General Railroad Laws of the State of New York : With Amendments to And Including the Session of the Legislature of 1906. Also Interstate Commerce Acts

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■Property liable to taxation, § 3. All real property within this state, and all personal prop- erty situated or owned within this state, is taxable unless exempt from taxation by law.
*So in original.
Tax Laws Relating to Railroads. 471 § 4. Subdivision 16. Tlie owner or holder of stock in an in- corporated company liable to taxation on its capital, shall not be taxed as an individual for such stock.
See section 243 of this act (not printed herein), as to exemptions not applying to taxable tran
...sfers.
When property of nonresidents is taxable.
§ 7. Subdivision 1. Nonresidents of the state doing business in the state, either as principals or partners, shall be taxed on the capital invested in such business, as personal property, at the place where such business is carried on, to the same extent as if they were residents of the state.
Subdivision 2. The personal property of nonresidents of the state having an actual situs in the state, and not forming a part of capital invested in business in the state, shall be assessed in the name of the owner thereof for the purpose of identification and taxed in the tax district where such property is situated, unless exempt by law.


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