New York Ex Rel. Bank of Commerce v. Commissioners of Taxes
Supreme Court of the United States
Error to the Court of Appeals for the State of New York. The Bank of Commerce, a corporation in tbe City of New York, rendered its statement, according to law, to the Tax Commissioners, on which the latter were to fix the sum or valuation of property on which the taxation of the Bank was to be made.
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Error to the Court of Appeals for the State of New York. The Bank of Commerce, a corporation in tbe City of New York, rendered its statement, according to law, to the Tax Commissioners, on which the latter were to fix the sum or valuation of property on which the taxation of the Bank was to be made. By this it appeared that their whole capital was nine millions one hundred and forty-eight thousand four hundred and eighty dollars, ($9,148,480.00). Of this sum three hundred and ninety-two thousand two hundred and fourteen dollars and, oighty-three cents (392,214.83) was invested in real estate,…
1Opinion of the CourtJustice Nelson
This is a writ of error to the Court of Appeals of the State of New York.
The question involved in this case is, whether or not the stock of the United States, constituting a part or the whole of the capital stock of a bank organized under the banking laws of New York, is subject to State taxation. The capital of the bank is taxed under existing laws in that • State upon valuation like the property of individual citizens, and not as formerly on the amount of the nominal capital, without regard to loss or depreciation.
According to ihat system of taxation it was immaterial as to the character or…
2Cases cited2 opinions
- Weston and Others v. the City Council of CharlestonSupreme Court of the United States · 1829
- United States v. PetersSupreme Court of the United States · 1809
3Cited by130 opinions
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- Van Brocklin v. TennesseeSupreme Court of the United States · 1886
- Reading Railroad Company v. PennsylvaniaSupreme Court of the United States · 1873
- Plummer v. ColerSupreme Court of the United States · 1900
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