Rensselaer Republican, Volume 26, Number 3, Rensselaer, Jasper County, 14 September 1893 — Building and Loan Stock to Be Taxed. [ARTICLE]

Building and Loan Stock to Be Taxed.

The State Board of Commissioners Wednesday decided that “paid up” stock in the building and loan associations is an evasion of the tax law; that it wa9 not the design of the law that such stock should be exempt from taxation; and that hereafter it should be taxed the same as any other capital invested in in-terest-paying business. The County Auditors of the State will instructed to make inqiury and place on the duplicate all such paid up shares. It is believed that this "order, if enforced would add considerable sum to the tax duplicate the state over.