The Kentucky Law Reporter; A Monthly Magazine, Devoted to the Interests of the Legal Profession at Large and Particularly of the Kentucky Bar Volume 20, PT. 2

The Kentucky Law Reporter; A Monthly Magazine, Devoted to the Interests of the Legal Profession at Large and Particularly of the Kentucky Bar Volume 20, PT. 2

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1899 edition. Excerpt: ...4077, Kentucky Statutes, every corporation is liable to pay taxes on its franchise. The auditor, treasurer and secretary of State arethereby constituted a board of valuation and assessment for fixing the valueof franchises for the purpose of taxation. Under section 40751, Kentucky Statutes, the corporations are rcquired to make a report to the auditor, giving certain information with reference to their property, with the view of enabling the hoard to value and assess the franchises. and in which section it is provided "that said board, from said. statement, and from such other evidence. as it may have, if such corporation, company or association be organized under the laws of this State. shall flx the value of the capital stock of the corporation. company or association, as provided in the next succeeding section, and from the amount thus fixed. shall deduct the assessed value of all tangible property assessed in this State, . or in the counties where situated. The remainder thus found shall be the value of its corporate franchise subject to taxation as aforesaid." ln 1888 the State board of equalization and assessment was created by anact of the legislature, and amended in 1890. The law was not re-enacted after the adoption of the present Constitution, but Barbour & Carroll'sKentucky Statutes (1894) contain the act as amended, which is embraced in sections 4268 and 4281, inclusive. It will be observed that there is a noteby the compilers before section 4268. as follows: "This was not a part of preceding section." The preceding act to which reference is made is thegeneral revenue law of the State. which took effect November ii, 1892. For the purpose of this inquiry it is only necessary to quote certain sections...show more

Product details

  • Paperback | 654 pages
  • 189 x 246 x 33mm | 1,148g
  • Rarebooksclub.com
  • United States
  • English
  • black & white illustrations
  • 123693170X
  • 9781236931702