CHAPTER 47.
OF PUBLIC REVENUE.
AN ACT to Amend Chapter 15, Volume 22, Laws of Delaware being An Act entitled "An Act to Raise Revenue for the State by Taxing Certain Corporations".
Be it enacted by the Senate and House of Representatives of the State of Delaware in General Assembly met, (two-thirds of each branch thereof concurring therein):
Section 1. That Section 4 of said Chapter 15 as printed and published in Volume 22, Laws of Delaware, entitled "An Act to Raise Revenue for the State by taxing certain Corporations", be and the same is hereby amended by striking out all between the word "tax" where it first occurs in the fifty-first line of said section and the word "provided" where it occurs in the fifty-ninth line of said Section and inserting in lieu thereof the following, viz., "for the year 1907 or such portion thereof as the company is in existence at the rate of one-fortieth of one per cent on all amounts of capital actually paid in, up to and including the sum of One Million Dollars and the further sum of thirty dollars per year on each million dollars actually paid in, or any part thereof, in excess of one million dollars; but beginning with the year 1908 and continuously thereafter they shall pay an annual license fee or franchise tax to the State Treasurer for the use of the State as follows, viz; "where the amount of the authorized capital stock does not exceed Twenty-five Thousand Dollars, they shall pay five dollars; where the amount of the authorized capital stock exceeds Twenty-five thousand dollars, but is not more than One Hundred Thousand Dollars, they shall pay Ten Dollars; where the authorized capital stock exceeds One Hundred Thousand Dollars, and is not more than Three Hundred Thousand Dollars, they shall pay Twenty Dollars; where the authorized capital stock exceeds Three Hundred Thousand Dollars and is not more than Five Hundred Thousand Dollars they shall pay Twenty-five Dollars; where the authorized capital stock exceeds Five Hundred Thousand Dollars, and is not more than One Million Dollars, they shall pay Fifty Dollars, and the further sum of Twenty-five Dollars per year on each million dollars or part thereof in excess of one million dollars; provided they shall only be required to pay one-half of the amount of taxes scheduled above in cases where the company shall show in its annual report that it is not engaged in any business, but in no case shall the amount of tax be less than five dollars for any year.'"
Section 2. That all acts and parts of acts inconsistent with the provisions of this act are hereby repealed.
Approved March 29, A. D. 1907.