Union Bank & Trust Co. v. Blan

KNIGHT, Justice.

The appellant, having paid under protest the excise tax levied and assessed against it on its net income for the tax year 1932, running from October 1, 1931, to September 30, 1932, for the privilege of engaging in the business of banking, and of conducting a financial business employing moneyed capital coming into competition with the business of national banks, in the state of Alabama, sued the ap-pellee to recover back the money so paid.

This excise tax was levied and assessed against appellant upon its net income for the tax year 1932 by the state tax' commission pursuant to…