Lawrence v. MacFarland

*378As a resalt of a holding of this Court in Evans v. McCabe, 164 Tenn. 672, 52 S.W.2d 159, 617, that a general income tax statute was unconstitutional by reason of the provisions contained in Section 28 of Article 2 of our Constitution that “The Legislature shall have power to levy a tax upon incomes derived from stocks and bonds that are not taxed ad valorem ’ ’, the Legislature enacted what is known as the Hall Income Tax Law. This statute is a limited income tax statute and taxes incomes derived by way of dividends from stocks or by way of interest upon bonds. Section 67-2601 et seq., T.C.A.

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