whose certificates of incorporation are filed, or of the foreign stock corporations to whom a certificate of authority has been issued to do business in this state, during the preceding month. Such report shall state the name of the corporation, its place of business, the amount of its capital stock, its purposes or objects, the names and places of residence of its directors, and, if a foreign corporation, its place of business within the state. The commission may prescribe the forms and furnish the blanks for such reports. The secretary of state shall make like reports to the commission whenever required by it relating to any such corporations whose certificates have been filed or to whom a certificate of authority has been issued prior to the time when this article takes effect, and during any period of time specified by the commission in its request for such report. (Thus ani'd by L. 1915, chap. 317, in effect Apr. 15, 1915.) The § 205. Exemptions from other state taxation. personal property of every corporation, company, association or partnership, taxable under this article, other than for an organization tax, shall be exempt from assessment and taxation upon its personal property for state purposes, if all taxes due and payable under this article have been paid thereby. The personal property of every corporation taxable under section one hundred and eighty-eight of this article, or under section one hundred and eighty-eight-a of this article, other than for an organization tax, and as provided in the banking law, shall be exempt from assessment and taxation for all other purposes. The personal property of a private or individual banker, actually employed in his business as such banker, shall be exempt from taxation for state purposes, if such private or individual banker shall have paid all taxes due and payable under this article. Such corporation and private or individual banker shall in no other respect be relieved from assessment and taxation by reason of the provisions of this article. The owner and holder of stock in an incorporated trust company liable to taxation under the provisions of this chapter shall not be taxed as an individual for such stock. Personal property exempted from taxation by this section shall not include shares of stock of banks and banking associations taxable under the provisions of sections twenty-four to twenty-four-g, both inclusive, of this chapter. (Thus am'd by L. 1917, chaps. 39 and 707, in effect Mar. 9 and June 1, 1917.) § 206. Application of taxes. The taxes imposed by this article and the revenues thereof shall be applicable to the general fund of the treasury and to the payment of all claims and demands which are a lawful charge thereon. § 207. Limitation of time. The provisions of the code of civil procedure relative to the limitation of time of enforcing a civil remedy shall not apply to any proceeding or action taken to levy, appraise, assess, determine or enforce the collection of any tax or penalty prescribed by this article, and this section shall be construed as having been in effect as of date of the original enactment of the corporation tax law, provided, however, that as to real estate in the hands of persons who are owners thereof who would be purchasers in good faith but for such tax or penalty, and as to the lien on real estate of mortgages held by persons who would be holders thereof in good faith but for such tax or penalty, all taxes and penalties which have prior to April first, nineteen hundred and seventeen become due and payable pursuant to this article, and which have not been referred to the attorney-general pursuant to section two hundred and three of this chapter, shall cease to be a lien on such real estate as against such purchasers or holders, after the expiration of ten years from the time when such tax became due and payable. (Thus am'd by L. 1917, chap. 410, in effect July. 1, 1918.) ARTICLE 9-A1 Franchise Tax on Business Corporations. Section 208. Definitions. 209. Franchise tax on corporations based on net income. 210. Corporations exempted from article. 211. Reports of corporations to tax commission. 212. Reports by corporation on basis of fiscal year. 213. Reports to be sworn to; forms. 214. Computation of tax. 214a. Taxation of corporations acquiring assets or franchises of other corporations. 215. Rate of tax. 216. Penalty for failure to report. 217. Powers of tax commission. 218. Revision and readjustment of accounts by tax commission. 219. Review of determination of tax commission by certiorari and regulations as to writ. 219a. Audit and statement of tax. 219b. Notice of tax. 219c. When tax payable. 219d. Corrections and changes. 219e. Warrant for the collection of taxes. 219f. Action for recovery of taxes; forfeiture of charter by delinquent corporations. 219g. Deposit of revenues collected. 219h. Disposition of revenues collected. 2191. Secrecy required of officials; penalty for violation. 219j. Exemptions from certain other taxation. 219k. Limitation of time. 2191. Personal property defined. § 208. Definitions. As used in this article: 1. The term corporation" includes a joint-stock company or association; 2. The words "tangible personal property" shall be taken to mean corporeal personal property, such as machinery, tools, implements, goods, wares and merchandise, and shall not be taken to mean money, deposits in bank, shares of stock, bonds, notes, credits or evidences of an interest in property and evidences of debt; 1 Article added by L. 1917, chap. 726, in effect June 4, 1917. 3. The term 66 entire net income 99 means the total net income before any deductions have been made for taxes paid or to be paid to the government of the United States on either profits or net income or for any losses sustained by the corporation in other fiscal or calendar years whether deducted by the government of the United States or not. (Added by L. 1917, chap. 726; thus am'd by L. 1918, chap. 417; L. 1919, chap. 628, in effect May 14, 1919.) § 209. Franchise tax on corporations based on net income. For the privilege of exercising its franchise in this state in a corporate or organized capacity every domestic corporation, and for the privilege of doing business in this state, every foreign corporation, except corporations specified in the next section, shall annually pay in advance for the year beginning November first next succeeding the first day of July in each and every year an annual franchise tax, to be computed by the tax commission upon the basis of its entire net income for its fiscal or the calendar year next preceding, as hereinafter provided, which entire net income is presumably the same as the entire net income upon which such corporation is required to pay a tax to the United States, or as otherwise provided by section two hundred and fourteen of the tax law, except that the entire net income of a corporation not organized under the laws of any state within the United States which shall be taken as the basis of computation by the tax commission shall be the entire net income in fact rather than the amount earned in the United States or the amount returned to the United States treasury department. (Added by L. 1917, chap. 726; thus am'd by L. 1918, chap. 276; L. 1919, chap. 628; L. 1920, chap. 640, in effect May 10, 1920.) § 210. Corporations exempted from article. Corporations wholly engaged in the purchase and sale of, and holding title to, real estate for themselves, corporations whose sole business consists of holding the stocks of other corporations for the purpose of controlling the management and affairs of such other corporations, except such as are specifically subject to report under the provisions of subdivision nine of section two hundred and eleven of the tax law, and corporations liable to tax under sections one hundred and eighty-four to one hundred and eighty-nine inclusive of this chapter, banks, savings banks, institutions for savings, title guaranty, insurance or surety corporations shall be exempt from the payment of the taxes prescribed by this article. (Added by L. 1917, chap. 726; thus am'd by L. 1918, chap. 417; L. 1920, chap. 640, in effect May 10, 1920.) § 211. Reports of corporations to tax commission. 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, preceding said first day of July, transmit 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 income wherever earned and as though organized under the laws of this state, and instead of stating its income as returned to the United States treasury department. 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, except as provided in subdivision one of this section. If the corporation shall claim that the return made 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 sustained by the corporation in prior years the amount so allowed and deducted shall be speci fied. 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 |