Omaha National Bank v. Jensen

This case involves the question as to the proper method of taxing the stock ' of Delaware corporations which domesticated in this state prior to August 24, 1941. The specific issue is whether section 77-706, R. R. S. 1943, or section 77-722, R. R. S. 1943, controls the result. If the former section is applicable the corporation is required to pay the tax assessed upon its stock for the owners thereof; if the latter is controlling, the tax is required to be paid -by the resident owners.

The intangible tax law was enacted in 1921 and so far as applicable here it provided: “Moneys, gross *45credits,…