Faxton v. McCosh
Supreme Court of Iowa
Appeal from Scott District Court. The facts are stated in tbe opinion of the court. The power does not exist in the legislature to levy or cause to be levied a tax on persons and property, when both are out of the jurisdiction of the State, and beyond its territorial limits. 1. The stock in a-roalroad corporation is personal property, and attaches to the person of the owner.
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Appeal from Scott District Court. The facts are stated in tbe opinion of the court. The power does not exist in the legislature to levy or cause to be levied a tax on persons and property, when both are out of the jurisdiction of the State, and beyond its territorial limits. 1. The stock in a-roalroad corporation is personal property, and attaches to the person of the owner. Rev. Stat. of New York, (where plaintiff resides); Tit. 1, § 3 (4th ed.) Angelí & A. Corp. 4th ed., § 458; Union Bank of Tennessee v. The State, 9 Yerger, 490; Redfield on Railways, 38; Ilowev. Starkweather, 17 Mass.,…
1Opinion of the CourtBaldwin, J.
Eaxton, the complainant, being a non-resident of the State, is the owner of certain shares of stock in the M. & M. R. R. Co., a corporation created by the Legislature of this State, its Eastern terminus being within the city of Davenport, in Scott County, its property within the jurisdiction of the State. The said shares of the complainant were listed, assessed and taxed by the proper authorities of said county, and defendant a3 treasurer and collector authorized to collect the same. T.he complainant by his bill in chancery, seeks to enjoin the defendant from the collection of said taxes. The…
2Cases cited1 opinion
- M'culloch v. State of MarylandSupreme Court of the United States · 1819
3Cited by12 opinions
- Case of the State Tax on Foreign-Held Bonds. Railroad Company v. PennsylvaniaSupreme Court of the United States · 1873
- Iowa Homestead Co. v. Webster CountySupreme Court of Iowa · 1866
- Estate of Culver v. GouldSupreme Court of Iowa · 1909
- Judy v. BeckwithSupreme Court of Iowa · 1908
- City of Dubuque v. C. D. & M. R.Supreme Court of Iowa · 1877
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