Sec. 10.
All corporations formed under this act shall pay to the treasurer of the state of Michigan an annual tax of 1 per-centum on the whole amount of capital actually paid in, and any investment of the earnings of any such company in their business, shall be considered as so much capital paid in; also, upon all sums of money at any time borrowed by any such company and then remaining unpaid in whole or in part; which tax shall be paid on the first Monday of February in each year, and shall be estimated upon the report of such company for that year, made as required by section 9 of this act; and such tax shall be in lieu of all state taxes upon the real and personal estate of such company.
History: 1851, Act 59, Imd. Eff. Mar. 20, 1851 ;-- CL 1857, 2058 ;-- CL 1871, 2634 ;-- How. 3702 ;-- CL 1897, 6676 ;-- CL 1915, 8776 ;-- CL 1929, 11672 ;-- CL 1948, 484.160
Structure Michigan Compiled Laws
Chapter 484 - Telephone, Telegraph, and Radio
Act 59 of 1851 - Telegraph Companies (484.151 - 484.172)
Section 484.151 - Telegraph Companies; Incorporators.
Section 484.152 - Telegraph Companies; Certificate of Organization, Contents, Filing.
Section 484.153 - Body Corporate; Certified Copy of Certificate as Evidence.
Section 484.154 - Power to Hold Realty; Officers and Agents; Rules and By-Laws.
Section 484.155 - Telegraph Lines; Construction, Restrictions.
Section 484.156 - Aggrieved Property Owner; Remedy, Procedure.
Section 484.157 - Injury to Line; Penalty.
Section 484.158 - Stockholder's Liability for Corporate Debts; Contribution.
Section 484.159 - Annual Report; Contents; Failure to Make, Liability of Directors.
Section 484.160 - Annual Tax; in Lieu of Other State Taxes.
Section 484.161 - Shares of Stock; Status as Personalty, Transfer, Purchase in Other Corporations.
Section 484.163 - Books; Inspection, Use as Evidence; Penalty, Forfeiture.
Section 484.164 - Transmission of Dispatches; Penalty.
Section 484.165 - Transmission of Dispatches; Order of Transmission; Penalty.
Section 484.166 - Divulging Contents; Willful Failure to Transmit; Penalty, Civil Liability.
Section 484.167 - State's Lien for Taxes; Sale; Surplus.
Section 484.168 - Amendment or Repeal of Act.
Section 484.169 - Immediate Effect.
Section 484.170 - Appraisal of Damages; Lands in More Than 1 County.
Section 484.171 - Appraisal of Damages; Contiguous Lands of Same Person.
Section 484.172 - Amendment to Articles; Filing, Recording, Use of Certified Copy as Evidence.