98 THE FISCAL PROBLEM IN MISSOURI 
In applying the tax to banks, deposits are regarded as 
funds of the individual depositor left for safe keeping and do 
not enter into the tax base. Express companies are not sub- 
ject to the tax; nor are foreign insurance companies, which 
pay a tax on their gross premium receipts in the state. Cor- 
porations not organized for profit are also exempt. 
An annual registration fee is also required of corporations. 
The amount of the fee depends on the month in which it is 
paid. If paid by July 31,1t is $5.00. - After July 31 the fee is 
increased by $5.00 for each month until the end of the year. 
The maximum is, therefore, $35.00 for corporations remitting 
in December. 
The State of Missouri levies a special tax on foreign insur- 
ance companies. All insurance companies and associations 
not organized under the laws of Missouri are required to pay 
an annual tax! on the premiums received in the state or on 
account of business done in the state. The rate is 29, and 
the tax is in lieu of all other taxes, except that cities having a 
population in excess of 100,000 are given authority to im- 
pose an occupation license tax? on the agent or agents of such 
companies. The receipts from the foreign insurance com- 
pany tax are divided equally between the revenue fund of 
the state, and the fund known as the county foreign insur- 
ance tax fund? The latter is used for state aid purposes, and 
the apportionment is made to the several counties on the 
basis of school enumeration. 
Express companies are subject to an annual tax on the 
gross receipts’ from business transacted within the state 
during the tax year, which for the purpose of this tax begins 
April 1 and ends March 31. They are not subject to the 
income tax, the franchise tax, or the annual registration fee. 
The gross receipts tax may therefore be regarded as in lieu of 
these other taxes. The rate of tax is $2.50 per $100 of gross 
receipts from business transacted in the state during the tax 
year. 
1R. 8. 1919, Sect. 6387. 
ZR. 8. 1919, Sect. 6392. Only one tax may be imposed on a single company, and 
the maximum rates are fixed by this statute. 
2R.S. 1919 Sect. 6388. ¢R.S. 1919, Sect. 6390, SR. S. 1919, Sect. 13055.