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Show STATE TAX ON CORPORATIONS i Representative Hone's Bill Exempts Insurance and Irrigation Companies From Annual Levy. , Through :i bill introduced in the ' House, it is intended that corporat ions of Utah, with 1'ut fciv exceptions, shall 1 pay the State an aunual tax. The bill , w;is introduced lv Representative, Hone ! snd he declares that its passage would , result iu a revenue of .Vmi.iiO') to the ; State. J The lull provides: That all corporations organized under j and by virtue of the laws of this State or 1 under the laws of the Territory of I'tah, I anl ail foreign corporations doing busl-I busl-I n'ss In this State, except as hereinafter , provided, are hereby required to pay an annual Sta'e license ns follows All corporations cor-porations wl'h an authorised capital stock I of l.'VO'iO or less. I.'O. with an authorised 1 rapl'al of more than J25."Od and not to I exceed $.00. $10. with an authorised j capital of more than l"0 010 snd not to exceed lioo.oon, $50; with an authorised I capita! of more than Jlrtn.00 and not 10 ' evee-i I.'.".". $7". with an authorised ! (apl-al of .note tt an ir.rtu.nfto, $nn. I Provided, that all mutual corporations hiving no -ipl:al st-k shall pay an an- nual license of I.Su. and j Provided further, tha all corporations I of religious or charitable societies. anrl 1 orporatloiis organized not for pecuniary profl- and canal anil Irrigation companies crganiiM for the express purpose of providing wa'er f"r lands owned solely 1 hv 'he Incorporators, and ail Insurance -"I.; anles, snail he eemp' from said 11- . o n ie The license is to he paid hv November Novem-ber 1 o, each vesr The 1 'mintv Clerks a-e compelled to make a report of u 1 of corporations that have been I riled with them. Should a corporation ! fail to pav th; license required, the Attorney (ienersl shall start an action in his name and the penalty shall le $Jr"i. Failure to pav the fine will result re-sult in a revocation of the charter within a year. |