Legal Opinion
First State Bank of Mountainair v. State Tax Commission
New Mexico Supreme Court
Decided June 25, 1936No. 4141PublishedCited by 7 opinions
1Opinion of the Court
ZINN, Justice.
\ [1] Appellee sought a correction of its taxes, proceeding under the provisions of Comp.St.1929 § 141-306. Appellee is a state banking corporation, having a capital stock of $25,000 and a surplus of $5,000. As required by the provisions of Comp. St. 1929 § 141-504, appellee made its return to the state tax commission. Said section 141-504 provides in substance the method of valuing shares of bank stock. The tax in question is assessed against the shareholder, and not against the bank. State v. State Trust & Savings Bank, 31 N.M. 282, 245 P. 253. The bank is merely paymaster for…
2Cases cited2 opinions
- In re the Appeal of the First National BankNorth Dakota Supreme Court · 1898
- State v. State Trust & Savings BankNew Mexico Supreme Court · 1926
3Cited by7 opinions
- Mitchell v. MitchellNew Mexico Court of Appeals · 1986
- Vermejo Club v. FrenchNew Mexico Supreme Court · 1938
- Cutter Flying Service, Inc. v. Property Tax DepartmentNew Mexico Court of Appeals · 1977
- Cutter Flying Service, Inc. v. Property Tax DepartmentNew Mexico Court of Appeals · 1977
- First Nat. Bank v. State Tax CommissionNew Mexico Supreme Court · 1939
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