Turco Paint & Varnish Co. v. Kalodner

Opinion by

Mr. Chief Justice Kephart,

■ This case is here on original jurisdiction to restrain the operation of the act approved May 16, 1935, called the Corporate Net Income Tax Act. This so-called income tax was designed to levy a tax on business associations, foreign and domestic, for the privilege of doing business in the State. It was intended to reach corporations doing business wholly within the State and those doing business partly within and partly without the State. The amount of the tax to be collected is measured by 6% of the net earnings or profits gained within the State during…