MISSISSIPPI LEGISLATURE

1997 Regular Session

To: Ways and Means

By: Representative Williams

AN ACT TO AMEND SECTION 27-35-303, MISSISSIPPI CODE OF 1972, TO AUTHORIZE THE STATE TAX COMMISSION TO GRANT EXTENSIONS OF TIME FOR THE FILING OF CERTAIN SCHEDULES BY TAXPAYERS FOR THE PURPOSE OF AD VALOREM TAX ASSESSMENT OF RAILROADS AND OTHER PUBLIC SERVICE CORPORATIONS; TO AMEND SECTION 27-35-509, MISSISSIPPI CODE OF 1972, TO AUTHORIZE THE STATE TAX COMMISSION TO GRANT EXTENSIONS OF TIME FOR THE FILING OF CERTAIN STATEMENTS BY TAXPAYERS FOR THE PURPOSE OF AD VALOREM TAX ASSESSMENT OF TRANSPORTATION COMPANIES OPERATING OR FURNISHING RAILROAD CARS; AND FOR RELATED PURPOSES. 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:

SECTION 1. Section 27-35-303, Mississippi Code of 1972, is amended as follows:

27-35-303. (1) Each person, firm, company or corporation owning and/or operating a railroad, oil or gas pipeline company, electric company or any other company listed in Section 27-35-301, owning property not situated wholly in one (1) county; and any telephone company owning property in more than six (6) counties shall, on or before the first Monday in April in each year, file with the State Tax Commission a complete schedule, under oath, on forms prescribed and furnished by the State Tax Commission, of all its property, real or personal, taxable and nontaxable, owned by it on the first day of the preceding January, setting forth therein the value of the whole, the total amount of capital stock, its par value and its actual value, and the value of its franchise, the gross amount of receipts in the year preceding; all real, personal or mixed property belonging to the company within the state, not enumerated, with its value; a list of all lands in this state owned, describing the same and giving the value thereof, the gross amount of receipts the year preceding earned within and from this state; and if any of said property is claimed to be exempt from taxation, it shall be separately stated and valued, and the law cited under which the claim is made. It shall not be necessary that a rendition on any motor vehicles be made as defined by the "Motor Vehicle Ad Valorem Tax Law of 1958". In addition to these required schedules, the State Tax Commission may require each person, firm, company or corporation to file with the State Tax Commission a copy of any annual report or form required to be filed by him with any federal regulatory agency. The State Tax Commission may grant an extension of up to thirty (30) days for the filing of the schedules required by this section.

(2) The State Tax Commission shall have the power to adopt, amend or repeal such rules and regulations as necessary to implement tax duties assigned to it in this section.

SECTION 2. Section 27-35-509, Mississippi Code of 1972, is amended as follows:

27-35-509. Every company as above defined doing business or owning cars which are operated in this state, shall, annually, on or before the first day of April, in each year, make out and deliver to the State Tax Commission a statement, verified by oath of an officer or agent of such company, making such statement, showing as of the first day of January, of the year in which the statement is rendered, the following:

(1) The name of the company.

(2) The nature of the company, whether a person, firm, partnership, company, association or corporation, and under the laws of what state organized.

(3) The location of its principal office, or place of business.

(4) The name and post-office address of its president, secretary, treasurer, auditor, other principal officers.

(5) The name and post office address of the principal officer or managing agent of the company in Mississippi, if any.

(6) The aggregate number of miles traveled within the State of Mississippi by its cars during the preceding calendar year and the aggregate number of miles over each railroad in the state; and the total number of miles traveled by its cars during the preceding calendar year wherever operated.

(7) The average number of miles traveled by the cars of each class of its cars during the preceding year. The number of cars necessary for the mileage traveled within the State of Mississippi, under the circumstances that ordinarily attend the use of such cars, and where different classes of cars are used by said company, as to the matters embraced in this and the preceding paragraph, it shall furnish the required information as to each class of said cars on the forms prescribed and furnished by the State Tax Commission.

(8) The actual cash value on the first day of January next preceding, of the said number of cars necessary to provide for the mileage to be reported as required by paragraph 6 of this section.

(9) The real estate, personal property, structures, machinery, fixtures, and appliances, owned by said company, within the state, and the location and the actual value thereof, and in what county, municipality, road district, school district or other taxing district where the same was located on the first day of January next preceding.

The State Tax Commission may grant an extension of up to thirty (30) days for the filing of the statements required by this section.

SECTION 3. This act shall take effect and be in force from and after July 1, 1997.