Texas Empire Pipe Line Co. v. Excise Board

This cause is in this court on appeal by the protestant from an order of the Court of Tax Review denying its protest of the sinking fund levy of No-wata' county for the fiscal year commencing July 1, 1931. The plaintiff in error (hereinafter referred to as the plaintiff) presents two contentions which will be considered separately.

It contends that, in determining the amount necessary to be raised by ad valorem taxation for sinking fund purposes for the fiscal year commencing July 1, 1931, the sum of $10,500 was deducted from the amount of assets on hand in the sinking fund on June 30, 1931,…