thorized capital stock of the company or corporation. For the purpose of the taxes prescribed to be paid on the filing of any certificate, or other paper, relating to corporations, and of franchise taxes prescribed to be paid by corporations to the state, but for no other purpose, such shares (i. e., stock without nominal or par value) shall be taken to be of the par value of $100 each. For issuing each certificate of incorporation, $5. For receiving and filing an acceptance of the provisions of the Constitution on the part of an incorporated company, and issuing certificate thereof, $3. Fees to county clerk: For filing and indexing articles of incorporation, $2.50. For recording articles of incorporation, 20 cents per folio. (c) Franchise taxes All domestic corporations and all foreign corporations (except insurance companies) hereafter engaging in any business. in this state, before engaging in or continuing to transact business, after the 15th day of November, 1915, shall procure a certificate from the Secretary of State of this state, authorizing such corporation to engage in or to continue to transact its corporate business within this state, and each of the corporations aforesaid, not coming within the exceptions hereinbefore stated, shall pay to the Secretary of State a corporation license tax as follows: All corporations with an authorized capital stock of $10,000 or less, $5; with an authorized capital stock of more than $10,000, and not to exceed $25,000, $10; with an authorized capital stock of more than $25,000, and not to exceed $50,000, $15; with an authorized capital stock of more than $50,000, and not to exceed $75,000, $20; with an authorized capital stock of more than $75,000, and not to exceed $100,000, $25; with an authorized capital stock of more than $100,000, and not to exceed $150,000, $35; with an authorized capital stock of more than $150,000, and not to exceed $200,000, $40; with an authorized capital stock of more than $200,000 and not to exceed $250,000, $50; with an authorized capital stock of more than $250,000, and not to exceed $300,000, $60; with an authorized capital stock of more than $300,000, and not to exceed $400,000, $70; with an authorized capital stock of more than $400,000, and not to exceed $500,000, $80; with an authorized capital stock of more than $500,000, and not to exceed $600,000, $90; with an authorized capital stock of more than $600,000, and not to exceed $700,000, $100; with an authorized capital stock of more than $700,000, and not to exceed $800,000, $110; with an authorized capital stock of more than $800,000, and not to exceed $900,000, $120; with an authorized capital stock of more than $900,000, and not to exceed $1,000,000, $125; with an authorized capital stock of more than $1,000,000, and not to exceed $1,500,000, $150; with an authorized capital stock of more than $1,500,000, and not to exceed $2,000,000, $175; with an authorized capital stock of more than $2,000,000, and not to exceed $3,000,000, $200; with an authorized capital stock of more than $3,000,000, and not to exceed $4,000,000, $225; and with an authorized capital stock of more than $4,000,000, $250: Provided that the provisions of this section shall not apply to insurance companies, to religious, charitable, benevolent, and educational organizations, to corporations not organized for pecuniary profit, or to water, canal, or irrigation companies furnishing water for culinary and domestic purposes, exclusively to stockholders, or to lands owned exclusively by members thereof, or to water users' associations organized to comply with the rules of the United States Reclamation Service, or to any cor porations operated by federal control during the continuance of such control. For the purpose of franchise taxes prescribed to be paid to the state by corporations, each share of non-par value stock shall be taken to be of the par value of $100. 10. Foreign corporation taxes (a) In general Foreign corporations are subject to general property taxes, as above, on property in the state, and to entrance and annual franchise taxes. (b) Entrance fees Fees to county clerk: Filing certified copy of charter, $2.50; filing by-laws, 50 cents; filing appointment of process attorney, 50 cents; filing acceptance of Constitution, 50 cents; for certifying papers (per page), 30 cents. Fees to Secretary of State: Filing certified copy of charter, 25 cents on each $1,000 of authorized capital; filing acceptance of Constitution, $3; filing appointment of agent, $1; issuing certificate of compliance, $5. (c) Annual franchise taxes See No. 7 (c) above. (d) Taxes against owner of stock in foreign corporations Stock in foreign corporations held by residents of Utah is taxable. 11. Taxation of trusts and beneficiaries Trust estates are assessed to the party in whose possession or control they are on the 1st day of January. VERMONT (Revised to May 15, 1922) 1. General features of tax system Vermont's revenue system is a combined general property and poll tax, supplemented for state purposes by a series of special corporation taxes and an inheritance tax. The general property tax is in the main administered by the towns, and each town is held responsible in its corporate capacity for its share of state and county taxes. The peculiar feature of the Vermont system is the "grand list." This was originally a list of polls, property, occupations, and incomes; each item being "set in the list" at an arbitrary valuation, the endeavor being made by these arbitrary values to represent the relative "faculty" or ability to pay taxes arising from each item. Eventually the endeavor was made to bring these arbitrary values into some relation to actual values. In so doing, incomes and the valuations of different occupations were dropped, and polls and property retained. The listers of each town appraise property at its value and set the same in the grand list at 1 per cent. of the appraisal. Polls are set in the grand list at $1 and women between 21 and 70 years of age are assessed for poll tax as well as men. The grand list is composed of these two items. State and municipal taxes are assessed on this grand list. A direct state tax is assessed at the present time 40 cents upon the dollar of the grand list. State school and state highway taxes are annually paid by each town to the state treasurer, and are reSEARS MIN.TAXES-38 distributed in a manner that is intended to relieve to some extent the tax burdens of the poorer towns. Public utility corporations, insurance companies, savings banks, and similar institutions are subject to the payment of taxes and fees to the state. 2. Where pamphlet copies of tax laws, etc., may be secured Pamphlet copies of the General Corporation Laws of the State of Vermont may be obtained by addressing the Secretary of State, Montpelier. 3. State taxing officials Commissioner of Taxes, Montpelier, Vermont. 4. Income tax There is no income tax in Vermont. 5. General property tax The poll tax constitutes an integral part of the general property tax, and cannot be described separately. Polls are "set in the list" at $1 each; that is, given a valuation of $1, as though property. (a) Base The base is the so-called "grand list," composed of (a) the polls of all male inhabitants of the state over 21 and under 70 years of age, except honorably discharged soldiers of the War of the Rebellion (provided they claim the exemption in writing at the time that the grand list is being made up), paupers, and members of the state militia and of fire companies, if their towns so vote, which polls are "set in the list" at the ar |