Legal Opinion
Title Guarantee Loan & Trust Co. v. State
Supreme Court of Alabama
Decided May 24, 1934No. 3 Div. 102PublishedCited by 6 opinions
1Opinion of the CourtBouldin, Justice
(after stating the facts as above).
The constitutionality of the statute (Gen. Acts 1932, Ex. Sess., p. 107) is questioned upon the ground that the tax therein levied is actually an income tax; that income is property, and the tax imposed is in excess of the ad valorem tax rate limited by section 214 of the Constitution. Eliasberg Bros. Mercantile Co. v. Grimes, 204 Ala. 492, 86 So. 56, 11 A. L. R. 300.
The act specifically defines the tax levied to be “an excise tax for the privilege of engaging in this State in the business of banking and of conducting a financial institution, as in this Act…
2Cases cited14 opinions
- Educational Films Corp. of America v. WardSupreme Court of the United States · 1931
- MacAllen Co. v. MassachusettsSupreme Court of the United States · 1929
- Pacific Co. v. JohnsonSupreme Court of the United States · 1932
- Eliasberg Bros. Mercantile Co. v. GrimesSupreme Court of Alabama · 1920
- Mills v. Court of Com'rsSupreme Court of Alabama · 1920
9 more not listed; retrieve them via the Exa API.
3Cited by6 opinions
- Title Guarantee Loan & Trust Co. v. HamiltonSupreme Court of Alabama · 1940
- State v. Commercial Loan Co.Supreme Court of Alabama · 1948
- The Morris Plan Co. v. JohnsonCalifornia Court of Appeal · 1940
- Marble Mortgage Co. v. Franchise Tax BoardCalifornia Court of Appeal · 1966
- State v. National Credit Co.Supreme Court of Alabama · 1938
1 more not listed; retrieve them via the Exa API.