People Ex Rel. L. N.Y.R.R. Co. v. . Sohmer

The tax imposed by section 182 of the Tax Law is imposed upon a corporation "for the privilege of doing business or exercising its corporate franchises in this state." The tax thus imposed has no relation to the special franchises which such a corporation may enjoy. The special franchises are assessed and taxed by a different method. The tax imposed by section 182 is solely upon the privilege of doing business or exercising its general franchise of the right to be a corporation in this state. The law imposes the tax not on the extent of its business but merely upon the exercise of its general…