State v. Molyneaux

The state appeals from a judgment in a tax proceeding holding a levy of a tax of $30.04 against defendant upon a membership in Minneapolis-St. Paul Stock Exchange void.

The facts are not in dispute. The Minneapolis-St. Paul Stock Exchange is a voluntary- unincorporated association of individuals doing business in rented quarters in Minneapolis. The membership May 1, 1929, when this levy Avas made, consisted of 55 persons, each of whom paid $1,000 to the association Avhen becoming a member. On May 1, 1929, the association OAvned the following property and none other, viz. $7,884 in bank subject…