Houston Belt & Terminal Ry. Co. v. Clark

TAYLOR, Commissioner.

In 1907 the first called session of the 30th legislature, Acts 1st C.S. p. S02, passed an act prescribing franchise taxes to be paid by private, domestic and foreign corporations for the exercise of the privilege of doing business within this state. In 19-19 the act was amended by the 36th legislature at its regular session (Acts 1919, p. 100) to meet the defect in the original act in requiring domestic corporations having a permit to do business outside of the state to pay franchise taxes upon its entire authorized capital stock, plus the surplus and undivided profits of…