Citizens National Bank v. Commonwealth Ex Rel. Boyle County
Supreme Court of the United States
ERROR TO THE .COURT OF APPEALS OF THE STATE OF KENTUCKY. The facts, which involve the validity of the statute of Kentucky of March 21, 1900, in regard to taxation of shares of stock of national banks, are stated in the opinion.
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ERROR TO THE .COURT OF APPEALS OF THE STATE OF KENTUCKY. The facts, which involve the validity of the statute of Kentucky of March 21, 1900, in regard to taxation of shares of stock of national banks, are stated in the opinion. The interpretation placed on § 3, of the act of March 21, 1900, by the Court of Appeals of Kentucky, not only brings its operation into violation of § 5219, Revised Statutes, but departs from the rule that a statute shall have a prospective operation only, unless its terms show clearly a legislative intent that it shall operate retrospectively. Watts v. Commonwealth,…
1Opinion of the Court
Mr.- Justice Lurton
delivered the opinion of the co.urt.
This was a proceeding under the law of Kentucky to back assess the shares of . stock in the Citizens. National Bank as property omitted from the tax list. ’ After much petitioning, pleading and demurring, and two appedls to-the Court of'Appeals of the State of Kentucky, 1,473 shares were assessed fpr the taxes of 1896, 1897. and 1898, and 990 shares.for the taxes of 1899, with a penalty of twenty per cent addecl to the tax each year. The proceeding under which- this result has been reached was started, in the County Court of Boyle…
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