Montana Bank v. Casey

THE HONORABLE ERNEST E. FENTON (District Judge):

*105In the court below the respondent taxpayer had judgments for the recovery of corporation license taxes paid under protest. Two appeals have been taken, involving taxes for different years, but since the issues are identical the two appeals have been consolidated.

The tax in question is that portion of the corporation license computed upon net income represented by interest and amortization of premium on United States government bonds. In its brief the respondent taxpayer “admits that the legislature could have included the interest on U. S.…