in 88), must pay the same tax as if each share of stock had a face or par value of $100.00. These taxes are not cumulative; but where two or more of them shall be incurred at the same time, the higher rate shall be alone imposed. Benevolent, religious, charitable and educational corporations with no capital stock, and corporations organized under section to promote public parks and drives are exempt from taxation, and are liable only for the charter fees. Foreign corporations desiring to do business in this state must "domestieate" in accordance with section 113; and pay to the secretary of state a filing fee of $5.00, and a tax of 20c on every $1,000 of its total authorized capital stock: Provided, the amount of said tax shall never be less than $25.00 nor more than $250.00. ART. 4. ANNUAL TAX ON CONTINUED EXISTENCE; SCHEDULE "C", REVENUE ACT OF 1921. Upon domestic corporations, a tax is annually imposed of onetenth (1/10) of one per cent upon the subscribed or issued and outstanding capital stock, but the minimum tax shall be $10.00. No county or municipality is permitted to impose any franchise tax. Foreign corporations shall pay a like tax upon the proportion of the capital stock devoted to this state, or to the business done in this state, as ascertained by the Commissioner of Revenue. Where it is made to appear that capital stock issued and outstanding is less than half the assessed value for taxation of all the property of such company in this state for the year in which the report is made; or when the report of a foreign corporation shows the proportion of its capital stock apportionable to this state to be less than half the assessed value for taxation of its property in this state for the same year, the franchise tax shall be computed with reference to one-half of the total value of the property in this state of such companies. The above does not refer to the franchise tax upon railroads, banks, insurance companies, fraternal and benevolent associations, express, telephone and telegraph companies, or to other companies upon which specific franchise taxes may have been imposed. ASSESSMENT OF FRANCHISE TAXES BY COMMISSIONER 896. Franchise tax on corporations. 1. Domestic corporations. a. Report to be made. Between the first day of May and the first day of July, one thousand nine hundred and thirteen, and annually thereafter during the month of May, each corporation organized under the laws of this state shall make a report in writing to the commissioner of revenue in such form as the commissioner may prescribe. Such report shall be signed and sworn to before an officer authorized to administer oaths, by the president, vice president, secretary, or general manager of the corporation, and forwarded to the commissioner. Such report shall contain: 1. The name of the corporation. 2. The location of its principal office. 3. The name of the president, secretary, treasurer, and members of the board of directors, with post office addresses of each. 4. The date of the annual election of officers. 5. The amount of authorized capital stock and the par value of each share. 6. The amount of capital stock subscribed, the amount of capital stock issued and outstanding, and the amount of capital stock paid up. 7. The nature and kind of business in which the corporation is engaged, and its place or places of business. 8. The change or changes, if any, in the above particulars made since the last annual report. b. Amount of tax determined. Upon the filing of the report provided for in the last three preceding subsections, the commissioner, after finding such report to be correct, shall, on or before the first Monday of August, determine the amount of the subscribed or issued and outstanding capital stock of each such corporation. On the first Monday in August, or as soon thereafter as practicable, the commissioner shall certify the amount so determined by him to the auditor of the state, who shall charge for collection on or about August fifteenth, as herein provided, from such corporation, a fee of one-tenth of one per cent upon its subscribed or issued and outstanding capital stock, which fee Π Such fee shall be shall not be less than ten dollars in any case. payable to the treasurer of the state on or before the first day of the following October. No county, city, or town shall have the power to levy any franchise tax under this section. Where a report required to be made under the provisions of this section to the commissioner of revenue by any domestic corporation shows capital stock issued and outstanding by any such company to be less than one-half of the assessed value for taxation of all the property of such company in this state for the year in which report is made, or the report of any foreign corporation shows the proportion of the capital stock of such foreign corporation apportionable to this state under the rules laid down in section 82 of this act (herein 896) to be less than one-half of the assessed value for taxation of all the property of such company in this state for the year in which such report is made, the measure of the extent to which the corporate franchise of any such corporation is being used and the amount of franchise tax to be paid by any such corporation shall be calculated with reference to the sum of one-half of the total assessed value of all the property of such corporation in this state. 2. Foreign corporations. a. Report to be made. Annually during the month of July, each foreign corporation doing business in this state, and owning or using a part or all of its capital or plant in this state, and subject to compliance with all other provisions of law, and in addition to all other statements required by law, shall make a report in writing to the commissioner of revenue in such form as the commissioner may prescribe. Such report shall be signed and sworn to before an officer authorized to administer oaths, by the president, the vice president, secretary, superintendent, or managing agent in this state and forwarded to the commissioner, and shall contain: 1. The name of the corporation and under the laws of what state or country organized. 2. The location of its principal office. 3. The names of the president, secretary, treasurer, and members of the board of directors, with the post office address of each. 4. The date of the annual election of officers. 5. The amount of authorized capital stock, and the par value of each share. 6. The amount of capital stock subscribed, the amount of capital stock issued, and the amount of capital stock paid up. 7. The nature and kind of business in which the company is engaged, and its place or places of business, both within and without the state. 8. The name and location of its office or offices in this state, and the name and address of the officers or agents of the corporation in charge of its business in this state. 9. The value of the property owned and used by the company in this state, where situated, and the value of the property owned and used outside of this state, and where situated. 10. The volume of business done by the company in this state. 11. The volume of business done by the company outside of the state, and where the said business is done. 12. The change or changes, if any, in the above particulars, made since the last annual report. b. Stock assessed. Upon the filing of the report provided for in subsections four, five, and six (subsection 2-a above), the commissioner, from the facts thus reported, and any other facts coming to his knowledge bearing upon the question, shall, on or before the first Monday in September, assess and fix the proportion of the subscribed or issued and outstanding capital stock of the company represented by its property or business in this state, and certify the same to the auditor of the state on or before the first Monday in October. c. Amount of tax. On or before October fifteenth the auditor of state shall charge for collection, as herein provided, annually from such company, in addition to the initial fees otherwise provided for by law, for the privilege of exercising its franchise in this state, a fee of one-tenth of one per cent upon the proportion of the subscribed or issued and outstanding capital stock of the corporation represented by property owned and used for or business transacted in this state as found and certified by the commissioner of revenue, which fee shall not be less than ten dollars in any case. Such fee shall be payable to the treasurer of the state on or before the first day of the following December. No county, city, or town shall have the power to levy any franchise tax under this section. 3. Certain corporations exempt. Nothing in the preceding subsections of this act shall apply to railroads, banks, insurance companies, fraternal, beneficent associations, building and loan associations, express, telephone or telegraph companies, or other corporations, upon which a franchise tax may be levied in other sections of this act. 4. General provisions. a. Findings reviewed. Between the dates herein fixed for the determination of the amount of subscribed or issued and outstanding capital stock of a domestic corporation and the proportion of the authorized capital stock of a foreign corporation, represented by property owned and used or business transacted by it in this state, and the dates herein fixed for the certification to the auditor of state of such amount or proportion, the commissioner of revenue may, on the application of any person or company interested, or on his own motion, review and correct his findings. b. Receipt given. Upon the payment of the tax or fee provided for in this act to the treasurer of state, the treasurer of state shall make out and deliver to the public utility or corporation so paying a receipt for the payment by such public utility or corporation of the tax or fee herein provided for. c. Lien. The fees, taxes, and penalties required to be paid by this act shall be the first and best lien on all property of the public utility or corporation, whether such property is employed by the public utility or corporation in the prosecution of its business or is in the hands of an assignee, trustee, or receiver for the benefit of the creditors and stockholders thereof. 5. Penalties. If a public utility or corporation required to file a report by any provision of this act fails or neglects to make such report as required herein, it shall be subject to a penalty of ten dollars per day for each day's omission after the time limited in this act for making such report. 6. Collection of tax and penalties. Such taxes and fees and penalties thereon may be certified by the state auditor to the sheriff of the county in which any such company has its home office, or of any county in which any such company may own property, for collection as provided in section four, and if collection is not made in this way such taxes or fees and penalties thereon may be recovered by an action in the name of the |