State Tax Commission v. Petroleum Exploration

Opinion op the Court by

Stanley, Commissioner

Reversing’.

In an action brought for the purpose of testing the question, the Franklin circuit court adjudged, that the Petroleum Exploration, a corporation, was not liable for a franchise tax. The state tax commission and the other defendants appeal.

The facts pleaded and admitted by the. demurrer which was overruled, axe these: The Petroleum Exploration is a Maine corporation, and is authorized by its charter to carry on the business of developing and operating oil and gas lands, and of transporting and marketing the products therefrom. About 90 per…