Sucesión Pedro Giusti, Inc. v. Tax Court of Puerto Rico

The question presented is whether shares of stock of a domestic corporation in the hands of its stockholders are subject to our property tax.

We granted the petition for certiorari of Sucesión de Pedro Giusti, Inc., a domestic corporation, to review the decision of the Tax Court upholding the determination by the Treasurer that it must pay for 1945-46 a property tax of approximately $3,800 on stock of other domestic corporations which the taxpayer owned on January 15, 1945 and which were valued at approximately $140,000.

Shares of stock are subject to the property tax in the hands of…