Perpetual Building & Loan Ass'n v. South Carolina Tax Commission

Moss, Chief Justice:

This action between Perpetual Building and Loan Association of Columbia, the appellant herein, and the South Carolina Tax Commission, the respondent herein, arose out of an attempt on the part of the respondent to require the appellant to pay income tax to the Sate. The appellant prosecutes this appeal from an order of the lower court granting summary judgment, in accordance with Circuit Court Rule 44, in favor of the respondent.

The appellant was organized and chartered as a building and loan association pursuant to the provisions of Section 12-51 et seq., of the 1962 Code…