Farwell, Ozmun, Kirk, & Co v. Wallace
North Dakota Supreme Court
Appeal from district court of Burleigb County, J. M. Hanley, Special Judge. The credits, whether secured or unsecured, owing to the plaintiffs from debtors residing in North Dakota, have no taxable situs in North Dakota and are beyond the taxing power of the state, and in so far as the laws attempt to impose such a tax they are in violation of the clue process clause and the contract clause of the Federal Constitution.
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Appeal from district court of Burleigb County, J. M. Hanley, Special Judge. The credits, whether secured or unsecured, owing to the plaintiffs from debtors residing in North Dakota, have no taxable situs in North Dakota and are beyond the taxing power of the state, and in so far as the laws attempt to impose such a tax they are in violation of the clue process clause and the contract clause of the Federal Constitution. State Tax on Foreign-Held Bonds, 15 Wall. 300; Walker v. Jack, 88 Fed. 576; New Orleans v. Stempel, 175 U. S. 309; Bristol v. Washington County, 177 TJ. S. 133; Metropolitan L.…
1ConcurrenceGrace, J.
The laws mentioned in the case of Capital Trust & Sav. Bank v. Wallace, post, 182, 177 N. W. 440, as having been repealed, with the exception of chap. 222 of the Laws of 1919, which are the same laws involved in this case, and by reason of the repeal of such laws, as above mentioned, and the reasons stated in my opinion, in the case of Capital Trust & Sav. Bank v. Wallace, I concur in the result arrived at by the opinion of the court, but do not concur in all the reasoning contained in such opinion, by which the result is reached.
2Cases cited1 opinion
- Capital Trust & Savings Bank v. WallaceNorth Dakota Supreme Court · 1920