State ex rel. Payne v. Exchange Bank
Supreme Court of Louisiana
Appeal from Eleventh Judicial District Court, Parish of Natchitoches; W. T. Cunningham, Judge. Suit by the State, on the relation of J. W. Payne, Tax Collector, against the Exchange Bank of Natchitoches. Judgment for plaintiff, and defendant appeals.
1Opinion of the CourtO’Niell, J.
The defendant bank appeals from a judgment ordering the payment of an annual license tax of $150.
The question presented is whether the tax should be $150 or only $75. And that depends upon the question whether the expression, “the declared or nominal capital and surplus,” in paragraph 2 of section 3 of Act 171 of 1898 (page 389), which determines the sum that shall form the basis of the annual license tax imposed upon every banking business, includes undivided profits.
The sum of the capital and surplus of the defendant bank is more than $50,000 and less than $100,000. Therefore, if the…
2Cited by11 opinions
- State v. NealSupreme Court of Louisiana · 1977
- Washington v. St. Charles Parish School BoardSupreme Court of Louisiana · 1974
- State v. Standard Oil Co. of LouisianaSupreme Court of Louisiana · 1938
- Delta Life Ins. Co. v. MartinLouisiana Court of Appeal · 1952
- State Ex Rel. Chess & Wymond Co. v. GraceSupreme Court of Louisiana · 1937
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