Wealth, Debt, and Taxation
This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1907 edition. Excerpt: ... or interest therein passing to collateral kindred or strangers to the blood, the tax is 3 per cent. The tax is to be paid to the treasurer of the state by the executor or administrator within one year after his qualification. IV. Corporation taxes. Corporate property of domestic and foreign corporations, whose stock is not subject to taxation and which are not required to pay a direct tax to the state in lieu of other taxes, is listed for taxation in the towns, as is the property of individuals. Railroads.--Railroad companies are taxed for state purposes upon the value of their capital stock and funded and floating indebtedness, as determined by the state board of equalization, made on the basis of statement by the company. This valuation is taken as "the measure of value of such railroad, its rights, franchises, and property," and is in lieu of all other taxes, except taxes on real estate not used for railroad purposes, which are deducted from the taxes calculated on the stock and debt valuation. In the assessment where part of the funded and floating debt was occasioned by, or stock was issued for, any part of the railroad in another state, or steamboat line in connection with the railroad, that amount is deducted from the valuation. When only part of the railroad lies in the state, the company pays on such proportion of the valuation as the length of its road lying in the state bears to the entire length of road. In fixing the valuation and length of line in the state, any branch in the state which is of less than one-fourth the average value per mile of the trunk line is not included but is estimated separately at its true and just value and taxed at the rate of 1 per cent thereon. The amount of any bonds or other obligations of...
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