Montclair Military Academy v. State Board of Assessors

The opinion of the court was delivered by

Collins, J.

“An act to provide for the imposition of state taxes upon certain corporations and for the collection *517thereof,” approved April 18th, 1884, and its supplements (Gen. Stat., p. 333,5 et seq.), direct that all corporations incorporated under the laws of this state and not therein before provided for “shall pay an annual license fee or franchise tax of one-tenth of one per centum on all amounts of capital stock issued and outstanding up to and including the sum of three million dollars; * * * provided, that this act shall not apply to * * *…