Dallas County v. Home Fire Insurance
Supreme Court of Arkansas
Appeal from Dallas Circuit Court; Henry W. Wells, Judge; statement by the court. The Home Fire Insurance Company filed a petition in the county court of Dallas County, asking to be relieved from an alleged illegal assessment. It alleged that it is an insurance corporation organized under the laws of the State of Arkansas, with its domicil at Fordyee in Dallas County.
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Appeal from Dallas Circuit Court; Henry W. Wells, Judge; statement by the court. The Home Fire Insurance Company filed a petition in the county court of Dallas County, asking to be relieved from an alleged illegal assessment. It alleged that it is an insurance corporation organized under the laws of the State of Arkansas, with its domicil at Fordyee in Dallas County. That the county board of equalization increased the assessed valuation of its capital stock and surplus from $1,000 to $162,500 for the taxes of 1909. That its capital stock is $325,000; that the sum of $317,703.75 of said…
1Opinion of the CourtHart, J.
(after stating the facts). It is agreed by counsel that the only question presented for our determination by the appeal is, did the fact that appellee invested the greater part of its capital stock in the certificates of stock of other corporations in this State and elsewhere exempt both its capital stock so invested and the certificates of stock so purchased from taxation?
On the subject of finance and taxation our Constitution (1874, art. 16) contains the following: “Sec. 5. All property subject to taxation shall be taxed according to its value, that value to be ascertained in such manner as…
2Cases cited4 opinions
- Inhabitants of East Livermore v. Livermore Falls Trust & Banking Co.Supreme Judicial Court of Maine · 1907
- Dallas County v. BanksSupreme Court of Arkansas · 1908
- Hempstead County v. Hempstead County BankSupreme Court of Arkansas · 1905
- City of Atlanta v. Bankers Financing Co.Supreme Court of Georgia · 1908
3Cited by10 opinions
- State ex rel. Norwood v. New York Life InsuranceSupreme Court of Arkansas · 1914
- State ex rel. Attorney General v. Bodcaw Lumber Co.Supreme Court of Arkansas · 1917
- Fort Smith Lumber Co. v. State ex rel. Attorney GeneralSupreme Court of Arkansas · 1919
- State ex rel. Attorney General v. Fort Smith Lumber Co.Supreme Court of Arkansas · 1917
- Gates v. Bank of Commerce & Trust Co.Supreme Court of Arkansas · 1932
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