CHAPTER 55. An Act respecting the Taxation of Corporations the Province of Manitoba. [Assented to July 5th, 1900.] ER MAJESTY, by and with the advice and consent of H' the Legislative Assembly of the Province of Manitoba, enacts as follows: 1. This Act may be cited as "The Corporations Taxation Short title. Act." 2. Where the following words appear in this Act, or in the Interpretation Schedule thereto, they shall be construed in the manner hereinafter mentioned unless the context shall require a different construction: [1] "Bank" shall mean and include any corporation or Bank. joint stock company wheresoever incorporated for the purpose of doing a banking business, whether the head office is situated in the Province of Manitoba or elsewhere, and which transacts a banking business in Manitoba, and shall include a Savings Bank. [2] "Private Bank" shall mean any person, or any number Private bank. of persons associated together, transacting and doing a general banking business in the Province of Manitoba. [3] "Insurance Company" shall embrace and include life, Insurance fire, ocean marine, inland transit, accident, plate glass, steam company. boiler and burglary insurance companies, and every guarantee company, wheresoever such companies may be incorporated, whether the head office is situated in the Province of Manitoba or elsewhere, and which transacts business in the Province of Manitoba, but shall not include mutual fire or hail insurance companies [unless where any mutual fire or hail insurance company transacts business on the cash plan] or friendly, fraternal or charitable societies or associations, chartered or licensed by the Dominion of Canada or any of the Provinces thereof, transacting insurance in the Province of Manitoba. (4) "Loan Company" shall embrace and include every loan and every loaning land company within the meaning of "The Foreign Corporations Act," and also every corporation, incorporated company and association, wheresoever incorporated, not being a bank or an insurance company, whose business or one of whose purposes is to lend money at interest either to the public or its own members, whether the head office is in Manitoba or elsewhere, and which so lends money and transacts business in Manitoba. (5) The words "Company," "Joint Stock Company" and Corporation" shall embrace and include every corporrtion, incorporation company and association to which this Act refers and which transacts, or which during the year in respect of which the tax is payable has transacted business in Manitoba, whether now or hereafter incorporated by or under any Statute or Act of a Parliament or of a Legislature, or by Letters Patent or otherwise howsoever, within the territories and dominions of the Crown, or within any foreign country and wheresoever organized and incorporated, and wherever the head office is situated or wheresoever the board of management or executive officers transact the business of the company, and shall also apply to all similar companies, associations or corporations which may be hereafter incorporated for such purposes as aforesaid and which shall do or transact business in Manitoba; and where any such corporation, company or association shall be placed in the hands or control of agents, assignees, trustees, liquidators or receivers or other officers, then to such agents, assignees, trustees, liquidators or receivers or other officers. (6) The words "Company," "Joint Stock Company" and "Corporation" shall further embrace and include an indiviual, a partnership, syndicate or trust where the class or kind of business to which this Act applies is conducted or carried on in Manitoba by such individual, partnership, syndicate or trust, whether the head office or chief place of business of such individual, partnership, syndicate or trust is in Manitoba or elsewhere, but the word individual in this clause shall not apply to an individual merely because of his lending money. (7) "Head office," in the case of companies whose organization and chief executive officers are within Manitoba, shall mean the place where the chief executive officers of the corporation transact its business within the Province. (8) "Head office," in the case of companies whose organization and chief executive officers are without Manitoba, shall mean the office within Manitoba which on the 31st day of December, 1899, was known, or may at any time thereafter be known, as the head office of the company within Manitoba, and in the event of no such office being designated or known as the head office, then the office in Manitoba to which the other offices or agencies in Manitoba made returns, and in case there was no such office upon the date aforesaid, then the office which did the largest business in the Province during the year 1899. In the case of companies or corporations, wheresover incorporated, which may hereafter begin business in Manitoba the head office shall be the office which shall be designated by the company, and notice thereof shall be given to the Provincial Treasurer, and where no such notice is given the head office shall be that office or place of business of the company designated as the head office by an order of the Lieutenant-Governor-in-Council on the recommendation of the Provincial Treasurer. [9] "Head office" in the case of banks whose organization and chief executive officers are without Manitoba shall mean the office within Manitoba which on the 31st day of December, 1899, did the largest business within Manitoba during the year 1899. In the case of banks, wheresoever incorporated, which may hereafter commence business in Manitoba, the head offices thereof shall be designated by the chief executive officers thereof, and notice thereof shall be given to the Provincial Treasurer, and where no such notice is given the head office shall be designated by the Lieutenant-Governor-inCouncil as in the case of companies. pay tax 3. For the purpose of adding to or supplementing the Company to revenues of the Crown in the Province of Manitoba every annually. company, joint stock company, corporation, association, individual, partnership, syndicate or trust herein before described, and being any of the classes of companies or corporations or being an individual, partnership, syndicate or trust hereinafter mentioned or referred to, and which transacts business in the Province of Manitoba under its, his or their name or otherwise or through an agent or agents, shall annually pay to the Crown in this Province each and every year the several taxes by this Act imposed thereon at the times and in the manner hereinafter provided. 1. [a] Every head office of a bank shall pay a tax of eight Banks. hundred dollars. [b] Every such bank shall pay an additional tax of two Bank hundred dollars for each branch office or agency up to and branches. not exceeding four in number. Any number of branches in excess of four and up to and including ten in number shall pay a tax of one hundred dollars each. No branch office or agency tax shall be levied upon for more than one office, branch or agency in any one city, town or village. Private banks. In village centres. 2. [a] Every private bank, other than private banks in village centres in rural municipalities possessing a population of five hundred inhabitants or under, shall pay a tax of two hundred dollars [$200.00]. In village centres as aforesaid private banks shall pay a tax of one hundred dollars [$100.00]. All such banks shall pay an additional tax of twenty-five Branch office. dollars [$25.00] for each branch office or agency in the Province, but no such latter tax shall be levied upon more than one office, branch or agency in any one city, town or village or village centre. Insurance companies. Re-insurance. Loan and 3. [a] Every insurance company which transacts business in the Province of Manitoba shall pay a tax of one per cent., calculated on the gross premiums received by such company in respect of the business transacted in the Province of Manitoba during the preceding year, but in the case of mutual fire or hail insurance companies which receive premiums in cash the tax shall be calculated on the gross premiums received by such companies in cash in respect of the insurance transacted on the cash plan in the said Province during the preceding year. Provided that every company licensed or registered under "The Manitoba Insurance Act," and assessed under the provisions thereof, shall be credited with the payment under said provisions as in reduction of the tax payable under this Act. [b] Where the receipts from premiums of an insurance company, whose head office is elsewhere than in Manitoba, are less than $20,000, and where such company lends money on security and has invested in this Province $100,000 or more, such company shall pay a tax of three-quarters of one per cent, calculated on gross premiums, and one-half of one per cent. on the income from investments received by such company in respect of the business transacted in the Province during the preceding year. [c] In the case of re-insurance by an insurance company, the principal company shall be exempt from the tax imposed by this Act on the portion of the premium paid to the re-insuring company, but the company receiving the premium for re-insurance shall nevertheless be liable for the tax in respect thereof as part of its gross premiums. Where the re-insuring company does not conduct business in Manitoba. or has no principal or head office therein, the principal company shall retain in its hands so much of the said premium as will be equivalent to the tax by this Act, imposed on or in respect of such premium, and shall be liable for the tax and for the payment thereof to the Treasurer of the Province. 4. Every loan and trust company which transacts business in the Province of Manitoba shall pay a tax as follows: [a] Companies with fixed or permanent paid-up capital, $100.00 where the paid-up capital is $100,000 or less, and $75.00 on every additional $100,000 or fraction thereof of paid-up capital, up to a total of $1,500,000 paid-up capital. |