Bulkeley's Appeal From the Board of Relief
Supreme Court of Connecticut
Application in the nature of an appeal from the refusal of the board of relief of the city of Hartford to reduce the assessors’ valuation upon certain shares of stock, taken to the Superior Court in Hartford County and tried to the court, Shumway, J.; facts found and judgment rendered affirming the action of the board of relief, and appeal by the taxpayers.
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Application in the nature of an appeal from the refusal of the board of relief of the city of Hartford to reduce the assessors’ valuation upon certain shares of stock, taken to the Superior Court in Hartford County and tried to the court, Shumway, J.; facts found and judgment rendered affirming the action of the board of relief, and appeal by the taxpayers. This is an application to the Superior Court under § 3860 of the Revision of 1888 (Rev. 1902, § 2354), claiming equitable relief from an alleged illegal assessment of taxes. The applicants, hereinafter called plaintiffs, are shareholders…
1Opinion of the CourtHamersley, J.
The trial court correctly ruled that the word "capital,” as used in § 8836 of the Rev. of 1888, describes the surplus over its liabilities, representing the fund in which the shareholder is equitably interested and to which he would look for his final dividend were the company to be wound up. Patterson v. Hartford, 50 Conn. 558, 561; Batterson's Appeal, 72 id. 374, 376; Barrett's Appeal, 75 id. 280, 281. Taxing a corporation upon the market value of real estate owned by it, and taxing individual shareholders upon the market value of the shares owned by them, is not strictly double taxation.…
2Cases cited3 opinions
- Batterson v. Town of HartfordSupreme Court of Connecticut · 1883
- Barrett Appeal From Board of ReliefSupreme Court of Connecticut · 1900
- Barrett Appeal From Board of ReliefSupreme Court of Connecticut · 1902
3Cited by2 opinions
- Roberts v. Automobile InsuranceSupreme Court of Connecticut · 1915
- Smith v. CommissionerUnited States Tax Court · 1966