North Tintic Mining Co. v. Crockett, Secy. of State

Any corporation, foreign or domestic (with certain exceptions not material here), before engaging in business in this state is required by statute to pay an annual license tax computed upon and graduated according to its authorized capital stock. As applied to a corporation whose capital stock is employed in interstate commerce, and whose property represented by its capital stock is in substantial part outside of the state, the statute has been held invalid as resulting in such case in burdening interstate commerce and taxing property beyond the jurisdiction of the state.

The case before us is…