at any time thereafter, providing the first half shall have been paid or shall be paid at the same time, and on such payments of the second half as may be made in such manner prior to No- vember first a discount shall be allowed from the date of payment’ to November first at the rate of four per centum per annum. May 1. Two per cent penalty added to unpaid general prop- 130 LAWS OF NEW YORK. erty tax in Westchester county (Laws 1916, Chap. 105, Sees. 15, 18). May 1. Date as of which national and state banks furnish statement to assessors of tax district in which prin- cipal office is located. (For text of law see page 144.) May 15. On or before this date directors of banks and trust. companies make report to board of directors of semi- annual examination (see entry under ‘‘ March 1 to April 30 ’’) and file duplicate with Superintendent of Banks (Banking Law, Sees. 131, 216). These two sec- tions are practically identical, the text of Sec. 131 being as follows: On or before the fifteenth day of the month of May or Novem-. ber succeeding any examination made pursuant to the require- ments of the last section, a report in writing thereof, sworn to by the directors making the same, shall be made to the board of di- rectors of such bank, and placed on file in said bank, and a dupli- cate thereof filed in the office of the superintendent of banks. Such report shall particularly contain a statement of the assets and liabilities of the bank examined, as shown by the books, to- gether with such deductions from the assets, and the addition of such liabilities, direct, indirect, contingent or otherwise as such directors or committee, after such examination, may find neces- sary in order to determine the true condition of the bank. It shall also contain a statement showing in detail every known lia- bility to such bank, direct, indirect, contingent, or otherwise, of every officer or director thereof and of every corporation in which any such officer or director owns stock to the amount of twenty- five per centum of the total outstanding stock, or of which any. LAWS OF NEW YORK. 131 such officer or director is also an officer or director. It shall also contain a statement, in detail, of loans, if any, which in their opinion are doubtful or worthless, together with their reasons for so regarding them; also a statement of loans made on collateral security which in their opinion are insufficiently secured, giving in each case the amount of the loan, the name and market value of the collateral, if it has any market value, and, if not, a state- ment of that fact, and its actual value as nearly as possible. Such report shall also contain a statement of overdrafts, of the names and amounts of such as they consider worthless or doubtful, and a full statement of such other matters as affect the solvency and soundness of the institution. If the directors of any bank shall fail to make, or to cause to be made, or to file such report of ex- amination in the manner, and within the time, specified, such bank shall forfeit to the people of the state one hundred dollars for every day such report shall be delayed. May 15. In Westchester county, last day for nonresidents to file request for notice of assessment with ,Board of Assessors of town where property is located (Laws 1916, Chap. 105, See. 10). May 31. Last day to pay personal property tax and first half of real estate tax without penalty in New York City. (For text of law see page 129.) 132 LAWS OF PENNSYLVANIA. PENNSYLVANIA. May 1. Second quarterly payment of local taxes for current year in second-class cities becomes delinquent; 2% penalty added thereto plus 144% monthly until paid (Act July 20, 1917; P. L. 1917, p. 1173). May 1. In the city of Philadelphia 4% plus interest from December 31st preceding is added to unpaid taxes of previous year (Act of April 19, 1883, See. 18, P. L. 12). May 1 to June 30. City and poor taxes payable without discount in third-class cities (Act May 29, 1917; P. L. 1917, p. 315). First Monday of May. Foreign building and loan associations pay license fee of $100 (Act May 11, 1901, See. 5, P. L. 153) as follows: Every association, company or corporation described in the first section of this act and authorized to do business within this Com- monwealth shall, annually, upon the first Monday of May, pay into the State treasury a license fee of one hundred dollars; and in ease of neglect or refusal by any such association, company or corporation to pay the same, as aforesaid, into the State treasury at the time aforesaid, the Auditor General shall settle an account against such association, company or corporation for the amount due and payable by it as aforesaid, and shall proceed to collect the same, in the same manner and under the same penalties as are provided for the collection of taxes and penalties under existing laws. FEDERAL LAWS. 133 JUNE. FEDERAL. June 10. Monthly returns required from dealers in leaf to- bacco and manufacturers of playing cards. For details see entries under January. June 15. Second quarter of income tax due (Rev. Act 1918, Sec. 250; Regulations 45, Art. 1001. For text see page 80.) June 15. Corporations which have withheld taxes from pay- ments of income of any sort must pay them to Collector of Internal Revenue on or before this date (Regula- tions 45, Art. 370. For text see page 75.) June 20. Various monthly returns are required from corpora- tions of different classes. For details see entries in January under ‘‘ 20th day of each month.’’ June 30. ‘ Various monthly returns must be made by corpora- tions of different classes. For details see entries in January under ‘‘ Last day of each month.’’ 134 LAWS OF DELAWARE. DELAWARE. June 1. Before this date every domestic and foreign corpo- ration engaged in manufacturing must file with the Clerk of the Peace of the county in which it is so en- gaged a sworn statement to the effect that the aggre- gate gross receipts received in connection with or from the business of the said production, manufacture or finishing in the State of Delaware by said corporation during the year then last past did not exceed a certain sum therein named; at the same time such corporation must pay to the said Clerk of the Peace the sum of $5.00 plus one-fiftieth of one per cent of the total gross receipts set forth in said statement. When this has been done the clerk issues a license to such corporation to manufacture for one year from June 1 (Code 1915, Par, 196). June 1. Before this date every domestic and foreign corpora- tion engaged in buying and selling goods, wares, mer- chandise or property of any description, either at wholesale or retail, must file with the Clerk of the Peace of the county in which it is so engaged a state- ment of the aggregate cost value of the property which such corporation shall have purchased for sale in said business during the year immediately preceding the date of taking out the license referred to below; at the same time such corporation must pay to the said Clerk of the Peace the sum of $5.00 plus one dollar on the first thousand dollars of such cost value and ten cents on each additional hundred dollars thereof. When this has been done the clerk issues a license to such LAWS OF DELAWARE. 135 corporation to carry on such business for one year from June 1 (Code 1915, Par. 198). June 1. - Taxes payable by national and state banks, savings banks, trust companies, etc. (Code 1915, Pars. 64, 69) as follows: 64. Every State bank, National bank, savings bank, trust and loan company doing business in this State shall pay to the State for the privilege of exercising its corporate franchises or carry- ing on its business in such corporate or organized capacity in this State an annual tax, which shall be one-fifth of one per centum upon the amount of its capital stock, surplus and undivided profits. 69. The tax imposed by 64 shall be due and payable to the Insurance Commissioner before the first day of June of each and every year. If such tax is not paid within twenty days after the same becomes due, the corporation, company or association liable to pay the same shall pay to the Insurance ommissioner, in addition to the amount of such tax, a sum equal to five per centum thereof and one per centum additional for each month the tax remains unpaid, which sum shall be added to the tax and paid or collected therewith. Every corporation, company or association failing to make the report or statement required as aforesaid, shall forfeit to the State the sum of one hundred dollars for every such failure and the additional sum of twenty dollars for each day that such failure continues. Such tax shall be a lien upon and bind all the real and per- sonal property of the corporation, company or association liable to pay the same, from the time it is payable until the same is paid in full. First Monday of June. Local taxes become payable in Kent and Sussex counties. Tax collectors post notices stating when and 136 LAWS OF DELAWARE. where they will attend to receive the same (Code 1915, Par. 1226). June 20. Penalties are added to taxes of banking corporations which remain unpaid on this date. (For text of law see page 135.) Three months after the third Tuesday of March. Last day to file with Governor petition for review of franchise tax assessments (Code 1915, Par. 119) as © follows: The officers of any corporation who shall consider the tax levied under the provisions of sections 65 to 83 inclusive of this chapter, excessive or otherwise unjust, may make application to the Governor for a review of the assessment and a readjust- ment of the tax; provided, there be filed with the Governor within three months from the date of assessment a petition of appeal, duly verified according to law, stating specifically the grounds upon which the appeal is taken and the reasons why the tax is considered excessive or unjust; the Governor shall thereupon proceed to investigate the contentions raised by the said petition of appeal; and for the purpose of such hearing, the officers of said corporation may be summoned to appear before the Governor, either in person or by attorney, and questioned as to the state- ments set forth in the said petition of appeal; if, in the opinion of the Governor it shall appear that the tax so levied as afore- said is excessive or unjust, he shall thereupon require the officers of the corporation to file with him a corrected return, and upon said corrected return the assessment shall be adjusted and the tax reduced or amended as in the opinion of the Governor shall seem proper. If the petition of appeal shall not be filed within three months from the date of the assessment, as aforesaid, the right to appeal to the Governor shall be considered and treated as having been LAWS OF DELAWARE, 137 waived and the amount of tax levied shall be payable and col- lectible at once. June 30, Last day to get discount of five per cent on local taxes paid in Kent county (Code 1915, Par. 1215). 188 LAWS OF MAINE. MAINE. June 1. Last day for domestic business corporations to file franchise tax report (Rev. Stats. 1916, Chap. 51, Sees. 28, 29) as follows: Sec. 28. i Every corporation incorporated under the laws of this “state, excepting religious, charitable, educational and benevolent cor- porations, and excepting such corporations as may be organized under the first fourteen sections of chapter sixty-two, and such corporations as are liable to a franchise tax other than the tax provided for in section eighteen of chapter nine, and such corpo- rations as have been or may hereafter be excused from filing annual returns under the provisions of section thirty-three of this chapter, so long as their franchises remain unused, shall on or before the first day of June, annually, make a return to the secretary of state, signed by its president or treasurer, verified under oath, containing the names of its directors, president, treasurer and clerk, with the residence of each, the location of its principal office in this state, and the amount of its authorized capital stock; and for this purpose the secretary of state shall furnish blanks in proper form and safely keep in his office all such returns. Sec. 29. A deposit of the return required in the three preceding sections in a post-office, postage paid, properly directed, is a compliance therewith. For the neglect or refusal of its officer to make such return, the corporation forfeits five hundred dollars, to be re- covered in an action of debt, to be prosecuted in the name of the state by the attorney-general. LAWS OF MASSACHUSETTS. 139 MASSACHUSETTS. June 30. Licenses of foreign insurance companies to do busi- ness in Massachusetts expire on this date unless re- newed in writing by the Insurance Commissioner on or before this date (Laws 1907, Chap. 576, Sec. 83). 140 LAWS OF NEW JERSEY. NEW JERSEY. June 1. J Last day to pay first half of taxes for current year ‘without penalty. After this date interest is charged thereon at the rate of from 7% to 9% per annum (Gen- eral Tax Act, Revision of 1918, Secs. 602, 603). ( First Monday of June. \ Franchise tax payable by domestic corporations on basis of report made in May (Act April 18, 1884, See. 5 as amended) as follows: The state board of assessors shall certify and report to the comptroller of the state, on or before the first Monday of June in each year, a statement of the basis of the annual license fee or franchise tax as returned by each company to, or ascertained by the said board, and the amount of tax due thereon, respec-. tively, at the rates fixed by this act; such tax shall thereupon be- come due and payable, and it shall be the duty of the state treasurer to receive the same; if the tax of any company remains unpaid on the first day of July, after the same becomes due, the same shall thenceforth bear interest at the rate of one per centum for each month until paid; the state board of assessors shall have power to require of any corporation subject to tax under this act such information or reports touching the affairs of such company as may be necessary to carry out the provisions of this act; and may require the production of the books of such company, and may swear and examine witnesses in relation thereto; the comp- troller shall receive as compensation for his services under this act. and under the act entitled ‘‘An Act for the taxation of railroad and canal property,’’ approved April tenth, one thousand eight hundred and eighty-four, the sum of five hundred dollars annually. - . Penalties for failure to pay above tax (Act April 18, 1884, Sees. 6, 7) as follows: LAWS OF NEW JERSEY. 141 Sec. 6. ’ Such tax, when determined, shall be a debt due from such com- pany to the state, for which-an action at law may be maintatined. after the same shall have been in arrears for the period of one month; such tax shall also be a preferred debt in case of insolvency- Sec. 7. In addition to other remedies for the collection of such tax, it shall be lawful for the attorney-general, either of his own mo- tion, or upon the request of the state comptroller, whenever any tax due under this act, from any company, shall have remained in arrears for a period of three months after the same shall have become payable, to apply to the court of chancery, by petition in the name of the state, on five days’ notice to such corpora- tion, which notice may be served in such manner as the chan- cellor may direct, for an injunction to restrain such corporation from the exercise of any franchise, or the transaction of any busi- ness within this state until the payment of such tax and interest due thereon, and the costs of such application, to be fixed by the chancellor; the said court is hereby authorized to grant such in- junction, if a proper case appear, and upon the granting and service of such injunction, it shall not be lawful for such com- pany thereafter to exercise any franchise or transact any business in this state until such injunction be dissolved. (Public Laws 1905, p. 508) as follows: If any corporation created under any act of this state shall for two consecutive years neglect or refuse to pay the state any tax which has been or shall be assessed against it under any law of this state and made payable into the state treasury, the charter of such corporation shall be declared void as in section two of this act provided, unless the governor shall, for good cause shown to him, give further time for the payment of such tax, in which case a certificate thereof shall be filed by the governor in the office of the comptroller, stating the reasons therefor. 149 LAWS OF NEW JERSEY. First Monday of June. Franchise tax payable by domestic life insurance companies (Public Laws 1892, pp. 137, 140). June 15. _/ Last day to appeal from assessment to County Board of Taxation (General Tax Act, Revision of 1918, Sec. 701) as follows: Any taxpayer feeling aggrieved by the assessed valuation of his property, or feeling that he is discriminated against by the assessed valuation of any other property in the county, or any taxing district which may feel discriminated against by the as- sessed valuation of property in said taxing district, or by the as- sessed valuation of property in any other taxing district in such county, may on or before the fifteenth day of June file with the county board of taxation a petition of appeal to the county board of taxation, a copy of which shall also be filed with the clerk or attorney of the taxing district, setting forth the cause of complaint, the nature and location of such assessed property and the relief sought. Said petition of appeal shall be signed and sworn to by the petitioner or his agent, and shall be in such form and contain such further information as may be from time to time prescribed by rule of the board, for the better understanding and determination of the appeal. Such board shall thereupon make such order respecting the time and manner for hearing such appeal as it may deem just, and shall summarily hear and determine such appeals, and revise and correct such as- sessment in accordance with the true value of such taxable property. June 30. Filing of that portion of the annual statement re- quired from insurance companies which relates to profits and losses of preceding year may be postponed not later than this date, if such postponement is re- quested (Laws 1902, Chap. 134, Sec. 70). LAWS OF NEW YORK. 143 NEW YORK. June 1. Interest at seven per cent from May 1 is added to unpaid personal property tax and first half of real estate tax in New York City (Charter, Sec. 916) as follows: If any tax on personal estate or the first one-half of any tax on real estate shall remain unpaid on the first day of June, after it shall become due and payable it shall be the duty of the re- ceiver of taxes to charge, receive and collect upon such tax so remaining unpaid on that day, interest upon the amount thereof, at the rate of seven per centum per annum, to be calculated from the day on which said taxes or such part thereof became due and payable, as provided by section nine hundred and fourteen of this act, to the date of payment; and such increase of per- centage shall be paid over and accounted for by such receiver from time to time, as a part of the tax collected by him. If the final half of any tax on real estate shall remain unpaid on the first day of December, after it shall be due and payable, it shall be the duty of the receiver of taxes to charge, receive and collect upon such tax so remaining unpaid on that day, interest upon the amount thereof, at the rate of seven per centum per annum, to be calculated from the day on which said final half of said tax be- came due and payable, as provided by section nine hundred and fourteen of this act, to the date of payment; and such increase of percentage shall be paid over and accounted for by such receiver from time to time, as a part of the tax collected by him. June 1. National and state banks furnish to assessors of tax district in which principal office is located a statement of condition as of May 1 preceding (Tax Law, See. 23) as follows: : 144 LAWS OF NEW YORK. The chief fiscal officer of every bank or banking association organized under the authority of this state, or of the United States, shall, on or before the first day of June, in each year, fur- nish the assessors of the tax district in which its principal office is located a statement under oath of the condition of such bank or banking association on the first day of May next preceding, stating the amount of its authorized capital stock, the number of shares and the par value of the shares.thereof, the amount of stock paid in, the amount of its surplus and of its undivided profits, if any, a complete list of the names and residences of its stockholders and the number of shares held by each. In case of neglect or refusal on the part of any bank or banking associa- tion to report as herein prescribed, or to make other or further reports as may be required, such bank or banking association shall forfeit the sum of one hundred dollars for each failure, and the additional sum of ten dollars for each day such failure continues, and an action therefor shall be prosecuted by the county treasurer of the county in which such bank or banking association so neglecting or refusing to report is located, in the city of Buffalo: by the city treasurer of said city, and in the city of New York by the receiver of taxes thereof. There shall, in addition to such report, be kept in the office of every such bank or banking associa- tion a full and correct list of the names and residences of all stock- holders therein, and of the number of shares held by each, and such lists shall be subject to the inspection of the assessors at all times. The list of stockholders furnished by such bank or banking association shall be deemed to contain the names of the owners of such shares as are set opposite them, respectively, for the purpose of assessment and taxation. (Thus am’d by L. 1916, chap. 323;. L. 1917, chap. 153, in effect Apr. 6, 1917.) June 1. , In Westchester and Nassau counties assessment rolls for general property tax of following year are opened for public inspection and remain open until third Tues- day of August (Laws 1916, Chap. 105, Sec. 10; Laws 1917, Chap. 297, See. 17). LAWS OF NEW YORK. 145. June 1. Five per cent penalty added to unpaid general prop- erty tax in Westchester county (Laws 1916, Chap. 105, Sees. 15, 18). June 1. Second half of real estate tax due in Nassau county and may be paid without penalty until July 10 (Laws. 1917, Chap. 297, Sec. 31). June 1. Moneyed or stock corporations. deriving an income from their capital make report to tax assessors (Tax Law, Sees. 27, 28) as follows: Sec. 27. The president or other proper officer of every moneyed or stock corporation deriving an income or profit from its capital or otherwise shall, on or before June first, deliver to one of the assessors of the tax district in which the company is liable to be taxed, a written statement in the form prescribed by the tax com- mission specifying: 1. The real property, if any, owned by such company, the tax district in which the same is situated and, unless a railroad cor- poration, the sums actually paid therefor. 2. The capital stock actually paid in and secured to be paid in, excepting therefrom the sums paid for real property and the amount of such capital stock held by the state and by any incor- porated literary or charitable institution, and 3. The tax district in which the principal office of the company is situated or in case it has no principal office, the tax district im which its operations are carried on. Such statement shall be verified by an officer of the corporation making the report to the effect that it is in all respects just and true. If such statement is not made within twenty days after the first day of June, or is insufficient, evasive or defective, the 146 LAWS OF NEW YORK. assessors may compel the corporation to make a proper statement by mandamus. (Thus am’d by L. 1916, chap. 32, in effect Apr. 26, 1916.) Sec. 28. In case of neglect to furnish such statements within thirty days after the time above provided, the company so neglecting shall forfeit to the people of this state for each statement so omitted to be furnished, the sum of two hundred and fifty dollars, and ir shall be the duty of the attorney-general to prosecute for such penalty upon information which shall be furnisheed him by the tax commission. Upon such statement being furnished and the costs of the suit being paid, the tax commission, if it shall be satisfied that such omission was not wilful, may, in its discretion, discon- tinue such suit. (Thus am’d by L. 1916, chap. 323, in effeet Apr. 26, 1916.) June 1. Franchise tax of one per cent on premiums payable by foreign and domestic insurance companies (Tax Law, Sec. 187) as follows: An annual state tax for the privilege of exercising corporate franchises or for carrying on business in their corporate or or- ganized capacity within this state equal to one per centum on the gross amount of premiums received during the preceding calandar year for business done at any time in this state, which gross amount of premiums shall include all premiums received during such preceding calendar year on all policies, certificates, renewals, policies subsequently canceled, insurance and reinsurance during such preceding calendar year, and all premiums that are received during such preceding calendar year on all policies, certificates, renewals, policies subsequently canceled, insurance and reinsurance executed, issued or delivered in all years prior to such preceding calendar year, whether such premiums were in the form of money, notes, credits, or any other substitute for money, but such gross amount of premiums shall not include premiums refunded to policyholders as dividends or on cancellation or return of policies LAWS OF NEW YORK. 147 nor amounts paid as reinsurance to such other companies as are subject to taxation under this section, shall be paid annually into the treasury of the state on or before the first day of June by the following corporations: , 1. Every domestic insurance corporation, incorporated, organ- ized or formed under, by or pursuant to a general or special law; 2. Every insurance corporation, incorporated, organized or formed under, by or pursuant to the laws of any other state of the United States, and doing business in this state, except a cor- poration doing a fire insurance business or a marine insurance business; 3. Every insurance corporation, incorporated, organized or formed under, by or pursuant to the laws of any state without the United States, or of any foreign country, except such a corpora- tion doing a life, health or casualty insurance business, and doing business in this state; but the tax on gross premiums of a corpo- ration so incorporated, organized or formed and doing a fire or marine insurance business within the state shall be equal to five- tenths of one per centum. This section does not apply to a fra- ternal beneficiary society, order or association, a corporation for the insurance of domestic animals, a town or county co-operative ‘insurance corporation, nor to any corporation subject to the super- vision of or required by or in pursuance of law to report to the superintendent of banks; but this section does apply to an indi- vidual, or partnership, or association of underwriters known as Lloyds in so far as corporations doing the same kind of insurance business are subject to its provisions. The taxes imposed by this section shall be in addition to all other: fees, licenses or taxes imposed by this or any other law, except that in assessing taxes under the reciprocal provisions of section thirty-four of the insur- ance law, credit shall be allowed for any taxes paid under this section. The term ‘‘insurance corporations’’ as used in this article, shall include a corporation, association, joint-stock com- pany or association, person, society, aggregation or partnership by whatever name known doing an insurance business in this state. June 1 to 5. In Westchester and Nassau counties assessors send notice of assessment for general property tax to non- 148 LAWS OF NEW YORK. residents who have requested it (Laws 1916, Chap. 105, See. 10; Laws 1917, Chap. 297, See. 17). June 15. Last day for corporations nonresident of tax district to file demand with local assessors for notice of assess- ment (except in Westchester and Nassau counties). (For text see page 180.) June 30. Last day to pay water charges for current year in New York City with only five per cent penalty added thereto. (For text of law see page 34.) June 30. In New York City, last day to begin certiorari pro- ceedings to review determination of Board of Taxes and Assessments as to assessment (Charter, Sec. 906) as follows: A certiorari to review or correct on the merits any final deter- mination of the board of taxes and assessments shall be allowed by the supreme court or any justice thereof, directed to the com- missioners of taxes and assessments on the verified petition of the party aggrieved, but only on the grounds which must be specified in such petition, that the assessment is illegal, and giving the par- ticulars of the alleged illegality, or that it is erroneous by reason of over-valuation, or in case of real estate, that the same is errone- ous by reason of inequality, in that the assessment has been made at a higher proportionate valuation than the assessment of other real estate of like character in the same ward or section or other real estate on the tax-rolls of the city for the same year, specifying the instances in which such inequality exists, and the extent thereof, and stating that he is or will be injured thereby. Such certiorari and all proceedings thereunder may be had and taken in the judicial district where such real estate is situated, and LAWS OF NEW YORK. 149 may be begun at any time before the first day of July following the time when the determination sought to be reviewed or corrected was made. (As amended by Laws of 1911, Chapter 455.) June 30. Last day for corporations acting as agent for foreign insurance companies to procure certificate of authority from Superintendent of Insurance. (For text of law. See page 44.) 150 LAWS OF PENNSYLVANIA. PENNSYLVANIA. June 1. In the city of Philadelphia 5% plus interest from December 31st preceding is added to unpaid taxes of previous year (Act April 19, 1883, Sec. 13, P. L. 12). First Monday of June. Banks of discount and deposit transmit list of stock- holders, giving names, residences and number of shares held by each, and verified by the president and cashier, to the Commissioner of Banking (Act May 13, 1876, Sec. 15; Act Feb. 11, 1895, P. L. 4). June 20. National and state banks and savings banks file with Auditor General a report under oath of the full num- ber of shares subscribed for or issued, and the actual value thereof, which shall be computed by adding to- gether the amount of capital stock paid and the sur- plus and undivided profits, and dividing this sum by the number of shares. Corporations, however, which elect to collect and pay the tax upon their shares be- fore March 1 (see Summary of Pennsylvania Taxation on page 283 hereof) are not required to make a report on June 20 (Act July 15, 1897, P. L. 292). June 20. Title insurance and trust companies file with Auditor General a report identical with the preceding, unless they elect to collect and pay the tax upon their shares before March 1 (see Summary of Pennsylvania Taxa- tion on page 284 hereof) in which case this report is not required (Act June 13, 1907, Sec. 1, P. Tu. 640.) FEDERAL LAWS. 151 JULY. FEDERAL. July 1. On or before this date corporations importing, deal- ing in or manufacturing opium, etc., must register their names, places of business, ete., with Collector of In- ternal Revenue and pay tax (Rev. Act 1918, Sec. 1006) as follows: That section 1 of the Act of Congress approved December 17, 1914, is hereby amended to read as follows: Section 1. That on or before July 1 of each year every person who imports, manufacturers, produces, compounds, sells, deals in, dispenses, or gives away opium or coea leaves, or any compound, manufacture, salt, derivative, or preparation thereof, shall register with the collector of internal revenue of the district his name or style, place of business and place or places where such business is to be carried on, and pay the special taxes hereinafter provided; Every person who on January 1, 1919, is engaged in any, of the activities above enumerated, or who between such date and the passage of this act first engages in any of such activities, shall within 30 days after the passage of this act make like regis- tration, and shall pay the proportionate part of the tax for the period ending June 30, 1919; and Every person who first engages in any of such activities after the passage of this act shall immediately make like registration and pay the proportionate part of the tax for the period ending on the following June 30th; : Importers, manufacturers, producers, or compounders, $24 per annum; wholesale dealers, $12 per annum; retail dealers, $6 per annum; physicians, dentists, veterinary surgeons, and other prac- titioners lawfully entitled to distribute, dispense, give away, or administer any of the aforesaid drugs to patients upon whofn they in the course of their professional practice are in attendance, shall pay $3 per annum. ‘ 152 FEDERAL LAWS. Every. person who imports, manufactures, compounds, or other- wise produces for sale or distribution any of the aforesaid drugs shall be deemed to be an importer, manufacturer, or producer. Every person who sells or offers for sale any of said drugs in the original stamped packages, as hereinafter provided, shall be deemed a wholesale dealer. Every person who sells or dispenses from original stamped pack- ages, as hereinafter provided, shall be deemed a retail dealer: Provided, That the office, or if none, the residence, of any person shall be considered for the purpose of this act his place of busi- ness; but no employee of any person who has registered and paid special tax as herein required, acting within the scope of his em- ployment, shall be required to register and pay special tax pro- vided by this section: Provided further, That officials of the United States, Territorial, District of Columbia, or insular posses- sions, State or municipal governments, who in the exercise of their official duties engage in any of the business herein described, shall not be required to register, nor pay special tax, nor stamp the aforesaid drugs as hereinafter prescribed, but their right to this exemption shall be evidenced in such manner as the Commissioner of Internal Revenue, with the approval of the Secretary of the Treasury, may by regulations prescribe. It shall be unlawful for any person required to register under the provisions of this act to import, manufacture, produce, com- pound, sell, deal in, dispense, distribute, administer, or give away any of the aforesaid drugs without having registered and paid the special tax as imposed by this section. That the word ‘‘person’’ as used in this act shall be construed to mean and include a partnership, association, company or corpo- ration, as well as a natural person; and all provisions of existing law relating to special taxes, as far as necessary, are hereby ex- tended and made applicable to this section. July 1 to 10. National banks make return to Treasurer of United States of notes in circulation. (For text of law see page 2.) FEDERAL LAWS. 153 July i to 31. National banks pay tax on notes in circulation. (For text of law see page 2.) First Monday of July. National banks transmit list of shareholders to Comptroller of the Currency (U. S. Rev. Stats., See. 5210) as follows: The president and cashier of every national banking association shall cause to be kept at all times a full and correct list of the names and residences of all the shareholders in the association, and the number of shares held by each, in the office where its business is transacted. Such list shall be subject to the inspection of all the shareholders and creditors of the association, and the officers authorized to assess taxes under State authority, during business hours of each day in which business may be legally ‘trans- acted. A copy of such list, on the first Monday of July of each year, verified by the oath of such president or cashier, shall be transmitted to the Comptroller of the Currency. July 20. Various monthly returns must be made by corpora- tions of different classes. For details see entries in January under ‘‘ 20th day of each month.’’ July 31. Corporation excise tax returns are due for capital stock tax. (Rev. Act 1918, Sec. 1000; U.S. Rev. Stats., See. 3173) as follows: Sec. 1000. (a) That on and after July 1, 1918, in lieu of the tax im- posed by the first subdivision of section 407 of the Revenue Act of 1916— (1) Every domestic corporation shall pay annually a special excise tax with respect to carrying on or doing business, equivalent 154 FEDERAL LAWS. to $1 for each $1,000 of so much of the fair average value of its capital stock for the preceding year ending June 30 as is in excess of $5,000. In estimating the value of capital stock the surplus and undivided profits shall be included; (2) Every foreign corporation shall pay annually a special ex- cise tax with respect to carrying on or doing business in the United States, equivalent to $1 for each $1,000 of the average amount of capital employed in the transaction of its business in the United States during the preceding year ending June thirtieth. (b) In computing the tax in the case of insurance companies such deposits and reserve funds as they are required by law or contract to maintain or hold for the protection of or payment to or apportionment among policyholders shall not be included. (c) The taxes imposed by this section shall not apply in any year to any corporation which was not engaged in business (or in the ease of a foreign corporation not engaged in business in the United States) during the preceding year ending June 30, nor to any corporation enumerated in section 231. The taxes imposed by this section shall apply to mutual insurance companies, and in the case of every such domestic company the tax shall be equiva- lent to $1 for each $1,000 of the excess over $5,000 of the sum of its surplus or contingent reserves maintained for the general use of the business and any reserves the net additions to which are included in net income under the provisions of Title II, as of the close of the preceding accounting period used by such company for purposes of making its income tax return: Provided, That in the case of a foreign mutual insurance company the tax shall be equivalent to $1 for each $1,000 of the same proportion of the sum of such surplus and reserves, which the reserve fund upon business transacted within the United States is of the total reserve upon all business transacted, as of the close of the preceding accounting period used by such company for purposes of making its income tax return. Sec. 3173. It shall be the duty of any person, partnership, firm, association, or corporation, made liable to any duty, special tax, or other tax imposed by law, when not otherwise provided for,‘(1) in case of a special tax, on or before the thirty-first day of July in each year, and (2) in other cases before the day on which the taxes accrue, FEDERAL LAWS. 155 to make a list or return, verified by oath, to the collector or a deputy collector of the district where located, of the articles or objects, including the quantity of goods, wares, and merchandise, made or sold and charged with a tax, the several rates and aggre- gate amount, according to the forms and regulations to be pre- scribed by the Commissioner of Internal Revenue, with the ap- proval of the Secretary of the Treasury, for which such person, partnership, firm, association, or corporation is liable. July 31. Various monthly returns must be made by different classes of corporations. For details see entries in January under ‘‘ last day of each month.”’ July 31. Returns due from corporations which are subject to the special taxes on occupations which are imposed by Sees. 1001 and 1002 of the Revenue Act of 1918. (See U.S. Rev. Stats., Sec. 3173, above.) The occupations subject to tax are the following: Sec. 1001. That on and after January 1, 1919, there shall be levied, col- lected, and paid annually the following special taxes: (1) Brokers shall pay $50. Every person whose business it is to negotiate purchases or sales of stocks, bonds, exchange, bullion, coined money, bank notes, promissory notes, other securities, pro- ‘duce or merchandise, for others, shall be regarded as a broker. If a broker is a member of a stock exchange, or if he is a member ‘of any produce exchange, board of trade, or similar organization, where produce or merchandise is sold, he shall pay an additional amount as follows: If the average value, during the preceding year ending June 30, of a seat or membership in such exchange or organization was $2,000 or more but not more than $5,000, $100; if such value was more than $5,000, $150. (2) Pawnbrokers shall pay $100. Every person whose business or occupation it is to take or receive, by way of pledge, pawn, or 156 FEDERAL LAWS. exchange, any goods, wares, or merchandise, or any kind of per- sonal property whatever, as security for the repayment of money loaned thereon, shall be regarded as a pawnbroker. (3) Ship brokers shall pay $50. Every person whose business it is as a broker to negotiate freights and other business for the owners of vessels, or for the shippers or consignors or consignees of freight carried by vessels, shall be regarded as a ship broker. (4) Customhouse brokers shall pay $50. Every person whose occupation it is, as the agent of others, to arrange entries and other customhouse papers, or transact business at any port of entry relating to the importation or exportation of goods, wares, or merchandise, shall be regarded as a customhouse broker. (5) Proprietors of theatres, museums, and concert halls, where a charge for admission is made, having a seating capacity of not more than two hundred and fifty, shall pay $50; having a seating capacity of more than two hundred and fifty and not exceeding five hundred, shall pay $100; having a seating capacity exceeding five hundred and not exceeding eight hundred, shall pay $150; having a seating capacity of more than eight hundred, shall pay $200. Every edifice used for the purpose of dramatic or operatic or other representations, plays, or performances, for admission to which entrance money is received, not including halls or armories rented or used occasionally for concerts or theatrical representations, and not including edifices: owned by religious, educational or charitable institutions, societies or organizations where all the proceeds from admissions inure exclusively to the benefit of such institutions, societies or organizations or exclusively to the benefit of persons in the military or naval forces of the United States, shall be regarded as a theater. Provided, that in cities, towns, or villages of five thousand inhabitants or less the amount of such payment shall be one-half of that above stated: Provided further, That whenever any such edifice is under lease at the time the tax is due, the tax shall be paid by the lessee, unless otherwise stipulated between the parties to the lease. (6) The proprietor or proprietors of circuses shall pay $100. Every building, space, tent, or area, where feats of horsemanship or acrobatic sports or theatrical performances not otherwise pro- vided for in this section are exhibited shall be regarded as a cireus: Provided, That no special tax paid in one State, Territory, or the District of Columbia shall exempt exhibitions from the ~*~ FEDERAL LAWS. 157 tax in another State, Territory, or the District of Columbia, and but one special tax shall be imposed for exhibitions within any one State, Territory, or District. ‘ (7) Proprietors or agents of all other public exhibitions or shows for money not enumerated in this section shall pay $15: Provided, That a special tax paid in one State, Territory, or the District of Columbia shall not exempt exhibitions from the tax in another State, Territory, or the District of Columbia, and but one special tax shall be required for exhibitions within any one State, Terri- tory, or the District of Columbia: Provided further, That this paragraph shall not apply to Chautauquas, lecture lyceums, agri- cultural or industrial fairs, or exhibitions held under the auspices of religious or charitable associations: Provided further, That an aggregation of entertainments, known as a street fair, shall not pay a larger tax than $100 in any State, Territory, or in the Dis- trict of Columbia. (8) Proprietors of bowling alleys and billiard rooms shall pay $10 for each alley or table. Every building or place where bowls are thrown or where games of billiards or pool are played, except in private homes, shall be regarded as a bowling alley or a billiard room respectively. (9) Proprietors of shooting galleries shall pay $20. Every build- ing, space, tent, or area, where a charge is made for the discharge of firearms at any form of target shall be regarded as a shooting gallery. (10) Proprietors of riding academies shall pay $100. Every building, space, tent, or area, where a charge is made for instruc- tion in horsemanship or for facilities for the practice of horse- manship shall be regarded as a riding academy. (11) Persons carrying on the business of operating or renting pasenger automobiles for hire shall pay $10 for each such auto- mobile having a seating capacity of more than two and not more than seven, and $20 for each such automobile having a seating capacity of more than seven. (12) Every person carrying on the business of a brewer, distiller, wholesale liquor dealer, retail liquor dealer, wholesale dealer in malt liquor, retail dealer in malt liquor, or manufacturer of stills, as defined in section 3244 as amended and section 3247 of the Revised Statutes, in any State, Territory, or District of the United States contrary to the laws of such State, Territory, or District, 158 FEDERAL LAWS. or in any place therein in which carrying on such business is pro- hibited by local or municipal law, shall pay, in addition to all other taxes, special or otherwise, imposed by existing law or by this act, $1,000. The payment of the tax imposed by this subdivision shall not be held to exempt any person from any penalty or punishment pro- vided for by the laws of any State, Territory, or District. for carrying on such business in such State, Territory, or District, or in any manner to authorize the commencement or continuance of such business contrary to the laws of such State, Territory, or District, or in places prohibited by local or municipal law. The taxes imposed by this section shall, in the case of persons upon whom a corresponding tax is imposed by section 407 of the Revenue Act of 1916, be in lieu of such tax. Sec. 1002. That on and after January 1, 1919, there shall be levied, col- lected, and paid annually, in lieu of the taxes imposed by section 408 of the Revenue Act of 1916, the following special taxes, the amount of such taxes to be computed on the basis of the sales for the preceding year ending June 30— Manufacturers of tobacco whose annual sales do not exceed fifty thousand pounds shall each pay $6; Manufacturers of tobacco whose annual sales exceed fifty thous— and and do not exceed one hundred thousand pounds shall each pay $12; Manufacturers of tobacco whose annual sales exceed one hun- dred thousand and do not exceed two hundred thousand pounds. shall each pay $24; Manufacturers of tobacco whose annual sales exceed two hun- dred thousand pounds shall each pay $24, and at the rate of 16 cents per thousand pounds, or fraction thereof, in respect to the: excess over two hundred thousand pounds; Manufacturers of cigars whose annual sales do not exceed fifty thousand cigars shall each pay $4; Manufacturers of cigars whose annual sales exceed fifty thous- and and do not exceed one hundred thousand cigars shall each: pay $6; Manufacturers of cigars whose annual sales exceed one hundred’ FEDERAL LAWS. 159 thousand and do not exceed two hundred thousand cigars shall each pay $12; Manufacturers of cigars whose annual sales exceed two hundred thousand and do not exceed four hundred thousand cigars shall each pay $24; Manufacturers of cigars whose annual sales exceed four hundred thousand cigars shall each pay $24, and at the rate of 10 cents per thousand cigars, or fraction thereof, in respect to the excess. over four hundred thousand cigars; Manufacturers of cigarettes, including small cigars weighing not more than three pounds per thousand, shall each pay at the rate of 6 cents for every ten thousand cigarettes or fraction thereof. In arriving at the amount of special tax to be paid under this. section, and in the levy and collection of such tax, each person engaged in the manufacture of more than one of the classes of articles specified in this section shall be considered and deemed a manufacturer of each class separately. 160 LAWS OF DELAWARE. DELAWARE. July 1. Last day to pay franchise tax for current year with- out penalty. After this date one per cent per month is added thereto. (For text of law see page 86.) First Monday of July. Local taxes become payable in New Castle county and tax collectors post notices of the time and place when they will attend to receive the same (Code 1915, Par. 1148). LAWS OF MAINE. 161 MAINE.. July 1. All certificates of authority granted to foreign surety, credit and insurance companies and all licenses issued to insurance agents, representatives and brokers expire unless renewed (Rev. Stats. 1916, Chap. 53, Sees. 102, 105, 121, 150; Chap. 54, Sec. 29). July 1. Board of State Assessors assess franchise tax on do- mestic business corporations (Rev. Stats. 1916, Chap. 9, See. 19) as follows: The board of state assessors shall, on or before the first day of July, annually, assess the tax provided by the preceding section upon the authorized capital stock of each of said corporations and shall certify the same to the secretary of state, who shall there- upon notify each of said corporations of the amount of said tax . assessed to it, and such tax shall become due and payable from said corporation into the state treasury, on the first day of Sep- tember thereafter. July 1. Secretary of State notifies attorney-general of do- mestic business corporations which have failed to file franchise tax report (Rev. Stats. 1916, Chap. 51, See. 30) as follows: Whenever any corporation or its officers neglect to make to the seeretary of state any return required by law, the secretary of state shall forthwith notify the attorney-general, who shall proceed at once by action of debt in the name of the state, to enforce the penalties therefor, and shall make itemized return thereof in his annual report. The secretary of state, on or before 162 LAWS OF MAINE. the first day of July, annually, shall furnish the attorney-general with a statement showing which of said corporations, if any, have failed to comply with the preceding section, with such other memoranda from his office as will aid the attorney-general in obtaining service upon such delinquent corporation. In addition to said penalties, the following costs shall be recovered in behalf of the state against said corporation, to wit: for the attorney- general, for the writ, an attorney fee, and travel and attendance at court not exceeding two terms; and for the state, such other costs as are legally taxable in actions at law. Such action may be brought in any county. LAWS OF MASSACHUSETTS—NEW JERSEY. 163 MASSACHUSETTS. July 1. Renewal license fee of $2.00 must be paid by agents of foreign insurance companies before this date (Laws. 1907, Chap. 576, Sec. 93). ; NEW JERSEY. / . July 1. Vv Real estate on which taxes for preceding year re- main unpaid may be sold (Public Laws 1918, p. 886) as follows: : When any municipal lien, or part thereof, on real property re- mains in arrears on the first day of July in the year following the date when the same became in arrears, the collector, or other officer charged by law in the municipality with that duty, shall enforce such lien by selling such property in the manner set forth in this act. The term ‘‘collector’’ as hereinafter used shall be taken to in- elude any such officer, and the term ‘‘officer’’ shall be taken to include the collector. / . July 1. zc Last day for domestic corporations to pay franchise ' tax without interest; interest at the rate of 1% per month is charged thereafter (see text of law on page 140). July 1. Domestic corporations which have failed to pay fran- chise taxes for two years may be dissolved (Public Laws 1905, p. 508; Duryea vs. Amer. W. Machine Co., 133 Fed. Rep. 329) after this date. July 15. Last day for fire insurance companies to file semi- annual list of brokers (see text of law on page 29). 164 LAWS OF NEW YORK. NEW YORK. July 1. Last day for insurance companies to pay franchise tax without penalty. After this date five per cent is added thereto plus one per cent per month until the tax is paid (Tax Law, Sec. 197). July 1. - Last day for moneyed corporations to file statement with local assessors without penalty. (For text of law see page 145.) July 1. ‘| Domestie and foreign business corporations file in- come tax report with State Tax Commission (Tax Law, Sees. 211 to 213) as follows: Sec. 211. Every corporation taxable under this article as well as foreign corporations having officers, agents or representatives within the state shall annually on or before July first, or within thirty days after the making of its report of entire net income to the United States treasury department for any fiscal or calendar year, trans- mit to the tax commission a report in the form prescribed by the tax commission specifying: 1. The name and location of the principal place of business of such corporation, the state under the laws of which organized, and the date thereof; the amount of its issued capital stock and the kind of business transacted. Any corporation not organized under the laws of any state within the United States shall state the facts in relation to its entire net ineome as though organized under the laws of this state. 2. The amount of its entire net income for its preceding fiscal or the preceding calendar year as shown in the last return of annual net income made by it to the United States treasury department. If the corporation shall claim that the retu’n made LAWS OF NEW YORK. 165 to the United States treasury department was inaccurate, the amount claimed by it to be the net income for such period shall be specified. If any deduction has been allowed for losses sus- tained by the corporation in prior years the amount so allowed and deducted shall be specified. 3. The average monthly value for the fiscal or calendar year of its real property and tangible personal property in each city, village or portion of a town outside of a-village within the state, and the average monthly value of all its real property and tangible personal property wherever located. 4, The average monthly value for the fiscal or calendar year of bills and accounts receivable for (a) personal property sold by the corporation from merchandise manufactured by it within this state; (b) personal property sold by the corporation from merchandise owned by it and located within the state at the time of the acceptance of the order, but not manufactured by it within this state; and (c) services performed, based on all orders re- ceived at offices maintained by the corporation within this state; excluding bills and accounts receivable arising from sales made from a stock of merchandise or other propertly located at a place of business maintained by the reporting corporation within this state. Also the average total monthly value for the fiscal or calendar year of bills and accounts receivable for (a) personal property sold by the corporation from merchandise manufactured by it within and without the state, (b) personal property sold by the corporation from merchandise owned by it at the time of the acceptance of the order but not manufactured by it; and (ec) services performed, based on orders received at offices main- tained by the corporation, excluding bills and accounts receivable on orders filled from a stock of merchandise or other property maintained by the reporting company. 5. The average total value for the fiscal or calendar year of the stock of other corporations owned by the corporation, and the pro- portion of the average value of the stock of such other corpora- tions within the state of New York, as allocated pursuant to sec- tion two hundred and fourteen of this chapter. 6. If the corporation has no real or tangible personal property within the state, the city, village or portion of a town outside of a village in the state in which is located the office in which its principal financial concerns within the state are transacted. 166 LAWS OF NEW YORK. 7. Such other facts as,the tax commission may require for the purpose of making the computation required by this article. 8. Any corporation taxable hereunder upon its entire net in- come may omit from its report the statements required by sub- divisions four and five by incorporating in its report a consent to be taxed upon its entire net income. Corporations having no net income shall, however, complete the segregation of assets in every case. Sec. 212. A corporation which reports to the Unnted States treasury de- partment on the basis of its fiscal year, may report to the tax commission upon the same basis, except as provided in section two hundred and fourteen-a of this chapter. Sec. 213. Every report required by this article shall have annexed thereto the affidavit of the president, vice-president, secretary or treasurer of the corporation to the effect that the statements contained therein are true. Blank forms of the report shall be furnished by the tax commission, on application, but failure to secure such a blank shall not release any corporation from the obligation of making a report herein required. The commission may require a further or supplemental report under this article to contain fur- ther information and data necessary for the computation of the tax herein provided. : July 1. Residence on this date determines place of assess- ment and taxation for the year (Tax Law, See. 8). July 1. Real estate is assessed as of this date, except in New York City (Tax Law, Sec. 9). LAWS OF NEW YORK. 167 July 1. Ten per cent penalty added to unpaid water charges for current year in New York City. (For text of law see page 34.) July 1. On or before this date trustees of savings banks make semi-Annual examination of its affairs. (For text see page 33.) July 1. Receivers of insolvent banking corporations file re- port with Superintendent of Banks. (For text of law see page 36.) July 1 to 31. Corporations licensed to act as agent for foreign fire insurance companies which are not authorized to do business in New York pay three per cent of gross pre- miums, etc. (For text of law see page 42.) July 1 to 31. Corporations which have made trust mortgages against which all bonds have not been issued file state- ment with Tax Commission and also in office where mortgage is recorded (Tax Law, Sec. 259) as follows: In the case of mortgages made by corporations in trust to secure payment of bonds or obligations issued or to be issued thereafter, if the total amount of principal indebtedness which under any con- tingency may be advanced or accrue or which may become ‘secured by any such mortgage which is subject to this article has not been advanced or accrued thereon or become secured thereby before such mortgage is recorded, it may contain at the end thereof a statement of the amount which at the time of the execution and delivery thereof has been advanced or accrued thereon, or which 168 LAWS OF NEW YORK. is then secured by such mortgage; thereupon the tax payabie on the recording of the mortgage shall be computed on the basis of the amount so stated to have been so advanced or acerued thereon or which is stated to be secured thereby. Such statement shall thereafter at all times be binding upon and conclusive against the mortgagee, the holders of any bonds or obligations secured by such mortgage and all persons claiming through the mortgagee any interest in the mortgage or in the mortgaged premises. When- ever a further amount is to be advanced under the orignial mort- gage, or shall accrue thereon or become secured thereby, the corporation making such mortgage shall pay the tax on such amount at or before the time when such amount is to be advanced, + acerues or becomes secured and shall at the time of paying such tax, file in the office of the recording officer where such mortgage has been or is first recorded and with the tax commission a state- ment, verified by the secretary, treasurer or other proper officer of said corporation of the amount of principal indebtedness to be so advanced, accruing or becoming secured, and the certification of any bond or bonds by the trust mortgagee shall be deemed an advance under this article. Such additional tax shall be paid to the recording officer where such mortgage has been or is first recorded and a receipt therefor shall be indorsed upon the mort- gage and payment therefor shall be noted in the margin of the record of such mortgage and if requested a duplicate receipt for such payment shall also be given to the party paying such tax and the note of such payment or additional payment or such receipt shall have the same force and effect as the record of receipt of the tax which under this article is payable at or before the recording of the mortgage. If such additional tax is not paid as required by this section, the trust mortgagee shall not certify any bond or other obligation issued on account thereof. The corporation making such mortgage or the owner of the property which secures the mortgage debt shall annually within thirty. days after July first, and until it shall appear by such statement that the maximum amount of principal indebtedness secured by such mortgage has been advanced, has accrued or become secured and the tax thereon paid, file in the office of the tax commission and the recording officer where such mortgage has been or is first recorded a state- ment, verified by the secretary, treasurer or other proper officer of said corporation, showing: LAWS OF NEW YORK. 169 1. The name of the mortgagor and the mortgagee; 2. The date of the mortgage and the county where first recorded; * 3. The maximum amount of principal debt or obligation which under any contingency may be secured by such mortgage; 4, The amount advanced on such mortgage during the year end- ing June thirtieth preceding, with the date and the amount of each advancement; 5. In the case of a mortgage recorded prior to July first, nine- teen hundred and six, the first annual statement filed under this section as hereby amended, shall state the total amount advanced prior to July first, nineteen hundred and six, and the date and the amount of each subsequent advancement to the end of the period covered by the statement. A failure to file any statement required by this section within the specified time shall’ subject the corporation or other person required to file such statement to a penalty of not less than one dollar nor more than one hundred dollars for each one thousand dollars of the maximum amount of principal indebtedness which is or under any contingency may become secured by the mortgage, which penalty in the aggregate shall not exceed the sum of five thousand dollars, recoverable by the attorney-general in an ac- tion brought in the name of the people of the state of New York. July 1 to August 31. Domestic life insurance companies which have de- posited securities to secure registered policies and an- ‘nuity bonds make report of such policies and bonds to Superintendent of Insurance (Insurance Law, Sec. 74) as follows: Every such corporation shall annually on July first or within sixty days thereafter report to the superintendent of insurance under the oath of the president and actuary the exact condition of the registered policies received from the superintendent and of the premium account of such policies, and shall deposit with the superintendent additional securities of the kind in which the minimum amount of cash capital of domestic insurance corpora- tions is required to be invested by the provisions of section six- teen of article one of this chapter, to an amount equal to any 170 LAWS OF NEW YORK. increase in value of the policies heretofore issued and which shall remain in force, valued by the same rule as upon the issue thereof. No one bond or mortgage so deposited shall be for a less sum than five thousand dollars. The securities thus from time to time de- posited, or so large an amount thereof as may be necessary to equal at all times the net value of all the outstanding registered policies and annuity bonds of such corporation, shall be held by the super- intendent in trust, as provided in the preceding section, until the obligations of such corporation under such registered policies and annuity bonds shall, to the satisfaction of the superintendent, be fully liquidated, canceled and annulled. The state shall not be deemed to have incurred any obligation to pay the policies and annuity bonds so issued, beyond the proper application of the securities so deposited toward their liquidation, as in this article provided. The treasurer of the state, and any person duly authorized by the depositing or reinsuring corporation, shall, at all times, in the usual office hours, have access to the books and other docu- ments in the insurance department relating to the deposits made, and policies and annuity bonds issued, under the provisions of this article, and to such securities as may be necessary for the examination thereof. The treasurer shall for the services required by this chapter receive an annual salary of two hundred and fifty dollars to be paid by the corporations availing themselves of the provisions of this and the preceding section. Any such depositing corporation may at any time withdraw any excess of securities above the net present value hereinbefore speci- fied, upon satisfying the superintendent by written proof to be filed in the department that such excess exists, and shall be al- lowed to receive the interest on all securities deposited and to ex- change such securities by substituting other securities of the kind in which the minimum amount of cash capital of domestic in- surance corporations is required to be invested by the provisions of section sixteen of article one of this chapter. July 11. In Nassau county interest at seven per cent from June 1st is added to unpaid general property tax (Laws 1917, Chap. 297, Sec. 31). LAWS OF PENNSYLVANIA. 171 PENNSYLVANIA. a July 1. Trust companies which are depositaries of bonds for foreign bond and investment companies or foreign building and loan associations make report thereof to the Commissioner of Banking. (For text of law see page 46.) July 1. Domestic stock insurance companies make report to the Auditor General of premiums received during pre- ceding six months. (For text of law see page 47.) July 1. In the city of Philadelphia 6% plus interest from December 31st preceding is added to unpaid taxes of previous year (Act April 19, 1883, See. 13, P. L. 12). July 1. Mercantile licetise tax due and payable by wholesale and retail merchants and by manufacturers who keep a store or warehouse for selling goods separate from their factory (Act May 2, 1899, P. L. 184; Act June 14, 1901, Sec. 1, P. L. 565). ; For rates of tax, see Summary of Pennsylvania Tax- ation at page 285 hereof. July 1. Penalty of 1% added to unpaid city and poor taxes in third-class cities, plus 1% additional on the first of 172 LAWS OF PENNSYLVANIA. each month thereafter until paid (Act May 29, 1917; P. Li. 1917, p: 315). July 31. Last day to make third quarterly payment of local taxes in second-class cities without penalty (Act July 20, 117s Ps Li. TOT, p. 1173). July 31. Domestic stock insurance companies pay tax of eight mills on the dollar (4/5 of 1%) on gross premiums re- ceived during six months ending on preceding June 30. (For text of law see page 47.) FEDERAL LAWS. 173° AUGUST. FEDERAL. August 10. Monthly returns required from dealers in leaf to- bacco and manufacturers of playing cards. For details see entries under January. August 20. Various monthly returns must be made by corpora- tions of different classes. For details see entries in January under ‘‘ 20th day of each month.”’ August 31. Various monthly returns must be made by corpora- tions of different classes. For details see entries in January under ‘‘ Last day of each month.’’ 174 LAWS OF MAINE. MAINE. August 1 to 31. During this period the Secretary of State publishes a list of corporations which have failed to pay their franchise tax for the preceding year (Rev. Stats. 1916, Chap. 9, Sec. 23) as follows: The secretary of state shall annually prepare a list of all cor- porations that have failed to pay their annual franchise tax for the preceding year, giving the corporate name, the name of the treasurer last filed in the office of the secretary of state, and the amount of the tax due from each corporation, except those from which by reason of having been duly excused as provided by statutes, or dissolved by decree of court, no franchise tax is due for such year, which list shall be published three times for three consecutive weeks in the month of August in three places within the state, namely, Bangor, Portland, and Augusta, in such news- papers in each place as the secretary of state may select. If any corporation so advertised shall fail to pay all franchise tax due the state for such year, and the expenses of advertising the same, on or before the first day of December following, its charter shall be suspended, and such corporation shall have no right to use the same. , LAWS OF NEW JERSEY. 175 NEW JERSEY. August h/ If franchise taxes for the current year remain un- paid on this date, an action at law may be commenced to enforce payment (Act April 18, 1884, Sec. 6; for text see page 141). 176 LAWS OF NEW YORK. NEW YORK. August 1. Domestic trust companies, savings banks and invest- ment companies file franchise tax reports on or before this date (Tax Law, Sec. 192, subs. 7, 8, 9) as follows: 7. Trust companies. Every company liable to pay a tax under seetion one hundred and eighty-eight of this chapter shall, on or before August first in each year, make a written report to the tax commission of its condition at the close of business on June thirtieth preceding, separately stating the amount of its capital stock, the amount of its surplus, and the amount of its undivided profits, and containing such other data, information or matter as the comptroller may require. 8. Savings banks. Every savings bank liable to pay a tax under section one hundred and eighty-nine of this chapter, shall on or before August first in each year, make a written report to the tax commissioner of its condition at the close of business on June thirtieth preceding, stating the par value of its surplus, and un- divided earnings and containing such other data, information or matter as the tax commission may require. 9. Investment companies. Every investment company liable to pay a tax under section one hundred and eighty-eight-a of this chapter shall, on or before August first in each year, make a writ- ten report to the tax commission of its condition at the close of business on June thirtieth preceding, separately stating the amount of its capital stock, the amount of its surplus, and the amount of its undivided profits, and containing such other data, informa tion or matter as the tax commission may require. Note: The sections of the Tax Law under which these corporations are taxed read as follows: Sec. 188. Every trust company incorporated, organized or formed under, by or pursuant to a law of this state, and any company authorized to do a trust company’s business solely or in connection with LAWS OF NEW YORK. 117 any other business, under a general or special law of this state, shall pay to the state annually for the privilege of exercising its corporate franchise or carrying on its business in such corporate or organized capacity, an annual tax which shall be equal to one per centum on the amount of its capital stock, surplus, and undivided profits. Sec. 188a. Every investment company incorporated, organized or formed under, by or pursuant to the banking law of this state and ac- tually exercising the powers conferred by both subdivisions two and four of section two hundred and ninety-three of the banking law, shall annually pay to the state, for the privilege of exercising its corporate franchise or carrying on its business in such cor- porate or organized capacity, a tax of an amount equal to one and one-half mills for every dollar face value of its capital, and. in addition thereto a tax equal to one per centum of its surplus. and undivided profits. (Added by L. 1917, chap. 707, in effect June 1, 1917.) Sec. 189. Every savings bank incorporated, organized or formed under, by or pursuant to a law of this state, shall pay to the state an- nually for the privilege of exercising its corporate franchise or carrying on its business in such corporate or organized capacity, an annual tax which shall be equal to one per centum on the par value of its surplus and undivided earnings. August 1. Savings banks file semi-annual report with Superin- tendent of Banks as of July Ist. (For text of law see page 63.) August 1. Assessors complete general property tax assessment, assessment roll is open for public inspection and re- 178 LAWS OF NEW YORK. mains open until third Tuesday of August. (Does not apply to New York City, Nassau and Westchester counties.) (Tax Law, Sec. 36) as follows: The assessors shall complete the assessment-roll on or before the first day of August, and make out a copy thereof, to be left with one of their number, and forthwith cause a notice to be con- spicuously posted in three or more public places in the tax dis- trict, stating that they have completed the assessment-roll, and that a copy thereof has been left with one of their number at a specified place, where it may be seen and examined by any per- son until the third Tuesday of August next following, and that on that day they will meet at a time and place specified in the notice to review their assessments. In any city the notice shall conform to the requirements of the law regulating the time, place and manner of revising assessments in such city. During the time specified in the notice the assessor with whom the roll is left shall submit it to the inspection of every person applying for that purpose. August 1. In Westchester county penalty of seven per cent is added to unpaid general property tax (Laws 1916, Chap. 105, Sees. 15, 18). August 1. If general property tax of preceding year, with in- terest thereon at 10% remains unpaid on this date, County Treasurer advertises lands to be sold in six months. This applies to St. Lawrence, Franklin, Lewis, Clinton, Warren and Washington counties and counties not including a portion of the forest preserve (Tax Law, See. 150). August 1 to 5. Except in Westchester and Nassau counties, notice of assessment of general property tax is mailed to cor- LAWS OF NEW YORK. 179 porations nonresident of tax district who have re- quested it (Tax Law, Sec. 36a; for text see page 180). August 15. In New York City, if personal property tax remains unpaid, Receiver of Taxes may issue warrant to mar- shal to collect the same (Charter, Sec. 926) as follows: It shall be lawful for the said receiver, if any tax for personal property and the interest thereon, as hereinbefore provided, shall remain unpaid on the fifteenth day of the month of August, suc- ceeding the receipt by him of the rolls, to issue his warrant under his hand and seal directed to any marshal commanding him to levy the said tax, with interest thereon at the rate of seven per centum per annum from the day on which said taxes became due and payable as provided by section nine hundred and fourteen of this act to the time when the same shall be paid by distress and sale of the goods and chattels of the person against whom the said warrant shall be issued, or of any goods and chattels in his or her possession, wheresoever the same shall be found within the said city, and to pay the same to the said receiver and return ‘such warrant within thirty days after the date thereof. For the purpose of this section the jurisdiction of the marshal is co-ex- tensive with the City of New York. The comptroller of the City of New York, however, may from time to time as may be neces- ‘sary to insure prompt collection of said tax, extend or renew such warrant, but no single extension or renewal thereof shall in any event exceed sixty days. Third Tuesday of August. Assessors meet to review assessments for general property tax. (For text of law see page 180.) Third Tuesday of August. Last day for corporations having property in more than one tax district in a county to make application 180 LAWS OF NEW YORK. to assessors for review of assessment (Tax Law, Secs. 36a, 37) as follows: Sec. 36a. The assessors shall between the first and fifth day of August mail a notice to each person and corporation non-resident of their tax district, who has filed with the city or town clerk, on or before the fifteenth day of June preceding, a written demand therefor. Such notice shall specify each parcel or portion of real property separately assessed to said nonresident person or corporation and the assessed valuation thereof. Upon application made on or before the third Tuesday of August by any nonresident owner of real estate, or by a corporation, having real property in more than one tax district in the county, the assessors shall fix a time subsequent to the third Tuesday in August, but not later than the thirty-first day of August, for a hearing and to review their assess- ment. (Added by L. 1916, chap. 323, in effect Apr. 26, 1916; thus am’d by L. 1917, chap. 489, in effect May 15, 1917.) Sec. 37. The assessors shall meet at the time and place specified in such notice, and hear and determine all complaints in relation to such assessments brought before them, and for that purpose they may adjourn from time to time. Such complainants shall file with the assessors a statement, under oath, specifying the respect in which the assessment complained of is incorrect, which statement must be made by the person assesed or whose property is assessed, or by some person authorized to make such statement,.and who has. knowledge of the facts stated therein. The assessors may ad- minister oaths, take testimony and hear proofs in regard to any such complaint and the assessment to which it relates. If not satisfied that such assessment is erroneous, they may require the person, assessed, or his agent or representative, or, any other person, to appear before them and be examined concerning such complaint, and to produce any papers‘relating to such assessment with respect to his property or his residence for the purpose of taxation. The assessors shall, after said examination, fix the value of the property of the complainant and for that purpose may increase or diminish the assessment thereof. If any such LAWS OF NEW YORK—PENNSYLVANIA. 181 person, or his agent or representative, shall wilfully neglect or refuse to attend and be so examined, or to answer any material - question put to him, such person shall not be entitled to any re- duction of his assessments. Minutes of the examination of every person examined by the assessors upon the hearing of any such complaint shall be taken and filed in the office of the town or city clerk, August 31. Last day for certain domestic life insurance com- panies to make report to Superintendent of Insurance of registered policies and annuity bonds. (For text of law see page 169.) August 31. Last day for hearing by assessors to review general property tax assessment of nonresidents and corpora- tions having property in more than one tax district in the county. (For text of law see page 180.) PENNSYLVANIA. August 1. In the city of Philadelphia 7% plus interest from December 31st preceding is added to unpaid taxes of previous year (Act April 19, 1883, See. 13, P. L. 12). August 1. Third quarterly payment of local taxes for current year in second-class cities becomes delinquent; 2% penalty added thereto plus 44% monthly until paid (Act July 20, 1917; P. L. 1917, p. 1173). 182 FEDERAL LAWS. SEPTEMBER. FEDERAL. September 10. Monthly returns required from dealers in leaf to- bacco and manufacturers of playing cards. For details see entries under January. September 15. Third quarter of income tax due and payable. (For text of law see page 77.) September 15. Last day to which Commissioner of Internal Revenue will extend time for income tax returns made on basis of calendar year, except in cases of nonresidence, ete. (Regulations 45, Art. 444) as follows: If before the end of an extension of thirty days granted by the- collector an accurate return can not be made, an appeal for a further extension must be made to the commissioner with a full recital of the causes for the delay. The commissioner will not grant an additional extension without a clear showing that a com-- plete return can not be made at the end of the thirty day period, The commissioner will grant no such extension beyond the original due date of the third installment of the tax. Either a complete or a tentative return, as complete as possible and giving a ground for assessment of the tax, must be submitted on or before the due date as extended, and the tax shown to be due must be paid with the submission of the return. If a complete return can not be made at that time, the facts must be submitted to the commissioner for such further action as he deems warranted. In exceptional cir-- cumstances the taxpayer may apply originally to the commis- sioner for an extension of time. FEDERAL LAWS—LAWS OF DELAWARE. 183 September 20. Various monthly returns due from corporations of different classes. For details see entries in January under ‘‘ 20th day of each month.”’ September 30. Various returns must be made by different classes of corporations. For details see entries in January un- der ‘‘ Last day of each month.’’ DELAWARE. September 30. Last day to get discount of five per cent on local taxes paid in New Castle and Sussex counties (Code 1915, Pars. 1174, 1220). September 30. Last day to get discount of three per cent on local taxes paid in Kent county (Code 1915, Par. 1215). 184 LAWS OF MAINE. MAINE. September 1. Domestic business corporations which have failed to pay their franchise tax for the preceding year are liable to forfeit their charters after this date (Rev. Stats. 1916, Chap. 9, See. 21) as follows: If any corporation liable to taxation under section eighteen shall for one year neglect or refuse to pay to the state any tax or penalty assessed against it hereunder, its charter shall be liable to forfeiture as hereinafter provided. September 1. Franchise tax for current year payable by domestic business corporations. (For text of law see page 138.) Last Saturday of September. Savings banks make semi-annual returns of deposits, ete., to Bank Commissioner as of this date. (For text of law see page 89.) Last secular day of September. Loan and building associations make return of lia- bilities and assets as of this date. (For text of law see page 91.) LAWS OF MASSACHUSETTS. 185. MASSACHUSETTS. ry September 1. I/ Tax Commissioner sends out notices of amount of income tax (Laws 1916, Chap. 269, Sec. 15) as follows: The tax commissioner shall, on or before the first day of Sep- tember in each year, give notice to every person taxable under the provisions of this act of the amount of the tax payable by him, and of the date upon which the tax is due and payable, which date shall be the fifteenth day of October. The notice shall be a written or printed notice, and shall be mailed, postage prepaid, addressed to the person assessed at his place of residence or business, or at the address given in his return, or otherwise de- livered at such place of residence or business or at such address. All taxes assessed hereunder may be paid at the office of the tax commissioner in Boston or at the office of the income tax assessor for the district in which the taxpayer resides or has his principal place of business, at the option of the taxpayer, and the notice shall state the places at which the tax may be paid. Failure to receive the notice provided for by this section shall not affect the validity of the tax. September 1 to 30. During this month Tax Commissioner sends to all corporations notice of the amount of their franchise tax. . September 30. The year ending on this date is the period covering which agents of foreign insurance companies make a report on October 15 (Laws 1907, Chap. 576, Sec. 93). 186 LAWS OF NEW JERSEY. NEW JERSEY. September 1. we County Boards of Taxation must decide all appeals rom assessments on or before this date (General Tax Act, Revision of 1918, Sec. 702) as follows: The county board of taxation shall hear and determine all such appeals on or before the first day of September following, and shall keep a record of its judgments thereon in permanent form, and shall transmit a memorandum of its judgment to the taxpayer, and in all cases where the amount of tax to be paid shall be changed as a result of an appeal, to the collector of the taxing district. Three months after the first Monday of June. Attorney-General may apply for injunction against corporations which have failed to pay franchise tax, for bidding them to carry on business in New Jersey (Act April 18, 1884, Sec. 7; for text see page 141). LAWS OF NEW YORK. 187 ‘ NEW YORK. September 1. Franchise tax due and payable by trust companies, savings banks and investment companies, and may be paid without penalty for thirty days thereafter (Tax Law, Sec. 197). September 1, School taxes payable in Westchester county (Laws 1916, Chap. 105, Secs. 15, 18). September 1. Savings banks make report of unclaimed deposits as of August 1st to Superintendent of Banks (Banking Law, Sec. 274) as follows: On or before the first day of September in each year, every savings bank shall make a report in writing to the superintendent of banks, verified by the oath of the two principal officers of the institution, concerning such accounts of depositors of amounts of ten dollars or more as shall have been dormant for twenty years or more on the preceding first day of August; that is, accounts which have not been increased or diminished by deposits or with- drawals, exclusive of dividend credits; or a report verified in like manner that on the preceding first day of August such savings bank held no such accounts. The accounts of depositors whose pass-books have been presented at the bank for the entry of divi- dends within such period of twenty years, shall not be deemed dormant acounts within the meaning of this article. The report of each savings bank in the year nineteen hundred and fourteen shall accurately state the full names of all depositors which the books of the savings bank show to have had ten dollars or more to their credit respectively, whose accounts have been dormant for twenty years or over; such report shall also state 188 LAWS OF NEW YORK. the date on which the original deposit was made, the last known place of residence of the depositor, his or her occupation, date of birth, nationality, parents’ names if known, and the date when the savings bank discontinued the crediting of dividends on the account, together with any additional data which may aid in de- termining the ownership of such dormant account. AIl subse- quent reports shall state the same details with reference to such dormant accounts as have not been previously reported and shall contain a list of such previously reported accounts as have either been paid or shall have become active accounts since the last report, through partial payments, or the presentation of pass- books for the entry of dividends. The sums to the credit of such dormant accounts are not required to be stated in the report. Every savings bank which shall after September first, nineteen hundred and fourteen, report additional dormant accounts shall eause'to be published once in each week for two successive weeks in a newspaper published in the village, borough or city (if in a city not divided into boroughs) in which such savings bank is located, if there be a newspaper published there, and once in a newspaper at Albany in which notices by state officers are required by law to be published, a list containing the full names of the depositors of such dormant accounts not previously reported, and their last known places of residence, and shall file proof by affidavit of such publication in the banking department on or before October first in each year. Any such savings bank failing to make any report or to file any affidavit of publication required by this section shall forfeit to the people of the state the sum of one hundred dollars for each day such report or the filing of such affidavit of publication shall be so delayed or withheld, unless the time therefor shall. have been extended by the superintendent as provided by section forty-nine of this chapter. j September 1. / ae ' In cities, assessment roll for general property tax is filed with city clerk (Tax Law, Sec. 39) as follows: In cities the asssement-roll when thus finally completed and verified shall be filed on or before September first, in the office of the city clerk, there to remain for fifteen days for public LAWS OF NEW YORK. 189 inspection. The assessors shall forthwith cause a notice to be posted conspicuously in at least three public places in the tax district and to be published in one or more newspapers, if any, published in the city, that such assessment-roll has been finally completed and stating that it has been so filed and will be open to public inspection. At the expiration of such fifteen days, the city clerk shall deliver such roll to a supervisor of the tax district embraced therein. In towns assessors shall prepare and verify the assessment-roll, and make and certify one copy thereof. When the assessment-roll shall have been thus finally completed and verified, and the copy thereof certified the assessors shall, on or before the fifteenth day of September, file the said certified copy in the office of the town clerk, to remain for public inspection until delivered by the town clerk to the supervisor of the town as hereinafter provided. The assessors shall forthwith cause a notice to be posted conspicuouly in at least three public places in the tax district and to be published in one or more newspapers, if any, published in the town, that such assessment-roll has been finally completed and stating that such certified copy has been so filed. The original assessment-roll shall on or before the first day of October be delivered by the assessors to a supervisor of the tax district embraced therein. The certified copy of the as- sessment-roll on file in the town clerk’s office, as heretofore pro- vided, shall on the first day of November be delivered by the town elerk to a supervisor of the tax district embraced therein who shall make such corrections as may be made in the original roll by the board of supervisors and shall extend the tax thereon so that such roll shall be in all respects a copy of the original roll delivered to the collector and said certified copy shall thereafter be returned by the supervisor to the office of the town clerk there to remain as a public record. Notwithstanding the provi- sions of this section, the board of supervisors of any county may require additional copies of the assessment-rolls of the towns of such county to be made, and specify by whom such additional copies shall be made, the date when the certified copy of the town assessment-roll shall be filed in the office of the town clerk, and the date when the original assessment-roll shall be delivered to the supervisor of the town. Note: This section does not apply to New York City. 190 LAWS OF NEW YORK. September 1 to 30. During this period savings banks, banks and trust companies publish list of unclaimed deposits. (For text of law see pages 187, 191.) September 10. On or before this date banks and trust companies file report of unclaimed deposits with Superintendent of Banks as of August Ist (Banking Law, Sees. 134, 219). Sec. 134, which relates to banks, is as follows: (Sec. 219, relating to trust companies, is practically ‘identical therewith) : In the month of September in each year, and on or before the tenth day thereof, every bank shall make a written report to the superintendent of banks, verified by the oaths of the president or vice-president and cashier or assistant cashier, which report shall contain a true and accurate statement of all deposits made with the bank and all dividends declared and interest accrued upon any of its stock or other evidences of indebtedness, which on the first day of August preceding such report amounted to fifty dollars or over and had remained unclaimed by any person or persons au- thorized to receive the same for five years then next preceding. Such statement shall set forth the date of each such deposit, its amount and the name and last known place of residence or post- office address of the person making it, the name of each person in whose favor and the time when any such dividend may have been declared or any such interest may have accrued, its amount, and upon what number of shares or upon what amount of stock or other evidences of indebtedness of such bank, it was declared or accrued. In case any such bank shall at said date have held no such unclaimed deposits, dividends or interest, it shall at the time above specified make a written report to the superintendent so stating, which report shall be verified as herein above provided. No deposits, dividends or interest shall be deemed unclaimed within the meaning of this section if it appears from the books of the bank or from other written evidence on file with the bank LAWS OF NEW YORK. 191 that the person or persons authorized to receive them have knowl- edge thereof. Every such bank which reports any unclaimed deposits, divi- dends or interest under the provisions of this section shall cause to be published once in each week for two successive weeks in a newspaper designated by the superintendent published in the county and in the village or city in which such bank is located, if there be a newspaper published therein, and at least once in a newspaper published at Albany in which notices by state officers. are required to be published, a true copy of such report, and shall file with the superintendent of banks on or before the first day of October in each year proof by affidavit of such publication. The expense of such publication shall be paid by the bank, but if, on or before the first day of August in that year, the bank shall have mailed, postage prepaid, to each person authorized to receive any such unclaimed deposit, dividend or interest, at his last known place of residence or post-office address, a statement showing the amount to which such person is entitled and requesting written ac- knowledgment thereof, the bank may reimburse itself for such. expense by deducting the amount thereof from the sums due any such person or persons who shall not have made written acknowl-. edgment before the filing of such report with the superintendent, in the proportion that each such sum bears to the aggregate: thereof. , Any such bank failing to make any report or to file any affidavit of publication required by this section shall forfeit to the people of the state the sum of one hundred dollars for each day such report or the filing of such affidavit of publication shall be so delayed or withheld, unless the time therefor shall have been ex- tended by the superintendent as provided by section forty-nine of this chapter. September 15. In cities (except New York City) assessment roll for general property tax remains open until this date. (For text of law see page 188.) 192 LAWS OF NEW YORK. September 15. In towns, assessment roll for general property tax is filed with town clerk. (For text of law see page 188.) - September 16. Last day to apply for writ of certiorari (except in New York City) to review general property tax as- sessment (Tax Law, Sees. 290, 291) as follows: Sec. 290. Any person assessed upon any assessment-roll, claiming to’ be aggrieved by any assessment for property therein, may present to the supreme court a petition duly verified setting forth that the assessment is illegal, specifying the grounds of the alleged ille- gality, or if erroneous by reason of overvaluation, stating the extent of such overvaluation, or if unequal in that the assessment has been made at a higher proportionate valuation than the as- sessment of other property on the same roll by the same officers, specifying the instances in which such inequality exists, and the extent thereof, and stating that he is or will be injured thereby. Such petition must show that the application has been made in due time to the proper officers to correct such assessment. Two or more persons assessed upon the same roll who are affected in the same manner by the alleged illegality, error or inequality, may unite in the same petition. Sec. 291. Such petition must be presented to a justice of the supreme court or at a special term of the supreme court in the judicial district in which the assessment complained of was made, within fifteen days after the completion and filing of the assessment- roll and the first posting or publication of the notice thereof as required by this chapter. Upon the presentation of such petition, the justice or court may allow a writ of certiorari to the officers making the assessment, to review such assessment, and shall pre- LAWS OF NEW YORK. 193 t seribe therein the time within which a return thereto must be made and served upon the relator’s attorney, which shall not be less than ten days, and may be extended by the court or a justice thereof. Such writ shall be returnable to a special term of the supreme court of the judicial district in which the assessment complained of was made. The allowance of the writ shall not stay the pro- ceedings of the assessors or other persons to whom it is directed or to whom the assessment is delivered, to be acted upon according to law. September 30. Owners and lessees of shellfish grounds deliver statement giving details thereof to Superintendent of Marine Fisheries (Conservation Law, Sec. 307) as fol- lows: All owners, lessees or persons in possession of shellfish grounds within the state of New York, shall on or before the thirtieth day of September, annually, deliver to the superintendent at his offiec a statement under oath, specifying the number of acres of shellfish grounds owned, leased or used by them on the first day of August preceding, and the location, description and value thereof and whether held under grant, lease or otherwise, and printed blanks shall be prepared by the commission and furnished upon appli- cation at the office of the bureau of marine fisheries. But in case an owner, lessee or persons in possession as aforesaid shall have made a previous statement and shall so make and file an affidavit thereof on or before September thirtieth in each year, showing that no change has been made in his or their holding as rendered in the previous statement, then such previous state- ment shall be taken as the statement for the year in which the affidavit is filed. In case of the failure of any such person to deliver such statement to said superintendent at his office within the time above specified, or, if any statement so delivered to him shall erroneously state the number of acres subject to the tax hereinafter imposed, said superintendent shall make up a state- ment from the best information he may obtain, and shall add for such default to the tax hereinafter provided twenty per centum of the amount of such tax. The said superintendent shall annually 194 LAWS OF NEW YORK—PENNSYLVANIA. make up and keep a book in his office to be known as the assess- ment-book, in which he shall set down alphabetically the names and addresses of the owners, lessees or persons in possession of all shellfish grounds within the state, the number of acres held or possessed by them and the location thereof as shown by the state- ments aforesaid, the amount of the tax payable thereon as herein- after provided, and any penalty thereon; such assessment-book shall also contain columns for the date of payment of such tax and the amount of tax and penalty paid. PENNSYLVANIA. September 1 to 30. Manufacturing, mining, mechanical and quarrying companies file certificate of paid-up capital stock, ete. (Act April 29, 1874, Sec. 39, Cl. 8) as follows: Every such corporation shall, annually, in September, make, and the president, treasurer and a majority ef the directors, shall sign,. swear to and deposit with the recorder of deeds for said county, a certificate stating the amount of capital stock paid in, the names. and number of shares held by each stockholder, the amount in- vested in real estate and personal estate, the amount of property owned and debts due to the corporation, on the first day of August next preceding the date of such certificates, and the amount, as nearly as can be ascertained, of existing demands against the corporation at the date of the certificate. Note: As no penalty is provided for failure to file this certificate, the foregoing statute is largely in- operative. FEDERAL LAWS. 195 OCTOBER. FEDERAL. October 10. Monthly returns required from dealers in leaf to- bacco and manufacturers of playing cards. For details see entries under January. . October 20. Various monthly returns must be made by corpora- tions of different classes. For details see entries in January under ‘‘ 20th day of each month.’’ October 31. Various monthly returns must be made by corpora- tions of different classes. For details see entries in January under ‘‘ Last day of each month.’’ 196 LAWS OF MAINE. MAINE. October 1. Action may be commenced against corporations to recover unpaid franchise taxes for the current year (Rev. Stats. 1916, Chap. 9, Sec. 20) as follows: Such tax shall be a debt due from such corporation to the state, for which an action of debt may be maintained after the same shall have been in arrears for the period of one month; such tax shall also be a preferred debt in case of insolvency under the laws of this state, or in any process of liquidation in its courts. First Saturday of October. Last day for savings banks to make semi-annual re- turn to Bank Commissioner. (For text of law see page 89.) First Saturday of October. Last day for domestic trust and banking companies to make semi-annual return to Bank Commissioner. (For text of law see page 88.) Second Monday of October. Last day for loan and building associations to make semi-annual report to Board of State Assessors. (For text of law see page 91.) Last Saturday of October. Last day for foreign banks to make semi-annual re- port to Bank Commissioner. (For text of law see page 106.) LAWS OF MASSACHUSETTS. 197 MASSACHUSETTS. October 1. Casualty insurance companies render statement to Insurance Commissioner (Laws 1907, Chap. 576, Sec. 11) as follows: Every insurance company which has for ten years or more undertaken to insure persons, firms or corporations against loss or damage on account of the bodily injury or death by accident of any person for which loss or damage said persons, firms or corpo- rations are respectively responsible shall, on or before the first day of October in each year, render to the insurance commissioner, a statement in writing of its business transacted in the United States, which shall show separately for each of the five calendar years constituting the first half of the period of ten years next preceding the thirty-first day of December of the year in which the statement is made: (1) The number of persons reported injured under all its forms of liability policies, whether such injuries were reported to the home office of the company or to any of its representatives, and whether such injuries resulted in loss to the company or not; (2) The amount that, on or before the thirty-first day of August of the year in which the statement is made, had been paid on account or in consequence of all injuries so reported, including therein all payments on suits arising from such injuries; (3) The number of suits or actions under such policies on ac- count of injuries reported which have been settled either by pay- ment or compromise; (4) The amount paid in settlement of such suits or actions on or before the thirty-first day of August of the year when the statement is made, including therein all payments made on account or in consequence of injuries from which the suits arose, whether prior to or later than the date when the suits were brought. October 15. Agents of foreign insurance companies make return to Tax Commissioner of business transacted during 198 LAWS OF MASSACHUSETTS. preceding year (Laws 1907, Chap. 576, Sec. 93) as fol- lows: Every agent of a foreign insurance company shall annually, on or before the fifteenth day of October, make return to the tax commissioner of all business transacted by him as such agent during the year ending with the thirtieth day of September last preceding, in such form as the tax commissioner may prescribe; and all books, papers and accounts of his agency shall be open to the inspection of the tax commissioner at any time to enable him to verify the statements and transactions aforesaid. October 15. ocal taxes are payable and tax-bills therefor are sent out not later than this date (Laws 1909, Chap. 490, Part I, Sec. 71) as follows: Taxes shall be payable in every city and town and in every fire, water, watch or improvement district, in which ‘the same are assessed, and bills for the same shall be sent out, not later than the fifteenth day of October of each year, unless by vote, ordinance or by-law of the city, town or district, an earlier date of payment is fixed. On all taxes remaining unpaid after the expiration of fifteen days from the date when taxes are payable, interest shall be paid at the rate of six per cent per annum, com- puted from the date on which they become payable; but if, in any case, the tax bill is sent out later than the day prescribed, interest shall be computed only from the expiration of such fifteen days. In no case shall interest be added to taxes paid prior to the ex- piration of fifteen days from the date when they are payable. ) October 15. State income tax is payable (Laws 1916, Chap. 269). October 20. | Corporation franchise taxes are payable. Interest ‘thereon at the rate of six per cent per annum is charged after this date (Laws 1909, Chap. 490, Part III, Sees. 43, 57, 60) as follows: LAWS OF MASSACHUSETTS. 199 Sec. 43. Every corporation subject to the provisions of section forty shall annually pay a tax upon its corporate franchise, after making the deductions provided for in section forty-one, at a rate equal to the average of the annual rates for three years preceding that in which such assessment is laid, the annual rate to be determined by an apportionment of the whole amount of money to be raised by taxation upon property in the commonwealth during the same year, as returnec. by the assessors of the several cities and towns under the provisions of section fifty-nine of Part I, after deduct- ing therefrom the amount of tax assessed upon polls for the preceding year, as certified to the tax commissioner, upon the aggregate valuation of all cities and towns for the preceding year, as returned under sections fifty-nine and sixty of Part I; but the said tax upon the value of the corporate franchise of a domestic business corporation, after making the deductions provided for in section forty-one, shall not exceed a tax levied at the rate aforesaid upon an amount, less said deductions, excepting, how- ever, securities which, if owned by a natural person resident in this commonwealth, would not be liable to taxation, twenty per cent in excess of the value, as found by the tax commissioner, of the works, structures, real estate, machinery, poles, underground conduits, wires and pipes, and merchandise, and of securities which if owned by a natural person resident in this commonwealth would be liable to taxation; and the total amount of the tax to be apid by such corporation in any year upon its property locally taxed in this commonwealth and upon the value of its corporate franchise shall amount to not less than one-tenth of one per cent of the market value of its capital stock at the time of said assessment as found by the tax commissioner; and the total amount of the tax to be paid by a trust company in any year upon the value of its corporate franchise shall amount to not less than two-fifths of one per cent of the total amount of its capital stock, surplus and undivided profits at the time of said assessment as found by the tax commissioner. 2. In determining the value of the corporate franchise of a trust company for purposes of taxation, that part of its real estate represented by its interest as mortgagee in taxable real estate within the commonwealth shall, for purposes of deduction under 200 LAWS OF MASSACHUSETTS, clause Fourth of section forty-one of Part III of chapter four hundred and ninety of the acts of nineteen hundred and nine, as amended by section six of chapter one hundred nad ninety-eight of the acts of nineteen hundred and fourteen, be regarded as the average amount of value of such part of its real estate for the year for which the tax on the corporate franchise is levied, such average amount of value to be determined monthly in such manner as the tax commissioner shall deem just. 3. Section one of this act shall take effect upon its passage. Section two shall take effect upon the termination of the present war as defined by federal authority. Sec. 57. The tax commissioner shall annually, as soon as may be after the first Monday of August, give notice to the treasurer of every corporation, company or association or the secretary or general agent of every life insurance company which is liable to taxation under the provisions of sections twenty-six, thirty-seven, thirty-eight, forty-three, forty-four, fifty-two and fifty-three, of the amount thereof; that it will be due and payable to the treasurer and receiver general within thirty days after the date of such notice, but not before the twentieth day of October; and that within ten days after the date of such notice the corporation, company or association may apply for a correction of said tax, and be heard thereon by the board of appeal. Sec. 60. Corporations which neglect to pay taxes assessed and certi- fied to the treasurer and receiver general by the tax commis- sioner shall pay interest at the rate of six per cent per annum from the time when such taxes were payable until they are paid, if such payment is made before the commencement of proceedings for the recovery thereof, and twelve per cent if made after the commencement thereof. October 30. V Interest begins to run on unpaid local taxes. (For text of law see page 198.) LAWS OF NEW JERSEY. 201 NEW JERSEY. October 1. v Real and personal property is assessed as of this date (General Tax Act, Revision of 1918, Sec. 202) as fol- lows: All property, real and personal, within the jurisdiction of this state, not expressly exempted by this act or excluded from its operation, shall be subject to taxation annually under this act at its true value, and shall be valued by the assessors of the respec- tive taxing districts. Property omitted by the assessors may be assessed as hereinafter provided. All property shall be assessed to the owners thereof with reference to the amount owned on the first day of October in each year, and the persons so assessed for personal property shall be personally liable for the taxes thereon. October 1. oe / last day to appeal to State Board of Taxes and As- sessment from decision of County Board of Taxation as to assessments (General Tax Act, Revision of 1918, Sec. 704) as follows: Any appellant who is dissatisfied with the judgment of the county board of taxation upon his appeal, may further appeal from said judgment to the State Board of Taxes and Assessment by filing a petition of appeal to said State Board of Taxes and Assessment, in manner and form to be by said board prescribed, on or before the first day of October, following the judgment of the county board, and the State board shall proceed similarly to hear and determine all such appeals, and render its judgment thereon as soon as may be. A copy of all such appeals shall be served by the appellant upon the county board of taxation, whose judg- ment is appealed from, or its secretary, and upon the clerk or attorney of the taxing district; the service of such copies shall be evidenced by affidavit upon the original petition of appeal filed 202 LAWS OF NEW JERSEY. with the State Board of Taxes and Assessment, or service thereon acknowledged; a copy of the judgment of the State board shall be sent to the taxpayer, and where the judgment causes a change in the Amount of taxes to be paid, to the collector of the taxing disfrict. \ . Four months after first Monday of eed Last day to make application to State Board of Taxes and Assessment for review of franchise tax as- sessment; if no appeal is taken the right is deemed waived, and the assessment can thereafter only be re- viewed by certiorari proceedings (Public Laws 1916, pp. 25, 26) as follows: The officers of any corporation who shall consider the tax levied under the provisions of an act, a further supplement to which this act is an amendment, excessive or otherwise unjust, may make application to the State Board of Taxes and Assessment for a review of the assessment and a readjustment of the tax; provided, there be filed with the said board within four months from the date of assessment a petition of appeal, duly verified according to law, stating specifically the grounds upon which the appeal is taken and the reasons why the tax is considered exces- sive or unjust; the State Board of Taxes and Assessment shall thereupon proceed to investigate the contentions raised by the said petition of appeal; and for the purpose of such hearing the officers of said corporation may be summoned to appear before said board, either in person or by attorney, and questioned as to the statements set forth in the said petition of appeal; if, in the opinion of a majority of the board, it shall appear that the tax so levied as aforesaid is excessive or unjust, they shall thereupon require the officers of the corporation to file with the board a corrected return, and upon said corrected return the assessment shall be adjusted and the tax reduced or amended as in the opinion of the board shall seem proper. If the petition of appeal shall not be filed within four months from the date of assessment as aforesaid, the right to appeal to the state board shall be considered and treated as having been waived and the amount of tax levied shall be payable and col- LAWS OF NEW JERSEY. 203 lected as other taxes levied by said board; provided, however, that if after the expiration of said four months’ period from the date of assessment as aforesaid a writ of certiorari shall be sued out on behalf of any corporation within the time required by law for a review of such tax or assessment, the attorney-general, on being satisfied as to the truth of the facts set forth in the application for such writ, is hereby authorized, without the taking of any testimony or proof other than that set forth in such application, to consent to a rule reducing such tax or assessment to the amount, due on the actual issue of the capital stock of such corporation. 204 LAWS OF NEW YORK. NEW YORK. October 1. Last day for trust companies, savings banks and in- vestment companies to pay franchise tax without pen- alty. After this date five per cent is added to the tax plus one per cent monthly (Tax Law, See. 197). October 1. In towns, last day to apply for writ of certiorari to review general property assessment. (For text of law see page 192.) October 1. In New York City assessment rolls for both real and personal property taxes are opened for public inspec- tion (Charter, Sec. 892) as follows: There shall be kept in the several offices established by the de- partment of taxes and assessments books to be called ‘‘the annual record of the assessed valuations of real and personal estate of the borough of —————,’’ in which shall be entered in detail the assessed valuation of such property within the limits of the several boroughs of the city of New York as established by this act. In such books the assessed value of real estate shall be set down in two columns; in the first column shall be given, opposite each separately assessed parcel of real estate, the sum for which such parcel under ordinary circumstances, would sell if wholly unim- proved; and in the second column shall be set down the sum for which the said parcel under ordinary circumstances, would sell, with the improvements, if any, thereon. The annual record of the assessed valuation of real property shall be open for public in- spection, examination and correction from the first day in October not a Sunday or a legal holiday until the sixetenth day of Novem- ber in each year, and the annual record of the assessed valuation of personal estate shall be open for public inspection, examination LAWS OF NEW YORK. 205 and correction from the first day in October not a Sunday or a legal holiday until the first day of December in each year, but on the said respective days the same shall be closed to enable the board of taxes and assessments to prepare assessment-rolls of the several boroughs for delivery to the board of aldermen. The . said board, previous to and during the time the said books are vpen as aforesaid for inspection, shall advertise the fact in the City Record and in such other newspaper or newspapers published in the several boroughs created by this act as may be authorized by the Board of City Record. The taxable status of all persons and property assessable for taxation in the city of New York shall be fixed for each year on the day of October in the preceding year provided by law for the opening of the books of the annual record of the assessed valuation of real and personal estate of that year. October 1. Last day for banks, savings banks and trust com- panies to file proof of publication of list of unclaimed deposits with Superintendent of Banks. (For text of law see pages 187, 191.) October 1. Ten per cent penalty added to unpaid general prop- erty taxes in Westchester county (Laws 1916, Chap. 105, Sees. 15, 18). October 1 to November 15. In New York City, Board of Taxes and Assessments receive applications for revision and cancellation of real estate assessments (Charter, Sec. 898) as follows: The board of taxes and assessments from the whole number of persons appointed as deputy tax commissioners shall, for each of the boroughs wherein one of the offices of the department of taxes and assessments is established and maintained, designate one or more deputy tax commissioners, who shall, between the first day of October in each year and the sixteenth day of No- 206 LAWS OF NEW YORK. vember following as to real estate, and the first day of December following as to personal estate, receive applications for the re- vision and cancellation of any assessments entered in the books of annual record of the assessed valuation of real and personal estate in that borough, take testimony on such applications and reduce the same to writing, and when so reduced to writing trans- mit such applications and testimony, with his recommendation, to the board of taxes and assessments at its main office in the borough of Manhattan, or to any office of the department of taxes and assessments in any borough as the board of taxes and assess- ments may prescribe. Such deputy tax commissioners as may be designated for the purposes and as prescribed in this section are hereby authorized between the first day of October and the first day of December to administer oaths for the purpose of taking testimony upon all applications for the revision or cancellation of assessments, and they are hereby required and directed to transmit the evidence so taken and reduced to writing within ten days after the evidence upon any application is taken, with their recommendation, as hereinbefore described. The board of taxes and assessments shall hear at its main office all applications of corporations for revision and cancellation of assessments; and as to all other applications, the said board may prescribe the time and place of hearing thereof in the several boroughs and give such publie notice thereof in the City Record and in at least one newspaper in each borough as it may designate, and the board may make such rules and regulations as may be appropriate and expedient to the end that the taxpayers of each borough, other than corporations, may have a hearing in the borough in which they reside or in which their property assessed is situated. All testimony taken by the board of taxes and assessments by any commissioner or by deputy tax commissioners, as herein pre- scribed, shall be reduced to writing and shall constitute part of the record of the proceedings upon any assessment. The decision of the board of taxes and assessments, upon any application for the revision, reduction or cancellation of any assessments and upon the evidence taken thereunder, shall, where the evidence is taken by the board of taxes and assessments, be rendered within thirty days after the hearing upon such application is closed, and in no ease later than the first day of February. And where the evidence upon any application is taken by any commissioner or a deputy LAWS OF NEW: YORK—PENNSYLVANIA. 207 tax commissioner, the determination of the board of taxes and assessments shall be rendered within thirty days after the appli- cation and the testimony thereunder shall have been filed with the board of taxes and assessments at the main office of the depart- ment in the borough of Manhattan, and in no case later than the first day of February. October 1 to November 30. In New York City, Board of Taxes and Asessments receive applications for revision and cancellation of personal property assessments. (For text of law see preceding paragraph.) October 31. Co-operative corporations file annual report with Secretary of State (Business Corporations Law, See. 36) as follows: Every co-operative corporation shall, annually, on or before the thirty-first day of October, make a report to the secretary of state, containing the name of the corporation, its principal place of business, and generally a statement as to its business, showing the total amount of business transacted, the number of stock- holders, the amount of capital stock subseribed for and paid in, the total expenses of operation, the amount of indebtedness or liabilities, and its profits and losses. PENNSYLVANIA. October 31. Last day to make fourth quarterly payment of local taxes in second-class erties without penalty (Act July 20, 1917; P. L. 1917, p. 1173). 208 FEDERAL LAWS. NOVEMBER. FEDERAL. November 10. Monthly returns required from dealers in leaf to- bacco and manufacturers of playing cards. For details see entries under January. November 20. Various monthly returns must be made by corpora- tions of different classes. For details see entries in January under ‘‘ 20th day of each month.’’ November 30. Various monthly returns must be made by corpora- ‘tions of different classes. For details see entries in January under ‘‘ Last day of each month.’’ LAWS OF DELAWARE—MAINE. 209 DELAWARE. November 30. Last day to get discount of three per cent on local taxes paid in New Castle and Sussex counties (Code 1915, Pars. 1174, 1220). MAINE. November 1. On or before this date savings banks publish list of unclaimed deposits and send copy thereof to Bank Commissioner (Rev. Stats. 1916, Chap. 52, Sec. 46) as follows: The treasurer of every savings bank and institution for savings shall on or before the first day of November, annually, cause to be published in a newspaper in the place where the bank or in- stitution is located, if any, otherwise in a newspaper published in the nearest place thereto, a statement containing the name, the amount standing to his credit, the last known place of residence or post office address and the fact of death, if known, of every depositor in said bank who shall not have made a deposit therein or withdrawn therefrom any part of his deposit or any of the dividends thereon, for a period of more than twenty years next preceding; provided, however, that this section shall not apply to the deposits of persons known to the treasurer to be living, to a deposit the deposit book of which has during such period been brought into the bank to be verified or to have the dividends added, or to a deposit which, with the accumulations thereon, shall ° be less than ten dollars. Said treasurer shall also transmit a copy of such statement to the bank commissioner to be placed on file in his office for public inspection. Any treasurer neglecting to comply with the provisions of this section shall be liable to a penalty of fifty dollars. 210 LAWS OF MAINE. First Monday of November. Semi-annual tax on loan and building associations due on this date and payable within ten days. (For text of law see page 91.) First Monday of November. Within ten days after this date foreign banks pay to the treasurer of state a tax of three-fourths of one per cent upon the business done in the state during the six months ending on the last Saturday of September preceding (Rev. Stats. 1916, Chap. 9, Sec. 67). November 15. One-half of annual tax on savings banks due on this date and payable within ten days. (For text of law see page 90.) November 15. One-half of tax on domestic trust and banking com- panies due on this date and payable within ten days. (For text of law see page 88.) LAWS OF MASSACHUSETTS. 211 MASSACHUSETTS. November 1 to 10. Savings banks make return of deposits for preceding six months. (For text of law see page 122.) November 1 to 30. Credit unions must hold their annual meetings dur- ing this period (Laws 1915, Chap. 268, Sees. 12, 13) as follows: Sec. 12. The fiseal year of every credit union shall end at the close of business on the last business day of October. Sec. 13. The annual meeting of tne corporation shall be held at such time and place as the by-laws prescribe, but must be held within thirty days after the close of the fiscal year. Special meetings may be ealled by a majority of the directors or of the supervisory committee, and shall be called by the clerk upon written applica- tion of ten or more members entitled to vote. Notice of all meet- ings of the corporation and of all meetings of the board of di- rectors and of committees shall be given in the manner pre- scribed by the by-laws. No member shall be entitled to vote by proxy or to have more than one vote, and, after a credit union has been incorporated one year, no member thereof shall be en- titled to vote until he has been a member for more than three months. 20 days after last business day of October. Last day for savings banks to make annual report of condition to Bank Commissioner (Laws 1908, Chap. 590, Sees. 37, 38) as follows: 912 LAWS OF MASSACHUSETTS. Sec. 37. The treasurer of such corporation shall, annually within twenty days after the last business day of October, make a report to the commissioner in such form as he may prescribe, showing accurately the condition of such corporation at close of business on that day, specifying the following particulars: name of corporation and names of corporators and officers; place where located; amount of deposits; amount of each item of other liabilities; public funds, including all United States, state, county, city, town and district bonds; railroad bonds, street railway bonds, telephone honds, and stock in banks and trust companies, stating each particular kind, and the par value, estimated market value and amount invested in each; loans to counties, cities, towns or districts; loans on mort- gage of real estate; loans on personal security, stating amount of * each class separately; estimated value of real estate, and amount invested therein; cash on deposit in banks and trust companies, with the names of such banks and trust companies and the amount deposited in each; cash on hand; the whole amount of interest or profits received, and the rate and amount of each semi-annual and extra dividend for the previous year; the times for the dividends fixed by the by-laws; the rates of interest received on loans; the total amount of loans bearing each specified rate of interest; the number of outstanding loans which are of an amount not exceeding three thousand dollars each, and the aggregate amount of the same; the number of open accounts; the number and amount of deposits received; the number and amount of withdrawals; the number of accounts opened and the number of accounts closed, severally, during the previous year; and the annual expenses of the corporation, together with such other information as the com- missioner may require. The president, treasurer and auditing committee shall certify and make oath that such reports are cor- rect according to their best knowledge and belief. Sec. 38. Such report shall, in the year nineteen hundred and nine, and in each fifth year thereafter, also state the number and amount of deposits of fifty dollars and less, of those exceeding fifty dollars and not more than one hundred dollars, of those exceeding one hundred dollars and not more than two hundred dollars, of those LAWS OF MASSACHUSETTS. - 2138 exceeding two hundred dollars and not more than five hundred dollars, of those exceeding five hundred dollars and less than one thousand dollars, of those of one thousand dollars or more; and of those to the credit of women, both adults and minors, guardians, religious and charitable corporations, labor and credit unions, and in trust, respectively, received during the twelve months last preceding. 20 days after last business day of October. Last day for credit unions to make annual return to Bank Commissioner (Laws 1915, Chap. 268, Sec. 23) as follows: Within twenty days after the last business day of October in each year, every credit union shall make to the bank commissioner a report in such form as he may prescribe, signed by the president, treasurer and a majority of the supervisory committee, who shall eertify and make oath that the report is correct according to their best knowledge and belief. Any credit union which neglects to make the said report within the time herein prescribed shall for- feit to the commonwealth five dollars for each day during which such neglect continues. November 20. Franchise tax payable by insurance companies (Laws 1909, Chap. 490, Part III, Sec. 35) as follows: Such taxes shall be paid to the treasurer and receiver general on the twentieth day of November next following the date fixed for making the returns. . . . All such taxes, whether assessed before or after the twentieth day of November, shall bear interest at the rate of twelve per cent per annum from that date until they are paid. Companies liable to this tax may also be enjoined from prosecuting their business until the tax, costs and interest are paid (Same, Sec. 36). 914 LAWS OF MASSACHUSETTS. November 25. Savings banks pay semi-annual tax on deposits.. (For text of law see page 124.) 30 days after last business day of October. Last day for steamship ticket agencies which trans-. mit money to make annual return to Bank Commis- sioner (Laws 1905, Chap. 428, Sees. 1, 5) as follows: Sec. 1. All persons, partnerships, associations or corporations now or hereafter engaged in the selling of steamship or railroad tickets. for transportation to or from foreign countries, or in the supply- ing of laborers, that, in conjunction with said business, carry on the business of receiving deposits of money for safe keeping, or for the purpose of transmitting the same, or equivalents thereof, to foreign countries, or for any other purpose, Sec. 5. Any person, partnership, association or corporation transact- ing the business described in section one shall be subject to the supervision of the bank commissioner, and shall annually, within thirty days after the last business day in October, and at such other times as he may specify, make to him in such form as he may prescribe a return signed and sworn to by such officers or persons as he may designate, showing accurately the condition thereof at the close of business on said day. Exemptions (Laws 1910, chap. 338): The provisions of chapter four hundred and twenty-eight of the acts of the year nineteen hundred and five, and of all acts in amendment thereof and in addition thereto, relative to the re- ceiving of deposits of money for the purpose of transmitting the same to foreign countries shall apply to all persons, partner- ships, associations or corporations that carry on the business, or make a practice, of receiving deposits of money for the purpose LAWS OF MASSACHUSETTS. 215 of transmitting the same or equivalents thereof to foreign coun- tries or states; provided, however, that this act shall not apply to banks or trust companies, nor to express companies having contracts with railroad or steamship companies for the operation of an express service upon the lines of such companies, or to persons, partnerships, corporations or associations engaged in the banking or brokerage business. 30 days after last business day of October. Last day for co-operative banks to make annual re- turn to Bank Commissioner (Laws 1912, Chap. 623, Sec. 38) as follows: Every co-operative bank shall annually, within thirty days after the last business day of October, make to the bank commissioner, in such form as may be prescribed by him, a return, signed and sworn to by the treasurer of the corporation, showing accurately the condition thereof at close of business on that day. The presi- dent and three or more directors shall certify and make oath that the report is correct, according to their best knowledge and belief. If a report is defective or appears to be erroneous, the commissioner shall notify the bank to amend the same within fifteen days. A co-operative bank which neglects to make the re- turn required by the provisions of this section on or before the time named therein, or to amend such report within fifteen days, if notified by the commissioner so to do, shall forfeit five dollars. for each day during which such neglect continues. 30 days after last business day of October. Last day for foreign banking corporations to make annual return to Bank Commissioner (Laws 1906, Chap. 347, Sec. 1) as follows: No foreign banking association or corporation shall transact business in this commonwealth until such association or corpora- tion has received a certificate from the board of bank incorpora- tion, composed of the bank commissioner, the treasurer and re- ceiver general and the commissioner of corporations, giving it: 216 LAWS OF MASSACHUSETTS. authority to transact business in this commonwealth, which cer- tificate the said board is hereby authorized to grant, conditioned upon the performance of such requirements as to auditing as said board may prescribe. Any foreign banking association or cor- poration transacting business in this commonwealth shall become subject to the supervision of the bank commissioner, and shall annually, within thirty days after the last business day of October, and at other times during each year on any past day to be speci- fied by the commissioner, make to him in such form as may be prescribed by him a return, signed and sworn to by the treasurer, or the corresponding officer, of the corporation, showing accurately the condition thereof at the close of business on said day. The president and a majority of the directors shall certify and make oath that the report is correct according to their best knowledge and belief. LAWS OF NEW YORK. 217 NEW YORK. November 1. Second half of real estate tax payable in New York City, and may be paid without penalty until November 30. (For text of law see page 129.) November 1. In towns assessment roll for general property tax remains open for public inspection until this date. (For text of law see page 188.) November 1 to December 15. Franchise tax reports due from foreign and domes- tic corporations (Tax Law, Sees. 182, 192), except those specially exempted (see Sec. 183 below) and those which are subject to income tax (see entry under July 1, page 164). Sec. 182. For the privilege of exercising its corporate franchises in this state every domestic corporation, joint stock company or associa- tion, and for the privilege of doing business in this state, every foreign corporation, joint stock company or association, shall pay to the state treasurer annually, in advance, an annual tax to be computed upon the basis of the amount of its capital stock, em- ployed during the preceding year within this state, and upon each dollar of such amount. The measure of the amount of capital stock employed in this state shall be such a portion of the issued capital stock as-the gross assets employed in any business within this. state bear to the gross assets wherever employed in business. For purposes of taxation, the capital of a corporation invested in the stock of another corporation shall be deemed to be assets located where the physical property represented by such stock is located. If the dividends upon the capital stock amount to six, or more than six per centum upon the par value of the capital stock, during any year ending with the thirty-first day of October, 218 LAWS OF NEW YORK. the tax shall be at the rate of one-quarter of a mill for each one per centum of dividends made or declared upon the par value of the capital stock during said year. If such dividend or dividends amount to less than six per centum on the par value of the capital stock, and. (1) The assets do not exceed the liabilities, exclusive of capital stock, or (2) The average price at which such stock sold during said year ‘did not equal or exceed its par value, or (3) If no dividend was declared, Then each dollar of the amount of capital stock employed in this state, determined as hereinbefore provided, shall be taxed at the rate of three-fourths of one mill. If such dividend or divi- dends amount to less than six per centum on the par value of the capital stock, and (1) The assets exceed the liabilities, exclusive of capital stock, by an amount equal to or greater than the par value of the capital stock, or (2) The average price at which such stock sold during said year is equal to or greater than the par value, Then the amount of capital stock, determined as hereinbefore provided to be employed in this state, shall be taxed at the rate of one and one-half mills on each dollar of the valuation of the capital stock employed in this state, but such valuation shall not be less than (1) The par value of such stock, (2) The difference between the assets and liabilities, exclusive of capital stock, (3) The average price at which such stock sold during said year. If such corporation, joint-stock company or association shall have more than one kind of capital stock, and upon one of such kinds of stock a dividend or dividends amounting to six or more than six per centum upon the par value thereon, has been made or declared, and upon the other no dividend has been made or declared, or the dividend or dividends made or declared thereon amount to less than six per centum upon the par value thereof, then the tax shall be at the rate of one-quarter of a mill for each one per centum of dividends made or declared upon the capital stock upon the par value of which the dividend or dividends LAWS OF NEW YORK. 219 aade or declared amount to six or more than six per centum, and in addition thereto a tax shall be charged upon the eapital stock (1) Upon which no dividend was made or declared, or (2) Upon which the dividend or dividends made or declared -did not amount to six per centum upon the par value, At the rate as hereinbefore provided for the taxation of capital stock upon which no dividend was made or declared, or upon which the dividend or dividends made or declared did not amount ‘to six per centum on the par value. All corporations not taxable under the preceding paragraphs of this section shall be taxed in an amount not less than would be ‘produced by an assessment of one and one-half mills on each one dollar of the actual value of its capital stock, determined to be employed in this state as hereinbefore provided, or one and one- half mills upon each dollar of such capital stock at the average ‘price at which said stock sold.during the said year. Sec. 183. Banks, savings banks, institutions for savings, title guaranty, insurance or surety corporations, every trust company incor- porated, organized or formed, under, by or pursuant to a law of this state, and any company authorized to do a trust company business, solely or in connection with any other business, under a general or special law of this state, laundering corporations, manu- facturing corporations to the extent only of the capital actually employed in this state in manufacturing, and in the sale of the product of such manufacturing, mining corporations wholly en- gaged in mining ores within this state, agricultural and horti- cultural societies or associations, and corporations, joint-stock companies or associations owning or operating elevated railroads or surface railroads not operated by steam, or formed for supply- ing water or gas for electric or steam heating, lighting or power purposes, and liable to a tax under sections one hundred and eighty-five and one hundred and eighty-six of this chapter, shall be exempt from the payment of the taxes prescribed by section one hundred and eighty-two of this chapter. But such a laundering, manufacturing or mining corporation shall not be exempted from the payment of such tax, unless at least forty per centum of the capital stock of such corporation is invested in property in this 220 LAWS OF NEW YORK. state and used by it in its laundering, manufacturing or mining business in this state. Sec. 192. Corporations liable to pay a tax under this article shall report as follows: 1. Corporations paying franchise tax. Every corporation, asso- ciation or joint stock company liable to pay a tax under section one hundred and eighty-two of this chapter shall, between the first day of November and the fifteenth day of December in each year, make a written report to the tax commission of its condition at the close of its business on October thirty-first preceding, stating the amount of its authorized capital stock, the amount of stock paid in,-the date and rate per centum of each dividend declared by it during the year ending with such day, the entire amount of the capital of such corporation, and the capital employed by it in this state during such year. Upon written application the state tax commission may, in'its discretion, extend the time in which to make report, but not beyond the fifteenth day of February succeeding. November 15. Directors of trust companies file semi-annual report with Superintendent of Banks. (See entry under May 15.) | November 15. In New York City, last day to apply to Board of Taxes and Assessments for review of real estate as- sessments. (For text of law see page 205.) November 30. In New York City, last day to apply to Board of Taxes and Assessments for review of personal prop- erty assessments. (For text of law see page 205.) November 30. In New York City, last day to pay second half of real estate tax without penalty. (For text of law see page 129.) LAWS OF PENNSYLVANIA. 221 PENNSYLVANIA. November 1. Corporations which pay their employees in store orders, etc., not redeemed in cash by the issuing cor- poration within thirty days after such orders are is- sued, make to the Auditor General a report of the num- ber and amount of such store orders, etc. (Act June 24, 1901, P. L. 596; see Summary of Pennsylvania Taxa- tion at page 287 hereof). November 1. Fourth quarterly payment of local taxes for current year in second-class cities becomes delinquent; 2% penalty added thereto plus 4% monthly until paid (AcfJuly 20, 1917; P. L. 1917, p. 1173). First Monday of November. Corporations not subject to capital stock tax (except banks, savings banks and foreign insurance companies) make report of earnings to Auditor General (Act June 1, 1889, Sec. 27, P. L. 435) as follows: Every incorporated company . . . whether .. . in- corporated . . . under the laws of this or any other State or Territory, and doing business within this Commonwealth, and liable to taxation therein, which is not subject to the taxes imposed by the twenty-first or twenty-fourth sections of this act, except in- corporated banks and savings institutions having capital stock, and foreign insurance companies, shall annually, upon the first Monday of November of each year, make report to the Auditor General under oath of some officer of such company . . . setting forth the entire amount of net earnings or income received by said com- pany .. . from all sources during the preceding year; and upon 222 LAWS OF PENNSYLVANIA. such net earnings or income the said company .. . shall pay into the State treasury for the use of the Commonwealth, within sixty days thereafter, three per centum upon such annual net earnings or income, in addition to any taxes upon personal prop- erty to which it may be subject under the first section of this act; and in case any company . . . as aforesaid, shall neglect or refuse to make the report required by this section to the Auditor General, on or before the thirty-first day of December following, such company . . . shall be liable to a penalty of ten per centum for such neglect, which shall be added to the amount of tax found due on the settlement of their account: Provided, That this section shall not apply to corporations . . . organized for manufactur- ing purposse. FEDERAL LAWS—LAWS OF DELAWARE. 223: DECEMBER. FEDERAL. December 15. Fourth quarter of income tax due and payable. (For text of law see page 77.) December 20. Various monthly returns must be made by corpora- tions of different classes. For details see entries in January under ‘‘ 20th day of each month.’’ December 31. Various monthly returns must be made by corpora- tions of different classes. For details see entries in January under ‘‘ Last day of each month.”’ DELAWARE. December 1 to 31. The Farmers’ Bank of the State of Deyaware makes a written report to the Governor (Code 1915, Par. 2112). i 224 LAWS OF MAINE. MAINE. December 1. Licenses issued to foreign investment companies to do business in Maine expire unless renewed (Rev. Stats. 1916, Chap. 52, See. 123). December 1. Charters of corporations which have failed to pay franchise tax for preceding year are suspended. (For text of law see page 174.) December 1 to 10. Persons, corporations, etc., dealing with insurance companies which are not authorized to do business in Maine make return to Insurance Commissioner of such dealings (Rev. Stats. 1916, Chap. 9, Sec. 57) as fol- lows: All persons, companies, associations or corporations, residing or doing business in this state, that enter into any agreements with an insurance company, association, individual, firm, underwriter or Lloyd, not authorized to do business in this state, whereby said person, company, association or corporation shall enter into econ- tracts of insurance against loss or damage by fire or lightning covering risks or property within this state, with said unauthor- ized association, individual, firm, underwriter or Lloyd, for which a premium is charged or collected, shall, annually on the first day of December or within ten days thereafter, return to the insurance commissioner of this state a statement under oath for the twelve months preceding on policies or contracts of insurance or in- demnity taken by the said person, company, association or cor- poration. . . . The insurance commissioner shall give notice to each person, company, association or corporation filing such re- turn of the amount of his tax, computed at two and one-half per LAWS OF MAINE. 225 cent of the gross premium or deposit or payment made to secure ‘such insurance or indemnity and said tax shall be payable to the treasurer of state on or before the thirty-first day of December following; provided, however, that this section shall not be con- strued as extending to fraternal beneficiary associations or mem- bers thereof; . . . nor to marine insurance; nor shall any pro- vision of this section be construed as extending to insurance in unauthorized companies, written by special insurance brokers, under section 125 of chapter 53. Six to seven weeks before the first Monday of February. Notices are posted and published of lands which are to be sold for unpaid taxes on the first Monday of February following (Rev. Stats. 1916, Chap. 11, Sec. 72). December 31. Tax due on business done with unauthorized foreign insurance companies. (See law above.) December 31. The report required from all insurance companies on January 31 (see page 16) is made as if this date. 226 LAWS OF MASSACHUSETTS. MASSACHUSETTS. December 1 to 31. During this period Insurance Commissioner sends. blanks to all insurance companies for their annual re- ports (Laws 1907, Chap. 576, Sec. 16). December 31. Policies in force on this day determine amount of franchise tax to be paid by domestic and foreign in- surance companies. (For text of law see page 123.). LAWS OF NEW JERSEY. 227 NEW JERSEY. December 1. “ Unpaid taxes on real estate become a lien (Tax Sale Revision, Public Laws 1918, page 883, Sec. 6) as fol- lows: All unpaid taxes on lands, with interest, penalties and costs of collection, shall be a lien on the land on which they are as- sessed on and after the first day of December of the year in which they fall due. December 1. “ Last day to pay second half of taxes for current year without penalty. After this date interest is charged ' thereon at the rate of from 7% to 9% per annum (Gen- eral Tax Act, Revision of 1918, Secs. 602, 603). December 2. Banking corporations wishing the tax on their shares to be assessed against them instead of against their shareholders must file copy of resolution to that effect with County Board of Taxation and with Commis- sioner of Banking and Insurance not later than this. date (Laws 1918, Chap. 265, Sec. 8) as follows: If any bank, banking association or trust company shall, by resolution of its board of directors filed as hereinafter provided, request the county board of taxation to assess to and in the name of the bank, banking association or trust company the entire taxable value of all the shares of stock therein, instead of assess- ing the same to and in the name of the individual shareholders owning the same, and if such bank, banking association or trust company shall promise and agree that it will pay the taxes levied against such shares at the time when due and payable, then the total amount of capital, surplus and undivided profits shall be as- 2238 LAWS OF NEW JERSEY. sessed to and in the name of the bank, banking association or trust company, and no list of shareholders shall be required; all other provisions of this section shall apply, and the tax shall be a lien against the property and assets of the bank or trust company and collectible as other taxes are collected; provided, that nothing herein contained shall be construed as a taxation of property as distinguished from capital stock. A certified copy of any such resolution shall be filed with the county board of taxation of the county at least thirty days before the twentieth day of May, in the year one thousand nine hundred and eighteen, and thereafter at least thirty days before the first day of January in any year and an additional copy shall be filed at the same time with the Commissioner of Banking and Insurance; such resolution shall be binding and in force until revoked; notice of revocation to be valid must be similarly filed at least thirty days before as- sessment day in any year. December 31. ““ On or about ’’ this date managers of savings banks make an examination of their bank (Laws 1906, Chap. 195, Sec. 42) as follows: The managers of every savings bank shall, by a committee of not less than three of such managers, on or about the thirty-first day of December in each year, thoroughly examine the books, vouchers and assets of such savings bank and its affairs generally, and the statement or schedule of assets, showing the true condi- tion of such bank at the close of business of said year, reported, to the commissioner of banking and insurance as hereinafter pro- vided, shall be based on such examination, and shall be verified by the oath or affirmation of a majority of the managers making such examination; but nothing herein contained shall be so con- strued as to prohibit the managers of any savings bank from re- quiring such examination at such other times as they may pre- scribe. December 31. Report as of this date is made annually by domestic life insurance companies to local taxing officers for LAWS OF NEW JERSEY. 229 tax purposes (General Tax Act, Revision of 1918, Sec. 306) as follows: (1) Associations or corporations of ,this State whose business is that of the assurance on lives shall be assessed and taxed upon the full amount or value of their property (exclusive of real estate situated in this State, and exclusive of securities to the value of five hundred thousand dollars), deducting from such amount or value the amount of their debts and liabilities; to ascertain the said amount a statement of the amount or value of the property and of the debts and liabilities of such association or corporation as they existed on the thirty-first day of December next preceding such statement shall be annually made to the assessor or taxing officer or officers in the township, city or taxing district where the principal office of the association or corporation is located, upon the oath of the president, secretary or treasurer, or other officer of such association or corporation; in stating the liabilities on policies the basis of such statement shall be the value of such policies at the date above mentioned in this section and not the gross amount insured thereby, and such value shall be according to the computation of the same by the Commissioner of Banking and Insurance of this State by such standard of valuation as may be adopted and used by him at the time such computation shall be made aceording to law; the real estate of such corpora- tion shall be separately assessed and taxed where the same is located, and no tax shall be assessed against such association or corporation on personal property in any other taxing district; in ascertaining the tax imposed by virtue of this act no deduction shall be made for non-taxable or exempt securities, but deductions shall be made of the real estate located in this State according to the amount of the same contained in the statement of the amount of value of property above mentioned, and such real estate shall be assessed and taxed in the taxing district where the same is located; in case any such association or corporation shall claim any deduction for non-taxable property or for property exempt from taxation, then no deduction shall be made or allowed for debts and liabilities; the capital stock in any such company shall not be regarded for the purposes of this act as a liability, and shall not be deducted from the amount of property and valuable assets in making the statement hereby required, and the person 230 LAWS OF NEW JERSEY. or persons or corporations holding the capital stock of such as- sociation or corporation shall not be assessed or taxed therefor; provided, however, that this section shall not apply to any funds collected by any lodge, council, society, or fraternal beneficial as- sociation as defined in the act of March eleventh anno domini one thousand eight hundred and ninety-three, from its members for the purpose of paying sick, funeral or death benefits. . (P. L. 1918, p. 856.) (2) All acts and parts of acts inconsistent with the provisions of this section are hereby repealed; provided, however, that this section shall not in any way or manner be construed so as to re- peal or modify chapter 76 of the Laws of 1892, or chapter 7 of the Laws of 1891. LAWS OF NEW YORK. 231 NEW YORK. December 1. Interest at seven per cent from November 1 added to second half of real estate tax in New York City. (For text of law see page 129.) December 1. In Nassau county personal property tax and first half of real estate tax are due and payable, and may be paid without penalty until January 10. If the en- tire real estate tax as well as the personal property tax is paid, a discount of 144% per month until June 1 is allowed (Laws 1917, Chap. 297, Sees. 31, 33). December 15. Last day for corporations subject to franchise tax under Tax Law, Sec. 182, to file report unless extension of time has been obtained. (For text, and classes of corporations from which report is not required, see page 217.) December 15. Warrants for bank tax issued and notice of tax mailed to banks (Tax Law, Secs. 24d, 24e) as follows: Sec. 24d. The bank tax herein imposed shall be levied in the following manner: The board of supervisors of the several counties shall, on or before the fifteenth day of December in each year, ascertain from an inspection of the assessment-rolls in their respective coun- ties, the number of shares of stock of banks and banking associa- tions in each town, city, village, school and other special districts, 2382 LAWS OF NEW YORK. in their several counties, respectively, in which such shares of stock are taxable, the names of the banks issuing the same, respectively, and the assessed value of such shares, as ascertained in the man- ner provided in this article and entered upon the said assessment- rolls, and shall forthwith mail to the president or cashier of each of said banks or banking associations a statement setting forth the amount of its capital stock, surplus and undivided profits, the number of outstanding shares thereof, the value of each share of stock taxable in said county, as ascertained in the manner herein provided, and the aggregate amount of tax to be collected and paid by such bank and banking association, under the provisions of this article, provided that in the county of Erie the shares of stock of the banks located in the city of Buffalo shall not be included, nor shall any such notice be given by the board of super- visors of said county to the said officers of the banks located in said city. A certified copy of each of said statements shall be sent to the county treasurer. Provided, that, in the city of New York the statement of the bank assessment and tax herein pro- vided for shall be made by the board of tax commissioners of said city, on or before the fifteenth day of December in each year, and by them forthwith mailed to the respective banks and banking associations located in said city, and a certified copy thereof sent to the receiver of taxes of said city. And further provided that in the city of Buffalo a statement of the bank assessment and tax herein provided for shall be made by the assessors of said city on or before the fifteenth day of December in each year, and by them forthwith mailed to the respective banks and banking asso- ciations located in said city, and a certified copy thereof sent to the city treasurer of said city. Sec. 24e. The board of supervisors shall issue their warrant or order to the county treasurer on or before the fifteenth day of December in each year, setting forth the number of shares of bank stock taxable in each town, city, village, school and other tax district in said county, in which said shares of stock shall be taxable, the proportion of the tax imposed by this chapter to which each of said tax districts is entitled, under the provisions hereof, and com- manding him to collect the same, and to pay to the proper officer in each of such districts the proportion of such tax to which it is LAWS OF NEW YORK. 233 entitled under the provisions of this chapter, provided that in the county of Erie the shares of stock of banks taxable in the city of Buffalo shall be omitted from such warrant or order. The said county treasurer shall have the same powers to enforce the col- lection and payment of said tax as are possessed by the officers now charged by law with the collection of taxes, and the said county treasurer shall be entitled to a commission of one per centum for collecting and paying out said moneys, which commission shall be deducted from the gross amount of said tax before the same is distributed. In issuing their warrants to the collectors of taxes, the board of supervisors shall omit therefrom assessments of and taxes upon the shares of stock of banks and banking associations. December 31. Bank tax payable by banks (Tax Law, Sec. 24f) as follows: It shall be the duty of every bank or banking association to col- lect the tax due upon its shares of stock from the several owners of such shares, and to pay the same to the treasurer of the county wherein said bank or banking association is located, except that in the city of Buffalo such tax shall be paid to the city treasurer of said city, and in the city of New York to the receiver of taxes thereof on or before the thirty-first day of December in said year; and any bank or banking association failing to pay the said tax as herein provided shall be liable by way of penalty for the gross amount of the taxes due from all the owners of the shares of stock, and for an additional amount of one hundred dollars for every day of delay in the payment of said tax. Every bank or banking association so paying the taxes due upon the shares of its stock shall have a lien on the shares of stock, and on all prop- erty of the several share owners in its hands, or. which may at any time come into its hands, for reimbursement of the taxes so paid on account of the several shareholders, with legal interest; and‘ such lien may be enforced in any appropriate manner. The tax shall be paid by the respective banks in the city of New York to the said receiver of taxes on or before the thirty-first day of December in said year, and said tax shall be collected by the said receiver of taxes and shall be by him paid into the treasury of said city to the credit of the general fund thereof. The tax shall 934 LAWS OF NEW YORK—PENNSYLVANIA. be paid by the respective banks in the city of Buffalo to the city treasurer of said city on or before the thirty-first day of December in said year, and said tax shall be collected by the said treasurer and credited to the general fund of said city. December 31. Certificates of authority of all underwriters’ agents and all insurance brokers expire unless written appli- cation for renewal is made on or before this date to Superintendent of Insurance. (For text of law see pages 38, 41.) PENNSYLVANIA. December 31. In the city of Philadelphia, last day to pay taxes of current year without penalty (Act May 13, 1856, Sec. 8, P. Li. 569; Act July 21, 1913, Sec. 1, P. L. 863). December 31. Last day for corporations not subject to capital stock tax to file report of income without penalty. After this date 10% is added to their tax. (For text of law see page 221.) LAWS OF DELAWARE. 235 PART II CORPORATE MATTERS TO BE ATTENDED TO ANNUALLY, BUT NOT ON SPECIFIED DATES. DELAWARE. Banking Corporations. Must make semi-annual reports to Insurance Com- missioner at such times as he specifies, and publish summaries thereof (Code 1915, Par. 611) as follows: State banks, savings banks, trust companies and safe deposit corporations, and other companies engaged in like business, or in any manner receiving deposits of money, doing business in this State, shall make to the Insurance Commissioner not less than two reports during each year, according to the form which may be pre- scribed by him, verified by the oaths or affirmations of the presi- dent or vice-president, and cashier, or treasurer or secretary of such corporations, and attested by the signature of at least three directors; every such report shall exhibit under appropriate head- ings the resources and liabilities of the institution at the close of business on any day past specified by the Commissioner, and shall be transmitted to the Commissioner within twenty days after the receipt of a request or requisition therefor from him; and an ab- stract or summary of every report in such form as shall be pre- scribed by the Commissioner, shall be published by the corpora- tion once in a newspaper published in the place where such cor- poration is established or if there be no newspaper in the place, then in one published nearest such place in the same county, and such proof of publication shall be furnished as may be required by the Commissioner; such publication shall be made within two weeks after filing of such report, the expense thereof to be borne by the corporation; the Commissioner shall also have power to 236 LAWS OF DELAWARE. call for special reports from any such institution under his super- vision whenever in his judgment the same are necessary to a full and complete knowledge of its condition; every company or insti- tution which fails to make and transmit any report required under this section shall be subject to a penalty of one hundred dollars for each day after the period herein specified that it delays to make and transmit its report, to be sued for and collected by the Commissioner in the name of and for the benefit of the State. Corporations using the word ‘‘ Trust ’’ in title. Must make semi-annual reports to Insurance Com- missioner at such times as he specifies (Code 1915, Par. 1997) as follows: Every corporation now existing or hereafter created under the laws of Delaware, using the word ‘‘Trust’’ as part of its name, shall be under the supervision of the Insurance Commissioner of the State and shall make not less than two reports during each year to the said Insurance Commissioner, according to the form which shall be prescribed by him, verified by the oaths or affirma- tions of the president or vice-president, and the treasurer or secre- tary of such corporation, and attested by the signatures of at least three directors. LAWS OF MAINE. 237 MAINE. Foreign Corporations. Within thirty days after the date fixed for the an- nual stockholders’ meeting foreign corporations other than banking corporations of all kinds, surety, safe deposit, insurance and public service corporations, file certificate of condition with Secretary of State (Rev. Stats. 1916, Chap. 51, Sees. 111 to 113) as follows: Sec. 111. Every such foreign corporation shall annually, on or before the first day of March, pay to the treasurer of state for the use of the state a license fee of ten dollars. It shall also annually within thirty days after the date fixed for its annual meeting, or within thirty days after the final adjournment of said meeting, but not more than three months after the date fixed for said meeting, prepare. and file in the office of the secretary of state, a certificate signed and sworn to by its president, treasurer or clerk, showing the change or changes, if any, in the particulars included in the certificate required by section one hundred and eight made since the filing of said certificate or of the last annual report. If no changes have occurred, a certificate to that effect shall be sufficient. Sec. 112. Any foreign corporation which omits to file the certificate re-. quired by section one hundred and eleven shall forfeit to the state not less than five, nor more than ten dollars, for each day for fifteen days after the expiration of the period therein named, and not less than ten, nor more than two hundred dollars, for each day thereafter, during which such omission continues. Sec. 113. , The secretary of state upon the failure of any such corporation to file the certificate required bv section one hundred and eleven 238 LAWS OF MAINE. shall forthwith notify such corporation, and the notice shall con- tain a copy of this and the two preceding sections, but failure on the part of the secretary of state to so notify shall not relieve any corporation of any of the duties or liabilities imposed thereon. Note: That part of section 108 under which the cer- tificate above referred to is required, which relates thereto, is as follows: Every such foreign corporation before transacting business in this state, shall file with the secretary of state a copy of its charter, articles or certificate of incorporation, certified under the seal of the state or country in which such corporation is incorporated by the secretary of state thereof or by the officer having charge of the original record therein, a true copy of its by-laws and a certificate in such form as the secretary of state may require,. setting forth: (a) The name of the corporation; (b) The location of its principal office; (c) The names and addresses of its president, treasurer, clerk or seeretary and of the members of its board of directors; (d) The date of its annual meeting for the election of officers; (e) The amount of its capital stock, authorized and issued, the number and par value of its shares and the amount paid in thereon to its treasurer. Said certificates shall be subscribed and sworn to by its president, treasurer or clerk. Savings Banks. The following matters must be attended to annually by savings banks: Within thirty days after the annual election in the several sav- ings banks, the clerks thereof shall cause to be published in some local newspaper, if any, otherwise in the nearest newspaper, a list of the officers and corporators thereof. They shall also return a copy of such list of officers and corporators to the Bank Com- missioner within said thirty days, which shall be kept on file in his office for public inspection. Any clerk who neglects to give such notice or make such return shall be liable to a penalty of fifty dollars. (Rev. Stats. 1916, Chap. 52, See. 20.) LAWS OF MAINE, "939 The treasurer of every savings bank . . . shall also, at least once in each year, cause to be entered on a suitable book, the net sum of each individual deposit at a fixed date, and as- certain the aggregate of all such deposits, and whether it agrees with the other books of said bank; and said books shall be open at all times for the inspection of the trustees, corporators and Bank Commissioner. (Rev. Stats. 1916, Chap. 52, Sec. 44.) The treasurer of every savings bank and institution for savings shall annually make return of the condition and standing thereof at such time as the Bank Commissioner designates, which return shall be made to said commissioner within fifteen days after the day designated in the blank form of such return furnished to every ‘such bank or institution by the commissioner. (Rev. Stats. 1916, ‘Chap. 52, See. 45.) In addition to the foregoing return, every savings bank must cause an annual examination of its condition to be made by two of its trustees and a report thereof made by them to the Bank Commissioner on such date as he may specify. (Rev. Stats. 1916, Chap. 52, Sec. 47.) The same obligation is imposed on trust companies. (Rev. Stats. 1916, Chap. 52, Sec. 87.) Building and Loan Associations. The profits and losses may be distributed annually, semi-annually or quarterly, to the shares then existing, but shall be distributed at least once in each year, and whenever a new series of shares is to be issued. (Rev. Stats. 1916, Chap. 52, See. 115.) Domestic Mutual Fire Insurance Companies. Every domestic mutual fire insurance company shall publish annually three weeks successively in some daily or weekly paper printed in the count:y where it is located, a condensed state- ment of its condition, conformable to its last annual report to the commissioner; and any such company which neglects or refuses to publish such statement, forfeits not less than fifty dollars. (Rev. Stats. 1916, Chap. 53, See. 37.) ¢ 240 LAWS OF MASSACHUSETTS. MASSACHUSETTS. Foreign Corporations. Foreign corporations file certificate of condition an- nually within thirty days after date fixed for annual stockholders’ meeting and pay excise tax (Laws 1909, Chap. 490, Part III, Sees. 54, 55, 56) as follows: Sec. 54. Every foreign corporation shall annually, within thirty days after the date fixed for its annual meeting, or within thirty days after the final adjournment of said meeting, but not more than three months after the date so fixed for said meeting, prepare and file in the office of the secretary of the commonwealth, upon payment of the fee provided in section ninety-one of chapter four hundred and thirty-seven of the acts of the year nineteen hundred and three, a certificate signed and sworn to by its president, treas- urer, and by a majority of its board of directors, showing the amount of its authorized capital stock, and its assets and lia- bilities as of a date not more than ninety days prior to said annual meeting, in such form as is required of domestic business corpo- rations under the provisions of section forty-five of said chapter, and the change or changes, if any, in the other particulars included in the certificate required by section sixty of said chapter, made since the filing of said certificate or of the last annual report. .. . Sec. 55. A certificate which is required to be filed by the preceding sec- tion shall be accompanied by a written statement under oath by an auditor, as provided in section forty-seven of chapter four hun- dred and thirty-seven of the acts of the year nineteen hundred and three, except that such auditor shall in all cases be chosen by the board of directors. Before it is filed it shall be submitted to the commissioner of corporations, who shall examine said certificate and shall as tax commissioner assess upon the corporation an excise tax in accordance with the provisions of the following sec- tion. If he finds that the certificate is in compliance with the { LAWS OF MASSACHUSETTS. 241 requirements of the preceding section, he shall indorse his ap- proval thereon; but no certificate shall be filed until he has in- dorsed his approval thereon, and until the excise tax required by the following section has been paid to the treasurer and -receiver general. Sec. 56. Every foreign corporation shall, in each year, at the time of filing its annual certificate of condition, pay to the treasurer and receiver general, for the use of the commonwealth, an excise tax - to be assessed by the tax commissioner of one-fiftieth of one per cent of the par value of its authorized capital stock as stated in its annual certificate of condition; but the amount of such ex- cise tax shall not in any one year exceed the sum of two thousand dollars, provided, that for the purpose of assessing the excise upon corporations whose stock was issued without a par value one hundred dollars shall be considered par. Domestic Corporations. A similar certificate or report must be filed by do- mestic corporations under chapter 437 of the Laws of 1903 as follows: Sec. 45. Every corporation shall annually, within thirty days after the date fixed in its by-laws for its annual meeting last preceding the date of such report, or within thirty days after the final adjourn- ment of said meeting, but not more than three months after the date so fixed for said meeting, prepare a report of condition which shall. be signed and sworn to by its president, treasurer and at least a majority of its directors stating: 1. The name of the corporation. 2. The location (with street address) of its aeigial office in this commonwealth, and elsewhere in the case of a corporation organized to do busines wholly outside the commonwealth. 3. The date of its last preceding annual meeting. 4. The total amount of its authorized capital stock; the amount issued and outstanding and the amount then paid thereon; the 242 LAWS OF MASSACHUSETTS. class or classes, if any, into which it is divided; the par value and number of its shares. 5. The names and addresses of all the directors and officers of the corporation, and the date at which the term of office of each expires. 6. A statement of the assets and liabilities of the corporation as of the date of the end of its last fiscal year, to be made sub- stantially in the following form: Assets. Real estate, Machinery, Merchandise: Manufactures, merchandise, material and stock in process. Cash and debts receivable, Patent rights, Trade marks, Good will, Profit and loss, Total, . Liabilities. Capital stock, Accounts payable, Funded indebtedness, Floating indebtedness, . Surplus, i : : Profit and loss, Total, Sec. 46. Such report shall be submitted to the commissioner of corpo- rations, who shall examine. it and if he finds that it conforms to the requirements of this act, he shall indorse his approval thereon; and upon the payment of the fee hereinafter provided, it may be filed in the office of the secretary of the commonwealth, who shall receive and preserve it in book form convenient for reference and open to public inspection. LAWS OF MASSACHUSETTS. 243 Sec 47. Such report of a corporation which has a capital stock of one hundred thousand dollars or more shall be accompanied by a written statement under oath by an auditor to be employed for each ensuing fiscal year by a committee of three stockholders who are not directors which shall be selected at each annual meeting of the stockholders, or, if there are not three stockholders other than directors able and willing to serve on such committee, then to be employed by the directors, stating that such report repre- sents the true condition of the affairs of said corporation as dis- closed by its books at the time of making such audit; but no bookkeeper, treasurer or other officer of the corporation who shall sign and execute the statement shall be appointed as auditor within the meaning of this act. The statement of the auditor shall be filed by him with said report in the office of the secre- tary of the commonwealth and shall be attached to and form part of it. The auditor shall be sworn to the faithful perform- ance of his duties by a justice of the peace or some other magis- trate authorized to administer oaths or affirmations; and the officers of the corporation who sign the said report of condition shall certify thereon that the auditor was duly elected and quali- fied, as herein provided. The following penalties are imposed on both foreign and domestic corporations for failure to file the annual certificate or report of condition (Laws 1903, Chap. 437, Sec. 49): If a corporation fails to file its report of condition within thirty days after the date of its annual meeting or of a final adjouru- ment thereof, the commissioner of corporations shall give notice by mail, postage prepaid, to such corporation of its default. If it omits to file such report within thirty days after such notice of default has been given, it shall forfeit to the commonwealth not less than five nor more than ten dollars for each day for fifteen days after the expiration of the said thirty days, and not less than ten nor more than two hundred dollars for each day thereafter during which such default continues, or any other sum, not greater than the maximum penalty or forfeiture, which the eourt may deem just and equitable. If a corporation fails for 244 LAWS OF MASSACHUSETTS. two successive years to file its annual report of condition, the supreme judicial court, upon application by the commissioner of corporations, after notice and hearing, may deeree a dissolution of the corporation. Trust Companies. Trust companies make reports to the Bank Commis- sioner when requested by him, but not more than five times per vear (Laws 1908, Chap. 520, See. 13). Fire Insurance Companies. Fire insurance companies make a return annually to the Insurance Commissioner, when called for by him, of all reinsurance contracted for or effected by them (Laws 1907, Chap. 576, Sec. 20). Savings Banks. Clerks publish list of officers, ete., after each annual. election (Laws 1908, Chap. 590, See. 29) as follows: The officers of such corporation, except the board of invest- ment,. treasurer, vice-treasurer and assistant treasurer, shall be elected at its annual meeting, anything in its charter to the con- trary notwithstanding. The board of investment, treasurer, vice treasurer and assistant treasurer shall be elected by the trustees and shall hold office during their pleasure. If any office becomes vacant during the year, the trustees may elect a person to fill it until the next annual meeting; and if a person elected does not, within thirty days thereafter, take the oath, his office shall there- upon become vacant. The elerk of the corporation shall, within ten days after the meeting, notify all persons elected to office; and within thirty days thereafter shall publish in a newspaper published in the county in which the corporation is established a list of all persons who have taken the oath of office to which they were elected and a list of the members of the corporation. Said lists shall be included in the annual report of the corporation to the commissioner, and shall be kept on file in his office for in- LAWS OF MASSACHUSETTS. 245 spection by the public. SS.° . On this.......... day Ofsiscsossy is eae ewe ise weary Ds 191.595 personally appeared before me, a Notary Public in and for the COUNTY OL v5. oleate Bites Bea Se CE OL SS eed HOSEA AeH ee Dee i of the above named Comma, who, being duly sworn according to law, did depose and say that the foregoing report is just, true and correct and that it includes all dividends of any description declared by said Company during the year ending October 31, 1917, and that he has, accordmg to his best knowledge and belief, appraised the capital stock of the Company as provided by statute, at not less than the average price at which it sold and not less than the difference between its assets and liabilities, exclusive of capital stock. Notary Public. PENALTY NOTICE. Every corporation, association, joint-stock company, person or partnership failing to make the annual report required by this article, or failing to make any special report required by the com- mission, within any reasonable time to be specified by the com- mission shall forfeit to the people of the state the sum of one hundred dollars for every such failure, and the additional sum of ten dollars for each day that such failure continues. (Tax Law, section 197.) (Endorsed) : Form 42. CAPITAL STOCK REPORT for Year Ending October 31, 1918, of FORMS OF CORPORATE REPORTS—NEW YORK. 405 Report due on or before December 15th. Duplicate copy should be kept for your files. All annexed statements must be sworn to thereon. NOTES. This report is not required from corporations which are subject to the New York State income tax (see page for list of such corporations), nor from cor- porations exempt under Sec. 183 of the Tax Law (see page for text.of this section). The ‘‘average valuations ’’ called for by Questions 23 to 37 may be made on either a monthly, quarterly or annual basis. The estimate and appraisal of capital stock must be at a figure not less than the average price at which the stock sold during the preceding calendar year or not less than the difference between the corporate as- sets and liabilities, according to which method gives the higher valuation. If the latter method is used, the total assets and total liabilities must be taken into ac- count, and not merely those in New York State. INCOME TAX REPORT. (Foreign and Domestic Corporations.) STATE OF NEW YORK. Taxation of Corporate Franchises under Article 9-a of the Tax Law for the Tax Year Beginning November 1, 1918. THIS REPORT IS DUE JULY 1, 1918, or within thirty days after filing report with the United States Treasury Department. File with 406 FORMS OF CORPORATE REPORTS—NEW YORK. STATE TAX DEPARTMENT. Albany, N. Y. AS ier sais ow cates Sees Of the canines see ieeed sas Company, I make the following report of such company for the year ending* ieee Ses aiaiei a whd Oar ey sai oe a he ane , 191...., pursuant to Article 9-A of the Tax Law. CL) “Org anieedla x. sie cata divusaincctearecs dens he es , 19...., under the - Laws of.......... (2) Began business in New York...............00000: 19). sc (3) Issued capital stock, $.......... ccc cece cece cece eee eae (If organized with shares without par value, insert the amount of paid-in capital.) (4) Amount of indebtedness at end of year, $ ' Fi ‘(5) Net income for the ate year ending}....... eae Me eenreraes , 191...., as determined by the United States treasury department, $.......... 0. cece cece wees Corporations organized under the laws of foreign countries. should return their entire net income, $................ (6) If the amount reported above is not correct, state the amount claimed to be correct, $......... cece cece eee eee (7) Nature of business and how transacted................00. (8) Place, street and number where such business is conducted (9) Where will mail reach the company?.................... Pe ee \ (10) State the city or town, street number and state where this: company maintained any store, warehouse, factory or ¢ FORMS OF CORPORATE REPORTS—NEW YORK. 407 other place of business outside the State of New York (11) Any corporation taxable hereunder may omit from this report the segregation of assets on this page only by signing the following consent: I am authorized by the Board of Directors of this corpora- tion to consent and I do hereby consent that said corpo- ration be taxed upon its entire net income. Do not sign consent unless taxable by the State of New York on entire income. CC (Official title) TOTAL SEGREGATED ASSETS WHEREVER LOCATED Average monthly value of bills and accounts receivable for— (a) Personal property manufactured by it...... Duda wud eas meas (b) Personal property sold by the corporation from merchandise owned by it at the time of acceptance of order but not manufac- fared by at ce oe een aenate derrbaee Petit iainceei (c) Services performed, based on orders received at offices maintained by the corporation, excluding bills and accounts receivable on orders filled from a stock of merchandise or other property maintained by the cor- poration. . = nice seesebeeses de ches ae He ee ee {Average monthly value of all real property wher- ever located (actual value)...................00- $ Lievens tats fAverage monthly value of all its tangible personal property wherever located (actual value)......... Pisvies late Gane Total. isicscse stesso ree ssw reed ay dey ret ee een ee ee ee §Average total actual value of shares of stock of other corporations owned by this corporation..... Seeceueeegiats ASSETS SEGREGATED TO NEW YORK STATE ONLY Average monthly value of bills and accounts receivable for— (a) Personal property manufactured by it within this’ state! wesicvanedes tev eernineiees oee% Pikes a aie ts 408 FORMS OF CORPORATE REPORTS—NEW YORK. (b) Personal property sold by it from merchan- dise owned by it and located in this state at the time of acceptance of the order, but not manufactured by it within this SCALE. 2. wauaicukewsseegeaedemendes ate ePawalaonad aie (c) Services performed, based on orders received at offices maintained by the corporation within this state, excluding bills and ac- counts receivable arising from sales made from a stock of merchandise or other property at a place of business main- tained by the corporation within this State! vc sues se se saewde see eee eh ene dese Bisse tAverage monthly value of its real property within this state as detailed in this report (actual value) .$ tAverage monthly value of its tangible personal prop- erty in New York State as detailed in this report (actual Value): sceciecsa as owbe dus. pee cisions eae sees $ Total (Liason ewer “neat la alae ibs lata telat di, evi $.. §Average total actual value of shares of stock of other corporations owned by it and allocated to this state: by: rule: below . sss awe esi ese ge deus ad cane ate $ *Insert the calendar year ending December 31, 1917, or the fiscal year as reported to the United States treasury department. +The amount of the annual net income must be identical with that reported to the United States treasury department. + Real property and tangible personal property shall be taken at its actual value where located. § The value of share of stock of another corporation owned by a corporation liable hereunder shall for purposes of allocation of assets be apportioned in and out of the State in accordance with the value of the physical property in and out of the State representing such share stock. Notr— If the amount of the annual net income of any corporation taxable under this article as returned to the United States treasury department is changed or corrected by a commissioner of internal rev- enue or other officer of the United States, such @rporation, within ten days after receipt of such notification of change or correction, shall make return under oath or affirmation to the Tax Commission of such changed or corrected net income upon which the tax is required to be paid to the United States. FORMS OF CORPORATE REPORTS—NEW YORK. 409 INSTRUCTION.. If the company has no real or tangible personal property in this State it should give the name of the city, town, or incorpo- rated village where its principal financial concerns are transacted within the State in panel 1 and the word ‘‘ none ’’ should be entered in panel 2. If the company’s entire real and tangible personal property in this State is in one city, or in one town outside a city or incorpo- rated village, the schedules below need not be made, but the name of the city or town, and of the county where located must be entered in panel 3. Name of city, town or incorporated village 1 2 If the company has real or tangible personal property in an incorporated village (or villages) in this State the name of such village and the town and county where such village is located must be entered below, together with the value of such property. Incorporated villageof Inthetownof Countyof Personal Real svisol shins apelin Da conceal eau toes laee eevee a hens Ah ches oat Seasons Daw sacs ee er ee ee re eee ee Baweans: Baw sen's ae bss aS SERS Cie ire gs mae Readeeiais Bice sine: Beige eee (If more space is needed add a paster) The values of real and tangible personal property in villages must be distributed to the proper TOWNS in the table below. Do not confuse the political subdivisions ‘‘ incorporated village ’’ and ‘‘ town.’’ Names of hamlets or postoffices other than in- corporated villages are not wanted. 1 410 FORMS OF CORPORATE REPORTS—NEW YORK. Schedule of Real and Tangible Personal Property in New Personal, Realestate, Real estate, York State by Cities and Towns actual value actual value assessed value City of...... County of...... Street address.......... Sunvatecek Gwar) Ske weeareee City of...... County of...... Street address.......... P deiasion ate Peaisanoees a Biss see's aiee . City of...... County of...... Street address.......... Pisa ee ees Bis orardasieels Bios areereinistars City of...... County of...... Street address.......... Pie caee nes Bssiecadeves Bicseacveee Town of..... County Of .ses seeeex cee Town of..... County OLee sie wesc s cen Town of.....County of...... ......... Town of.....County of...... ......... (If more space is needed add a paster) Affidavit of President, Vice-President, Secretary or Treasurer. State of New York, County Of. sa sineiiceawied win oe » SS: On this........ ay Of ss dis ccd aeie esas a aares , A. D. 191...., per- sonally appeared before me, a Notary Public in and for the County Ol gw agreture sa oe deine asin ne snore , of the above named company, who, being duly sworn according to law, did depose and say that the foregoing report is just, true and correct and that it includes a true statement of the annual net income of said company for the year. (Official title) Sworn to before me the day and year aforesaid. ey Notary Public. (Endorsed) : FORMS OF CORPORATE REPORTS—NEW YORK. 411 FORM 3 IT. Penalty Notice. Any corporation which fails to make any report required by this article shall be liable to a penalty of not more than five thousand dollars to be paid to the State to be collected in a civil action, at the instance of the Commission; and any officer of any such cor- poration who makes a fraudulent return or statement with intent to defeat or evade the payment of the taxes prescribed by this article shall be liable to a penalty of not more than one thousand dollars, to be recovered by the State. (Tax Law, § 216.) STATE TAX COMMISSION, Receiving stamp. Ce NOTES. This report is required from all domestic and foreign business corporations except (1) banking, trust and in- surance corporations of all kinds, (2) public service corporations, (3) holding companies and (4) corpora- tions wholly engaged in the purchase, sale and holding of real estate for themselves. The only income taxable is that derived from busi- ness done in the State of New York. Therefore the ““ Consent ’’ referred to in Par. ‘‘(11)”’ should only be signed if the entire income of the corporation was derived from such business. ‘¢ Tangible personal property.’’ This phrase means corporeal personal property such as machinery, tools, implements, office furniture and equipment, goods, wares and merchandise. It does not include money, deposits in bank, shares of stock, bonds, notes, mort- .? 412 FORMS OF CORPORATE REPORTS—NEW YORK. gages, credits or evidences of an interest in property and evidences of debt. ‘Average . . . value of shares of stock allocated to this state by rule below.’’ The method of applying this rule can best be shown by an example, as follows: The A. B. Co. owns 100 shares of the capital stock of the C. D. Co., which are worth $100 per share or $10,000 in all. The total value of the physical property of the C. D. Co. is $100,000, of which $25,000 or 14 is permanently located in New York State and the re- maining $75,000 or 34 is located elsewhere. The value of the A. B. Co.’s 100 shares of C. D. Co. stock allo- cated to New York State will be the same fraction of their total value as the value of the C. D. Co.’s physical property located in New York is of the value of its total physical property. In this case this will be 4 of $10,000 or $2,500, which is the amount to be entered opposite ‘‘ Average value of shares,’’ etc., ‘‘ allocated to this state,’’ ete. ANNUAL STATEMENT TO BE FILED UNDER SECTIONS 259 AND 264 OF THE TAX LAW IN THE OFFICES OF THE STATE TAX COMMISSION AND THE RECORDING OFFI- CER WHERE MORTGAGE HAS BEEN FIRST RECORDED. (A separate statement for each mortgage must be filed) State of New York, COUR Y OL se asa ese seas b:seecerno ese 0 7 SS. 5 shea deltagel bi cectrs Jee eerste Maes ieee ae being duly sworn, deposes and says that he is the................ Of the sxvaw ceaesvasd eave nes That on the.......... d8Y Ol sa usicecessesaaeyene sa oe g LD ene there was recorded in the office of the recording officer of the FORMS OF CORPORATE REPORTS—NEW YORK. 413 County OF cic css ees emcde eae (being its first place of record) in liber.......... of mortgages at page.......... , @ certain mort- gage, the maximum amount to be secured thereby being $........ bearing date the........ day of......... Hitches hau Sasso iss was the mortgagor and.......... cc cece eee e ence eee ceeneeneee the mortgagee. That the total amount of principal indebtedness that has been advanced or has accrued on such mortgage, or has become secured thereby, to and including June 30, 191...., is the SUI SOL sone ca maiecte Soke eoees a ce CMe Cee Ra eae eR ee dollars (St ownsiecea wes ). That the total amount advanced prior to July 1; 1906, is: the: Sumi Of s s.0:< cuts sans cree aie sess Hoe His eee ea ae dollars ($.0.....eccee eens ). That schedule ‘‘A’’ hereto annexed is a full and true statement of all the advances made under said mortgage with the date of each such advance for the year covered by this statement. eee wwe tee r eee reer e cease eres SCHEDULE ‘‘A’”’ Date of Advancement Amount Advanced er a Pe eee eee w ewes eee e eran revere eee ee we me eee eee eee ee ee Oe Oe ee ee ee eee een ne esane ee 414 FORMS OF CORPORATE REPORTS—PENNA. PENNSYLVANIA. CAPITAL STOCK REPORT. (Foreign and Domestic Corporations.) 1918 CAPITAL STOCK REPORT OF THE Give full address. DStréet and Number ss. ioc ssice ce vase ea crouse Mine Sie eee eA Ge Oe OS City or Town.............005 State: Gaweatenceudee cae Affidavit and Certificate of Valuation. Appraisement is to be made as of December 31 of each year, as required by Act of June 2, 1915, by any two of the following named officers, namely: President, Vice-President, Secretary or Treasurer. State of Pennsylvania, County: Obs isikisdesse-chonese cass » 8S: On this.......... day Ofvuitev sence sa kus see , A. D. 191...., before me the subscriber, a Notary Public in and for said County, appeared aacist«a ersten eee ade se ete bea eae ones President, AUG: vedaset eases yaaa cg ea ewes Par? W113) sais save Ses en core dac ang saw eae ds PacE 135 103 135. GENERAL INDEX. 465. PaGE Pars 11 (4,191 5 swod siete tetris bua 10: Par: 1220 a/c hiiecw Sas nanatiend Somes acoaamantge 10: PAR: L226: cs-disas, sevsrausie a@voteeh a tuck Oia ant areae nue waRe 136 Pars 2112 sacwanegupae eben teewee ewes eee | aR General Corporation Law, Art. 1, Sec. 7........ 292: Maine (references are to the Revised Statutes of 1916) : Chap. 9, Sec. 19....... cc cece cece eee ene enees 161 Chap: 9, See: Wusssarersavitixssevaeraeiasees 196. Chap. 9, See. 21............c eee ees Beare tid 184. Chap. 9, See. 22........ cece eee cece cece een eee 87 Chap. 9; Se@. 23 v.25 cecdaiiad dase sea e ged sees 174 Chap: 9; Sees.-4%, 48 sic cisa sedis avis ones aidialae Raves 17 Chap. 9) Sec: 62: ses ct eiaer kde create des 18. Chap: 9: Seé. 56. ccwsoes dice et aunaetaesdee 104 ‘Chap: 9, See. BF... woos ude dae weet Siew eas salad 224 Chap. 9, Sec. 59... . cece eee c cence cee eeeeeees 89: Chap. 9, Sec. 60...... Ehoaieees eis ke has neaies 90 Chap. 9; See. 63: o40eieccugwiseieas sae abesgues 104 Chap. 9, Secs. 64, 65......... 0c. cece e ence e eee 90: Chapy:9; See: O85 5 sae secede sea congsle ati sack eee 106 Chap: 9; Ses: Teiasasccticsecuteeeiswssa cians 88 Chap: 9; Sees (Osc suds iee geese eed eee se wake 89° Chap. 10, Sees. 9, 13, 14....... 0. cece eee eee eee 104 Chap 1 See. Win cain tan sais ae os oaue secrete a aneag 60, 225. Chap. 51, See: 11 isc.oscsssers cee te seaviacaes’ 292 Chap: 51, See. 26; i ccaresoaeeaereersseae ee dis 105 Chap. 51, Sees. 28, 29.0... 0... cece cence eee 108. Chap. 51,. Sé@. 80 occ sisi ccd nna din ete aie anes wi 161 Chap. 51, See. 108 seccac coe casiw seca eee ewes 238 Chap. 51; Sec: V1: ceiausiaeees esas teedas cans 87, 237 Chap. 51, Sees. 112, 118.......... 6. cece eee eee 237 Chap. -52,; Se@. 29 wuss sec ea.geleisie ne eames nies ay 238 Chap. 52, Sees. 44, 45...... 0... cece eee eee eee 239° Chap. 52, Sec. 46.05.55 065 sect ee ene cece eee eee 209° Chap. 52, Secs. 47, 87, 115......... 0 cece ee eee ee 239° Chap. 52, Se¢: 123.05 cc cvsse ee see eee ys 224 Chap. 53, See. 37... 0. cece creer eect eee ennees 239: Chap. 53, Sec. 91.2.0... cece eee eee cette eee 16 Chap. 53, Sees. 95, 99........ 0 eee eee e eens 17 466 GENERAL INDEX. Chap. 53, Sees. 102, 105, 121................2.. Chap: 53) See; 125 a sca/nue iw aso BheE ve vR sae Chap:53; S66: 1OQicee veg. sakiesewe tea weed eed Chap.63, SeG Lids. s viene a cakie ikea ede dae ates Chap. 54, Sees. 1 Massachusetts : Laws 1903, Chap. Laws 1903, Chap. Laws 1903, Chap. Laws 1903, Chap. Laws 1905, Chap. Laws 1906, Chap. Laws 1907, Chap. Laws 1907, Chap. Laws 1907, Chap. Laws 1907, Chap. Laws 1907, Chap. Laws 1907, Chap. Laws 1907, Chap. Laws 1907, Chap. Laws 1908, Chap. Laws 1908, Chap. Laws 1908, Chap. Laws 1908, Chap. Laws 1908, Chap. Laws 1909, Chap. Laws 1909, Chap. Laws 1909, Chap. Laws 1909, Chap. Laws 1909, Chap. Laws 1909, Chap. Laws 1909, Chap. Laws 1909, Chap. Laws 1909, Chap. Laws 1909, Chap. Laws 1909, Chap. Laws 1909, Chap. Laws 1909, Chap. Laws 1909, Chap. Laws 1909, Chap Pe eat a cee amis ABT) OC AG ics aise a. ie sae a Gag tad 437, Sees. 47, 49...........0.. 428, Secs. 1) Dies aac esas os B41; DOCS Linas caeeaadneteaen BUD ISOC 2h cea senda stares ets arate 319, Sees: 3,40 cox sekaw se wnras DIG eCy Lai. dows Sve woot Res 576, See. 20............ eae ala 516, SeGs 83 soo. ccbs cu nsw eb ies 576; See. 88.0. cas. eee saeaaiecs 516, S06. 93), oevaicene cewe eens 576, Sec. 108.............006. 590; See: 13) occ tended ens cae es 590, SeCwi29). wise whiehie yy me aienw'els 590) S60 32. cctetGedd scenes 590, Sees. 37, 38.............. 590, See: 40.0: ces scavves vee 490, Part I, Sec. 15.......... 490, Part I, See. 71.......... 490, Part II, Sec. 36.......... 490, Part ITI, Sec. 10........ 490, Part III, Sec. 14........ 490, Part ITI, Sec. 21........ 490, Part III, See. 22........ 490, Part III, Sec. 26........ 490, Part ITI, Sec. 34........ 490, Part III, Sees. 35, 36.... 490, Part ITI, See. 37........ 490, Part ITI, Sec. 40........ 490, Part III, See. 43........ 490, Part IIT, Sees. 54, 55.... . 490, Part ITI, Sec. 56........ 242 243 214 215 246 247 197 244 139 19 163, 198 19 244 * 244 245 212 245 107 198 107 108 108 124 122 123 19 213 110 109 199 240 241 GENERAL INDEX. 467 PaGE Laws 1909, Chap. 490, Part III, Sec. 57........ 200 Laws 1909, Chap. 490, Part III, Sec. 58........ 111 Laws 1909, Chap. 490, Part III, Sec. 60........ 200 Laws 1910, Chap. 338........... 0.0.0 e ec eeeeee 214 Laws 1912, Chap. 623, Sec. 38.............00005 215 Laws 1915, Chap. 233, Sec. 1.............0 eee ae 110 Laws 1915, Chap. 268, Sees. 12, 13.............. 211 Laws 1915, Chap. 268, Sec. 23............000005 213 Laws 1916, Chap. 269, Sec. 9..............0005 20 Laws 1916, Chap. 269, Sec. 12................45 21 Laws 1916, Chap. 269, Sec. 13.............00005 122 Laws 1916, Chap. 269, Sec. 15..............20.. 185 New Jersey: Act of April 18, 1884, Sec. 1................ 126 Act of April 18, 1884, Sec. 5................ 140 Act of April 18, 1884, Sees. 6, 7...... eee 141 General Tax Act, Revision of 1918, Sec. 202..... 201 General Tax Act, Revision of 1918, Sec. 306..... 229 General Tax Act, Revision of 1918, Sec. 501..... 26 eneral Tax Act, Revision of 1918, See. 502..... 27 General Tax Act, Revision of 1918, Sec. 601..... 92, 127 General Tax Act, Revision of 1918, Secs. 602-3.. 140, 227 General Tax Act, Revision of 1918, Sec. 701..... 142 General Tax Act, Revision of 1918, Sec. 704..... 201 Laws 1896, Chap. 185, See. 10.................. 292 Laws 1896, Chap. 185, Sec. 43.................-. 248 Laws 1896, Chap. 185, Sec. 47.......... ayaa a 25 Laws 1896, Chap. 185, See. 142................ 26 Laws 1899, Chap. 173, Sec. 9.............00005- 28 Laws 1899, Chap. 173, Sees. 11, 13.............. 249 Laws 1899, Chap. 174, Sec. 12.................. 28 Laws 1899, Chap. 174, See. 14.................. 249 Laws 1899, Chap. 174, See. 16.................. 250 Laws 1902, Chap. 134, See. 65................. 61 Laws 1902, Chap. 134, See. 71................. 32 * Laws 1902, Chap. 135, Sees. 59, 63.............. 92 Laws 1906, Chap. 195, See. 30...............0.. 61 Laws 1906, Chap. 195, See. 42................. 228 Laws 1906, Chap. 195, Sees. 43, 44.............. 29 Laws 1906, Chap. 195, Sees. 45, 46............. 30 468 GENERAL INDEX. Pace Laws 1906, Chap. 195, Sec. 48...........0000 0 31 luaws 1911, Chap. 278, See. 110.............0.. 29 Laws 1918, Chap. 265, Sec. 3..... wy caus aura Seana 27 Laws 1918, Chap. 265, Sec. 6...........0.0000e 29 Laws 1918, Chap. 265, Sec. 7...........000e eee 25 Laws 1918, Chap. 265, Sec. 8...............4-. 227 Laws 1918, Chap. 265, Sec. 9.......... cece eeee 28 New York: Banking Law, See. 42, p. 252; Sec. 49, p. 71; Sec. 122, p. 45; Sec. 128, p. 252; Sec. 130, p. 95; See. 131, p. 130; See. 134, p. 190; See. 213, p. 252; Sec. 215, p. 95; Sec. 216, p. 130; Sec. 219, p. 190; Sec. 272, p. 33; See. 273, p. 63; Sec. 274, p. 187; Sec. 298, p. 70; Sec. 324, p. 45; Sec. 329, p. 70; Sec. 353, p. 44; Sec. 365, p. 70; Sec. 413, p. 70; Secs. 436, 464, p. 42; Sec. 477, p. 70. : Business Corporations Law, Sec. 36............ 207 Conservation Law, Sees. 307, 308............... 68, 193 General Corporation Law, Sec. 5, subdiv. 1...... 293 General ‘Corporation Law, Sec. 248............. 36 Insurance Law, Sec. 44, p. 43; Sec. 50, p. 44; Sec. 74, p. 169; Sec. 79, p. 40; Sec. 94, subs. 8 and 12, p. 251; Secs. 133, 134, p. 66; Sec. 137, p. 42; Sec. 138a, p. 36; Sec. 142, p. 41; Sec. 202, p. 93; Sec. 204, p. 114; See. 242, subs. 1 and 2, p. 94. Laws 1914, Chap. 14, sub. 1...............-20.. 38 Laws 1916, Chap. 17, p. 129; Chap. 105, Sec. 10, p. 144; Chap. 105, Sees. 15, 18, pp. 114, 145; Chap. 502, p. 34. Laws 1917, Chap. 297, See. 15, p. 114; See. 17, p. 144; See. 31, pp. 44, 145, 170; Sec. 33, p. 44. Laws 1918, Chap. 552......... 00. cece eee 14 New York City Charter, Sec. 476, p. 34; Sec. 892, p. 204; Sec. 898, p. 205; Sec. 914, p. 129; Sec. 916, p. 143; Sec. 926, p. 179. Stock Corporations Law, Sec. 34............... 39 Tax Law, Secs. 8, 9, p. 166; Sec. 23, p. 144; Sec. 24d, p. 231; Sec. 24e and f, p. 233; Sec. 27, p. GENERAL INDEX. 469 PacE 145; Sec. 28, p. 146; Sec. 36, p. 178; Sec. 36a, p. 180; Sec. 37, p. 180; Sec. 39, p. 188; Sees. 82, 89, p. 65; Secs. 120, 127, p. 68; Sec. 150, p. 178; Sec. 182, p. 217; Sec. 183, p. 219; Sec. 187, p. 146; Sec. 188, p. 176; Sees. 188a, 189, p. 177; Sec. 191, p. 65; See. 192, sub. 5, p. 93; Sec. 192, subs. 7, 8, 9, p. 176; Sec. 192, pp. 65, 220; See. 197, pp. 65, 187; Sec. 211, p. 164; Sees. 212, 213, p. 166; Sec. 219c, p. 34; See. 219e, p. 45; Sec. 219f, p. 35; Sec. 259, p. 167; Sees. 290, 291, p. 192; Sec. 366, subs. 1 to 3, p. 96. Pennsylvania: : Act of May 18, 1856, See. 8................04- 48 Act of April 29, 1874, Sec. 39................4. 194 Act of May 28, 1874, Sec. 5........ 0.0. cece eee 56 Act of May 13, 1876, Sec. 15................. 150 Act of April 19, 1883, Sec. 2............ 20 eee 56 Act of April 19, 1883, See. 13..............008. 150 Act of May 20, 1889, Sec. 25.............-.06. 253 Act of June 1, 1889, Sec. 24............ 0 ee eee 47 Act of June 1, 1889, Sec. 27...........0ee eee ee 221 Act of June 8, 1891....... ccc ccc cece eee eee 53 Act of February 11, 1895.............. 0. eee eee 150 Act of June 24, 1895.......... cece eee eee 253 Act of June 26, 1895, Sec. 2............. 2c eee 51 Act of June 22, 1897........ ccc cece ee eee eee 253-254 Act, O£ duly 15, 1807... vee teneaneearwies ed 98, 150 Act of May 2; 1899... 00. cc0cecsnceneraer wees 171 Act of May 11, 1901, Sec. 5...............08.. 132 Act of June 14, 1901, See. 1...............0... 171 Act of June 24, 1901.......... 0. cece eee eee 221 Act of June 7, 1907, Sec. 4........ cece ween ees 46 Act of June 13, 1907, Sec. 1....-.........0005. 98 Act of June 1, 1911, Sec. 12...............006. 49 Act of June 1, 1911, Sec. 13................... 100 Act of June 1, 1911, Sec. 15...............00.. 98 Act of June 1, 1911, Sec. 28........... eee e eee 49 Act of July 21, 1913, See. Li... eee eee eee ee 56 Act of June 2, 1915, See. 1.... 2. ee eee eee ‘53 Act of June 7, 1915, See. 1........ gadleace omens ane 50 470 GENERAL INDEX. PaGE Act of June 7, 1915, See. 3......... eee eee 50 Act Of Tialy> 8, VOUT soc seseis seu 's oacececscace gre oie anes 48 Act of July 11, 1917, See. 9..............0006- 48 Act. of July 20; 1917 c...ssiesaveeiebsa etecaiee's 55 Steamship ticket agencies, annual return (Mass.)...... 214 Stockholders, annual return to town assessors (Maine).. 105 Stockholders of banks, annual list (Mass.).............. 108 Annual meeting (N. Ji)... cc cece cece cece eee eee eee 28 Stockholders of trust companies, annual meeting (N. J.) 28 Stock tramsfer tax (Mass.).......... 00. e cence eee ees 266-267 Same: (N. ‘Y:) .cisceasees eos eeMawwd kare Ses tadees 275-279 Same -(Pas)) wscaue vase odeeinwelsaoadeuaedsanaes 287 “* Store orders,’’ report of (Pa.).........c cess eee eees 221, Suggestions for preparing corporate reports............ 289 Surety companies (Del.), annual statement............. 10, 59 Foreign, annual statement (Pa.).............02000- 51 Surplus (Federal income tax), notes on... .313-317, 324, 329-331 Sussex county (Del.), local taxation...... 10, 15, 80, 135, 183, 209 Tangible property (for Federal income tax)............ 323-324 Taxation, agents of foreign insurance companies (N. Y.). 42, 66 Anthracite coal (Pa.) .....-. cece eee ee cee eer 287 Banks (Dell) icucumeekvowd sou cduwedye ca cek seatee 135, 256. Same: (Ne Daan sane otitwilie.weie sau vedas wanted 227 Same (CN. Ye) peal scheed) aa bang seaala erases eas 231, 233 Same (Pa:) ssieiiavieeswesee exwnccerews vee 98, 283 Dealers in opium (Fed.)........ 0... cece eee e eee 151 Domestic insurance companies (Pa.)............056. 56 Fire insurance agents (Maine)................005: 16: Foreign banks (Maine).............seeeeeeeeenees 120: Same: (Ne Yi) se vacioag eacwawiut said alee bin aru 65 Foreign insurance companies (Del.)..............0. 58, 60: Same ON. Jo)sa asic ssass ods ewer ee oe eet as 61 General (Ni. Si) e2 sini cc adeieiaeewe send ean eae caek 127 Same: (Ns. V3) .dn. cee tae teresa en Saw aies tek wale 65, 68 Date of assessment (Maine)............-.--.-- 104 Sameé- (Ma8s:)\ ssaci oes aeeies ceeds sie seas 107 When due? (Ni: di) e nies tis saaarine ype eaew ebe 113, 227 Insurance brokers (Pa.)............2-05 asanmecete 49 Insurance companies (Del.).............. ce aan eoeniass 256-257 Same (Maine) .i..02s:e.so0s verde caseseeroe ve 104 GENERAL INDEX. 471 PacE Same:-(Ne V.)esscueeedeewee vie ve eww eee ey 146 Dame Ras) odie iad walewuie eu een vale ie ewe aera 284 Life insurance companies (Del.).............000005 256 Same-(Mass:)) savc wus devo ciwese eaves cus 123 IN ew: York: (City yanuceseeaktas wince ev a ee eas 129, 143 Residence for purpose of (N. Y.)..........000 eee 166 Savings banks (Del.) .......... ccc ce cece eee eeeeee 135 Same CMass:). sscoicsenieuiraaies Gian aa nd aces 124 Same (Pal): avdesce ves de Meee eee se Gas 98 Shell-fisheries (N. Y.).......... cece cece eee e eee 68, 114 State systems, summaries of.................0005- 255 Stock transfers, see ‘‘ Stock Transfer Tax.’’ Trust companies (Del.).......... 2 cece eee eee 135 ‘Vessels: (Mass,)i" 9 osso.5.ae nee gneapy esis aeles Wee EME 108 Vessels, exemption from (N. Y.)...........--ceeeee 273 Taxes on realty, when a lien (Mass.)...............2--- 107 Same (N: Jz) a. caccgaute caer eeae eres ta tae oaeas 227 Taxes, special, on occupations (Fed.)................6- 155 Taxes, withholding, annual returns (Fed.).............. 15 ‘¢ Tax free covenant,’’ definition (Federal income tax).. 297 Theatres, taxation of proprietors (Federal)............. 156 Third-class cities, local taxation (Pa.)..........-...06. 132,171 Ticket agencies, steamship, annual return (Mass.) . covalent 214 Title insurance companies, annual report of value of shares: (Pa): cic-saccb ees wee he does ea mane 150 Tobacco, manufacturers, annual returns (Fed.)......... 4 Taxation. .(Reds) sawssnc cee Se sarertniureaewecona tare 158 ‘¢ Treatment of Special Cases ’’ (income tax form). Notes on (Fed.) ........000: Sieh uatiagh wecasnies 354-357 ‘¢ Trust,’’ report by companies using this word in title (Deli) we tecesecse det secasseer ee eateaes ees 236 Trust and banking companies, semi-annual return (Maine) 88 Trust companies, annual report........---.--eeeeeee eee 103 Same (Maine) ......... cscs ee eee eee e cence eens 239 Game (Mass.) ...-.0-.ccceee ee eeer cece re ceteneces 244 Same: ON. J.) e cceuusiiacdaagiaeiseivatends dee sah ome 27, 250 Annual examination by trustees (Maine).......... 239 Annual report of trust funds (Mass.).............. 110 Of unclaimed deposits (N. Y.)........--eeeees 190 Of value of shares (Pa.)........cc cee eeeeeeeee 150 Annual stockholders’ meetings (N. J.).........-66- 28 472 GENERAL INDEX. PaGE Directors’ annual meeting (N. Y.).........0.e00ees 252 Examination by directors (N. J.)........0ceeeeeees 249 Franchise tax (N. Y.) ......... eee ee eee cea tee ais 176, 187 Semi-annual examination by directors (N. Y.)...... 95 Semi-annual report (Del.)............eeceeeeeeeeee 235 Same “CN. Y..) c2ca aise ies dk nie baauiee cnewea sas 130 Trust funds, annual return by national banks and trust companies (Mass.) ............ ERE RL eee kone sets 110 Trust mortgages, annual statement relating to (N. Y.).. 167 Trustees of savings banks, annual examination by (Mass.) 245 Same: (Pa.): 2. ssevkes sas nwiwe esheaei ede se eeiee ct 253 Trustees, returns by under income tax law (Mass.)...... 20 @unnel “tax (CNW .) 324 nace eecnets end nee tea ese eee isery Sees 269 Unclaimed property, report of (Pa.)............ 2. eee 48, 50 Underwriters, list of agents of (N. Y.).............05. 41 *¢ Undistributed Profits Taxable to Stockholders ’’ (Fed- eral income tax form), notes On...........eeeeeees 354-357 Undivided profits (Federal income tax), notes on...... 313-317, 324, 329-331 ‘Vessels, taxation of (Mass.)..........ceeeeeeeeeeeeeees 108 Exemption from taxation (N. Y.)............0008 273 War facilities, amortization of (Federal income tax).... 309-312 War profits tax, amount in certain cases (Fed.)........ 304 Warrants for bank tax, when issued (N. Y.).......... 231 Water rates, second-class cities (Pa.)..............000- 55 Same: iN): Viv Citys. cus ak one cne ore hoe eeaeedieesds 34 Webb Act, reports by corporations organized under (Fed.) 1 Westchester county (N. Y.), local taxation....33, 114, 129,144, 187, 205 Withholding income tax (Fed.), annual returns........ 75 UATE sidia eek Sz alee ean Save ple Rabe shale ead aeeanataahd anes 294-295 Notes! On) sus stacanieeiiaeds wasn odes cee t ae ress 295-299 Withholding income tax on nonresidents (N. Y.)........ 95 INDEX OF FORMS. ‘ ’ Annual certificate of condition, domestic corporations (Massa)-"iaiia 2sias audeloa ea biacouasancsgarys lee icee edgar Foreign corporations (Maine)................0.00. Same (Mass.) .......... yaiseparet spunens oie Auer d Rede hay'n Annual franchise tax return (Mass.).........-..00.0005 Dame CN: Bie drstdecis eas ce he wh wana wales be aus. Same: (Ne Yi) sie wate Stes seslenag estes cack eeereeara ac eae Annual list of stockholders (Maine)........... ig alin te wes Annual report, domestic corporations (Del.)............ Same (Maine) ...........ccccceeccsevececceceecs Dame), GNii de) eae sass ate hie esis Nave neenig vn sncoaaas Foreign corporations (N. J.)........ceceeceeceeeee Annual statément as to corporate mortgages (N. Y.).... Rens weapon (PAS asec rahe ioeceekewseempekseuhews Capital stock report (N. Y.).......cccccceccceecueeees Same-(Pa.)) 0 scat veseueohhe eyewash Capital stock tax, petition for exemption (Pa.)......... Certificate of condition, annual, domestic corporations (MASSE) sid davulasnantsliegabee eh ae a Saeatas ety Foreign corporations (Mass.)..............eeeeeeee Same (Mame) ics aii ages aeiets caw ane oles wed Corporate loans report (Pa.).......... cece ee eee eeeees Domestic corporations, annual franchise tax return (Mass.) Annual certificate of condition (Mass.)............ Annual report (Del.)........... cece eee eee eee eee Same: (Maine): s.:.ctesa vestige eiaueeee dele sag aa's Same “GN.. Ta) wae etiot dase w ie dee oles aie aes toe aes Exemption from capital stock tax, petition for (Pa.).... (473) PAGE 374 364 379 370 391 398 368 361 366 387 389 412 431 398 414 424 374 379 364 421 370 374 361 366 387 424 AT4 INDEX OF FORMS. Pace Foreign corporations, annual certificate (Maine)....... 364 Same (Mass:) saisses cas cisaavnns Gis vearwese seers 379 Annual report (N. J.).. cc cece cece eee e cence enone 389 Franchise tax report (N. J.). 0... cece cece cee eee eens 391 Dames CIN GV.) ccieso-s sic aug waa: ibe Giceira Aoce dunve Gace avandes 398 Income tax report (N. Y.)....-...ceeeeeeee Soles baal eae a 405 List of stockholders, annual (Maine)........-...-.-050 368 Loans, report. of (Pa.) ssscccusceesseeecssaesvaeacccve 421 Manufacturing companies, petition for exemption from capital stock tax (Pa.)...... ese e eee eee eee eee e eee 424 Mortgages, corporate, statement regarding (N. Y.)...... 412 Stockholders, annual list of (Maine).................4- 368 Se remtreet tmeaen epi , eten so Sra ahea dara edeses esses Toleatiteseteaee earsies ieee ; SS MAIS Seotnet Se ee seh stseae ease tes edes Rtas: Pee Tere is) ‘ +. * oo wee ie bata ach ati le fie yest at ha \ PCTS PEAY hi