§11-3-12 Assessment of corporate property; reports to assessors by corporations.
§11-3-12. Assessment of corporate property; reports to assessors by corporations.
(a) Each incorporated company, banking institution, and national banking association, foreign or domestic, having its principal office or chief place of business in this state, owning property subject to taxation in this state, except railroad, telegraph and express companies, telephone companies, pipeline, car line companies and other public utility companies, shall annually, between the first day of the assessment year and the first day of October, make a written report, verified by the oath of the president or chief accounting officer, to the assessor of the county in which its principal office or chief place of business is situated or in which such property subject to taxation in this state is located if such corporation does not have a principal office or chief place of business in this state, showing the following items, viz: (1) The amount of capital authorized to be employed by it; (2) the amount of cash capital paid on each share of stock; (3) the amount of credits and investments other than its own capital stock held by it on said date, with their fair market value; (4) the quantity, location and fair market value of all of its real estate, and tax district or districts in which it is located; and (5) the kinds, quantity and fair market value of all its tangible property in each tax district in which it is located.
(b) The oath required for this section shall be substantially as follows, viz:
State of West Virginia, County ..............., ss:
I, ..................., president (treasurer or manager) of (here insert name of corporation), do solemnly swear (or affirm) that the foregoing is, to the best of my knowledge and judgment, true in all respects; that it contains a statement of all the real estate and personal property, including credits and investments belonging to said corporation; that the value affixed to such property is, in my opinion, its value, by which I mean the price at which it would sell if voluntarily offered for sale on such terms as are usually employed in selling such property, and not the price which might be realized at a forced or auction sale; and said corporation has not, to my knowledge, during the sixty-day period immediately prior to the first day of the assessment year converted any of its assets into nontaxable securities or notes or other evidence of indebtedness for the purposes of evading the assessment of taxes thereon; so help me, God.
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The officer administering such oath shall append thereto the following certificate, viz:
Subscribed and sworn to before me by ............... this the .............. day of ...................., 19.......
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(c) The amendments to this section enacted in the year one thousand nine hundred ninety-seven shall be effective beginning tax year one thousand nine hundred ninety-eight and thereafter.