State v. P. R. Mallory (Huntsville), Inc.

SIMPSON, Justice.

This is an appeal by the State of Alabama, from a final decree of the Madison Circuit Court, in Equity, wherein an assessment by appellant against appellee for franchise tax for the year 1956 was reduced by that court on appeal by appellee.

Appellee is a foreign corporation organized under the laws of the State of Delaware, doing business in Huntsville, Alabama. Every foreign corporation doing business in this state must pay annually to the state a franchise tax of $2.50 on each $1,000 of the actual amount of capital employed in this state. Section 348, Title 51, Code 1940. ■…