Woodworth & Co. v. Concord
Supreme Court of New Hampshire
Petition, for an abatement of taxes assessed upon the plaintiffs’ stock in trade on April 1, 1912. Transferred from the April term, 1915, of the superior court by Chamberlin, J. The stock in trade was assessed at $60,000. The merchandise wa's of the'value of $35,733, the fixtures were worth $1,500, and the accounts receivable were in excess of $50,000. The court ruled that the tax on a sum in excess of $35,000 should be abated, and that the phrase “stock in trade” in the…
Read the full summary
Petition, for an abatement of taxes assessed upon the plaintiffs’ stock in trade on April 1, 1912. Transferred from the April term, 1915, of the superior court by Chamberlin, J. The stock in trade was assessed at $60,000. The merchandise wa's of the'value of $35,733, the fixtures were worth $1,500, and the accounts receivable were in excess of $50,000. The court ruled that the tax on a sum in excess of $35,000 should be abated, and that the phrase “stock in trade” in the taxation statute does not include “the original capital, the surplus, fixtures, horses and wagons, book accounts, notes…
1Opinion of the CourtPlummer, J.
The plaintiffs claim that their stock in trade for which they were taxable consisted of their merchandise and nothing else. The defendants contend that the term “stock in trade” included the original capital, the surplus, fixtures, horses and wagons, book accounts, notes receivable, in fact all the property owned by the company necessary for the purpose of carrying on their business. The only questions for decision in this case are whether the non-interest-bearing accounts receivable and fixtures of the plaintiffs are taxable. Subdivision 6 of section 7, chapter 55, Public Statutes, provides…
2Cases cited7 opinions
- Gallus v. ElmerMassachusetts Supreme Judicial Court · 1906
- Wicker v. ComstockWisconsin Supreme Court · 1881
- Albrecht v. CudiheeWashington Supreme Court · 1905
- Kemp v. CarnleyThe Superior Court of New York City · 1853
- New York Biscuit Co. v. City of CambridgeMassachusetts Supreme Judicial Court · 1894
2 more not listed; retrieve them via the Exa API.
3Cited by1 opinion
- GREEN MEADOWS MOBILE HOMES, INC. v. City of ConcordSupreme Court of New Hampshire · 2007