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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 br Tonaintis, gargle with warm salt water, thea apply ' Wan. Saves Wife in Hick of Time Y0Ufc BODYGUARD" -30 ill aPCMuijm "My wife was unable to eat even j the lightest food, and had fallen away to a livine skeleton. She could not I even keep doctor's medicine on her stomach and was tortured with pain. un tne recommendation oi . n ieuu & . hotizht s. hnttiA of Mavr's Wonderful Remedy and she is all right now and has gained forty pounds." It is a sim ple, harmless preparation that removes the catarrhal mucus from the intersti nat tract and allays the Inflammation which' causes practically all stomach, liver and intestinal ailments, ' Including appendicitis. One dose will convince or money refunded. Crystal Phar 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 where TUT ij.HliH(xniIii IL y 6Slt?BV!f ft?9 vation Arm j Some Service Feed lay . U 1 ay 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 THIS SPACE CONTRIBUTED BY