Edison United Phonograph Co. v. State Board of Assessors

The opinion of the court was delivered by

Dixon, J.

The only reason formally assigned, and the only argument presented by counsel, for setting aside the taxes assessed in 1891 and 1892 against the prosecutor, under the Corporation Tax act as amended March 16th, 1891 {Pamph. L., p. 150), and March 17th, 1892 {Pamph. L., p. 136), are that the proviso of the statute exempts it as a manufacturing corporation having fifty per centum of its outstanding capital stock invested in manufacturing carried on within this state.

The counsel for the prosecutor regards the matter as decided by the opinion of…