Bonham & Young Co. v. Martin

Quinn, President.

Petitioner filed appeals for the years 1938 and 1939 from corporation franchise taxes assessed against it for said years by the State Tax Commissioner, which appeals are disposed of herewith together upon a showing of the same fact situation for each year. The claim is for cancellation of the taxes upon the ground of a right of exemption under R. S. 54:13-7, vested in petitioner as an “* * * agricultural * * * corporation at least fifty per cent, of whose capital stock issued and outstanding is invested in * * * agricultural * * * pursuits carried on within this state * *

The…