Wilcoxen v. Munn

The tax in question was levied in the year 1925. It is upon the shares of stock in the Security Loan & Investment Company. This company became insolvent, and plaintiff was appointed its receiver on December 5, 1925. The levying- of the tax was governed by the law as found in the Code of 1924, Section 7008. and is Section 16 of the codifying act, which materially changed Section 1323 - of the Code of 1897. Section 7008 declares:

“The shares of stock'of any corporation organized under the laws of this state, except corporations otherwise provided for in Chapters 331 to 341, inclusive, and except…