Investors Premium Corp. v. South Carolina Tax Commission

Littlejohn, Justice:

*16Investors Premium Corporation, the plaintiff herein, brought this action against The South Carolina Tax Commission, defendant, under South Carolina Code of Laws § 65-2662 (1962) to recover documentary stamp taxes paid under protest in the amount of $12,107.62. This amount represents documentary stamp taxes due on notes, executed by various borrowers in favor of plaintiff to procure funds to pay insurance premiums, and due on powers of attorney, executed incident to the notes to assist in collecting in case of default.

The trial judge in his order found that the several…