(a) Bridge, savings banks, mutual loan, building, transportation, construction, and all other companies, corporations, or associations incorporated under the laws of this state, or under the laws of any other state, and doing business in this state, other than the companies, corporations, or associations whose taxation is specifically provided for in this subchapter, shall, through their president, secretary, principal accounting officer, or agent, annually, during the month of July, make out and deliver to the county assessor of the county where the company or corporation is located or doing business a sworn statement of the capital stock setting forth particularly:
(1) The name and the location of the company or association;
(2) The amount of capital stock authorized, and the number of shares into which the capital stock is divided;
(3) The amount of capital stock paid up, its market value, and, if no market value, then the actual value of the shares of stock;
(4) The total amount of all the indebtedness, except the indebtedness for current expenses, excluding from the indebtedness the amount paid for the purchase or improvement of the property; and
(5) True valuation of all tangible property belonging to the company or corporation. The schedule shall be made in conformity to instructions and forms as may be prescribed by the Auditor of State and shall also show in what county the property is situated.
(b) Corporations doing business in this state engaged exclusively in the manufacture of cotton or fiber goods or yards, which is commonly called the textile manufacturing business, having mills located in this state, and other corporations to the extent of their assets invested in textile mills located in this state, shall not be required to comply with the provisions of this section for a period of seven (7) years after the location of its textile mills in this state.
(c) (1) The county assessor shall, annually, at least by June 20, deliver to the president, secretary, accounting officer, or agent of any such company, corporation, or association located in or doing business in the county a notice in writing to return the schedule by July 31 next ensuing.
(2) (A) Any president, secretary, principal accounting officer, or agent of any companies or corporations, upon whom notice shall have been served, willfully neglecting or refusing to make the return by July 31 next ensuing after the delivery of the notice, shall be guilty of a misdemeanor and, upon conviction, shall be fined in any sum not exceeding one hundred dollars ($100) or imprisoned not exceeding three (3) months, or both.
(B) The county assessor shall, from the best information he or she can obtain, make out and enter upon the proper assessment roll a list, with the valuation of all tangible and intangible property belonging to a defaulting company or corporation subject to taxation by the provisions of this section, with fifty percent (50%) penalty.
Section: Previous 26-26-1502 26-26-1503 26-26-1504 26-26-1505Last modified: November 15, 2016