for purposes of taxation by the State Board of Assessment and Equalization, and not otherwise; but property not so used shall be assessed locally. 132 Returns of amount of property and earnings are made to the board, 133 which then assesses the property like that of individuals. In valuing the railroad property the gross and net earnings per mile are considered. 134 The assessment is then distributed to the counties in ratio of mileage.1

135

$639. Tennessee.

Telegraph and telephone companies are also assessed by the State Board on all their property, account being taken of the receipts; 136 and the same method is taken for assessing the property of express and sleeping car companies.137

$640. Texas.

All property of railroad companies, of whatever description, lying or being within the limits of any city or incorporated town within this State, shall bear its proportionate share of municipal taxation. 138 All property of railroad companies shall be assessed and the taxes collected in the several counties in which said property is situated, including so much of the roadbed and fixtures as shall be in each county. The rolling stock may be assessed in gross in the county where the principal office of the company is located, and the county tax paid upon it shall be apportioned by the comptroller in proportion to the distance such road may run through any such county, among the several counties through which the road passes, as a part of their tax assets. 139

132 S. Dak. Polit. Code, § 2183.

133 Ibid. § 2185.

134 Ibid. § 2186.

135 Ibid. § 2187.

136 Ibid. §§ 2194, 2195.

137 Ibid. § 2198.

138 Tex. Const. Art. 8, § 5.

139 Ibid. § 8.

§ 641. Utah.

All property and franchises owned by railroad, street railway, car, depot, telegraph and telephone companies in this State are assessed by the State Board of Equalization, and pay an ad valorem tax.140

§ 642. Vermont.

The Commissioner is to appraise at its fair and just value all property acquired, constructed or used for railroad business or purposes, including the corporate franchise, belonging to any corporation or person owning or operating a railroad located entirely within this State.

Such appraisal shall be taken to be the true value of such railroad, its rights, corporate franchise and property in this State for the purposes of taxation.

If a line of railroad extends beyond the limits of this State, its whole valuation ascertained as aforesaid shall be divided by the number of miles of its entire main line, and the amount thus obtained shall be taken to be the value of said railroad per mile; such sum shall be multiplied by the number of miles in this State and the product thus obtained shall be taken to be the true value of such railroad, its rights, corporate franchise and property within this State, for the purposes of taxation; provided however, that if less than one mile of the main line of a railroad is within this State, the commissioner of State taxes may appraise such portion lying within this State at its fair and just value without appraising that part lying without the State. 141

The property of steamboat, car, and transportation companies shall be appraised, following so far as applicable the provisions relating to the appraisal of the property of railroads, 142

A tax of seven-tenths of one per cent. is hereby annually

140 Ut. Rev. Stat. § 2513.

141 Vt. 1902, Act 20, §§ 12, 13.

142 Ibid. § 24.

assessed upon the appraisal obtained as hereinbefore provided, against each corporation or person so operating a railroad in this State on the 30th day of June preceding such appraisal; 143 one-half of which shall be paid to the State treasurer on or before the 15th day of April following such appraisal and the other half on or before the 15th day of October next ensuing.144 A corporation or person owning or operating a railroad in this State may annually pay to the State in lieu of the tax assessed in the preceding section two and one-half per cent. on its entire gross earnings, if such railroad is situated wholly in this State; if situated partly within and partly without this State then such two and one-half per cent. on gross earnings shall be upon such proportion of such entire gross earnings of such road as the mileage of all trains run in this State bears to the mileage of all trains run on the entire line of such road for each six months' period.145

A corporation or person owning or operating sleeping, palace, or other cars which run upon any of the railroads in this State, and for riding in which extra compensation is charged, shall annually on or before the 15th day of October pay a tax to the State which is hereby assessed at the rate of five per cent. on the entire gross earnings of such cars for business done wholly within this State including all sums received for the use of cars, during the year ending with the last day of June next preceding. 146

A corporation or person, doing express business in this State shall annually on or before the 15th day of October pay a tax to the State, which is hereby assessed at the rate of four per cent. annually on the gross receipts of their business done wholly in this State, during the year ending with the last day of June next preceding.147

143 And so of steamboat, car and transportation companies; ibid. §§ 25, 26. 144 Ibid. § 19.

145 Ibid. § 20. 146 Ibid. § 28. 147 Ibid. § 29.

A corporation or person owning or operating a telegraph line within this State shall pay an annual tax to the State upon the property or corporate franchise of such corporation or person, which is hereby assessed at the rate of sixty cents per mile of poles and one line of wire and forty cents per mile for each additional wire, owned, maintained or operated within this State, during the year ending with the last day of June.

Said corporation or person may in lieu of the tax assessed in the preceding section, annually pay to the State a sum equal to three per cent. of the entire gross earnings of such corporation or person collected within the State on account of telegraphic messages or communications sent or received therein. 148

A corporation or person owning or operating a telephone line within this State shall pay an annual tax to the State which is hereby assessed at the rate of forty cents each upon the average number of telephonic transmitters in use within this State and maintained or operated by such corporation or person during the year ending with the last day of December; and at the rate of thirty cents per mile upon the average mileage of all telephone wires in use, owned, maintained or operated by such corporation or person within this State during the year ending with the last day of December.

Such corporation or person may in lieu of the tax assessed in the preceding section annually pay to the State three per cent. on the entire gross receipts for business done wholly within this State, including all sums received for tolls and for rental of lines, instruments or other appliances, and from any division or apportionment of tolls or rentals. 149

§ 643. Virginia.

Railroads and canals are assessed by the State Corporation Commission, which is to find "the value of the roadbed and other real estate, rolling stock and all other personal property

148 Ibid. §§ 30, 31. 149 Ibid. §§ 33, 34.

whatsoever (except its franchise and the non-taxable shares of stock issued by other corporations) in this State" of each railroad, whatever its motive power, and the similar property of canal corporations; which shall be taxed for State and local purposes like the property of natural persons; "provided, that no tax shall be laid upon the net income of such corporations." 150 In addition to this tax, every such corporation shall pay an annual franchise tax of one per cent. on its gross receipts for the privilege of exercising its franchises within the State. These two taxes shall be in lieu of all taxes or license charges upon the franchise of such corporation, the shares of stock issued by it, and its property, except the registration fee and assessments for local improvements. This tax is in the case of a railroad or canal entirely within the State laid upon the entire gross transportation receipts. In the case of a road or canal partly within and partly outside the State the average receipts per mile for the whole line are to be ascertained, and multiplied by the number of miles within the State; making however, a reasonable deduction "because of any excess of value of the terminal facilities or other similar advantages in other States over similar facilities or advantages in this State." 151

8644. Washington.

Railroad and other public service corporations appear to be assessed like individuals.

§ 645. West Virginia.

Railroad companies make a return showing the number of miles of road within and outside the State; the value of its track; its rolling stock (distinguishing between such as is used wholly within the State and such as is used partly without), with the fair cash value of the rolling stock used wholly within the State, and the proportional value (with relation to the

150 Va. Const. § 176. 151 Ibid. §§ 177, 178.