Hunt v. Eddy

While concurring in the result reached by the decision, I cannot follow the reasoning which the opinion advances to support it.

The purpose of the statute under scrutiny is to effectuate the taxation of shares of stock in foreign corporations at the “intangible tax rate.” It is said that the taxation of such shares at the regular ad valorem rate applicable to property generally leads to widespread concealment and evasion, since such shares cannot profitably be owned if so taxed. And that thereby, the state and local governmental units lose a great deal of revenue. The statute seeks to reach…