Powell County v. Clay City Nat. Bank

Opinion ok the Court by

Chief Justice Dietzman

Affirming.

Prior to the effective date of chapter 117 of the Acts of 1924, banks, both state and national, doing business in this state, paid upon each $100 of value of their shares to the state and to the county, city, and taxing district in which they were located, a tax at the same rate imposed by the state and such county, city, town, or taxing district upon other personalty therein. See section 4092, Kentucky Statutes, 1922 Edition. By chapter 117 of the Acts of 1924, now section 4092 of the 1930 Edition of the Statutes, there was imposed on…