Bennett v. Evatt

The appeal herein is based solely upon the contention of the appellants that the assessment made is violative of the provisions of Section 2, Article XII of the Constitution of Ohio, in that the tax assessed upon the stock was "in excess of one per cent of its true value in money."

It is conceded that the fair market value in money of the shares of stock in question, on December 31, 1940, was $100 per share. The tax assessed was $1.125 per share, which is in excess of one per cent of the true value.

It is the contention of the Tax Commissioner that, although it is conceded that the tax imposed…