General Motors Acceptance Corp. v. Higgins

CONGER, District Judge.

This is an action to recover $25,000 paid as a documentary stamp tax levied upon certain corporate obligations issued by the plaintiff in 1935. The case was tried without a jury on stipulated facts and certain documents offered in evidence.

It appears that the plaintiff corporation which was engaged solely in the business of providing a financing service for dealers selling products of the General Motors Corporation and the retail customers of such dealers, desirous of funds for financing receivables and for other purposes in its current business, issued in the State of…