Darnell v. Indiana
Supreme Court of the United States
ERROR TO THE SUPREME COURT OF THE STATE OF INDIANA. The facts, which involve the constitutionality under the commerce clause of certain sections of the tax statutes of Indiana, are stated in the opinion. The taxing statutes of Indiana, as construed by the courts of that State, violate the commerce clause of the Federal Constitution. Shares of stock in a corporation are property.
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ERROR TO THE SUPREME COURT OF THE STATE OF INDIANA. The facts, which involve the constitutionality under the commerce clause of certain sections of the tax statutes of Indiana, are stated in the opinion. The taxing statutes of Indiana, as construed by the courts of that State, violate the commerce clause of the Federal Constitution. Shares of stock in a corporation are property. The owner of such’ shares owns and holds them as property separate and distinct from the capital stock'and tangible property of the corporation. Sewürd v. Rising Sun, 79 Indiana, 351; Darnell v. State (Ind.), 90 N. E.…
1Opinion of the CourtJustice Holmes
This is an action brought by the State of Indiana for taxes on stock of a Tennessee corporation owned by the principal defendant. The Indiana statutes purport to tax all shares in foreign corporations except national banks owned by inhabitants of the State, and all shares in domestic corporations when the property of such corporations is not exempt or is not taxable to the corporation itself. If the value of the stock exceeds that of the tangible taxable property this excess also is taxed. Burns’ Indiana Stats., 1908, §§ 10143,10233,10234. The declaration was demurred to on the ground that…
2Cases cited9 opinions
- Lindsley v. Natural Carbonic Gas Co.Supreme Court of the United States · 1911
- New York Ex Rel. Hatch v. ReardonSupreme Court of the United States · 1907
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- Spraigue v. ThompsonSupreme Court of the United States · 1886
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3Cited by62 opinions
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