Imágenes de páginas
PDF
EPUB

§ 151-152 and lithographing," and its capital is invested in the prosecution of that business, and it manufactures on orders only, it is a manufacturing company within the meaning of the statute.

(Evening Journal Association v. Assessors, 47 N. J. Law, 36; Printing Co. v. Assessors, 51 N. J. Law, 75; see also American Glucose Co. v. State, 43 N. J. Eq., 280; Storage Battery Co. v. Assessors, 60 N. J. Law, 66.)

151. Penalties for false statement, or failure to make statement.

If any officer of any company required by this act to make a return, shall, in such return, make a false statement, he shall be deemed guilty of perjury; if any such company shall neglect or refuse to make such return within the time limited as aforesaid, the state board of assessors shall ascertain and fix the amount of the annual license fee or franchise tax, and the basis upon which the same is determined, in such manner as may be deemed by them most practicable, and the amount fixed by them shall stand as such basis of taxation under this act.

(Section 3 of the Act of April 18, 1884, as amended by Act of March 17, 1892; P. L. 1892, p. 137.)

In People's Investment Co. v. Assessors, 48 Atl. Rep., 579, the Supreme Court held that no penalty is provided for failure to make the return required by the act, and, in the absence of such return, the franchise tax cannot be ascertained by using capital stock authorized as a basis for calculation.

152. Duties and powers of state board of assessors.

The state board of assessors shall certify and report to the comptroller of the state, on or before the first Monday of June in each year, a statement of the basis of the annual license fee or franchise tax as returned by each company to, or ascertained by, the said board, and the amount of tax due thereon respectively, at the rates fixed by this act; such tax shall thereupon become due and payable, and it shall be the duty of the state treasurer to receive the same; if the tax of any company remains unpaid on the first day of July, after the same becomes due, the same shall thenceforth bear interest at the rate of one per centum for each month until paid; the state board of assessors shall have power to require of any corporation subject

to tax under this act such information or reports touching the § 153-154 affairs of such company as may be necessary to carry out the provisions of this act; and may require the production of the books of such company, and may swear and examine witnesses in relation thereto; the comptroller shall receive as compensation for his services under this act and under the act entitled "An act for the taxation of railroad and canal property," approved April tenth, one thousand eight hundred and eighty-four, the sum of five hundred dollars annually.

(Section 5 of the Act of April 18, 1884, as amended by Act of March 17, 1892; P. L. 1892, p. 140.)

153. Tax is a debt; how collected; preferred in case of insolvency.

Such tax, when determined, shall be a debt due from such company to the State, for which an action at law may be maintained after the same shall have been in arrears for the period of one month; such tax shall also be a preferred debt in case of insolvency.

(Section 6 of the Act of April 18, 1884.)

The franchise tax is entitled to priority over liabilities incurred by the Receiver in carrying on the business of the insolvent corporation, but not to priority over the Receiver's allowances and his expenses in winding up the company. (Chesapeake & Ohio Ry. Co. v. Atlantic Transportation Co., 48 Atl. Rep., 997.)

154. Injunction against company in arrears for three months.

In addition to other remedies for the collection of such tax it shall be lawful for the attorney-general, either of his own motion or upon request of the state comptroller, whenever any tax due under this act from any company shall have remained in arrears for a period of three months after the same shall have become payable, to apply to the court of chancery, by petition in the name of the state, on five days' notice to such corporation, which notice may be served in such manner as the chancellor may direct, for an injunction to restrain such corporation from the exercise of any franchise, or the transaction of any business within this state until the payment of such tax and in

§ 155-156 terest due thereon, and the costs of such application, to be fixed by the chancellor; the said court is hereby authorized to grant such injunction, if a proper case appears, and upon the granting and service of such injunction, it shall not be lawful for such company thereafter to exercise any franchise or transact any business in this state until such injunction be dissolved.

(Section 7 of the Act of April 18, 1884.)

When a "proper case" is presented, the Court of Chancery has no discretion, but must issue the injunction. (Electro-Pneumatic Transit Co.'s Case, 51 N. J. Eq., 71.)

155. For failure for two years to pay state tax charter void, unless governor gives further time.

If any corporation heretofore or hereafter created shall for two consecutive years neglect or refuse to pay the State any tax which has been or shall be assessed against it under any law of this state and made payable into the state treasury, the charter of such corporation shall be void, and all powers conferred by law upon such corporation are hereby declared inoperative and void, unless the governor shall for good cause shown to him, give further time for the payment of such taxes, in which case a certificate thereof shall be filed by the governor in the office of the comptroller, stating the reasons therefor.

(§ 1 of the Supplement of April 21, 1896, P. L. 319.)

A company whose charter has been proclaimed by the Governor under this act is within the provisions of Sections 53-60 of the Corporation Act regulating the winding up of corporations. (American Surety Co. v. Great White Spirit Co., 58 N. J. Eq., 526.)

156. Comptroller to report list of delinquents. Governor to issue proclamation declaring repeal of charter.

On or before the first Monday of January, in each year, the comptroller shall report to the governor a list of all corporations which for two years next preceding such report have failed, neglected or refused to pay the taxes assessed against them under any law of this state as above, and the governor shall forthwith issue his proclamation, declaring under this act of the legislature that the charters of these corporations are repealed.

(§ 2 of Supplement of April 21, 1896; P. L. 1896, p. 319, as amended by P. L. 1900, p. 319, P. L. 1901, p. 221.)

157. Proclamation to be filed and published.

The proclamation of the governor shall be filed in the office of the secretary of state, and published in such newspapers and for such length of time as the governor shall designate.

(§ 3 of Supplement of April 21, 1896; P. L. 1896, p. 319.)

158. Penalty for exercising powers under charter after proclamation.

Any person or persons who shall exercise or attempt to exercise any powers under the charter of any such corporation after the issuing of such proclamation shall be deemed guilty of a misdemeanor, and shall be punished by imprisonment not exceeding one year, or a fine not exceeding one thousand dollars, or both, in the discretion of the court.

(§ 4 of Supplement of April 21, 1896; P. L. 1896, p. 319.)

159. Attorney-general may proceed against corporations in arrears; receiver may be appointed.

After any corporation of this state has failed and neglected for the space of two consecutive years to pay the taxes imposed on it by law, and the comptroller of this state shall have reported such corporation to the governor of this state, as provided in said amendatory act, then it shall be lawful for the attorney-general of this state to proceed against said corporation in the court of chancery of this state for the appointment of a receiver, or otherwise, and the said court in such proceeding shall ascertain the amount of the taxes remaining due and unpaid by such corporation to the state of New Jersey, and shall enter a final decree for the amount so ascertained, and thereupon a fieri facias or other process shall issue for the collection of the same as other debts are collected, and if no property which may be seized and sold on fieri facias shall be found within the said state of New Jersey, sufficient to pay such decree, the said court shall further order and decree that the said corporation, within ten days from and after the service of notice of such decree upon any officer of said corporation upon whom service of process may be lawfully made, or such notice as the court shall direct, shall assign and transfer to the trustees

$157-159

§ 160 or receiver appointed by the court, any chose in action, or any patent or patents, or any assignment of, or license under any patented invention or inventions owned by, leased or licensed to or controlled in whole or in part by said corporation, to be sold by said receiver or trustee for the satisfaction of such decree, and no injunction theretofore issued nor any forfeiture of the charter of any such corporation shall be held to exempt such corporation from compliance with such order of the court; and if the said corporation shall neglect or refuse within ten days from and after the service of such notice of such decree to assign and transfer the same to such receiver or trustee for sale as aforesaid, it shall be the duty of said court to appoint a trustee to make the assignment of the same, in the name and on behalf of such corporation, to the receiver or trustee appointed to make such sale, and the said receiver or trustee shall thereupon, after such notice and in such manner as required for the sale under fieri facias of personal property, sell the same to the highest bidder, and the said receiver or trustee, upon the payment of the purchase-money, shall execute and deliver to such purchaser an assignment and transfer of all the patents and interests of the corporation so sold, which assignment or transfer shall vest in the purchaser a valid title to all the right, title and interest whatsoever of the said corporation therein, and the proceeds of such sale shall be applied to the payment of such unpaid taxes, together with the costs of said proceedings.

(§ 5 of Supplement of April 21, 1896; P. L. 1896, p. 320.)

160. Governor may correct mistake when corporation inadvertently reported.

Whenever it is established to the satisfaction of the governor that any corporation named in said proclamation has not neglected or refused to pay said tax within two consecutive years, or has been inadvertently reported to the governor by the comptroller as refusing or neglecting to pay the same as aforesaid, that the governor be and he is hereby authorized to correct such mistake, and to make the same known by filing his proclamation to that effect in the office of the secretary of state.

(§ 6 of Supplement of April 21, 1896; P. L. 1896, p. 321.)

« AnteriorContinuar »