Union Bank & Trust Co. v. Phelps

THOMAS, Justice.

The appellant having paid under protest to the tax collector of Montgomery.-county the tax assessed against the shares of its capital Stock for the tax year 1931-1932, brought this suit to recover the amount so- paid- to said official.

It is the contention of appellant that it was relieved and exempted from the payment of the ad valorem tax assessed against .the shares of its capital stock for the 1931-1932 tax by an act of the Legislature, approved October 22, 1932, entitled:

“An Act to provide for the levy, assessment, payment and collection of an excise' tax for 'the…