Pennsylvania Act 1868-69 — TAXING - CORPORATIONS, BROKERS AND BANKERS

Act text

AN ACT

To revise, amend and consolidate the several laws taxing corporations, brokers and bankers.

Section 10. Taxation of shares of banks and savings institutions

It shall be the duty of the cashier of every bank and savings institution, incorporated under the laws of this State, to collect annually from every shareholder of said bank or savings institution a tax of one per centum upon the par value of the shares held by said shareholder, and to pay the same into the State Treasury on or before the first day of July in every year; and the said shares shall be exempt from all other taxation under the laws of this Commonwealth. 1868, May 1, P.L. 108, Sec. 10.