Commonwealth Ex Rel. Baldrige v. Sun Oil Co.

Opinion by

Mr. Justice Kephart,

The sole question in this appeal is whether the State may require the treasurer of a foreign corporation that does business here to assess and collect the four-mill loan tax on corporate loans held by residents. The tax is imposed under section 17 of the Act of June 17, 1913, P. L. 507, amended July 13, 1923, P. L. 1085. Section 1 provides for tax on loans by residents where the company does no business here. The court below held that it could.

The Sun Oil Company is a New Jersey corporation, and maintains an office in Camden. It is registered and does business in…