Cliffs Corp. v. Evatt

The sole matter of inquiry is the amount of franchise tax payable by The Cliffs Corporation for the year 1939.

This excise is regulated by Sections 5495, 5498 and 5499, General Code, which, after being summarized in part and quoted in part, may be applied to the facts without setting the sections out in full.

The tax payable by a domestic corporation organized for profit is a fee of one-tenth of one per cent upon the certified value (or base) for the privilege of exercising its franchise for the calendar year; but in no event is the fee to be less than $25.

Ascertainment of the certified value…