Southern Building & Loan Ass'n v. Norman
Court of Appeals of Kentucky
Case 50 — PETITION EQUITY — APPEAL EROM ERANKLIN CIRCUIT COURT. 1.„Sections 4228 and 4229 of the Kentucky Statutes violate section 174 of the Constitution, which was supposed to guarantee absolute equality of taxation. («) The two per cent, exacted of appellant on its gross receipts is in its essentials a taw on its business. A license is a permission to do business in the future, while a tax is an exaction on present values or past business.
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Case 50 — PETITION EQUITY — APPEAL EROM ERANKLIN CIRCUIT COURT. 1.„Sections 4228 and 4229 of the Kentucky Statutes violate section 174 of the Constitution, which was supposed to guarantee absolute equality of taxation. («) The two per cent, exacted of appellant on its gross receipts is in its essentials a taw on its business. A license is a permission to do business in the future, while a tax is an exaction on present values or past business. (Definitions of “License,” Bouvier’s Law Dictionary; Am. & Eng. Enc. of Law.) (-6) The exaction of two per cent, in addition to the tax upon the shares…
1Opinion of the Court
JUDGE HAZELRIGG
delivebed the opinion oe the cotjbt.
This appeal involves the constitutionality of the statute requiring every foreign building and loan association doing ^business in the State to pay into the treasury annually $2 on every $100 of its annual gross receipts. (Kentucky Statutes, (section 4228.)
The law is assailed as being, (1), in violation of section 174 of the State constitution; (2), as impairing the obligation of contracts in existence when the law became operative; (3), as an unwarrantable interference with the freedom of commerce between the States; and (4), as denying to…
2Cases cited11 opinions
- Paul v. VirginiaSupreme Court of the United States · 1869
- Bell's Gap Railroad v. PennsylvaniaSupreme Court of the United States · 1890
- Home Insurance v. New York StateSupreme Court of the United States · 1890
- Philadelphia & Southern Steamship Co. v. PennsylvaniaSupreme Court of the United States · 1887
- Pacific Express Co. v. SeibertSupreme Court of the United States · 1892
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3Cited by9 opinions
- City of Louisville v. SebreeCourt of Appeals of Kentucky (pre-1976) · 1948
- Northwestern Mutual Life Insurance v. Lewis & Clarke CountyMontana Supreme Court · 1903
- Continental Insurance v. SmrhaNebraska Supreme Court · 1936
- Standard Home Co. v. DavisDistrict Court, E.D. Arkansas · 1914
- Western Union Tel. Co. v. NormanU.S. Circuit Court for the District of Kentucky · 1896
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