Estate of Shepard

The following opinion was filed February 12, 1924:

Vinje, C. J.

The question to be solved is whether this state can lawfully impose an inheritance tax on the transfer of shares of stock, owned and possessed by a nonresident, in a corporation organized and having its principal place of business in another state, but having property and being licensed to do business in this state.

*91Before proceeding to answer the question it is deemed desirable to state some fundamental and well established principles of law that will serve to delimit the field of inquiry and to act as landmarks pointing out the…