The Pensacola journal., May 18, 1919, Page 2, Image 2

About The Pensacola journal. (Pensacola, Fla.) 1898-1985

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THE PEWSACOLA JOURNAL, RTTNDAY MORNING, MAY 18, 1919.
LILijJLi &A&Ast,
01
3JECT IS
OF INTEREST
MEASURE WHJCH WOULD APPLY
TO ALL CORPORATIONS, DO
MESTIC AND FOREIGN, NOW UP
TO HOUSE. -
Tallahassee, Fla, May 17. All Flor
ida corporations and foreign corpora
tions as -well win be required to pay
aii annual franchise tax for the priv
ilege of doing business In this state If
a Mil which passed the senate Thurs
day hy a vote of 26 to 3 passes the
house and is approved by -the gov
ernor. Following is the text of the bill:
A Bill to Be Entitled:
An Act, "Prescribing an annual fran
chise tax for domestic and foreign cor
porations and also providing for the
forfeiture of the .charters of domestic
corporations and the cancellation of
permits granted to foreign corpora
tions to do business in this state for
failure to comply with the terms of this
act."
Be It Enacted by the Legislature of
the State of Florida:
Section 1. It shall be the duty of
the president tr vice-president .and the
treasurer or assistant treasurer of
every corporation- organised In this
Slate -and of every foreign corporation
doing business in this etate to file with
the treasurer of this state between
the first .day of September and the
first Iay of October, 1918, and annually
thereafter between said dates, a state
ment of the amount of capital stock"
authorized, the amounts subscribed,
and the amount actually paid in, the
amount of the indebtedness of the
corporation and the proportion of cap
ital stock of said corporation appor
tioned for investment in the state of
Florida in intra-state business as the
same existed on or after the first day
of January preceding the filing of such
statement. A d the state traesurer is
hereby authorized and empowered, and
It shall be his duty to ascertain and
verify the correctness of said state
ments, and should the state treas
ured be not fully satisfied' as to the
amount of the capital stock of said
corporation set forth in said statement
and the proportion of said capital stock
of said corporation apportioned to the
state of Florida,, for investment in
intra-state business, he shall not ac
cept the franchise tax herein provided
for based upon such statement, but
shall report such corporation to th
governor and the secretary of state
v. ho shall likewise Investigate the fac
set forth in said statement required
to be made, and if the said governor,
ine state treasurer, and the
Z Sl&' r a mary of them, are
not f uUy satisfied as to the amount of
taltj capital stock and the proportion
thereof alleged to be apportioned to
the state of Florida in Intra-state i
business as set forth in said statement,
they or a majority of them shall issue
a proclamation declaring such corpora
tion to be operating in violation of
the law and subject to. Uw pea&ttls;
hereinafter provided in section five Of
this' act. and its officer shall be sub
ject to the penalties prescribed by sec
tion three of this act.
Seat ton 2. Every corporation or
ganized , under the laws of this state
and every foreign corporation doing
business in this state except the fol
lowing: companies engaged exclusive
ly in inter-state commerce, national
tacking companies (the said national
tanking companies being exempt front
fctate taxation), banking and trust
trust companies organized under the
laws of any state such banking an.'i
trust companies organized under state
laws being competitors, of national
banking companies), railroad com
panies which are required under ex
isting laws to pay to the state if
Florida a mileage tax; insurance, sure
ty, .ruaranty and fidelity, companies,
sleeping places car and dining car
companies, express companies and any
company which Is now 'required to paj
an annual tax measured by gross re
eiptp, corporations having no capital
stcck and organized for -the exclusive
purpose of promoting the puMic in
terests of any city or town, corpora
tions organized for the purpose of re
ligious worship or to provide places of
burial not for private profit, corpora
tions organized for the purpose of
holding agricultural fairs and for en
couraging agricultural pursuits, or if"
strictly educational purposes or for
ruvely public charity, - shall, on ami
after October -1st, 1919, and annually
thereafter pay a franchise and license
tax on ks charter for . the privilege
of doing business in the state of Flor
ida based on its capital toc3t issut-rt
end outstanding, of fifty (50c) cen's
fer each one thousand ($1,000) dollar
or fractional part thereof of the issup
and outstanding capital , stock of sa'.l
corporation; , provided, however, thi-T
enly the proportion of capital stock
of any corporation doing business in
this state, whether incrporated under
the laws of this state or of another
state, apportioned for investment In
intra-state business in the state of
Florida, shall be subject to the tax
herein and hereby imposed. The tax
hereby levied shall be due and payable
on or before the first day of October
1919, and every year tJ-eafter. Irt
the event of the increase of the capi
tal stock of any domestic or foreign
corporation during the tax year here
in provided for, it shall also pay on
or before the first day of October for
such year, and each year thereafter,
a supplemental franchise tax thereon
of fifty (50c) cents for each one thou
sand ($1,000 dollars increase of the
Issued and outstanding capital stock;
provided, however, the said tax sh?..l
only apply to the proportion ot sucf!
Increased capital stock apportioned to
the state of Florida for investment
In intra-state, business; and. provided.
runner, that; whenever a private do
mestic corporation Is chartered In this
state, it charter tax shall be takor.
and constitute Its franchise tax for the
fiscal year In which lt3 charter Is is
sued; and provided, further, that when
ever a foreign corporation ia authorized
tc do business in this state the feea
paid, by It for obtalnine a permit to
do business under the ' laws of thl
state shall constitute its franchise tax
for the fiscal year In which such per
mit shall be granted.
- Section 9. Every officer of a cor
poration doing business in this state
subject to a tax and required to make
a return as herein provided, who shall
fail to comply with the provisions of
this act shall "for each offense be
guilty of a misdemeanor, and shall be
punished by a fine not exceeding one
hundred ($100.00) dollars or by im
prisonment not exceeding three months.
Section 4. It shall be the duty of
the state treasurer on or before the
first day of January, 1920, and'v an
nually thereafter to report to the sec
retary of state a list of all corporations
paying the tax prescribed by this act
and the amount of the tax prescribed
by this act and the amount Of the
tax paid by each.
s Section 5.. Any corporation failing
to pay its tax on or before January
first, after the same shall . have been
due on October first next preceding,
shall pay double the amount of taxes
specified in this act, and unless such
double tax is paid within one year after
the same has been due and payable,
the charter of any such corporation
organized under the laws of this sta,te
shall be thereby forfeited, or the per
mit of any such foreign corporation
to do business in this state shall ba
thereby annulled and cancelled; ' ex
cept that the corporated existence of
a corporation may be continued for
three years for the purpose, and only
for the purposes as stated in 5lon
1680 of th general statutes of Flor
ida Section . It shall bs the duty of the
secretary of. stats annually to furnish
to the clerk' of the circuit .court of
each county In this state a list of tho
corporations having the principal plac
of business in such county, whose char
ters have been forfeited under the
terms of this act. and Said clerk shall
enter" such list In the corporation book
of surfi county. '
Section 7. All . taxes, assessments,
fines and penalties under this act shall
be paid to the state treasurer, and
the same shall become part of the
general revenue fund of the state to
h ernanliifl onr1lne' tO lSW.
Section 8. The purpose of this act
, - , ... ..u (tm ft ft thu.
is iu impose unijr oum
state of Florida has the power to Im
pose, and this act shall be construed
and enforced with reference to the
limitations imposed by organic law:
any portion hereof that may be Invalid
shall be regarded as eliminated and
the remainder enforced. ; y
Section 9. All laws and parts of
laws . in conflict with this act are
hereby repealed. 5 '
Section 10. This act shall become
effective immediately upon Its becom
mf a law. v-v--v.- . -
ORE THROAT
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water, thea apply '
Wan. Saves Wife
in Hick of Time
Y0Ufc BODYGUARD" -30
ill
aPCMuijm
"My wife was unable to eat even j
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to a livine skeleton. She could not I
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un tne recommendation oi . n ieuu & .
hotizht s. hnttiA of Mavr's Wonderful
Remedy and she is all right now and
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appendicitis. One dose will convince
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macy and Druggists everywhere.
Adv.
ABBOTT AUTO
REPAIR CO.
Palafox and Oreoery Streets
Phone 415
Oas'G oft Field
2 Ooco of Eloofrng
Wfeot Florida
Established 1866
This Agency has paid to its policyholders
about J
FOUR MILLION DOLLARS
BEST COMPANIES BEST SERVICE
Knowles Bros. Agency
' INSURANCE
Also General Agents Equitable Life.
205 South Palafox Street
Phone 22,
Harrington Motor .Co.
P. D. TEAB AUIT, Mgr.
MOBILE PENSACOLVA
105 North Palafox, Phone 601
DEMONSTRATIONS GLADLY GIVEN AT ANY TIME
Ask YdDTO B(Q)Y
When the fighting was thickest
When the fighting was greatest
Whor woo ffoe.B. Am LoggIgT Mo9 II coy: "Se oc right on tho rn
And now, back home in the byways and hidden places where misery always lives,
men, women and children are on the down-grade, she's still "right on the job."
99
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B. S. Hancock, Zone Chairman,
Col. J. L. Hughes, County Chairman
Chas. B. Hervey, City Chairman
E. R. Malone, Zone Treasurer
P. K. Yonge, City Treasurer.
6(S
Ex-Gov. Charles Whitman, National Chairman
Ex-Go v Earl Brewer, Division Chairman
, J. Kirkman Jackson, Div. Treasurer
W. G. Green, Zone Manager.
Capt. Bergren, in charge of Local Army.
IviLsiim
May
Be
Bet
Heveir Oet
99
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