rental of real estate, and in case of a company deriving profits principally from the sale or use of tangible personal property, such proportion as the average monthly fair cash value of its real estate and tangible personal property situated in this state during its fiscal year next preceding is to the average monthly fair cash value of its entire real estate and tangible personal property during such fiscal year, with no deduction on account of any incumbrance thereon; in case of a corporation deriving profits principally from any other source, including the holding or sale of intangible property, such proportion as its gross receipts in this state for the year ended on the date of the close of its fiscal year next preceding is to its gross receipts for such year within and without the state.

er to compute

Sec. 4. Section 1395 of the general statutes is amended Tax commissionto read as follows: The tax commissioner, on or before tax and notify the first day of July in each year, shall make a list of companies. companies subject to the tax computed upon their net incomes, with the amount apportioned to this state, as provided in section 1394 of the general statutes, and the tax shall be laid on each such company equal to two per centum of such net income, and the tax commissioner shall enter the amount of such tax against the name of each such company, provided in every case the tax shall be not less than twenty dollars. He shall certify to the correctness of such list and said amounts, and deliver a copy thereof to the treasurer, who shall collect such tax in the manner and with the powers provided in the general statutes for the collection of taxes in towns. The tax commissioner shall forthwith mail a statement of the amount of such tax to each such company, but failure to receive such statement shall not excuse non-payment of such tax. Such tax shall be payable on or before the first day of August in such year, and to any sum or sums due and unpaid after the first day of August in any year, after ten days' notice and demand thereof by the treasurer, shall be added the sum of five per centum on the amount of any tax unpaid and interest at the rate of threefourths of one per centum per month upon such tax from the time the same became due, provided, in case of failure to make such return, or in case of false or fraudulent return, the tax commissioner, upon discovery thereof at any time within three years after the same is due, shall make a return of such net income, and the tax computed thereon shall be paid by such company upon notification

lien on property.

Unpaid tax to be of the amount thereof. Such tax, if unpaid, shall constitute a lien upon the real estate of such company within this state, such lien to be in force from the filing for record of a certificate, signed by the treasurer, in the land. records of the town wherein such real estate is situated, until such tax and interest is paid.

Failure to make

or making false

Sec. 5. Section 1396 of the general statutes is amended return, penalty to read as follows: Any company which fails to make any return required by the provisions of chapter 73 of the general statutes, within the time limited therefor, shall be required to pay a penalty of five dollars, which penalty shall be added to the amount of tax assessed against such company and paid to the state treasurer at the time of paying such tax. Any company which shall make any false or fraudulent return with intent to evade payment of such tax, shall be liable to a penalty of not more than one thousand dollars, or in case such company shall be without assets situated in this state, the treasurer of such corporation shall be liable to said penalty, and the amount thereof shall be collected in civil action brought in the name of the state in Hartford county.

Tax commission

er to compute

return made.

Sec. 6. Section 1397 of the general statutes is amended amount when no to read as follows: If such company fails to render any return within three months from the time required for filing the same, the tax commissioner according to the best information obtainable, shall make such return, according to the form prescribed, of the income of such company liable to a tax, and to such amount he shall add fifty per centum of the amount of such tax. The amount so added to the tax shall be collected at the same time and in the same manner as the tax, but if such delinquent company shall have no taxable income as determined by the tax commissioner and shall have no assets in this state, the treasurer of such company shall be fined fifty dollars for each such failure. In case of such failure by a company having assets situated in this state, it shall forfeit two hundred dollars for each such failure. Any company in such default which shall have a taxable net income, but have no assets within this state, any officer thereof shall forfeit to the state twice the amount of the tax which may be assessed against such company for each such failure. Any such forfeiture shall be collected by the attorney-general in a civil action brought in the name of the state. In every case of failure to file a return, the treasurer, should there be no assets in this state, shall be subject to a penalty of not less than fifty dollars, or,

in case of a corporation having assets within the state, such corporation shall be subject to a forfeiture of not less than two hundred dollars.

porate rights for

Sec. 7. Every corporation required to file a report Forfeiture of corwith the tax commissioner by the provisions of chapter failure to make 73 of the general statutes as amended which shall neglect returns. to file the same for two consecutive fiscal years shall be construed to have forfeited its corporate rights and powers, and its existence as a corporation shall be terminated in the manner of termination of such rights and powers by the provisions of section 3456 of the general statutes as amended by the provisions of chapter 151 of the public acts of 1919. A certificate of the tax commissioner lodged in the office of the secretary showing the delinquency of any such corporation shall be prima facie conclusive of such delinquency, and the secretary in each such case of default shall proceed in the manner prescribed in section one of chapter 151 of the public acts of 1919, except that immediately following the lodgment of such certificate by the tax commissioner, the secretary shall notify such corporation, and if such corporation shall fail to file any report due to the state within sixty days from the date of such notice, the secretary shall record in the records of corporations in his office a certificate by him signed showing that the corporate rights and powers of such corporation have been forfeited by reason of such defaults. Each such corporation may be re-instated and the property rights thereof and of the creditors and of all persons concerned shall be protected in the manner provided in section one of said chapter 151. The provisions of this section shall be applicable to corporations which shall have failed to file such reports for the two fiscal years prior to the passage of this act.

Approved, June 24, 1921.