CHAP. IX. sections § 8. The provisions of the fifteenth section of the second title of this chapter, shall be, and are hereby extended to the incorpo- Preceding rated companies in the two preceding sections named; and the extended. president, secretary or other proper officer, may make the affidavit required by said section. (Sections 9, 10 and 14 were repealed by Laws of 1857, chap. 456, and sections 11, 12, and 13, by Laws of 1853, chap. 654.) stated and collected. 15. The amount of taxes assessed on all incorporated com- [417] panies liable to taxation, shall be set down by the board of super- Taxes to be visors, in the fifth column of the corrected assessment-roll, and shall form a part of the moneys to be collected by the collector. [As amended by Laws of 1857, chap. 456.] People v. Board of Assessors of Brooklyn, 39 N. Y. 81; People v. Barker, 48 id. 70. visors. 16. The board of supervisors, having completed the assess- Duty of ment, shall transmit to the comptroller, with the aggregate valua- super tions of the real and personal estate in their county, a statement, showing the names of the several incorporated companies liable to taxation in such county; the amount of the capital stock paid in, and secured to be paid in, by each; the amount of real and personal property of each, as put down by the assessors, or by them; and the amount of taxes assessed on each. In those counties in which there is no such company, the boards of supervisors shall certify such fact to the comptroller, with their returns of the aggregate valuations of real and personal estate. § 17. The collector shall demand payment of all taxes assessed Duty of on incorporated companies, from the president, or other proper collector. officer, of such companies; and if not paid, shall proceed in the collection and payment thereof, in the same manner as in other cases, and shall be liable to the same penalties for the non-payment of moneys collected by him; and the collector's receipt shall be evidence of the payment of such tax. People v. Barker, 48 N. Y. 70. § 18. Such taxes shall be paid out of the funds of the company, Taxes, how and shall be ratably deducted from the dividends of those stock-paid. holders whose stock was taxed, or shall be charged upon such stock, if no dividends be afterward declared. People v. Dolan, 36 N. Y. 59; People v. Barker, 48 id. 70. 19. If the collector shall not be able to collect any tax assessed Proceedupon an incorporated company, he shall return the same to the ings if taxes cannot be CHAP. IX. Art. II. collected. Id 418] Attorneygeneral to in supreme court. county treasurer, and at the same time make affidavit before the county treasurer, or some other officer authorized to administer oaths, that he had demanded payment thereof from the president, or other proper officer of the company, and that such officer had refused to pay the same, or that he had not been able to make such demand, as the case may be; and that such company had no personal property from which he could levy such tax. People v. Barker, 48 N. Y. 70. § 20. The county treasurer shall thereupon certify such facts to the comptroller, who shall pass to the credit of such county treasurer the amount of all taxes so returned and certified, as in the cases of taxes on the lands of non-residents. 21. The comptroller shall furnish the attorney-general with Bile petition the names of all companies and banks refusing or neglecting to pay the taxes imposed on them, with the amount due from them respectively; and the attorney-general shall thereupon file a petition in the supreme court against every such company or bank for the discovery and sequestration of its property. [As amended by Laws of 1857, chap. 456.] Powers of court. Further remedy. People v. Barker, 48 N. Y. 70. § 22. The chancellor, on the filing of such bill, or on the coming in of the answer thereto, shall order such part of the property of such company to be sequestered, as he shall deem necessary for the purpose of satisfying the taxes in arrear, with the costs of prosecution; and he may also, at his discretion, enjoin such company, and the officers thereof, from any further proceedings under their act of incorporation, and may order and direct such other proceedings, as he shall deem necessary, to compel the payment of such tax and costs. § 23. The attorney-general may also recover such tax with costs, from such delinquent company, by action in any court of record in this State. Capital stock, and surplus, how assessed. L. 1857, Chap. 456.—An Act in relation to the assessment (Sections 1 and 2, respectively, repeal and amend portions of the Revised Statutes.) § 3. The capital stock of every company liable to taxation, except such part of it as shall have been excepted in the assessment roll or as shall have been exempted by law, together with its surplus profits or reserved funds exceeding ten per cent of its capital, CHAP. IX. after deducting the assessed value of its real estate, and all shares Art. II. of stock in other corporations actually owned by such company which are taxable upon their capital stock under the laws of this State shall be assessed at its actual value, and taxed in the same manner as the other personal and real estate of the county. People v. Commissioners of Taxes of New York, 1 N. Y. S. C. (T. & C.), 635; S. C., 46 How. 227; People v. Commissioners of Taxes, 47 id. 164 ; S. C., I Hun, 143; People v. Assessors of Albany, 2 id. 583; People v. Commissioners of Taxes, 4 id. 595; People v. Commissioner of Taxes, 5 id. 200; People v. Shields, 6 id. 556; People v. Assessors of Brooklyn, 16 id. 196; People v. Commissioner of Taxes of New York, 32 Barb. 509; 40 id. 334; Matter of North Shore Staten Island Ferry Co., 63 id. 556; Oswego Starch Factory v. Dolloway, 21 N. Y. 449; People v. Commissioners of Taxes, 23 id. 192; People v. Supervisors of Otsego County, 51 id. 401; People v. Commissioners of Taxes of New York, 58 id. 242; 64 id. 541. lations in ance com for exclu § 4. The deposits in any bank for savings which are due to Accumudepositors and the accumulations in any life insurance company or- life insur ganized under the laws of this State, so far as the said accumula-pany held tions are held for the exclusive benefit of the assured, shall not be sive benefit liable to taxation, other than the real estate and stocks which may not liable. be owned by such bank or company, and which are now liable to taxation under the laws of this State. (Section 5 amends a section of the Revised Statutes.) of assured tion of § 6. The supreme court, on the filing of such petition, or on the Sequestracoming in of the answer thereto, may order such part of the prop- property. erty of such company or bank to be sequestrated, as shall be deemed necessary for the purpose of satisfying the taxes in arrear, with the costs of prosecution, and the court may also, at its discretion, enjoin such company or bank, and the officers thereof, from any further proceedings under their charter or act of incorporation, and may order and direct such other proceedings as shall be deemed necessary to compel the payment of such taxes and costs. Bement v. Plattsburgh & Montreal R. R. Co., 47 Barb. 104. L. 1880, Chap. 542-An act to provide for raising taxes for the use of the State upon certain corporations, jointstock companies and associations. PASSED June 1, 1880. [The above entitled act was entirely amended by Laws of 1881, chap. 361, so as to read as follows:] SECTION 1. Hereafter it shall be the duty of the president or President CHAP. IX. to make port to comp. troller. In case dividend has not been de clared capital stock to be estimated and appraised. Art. II. treasurer of every association, corporation or joint-stock company or treasurer liable to be taxed on its corporate franchise or business, as proannual re- vided in section three of this act, to make report in writing to the comptroller, annually, on or before the fifteenth day of November, stating specifically the amount of capital paid in, the date, amount and rate per centum of each and every dividend declared by their respective corporations, joint-stock companies or associations, during the year ending with the first day of said month. In all cases where any such corporation, joint-stock company or association shall fail to make or declare any dividend upon either its common or preferred stock during the year ending as aforesaid or in case the dividend or dividends made or declared upon either its common or preferred stock during the year ending as aforesaid shall amount to less than six per centum upon the par value of the said common or preferred stock, the treasurer and secretary thereof, after being duly sworn or affirmed to do and perform the same with fidelity, according to the best of their knowledge and belief, shall, between the first and fifteenth days of November, in each year, in which no dividend has been made or declared as aforesaid, or in which the dividend or dividends made or declared upon either its common or preferred stock amounted to less than six per centum upon the par value of said common or preferred stock, estimate and appraise the capital stock of such company upon which no dividend has been made or declared, or upon the par value of which the dividend or dividends made or declared amounted to less than six per centum, at its actual value in cash, not less, however, than the average price which said stock sold for during said year; and when the same shall have been so truly estimated and appraised, they shall forthwith forward to the comptroller a certificate thereof, accompanied by a copy of their said oath or affirmation, by them signed, and attested by the magistrate or other person qualified to administer the same; provided that if the comptroller is not satisfied with the valuation so made and returned, he is hereby authorized and empowered to make a valuation thereof, and to settle an account upon the valuation so made by him for the taxes, penalties and interest due the State thereon; and any association, corporation or joint-stock company dissatisfied with the account so settled, may within ten days appeal therefrom to a board consisting of the secretary of State, attorney-general and State treasurer, which board, on such appeal, shall affirm or correct the account so settled by the comptroller, and the decision Certificate to be for warded to comptroller. Appeals. CHAP. IX. troller to add ten per of failure to make report, etc of said board shall be final; but such appeal shall not stay proceedings unless the full amount of the taxes, penalties and interest as due on said account, as settled by the comptroller, be deposited with the State treasurer. [As amended by Laws of 1881, chap. 361.] People, ex rel. Westchester Fire Ins. Co., v. Davenport, 25 Hun, 630; People v. National Fire Ins. Co., 61 How. 334; id. 342; People, ex rel. National Freight Co., v. Commissioners of Taxes, 3 Law Bull. 4; People, ex rel. Eastern Transportation Line, v. Commissioners of Taxes, 26 Hun, 446. § 2. If the said officers of any such corporation, joint-stock Compcompany or association, shall neglect or refuse to furnish the comptroller, on or before the fifteenth day of November of each cent in case and every year, with the report aforesaid, or the certificate of appraisement, and oath or affirmation, as the case may be, as required by the first section of this act, or to pay the tax imposed on such corporation, company or association, within fifteen days after the first of January, as provided in the fourth section of this act, it shall be the duty of the comptroller of the State to add ten per centum to the tax of said corporation, company or association, for each and every year for which such report or certificate of appraisement and oath or affirmation were not so furnished, or for which such tax shall not have been paid, which percentage shall be assessed and collected with the said tax in the usual manner of assessing and collecting such taxes; provided, that if said officers Proviso. of any such corporation, joint-stock company or association, shall intentionally fail to comply with the provisions of the first or fourth section of this act for one year, the comptroller shall report the fact to the governor, who, if he shall be made satisfied that such failure was intentional, shall thereupon direct the attorneygeneral to take proceedings, in the name of the people of this State, to declare the charter or privileges of said corporation, joint-stock company or association, forfeited, and at an end; and for such intentional failure duly found, the charter and privileges of every such corporation, company or association shall cease, end, and be determined. [As amended by Laws of 1881, chap. 361.] tax. 3. Every corporation, joint-stock company or association, Annual whatever, now or hereafter incorporated or organized under any law of this State, or now or hereafter incorporated or organized by or under the laws of any other State or country and doing business in this State, except savings banks, and institutions for savings, life insurance companies, banks and foreign insurance |