Commonwealth v. Berkshire Life Insurance
Massachusetts Supreme Judicial Court
Contract for the amount of taxes assessed by the Commonwealth in 1864 under the St. of 1864, c. 208, and in 1865 and 1866 under the St. of 1865, c. 283, against the defendant corporation, a mutual life insurance company, chartered by the St. of 1851, c. 140, §§ 2, 4, 6 of which are as follows : § 2. “ There shall be an original guarantee capital stock subscribed to the said corporation, which shall be one hundred thousand dollars, to be divided into shares by the…
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Contract for the amount of taxes assessed by the Commonwealth in 1864 under the St. of 1864, c. 208, and in 1865 and 1866 under the St. of 1865, c. 283, against the defendant corporation, a mutual life insurance company, chartered by the St. of 1851, c. 140, §§ 2, 4, 6 of which are as follows : § 2. “ There shall be an original guarantee capital stock subscribed to the said corporation, which shall be one hundred thousand dollars, to be divided into shares by the corporation, half of which shall be paid in, in money, before the said corporation shall go into operation for the purpose of…
1Opinion of the Court
Foster, J.*
By the statute of 1864, c. 208, §§ 1, 5, a return is required from, and a tax imposed upon, “ every corporation having a capital stock divided into shares; ” which is computed *27on “the excess of the market value of all the stock of each corporation” “over the value of its real estate and machinery.” The return is also required to be made “ by the stock department of stock and mutual insurance companies.” These are companies which under one charter unite two separate branches of business, the stock department doing a stock business, and the mutual deDartment a mutual business, each…
2Cited by21 opinions
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- Boston Elevated Railway Co. v. CommonwealthMassachusetts Supreme Judicial Court · 1942
- Simon v. State Examiners of ElectriciansMassachusetts Supreme Judicial Court · 1985
- Iannelle v. Fire Commissioner of BostonMassachusetts Supreme Judicial Court · 1954
- Holyoke Mut. Fire Ins. Co. v. CommissionerUnited States Tax Court · 1957
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