tax at the rate of two per centum upon the gross amount of its receipts so returned or ascertained; that each GAS COMPANY and ELECTRIC LIGHT COMPANY shall pay to the state a tax at the rate of one-half of one per centum upon the gross amount of its receipts so returned or ascertained, and five per centum upon the dividends of said company in excess of four per centum so earned or declared; that each OIL or PIPE LINE COMPANY shall pay to the state a tax at the rate of eight-tenths of one per centum upon the gross amount of its receipts so returned or ascertained; that each INSURANCE COMPANY OTHER THAN LIFE shall pay to the state a tax at the rate of one per centum upon the gross amount of its premiums so returned or ascertained; that each LIFE INSURANCE COMPANY incorporated under the laws of this state shall pay to the state an annual franchise tax of one per centum upon the amount of its surplus on the thirty-first day of December next preceding the time of such payment as fixed in section five, as the same shall be ascertained by the commissioner of insurance in this state, according to the actuaries' table of mortality, and four per centum interest; that each LIFE INSURANCE COMPANY NOT INCORPORATED UNDER THE LAWS OF THIS STATE, BUT DOING BUSINESS THEREIN, shall pay to the state an annual tax of two per centum on the amount of premiums collected during the year ending December thirty-first as aforesaid, from residents of this state, except on the amount of premiums collected from industrial insurance, on which amount each company shall pay to the state an annual tax of one per centum per annum, deducting from said premiums the amount of dividends actually allowed in rebate of the same, and the amount paid. during said year to residents of this state for claims under matured policies; the secretary of state, acting as the commissioner of insurance, shall ascertain and report to the state board of assessors all the facts necessary to enable the board to ascertain and fix the amount of Other corporations. Proviso. Report to be made to comp troller due. tax to be paid by life insurance companies under this act; that each PARLOR, PALACE or SLEEPING CAR COMPANY shall pay to the state treasurer a tax at the rate of two per centum upon the gross amount of its receipts so returned or ascertained; if any OIL or PIPE LINE COMPANY has part of its transportation line in this state and part thereof in another state or states, such company shall return a statement of its gross receipts for transportation of oil or petroleum over its whole line, together with a statement of the whole length of its line and the length of its line in this state; such company shall pay tax to the state at the aforesaid rate upon such proportion of its said gross receipts as the length of its line in this state bears to the whole length of its line; THAT ALL OTHER CORPORATIONS INCORPORATED UNDER THE LAWS OF THIS STATE, and NOT HEREINBEFORE provided for, shall pay a yearly license fee or tax of one-tenth of one per cent. on the amount of the capital stock of such corporations; provided, that THIS ACT SHALL NOT APPLY TO RAILWAY, CANAL or BANKING CORPORATIONS, or to SAVINGS BANKS, CEMETERIES or RELIGIOUS CORPORATIONS, or PURELY CHARITABLE or EDUCATIONAL ASSOCIATIONS, or MANUFACTURING COMPANIES or MINING COMPANIES carrying on business in this state. 5. And be it enacted, That the state board of assessors ceipts and tax 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 amount of gross receipts, as returned by each company to, or ascertained by the said board, and the amount of tax due thereon respectively, at the rate To whom paid, fixed by this act; such tax shall thereupon become due and payable, and it shall be the duty of the state treasurer to receive the same; if the taxes of any company remain unpaid on the first day of July, after the same Taxes remain become due, they 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 ing unpaid to bear interest. 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 abstracts of the books of such companies, and may swear and examine witnesses in relation thereto; the comptroller Compensation 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, eighteen hundred and eighty-four, the sum of five hundred dollars annually. Taxes to be a collected. 6. And be it enacted, That such tax, when determined, debt, and how shall be a debt due from such company to the state, for which an action at law 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. may be restrained from trans if tax due is in months. 7. And be it enacted, That in addition to other remedies Corporations for the collection of such tax, it shall be lawful for the acting business attorney general, either of his own motion, or upon the arrears three 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 corporation, which notice may be served in such manner as the chancellor may direct, for an injunction to restrain such corporation from the exercise of any franchise, or the transaction of any business 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 injunction, if a proper case appear; and upon the granting and service of such injunction, it shall not be lawful for such company thereafter to exercise any franchise or transact any business in this state until such injunction be dissolved. or affect ta on Act not to apply 8. And be it enacted, That this act shall not apply to or premiums now in any manner affect the tax upon the premiums ob paid by fire insurance companies. Repealer. tained in this state by foreign fire insurance companies and their agents, which tax shall be in lieu of the tax herein provided, and shall be collected and distributed as is specially provided by law in relation thereto. 9. And be it enacted, That all acts and parts of acts inconsistent herewith be and the same are hereby repealed in so far as the same are inconsistent herewith. 10. And be it enacted, That this act shall take effect immediately. When corporations not liable to be refunded. CHAPTER LXXXVI. A Supplement to an act entitled "An act for the imposition of state taxes upon certain corporations and for the collection thereof," approved April eighteenth, one thousand eight hundred and eighty-four. Approved March 1, 1888. 1. BE IT ENACTED by the Senate and General Assembly of to taxation, tax the State of New Jersey, That when any corporation upon which taxes have been or shall be levied under the provisions of the act to which this is a supplement shall afterwards be found by the state board of assessors to be not liable under the said act for such tax, it shall be the duty of the said board to report and certify to the comptroller of the treasury the fact that such corporation has been found to be exempt from the tax imposed by the said act, and to cancel and declare null and void any taxes which may have been or shall be imposed upon such exempted corporation, and if any corporation has paid or shall pay the tax so improperly levied the comptroller of the treasury shall be and is hereby authorized upon receipt of such certificate to draw his warrant upon the state treasurer in favor of the proper officer of such corporation for any and all of such taxes which have been or shall be paid into the state treasury. 2. And be it enacted, That this act shall take effect immediately. CHAPTER CCXXXII. An Act to provide a method for appointing commissioners in the place of other commissioners who have deceased or who shall fail to act in certain cases touching the organization of companies. Approved May 7, 1889. commissioners in- may appoint others in place of those who have deceased or fail to attend. 1. BE IT ENACTED by the Senate and General Assembly of A majority of the State of New Jersey, That in all cases where acts of corporation have heretofore been passed, in which certain commissioners are named to receive subscriptions to the capital stock of any company, and to do certain things mentioned in said acts of incorporation, and where any of said commissioners shall have deceased before the organization of said company or companies, or shall fail, for any reason, to act with a majority of the surviving commissioners named in said acts, respectively, when required to organize any of said companies, that a majority of said commissioners who shall attend the organization of said company or companies shall have the power to elect other commissioners to take the places of those who have deceased, or who shall fail to attend the first meeting of said commissioners, upon due notice, and to perform all of the duties which would have devolved upon the said deceased or absent commissioners in regard to the organization of said company or companies. 2. And be it enacted, That this act shall take effect immediately. |