Phoenix Iron Co. v. Commonwealth
Supreme Court of Pennsylvania
Error to the Court of Common Pleas of Dauphin county; No. 37, to May Term 1868. In the court below this was an appeal by the Phoenix Iron Company from the settlement of the accounting officers of the Commonwealth, charging them with taxes on their net earnings under the Act of April 30th 1864, § 2, Pamph. L. 218, Purd. 1377, pi. 3. The company was incorporated by the Commonwealth of Pennsylvania, and is doing business at Phoenixville, in that state.
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Error to the Court of Common Pleas of Dauphin county; No. 37, to May Term 1868. In the court below this was an appeal by the Phoenix Iron Company from the settlement of the accounting officers of the Commonwealth, charging them with taxes on their net earnings under the Act of April 30th 1864, § 2, Pamph. L. 218, Purd. 1377, pi. 3. The company was incorporated by the Commonwealth of Pennsylvania, and is doing business at Phoenixville, in that state. The 1st section of the Act of 1864 provides for the taxation of railroad, steamboat companies, &c. The 2d section provides that “ every private…
1Opinion of the Court
The opinion of the court was delivered, May 27th 1868, by-
Agnew, J.
The important question in this case is whether a tax upon capital stock, imposed under the Acts of 29th April 1844, Purd. 949, pi. 118, and 12th of April 1859, Purd. 951, pi. 127, is a tax upon dividends, within the meaning of the words “not paying a tax to the state upon dividends under existing laws” contained in the second section of the Act of 30th April 1864, Purd; 1377, pi. 3. The tax. on dividends is a well-known mode of raising revenue for the state upon corporations, and was in its origin chiefly confined to banks.…
2Cited by1 opinion
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