Buie v. Commissioners of Fayetteville
Supreme Court of North Carolina
MotioN for an Injunction beard on the 27th of February, 1878, at Carthage, before Moore, J. The plaintiffs are citizens and residents of this State, and owners of a certain number of shares of stock in the Peoples National Bank of Fayetteville, but are not residents of the town of Fayetteville, nor do they carry on any business in said town.
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MotioN for an Injunction beard on the 27th of February, 1878, at Carthage, before Moore, J. The plaintiffs are citizens and residents of this State, and owners of a certain number of shares of stock in the Peoples National Bank of Fayetteville, but are not residents of the town of Fayetteville, nor do they carry on any business in said town. They alleged among other things that the defendant assessed their shares of said stock for municipal taxation, and had authorized the town tax collector, the defendant Mallett, to proceed to collect the same — after his term of office expired — under the…
1Opinion of the CourtSmith, C. J.
In the case of Kyle v. Comm’rs. of Fayetteville, 75 N. C., 445, it is decided that the shares of stock held by non-residents in a national bank can only be taxed in the city or town wherein the bank is located. The decision rests upon the provision in the State constitution by which all property, except such as may be exempted, is required to be taxed, and upon a clause in the act of Congress under which they are formed, permitting the.State to impose upon the shares of stock a tax which shall not exceed that levied upon other moneyed capital in the hands of its own citizens, and restricting…
2Cases cited6 opinions
- National Bank v. CommonwealthSupreme Court of the United States · 1870
- Tappan v. Merchants' National BankSupreme Court of the United States · 1874
- Township of Pine Grove v. TalcottSupreme Court of the United States · 1874
- Adams v. NashvilleSupreme Court of the United States · 1877
- Kyle v. . CommissionersSupreme Court of North Carolina · 1876
1 more not listed; retrieve them via the Exa API.
3Cited by12 opinions
- Person v. . WattsSupreme Court of North Carolina · 1922
- Person v. Board of State Tax CommissionersSupreme Court of North Carolina · 1922
- Belo v. Commissioners of Forsyth CountySupreme Court of North Carolina · 1880
- Board of Commissioners v. Blackwell Durham Tobacco Co.Supreme Court of North Carolina · 1895
- Board of Commissioners v. TaylorSupreme Court of North Carolina · 1888
7 more not listed; retrieve them via the Exa API.