Summary |
This subject was considered by the Legislature of 1899, prior to the organization of the Tax Commission. At that session, after extended debate, radical changes were made in the law, and thereby the amount of revenue to be paid annually by insurance companies was greatly increased over the amount required under the law which had theretofore been in force, without change, for some twenty years.
The Act of 1899, known as the Orton law (Chapter 326), was amended by Chapter 21, Laws of 1901. The chief purpose of such amendment was to relieve domestic companies (those organized under Wisconsin laws) from the effect of retaliatory laws in other states without reducing the aggregate revenue to accrue from taxation of life companies.
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