Greene County v. Smith
Supreme Court of Arkansas
Appeal from G-reene Circuit Court; R. H. Dudley, Judge; The finding and judgment of the circuit court is contrary to the law and 'the evidence. Under the Constitution 1874, art. 16, pars. 5, 6, 7, all property in this State is subject to taxation except certain specified exceptions and stock or shares in a trust estate like this one are not exempt from taxation.
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Appeal from G-reene Circuit Court; R. H. Dudley, Judge; The finding and judgment of the circuit court is contrary to the law and 'the evidence. Under the Constitution 1874, art. 16, pars. 5, 6, 7, all property in this State is subject to taxation except certain specified exceptions and stock or shares in a trust estate like this one are not exempt from taxation. See Kirby’s Digest, § 6873; lb., § 6872; 87 Ark. 484; act 147, Acts 1919, § 4; 43 Ark. 527. As to what is property, see 37 Cyc. 781, and as to the place of taxation, 37 Cyc. 805. The stock was subject to taxation. 41 Ark. 517. And in…
1Opinion of the CourtWood, J.
Under a certain instrument designated as a ‘‘Declaration of Prust” a trust estate was created known as the “Commercial Lease Syndicate,” with offices under that name in Paragould, Arkansas, and such other places as the trustees might designate. The object of the trust, as declared in the instrument, was “to provide a trust in which various persons may have ownership rights, the assets of the trust to be managed by trustees, who shall be free from the direction of said persons having ownership rights, or any of them. The persons having ownership rights shall be trust beneficiaries only,…
2Cases cited5 opinions
- Crocker v. MalleySupreme Court of the United States · 1919
- Mills v. Taunton Savings BankMassachusetts Supreme Judicial Court · 1890
- Hempstead County v. HarknessSupreme Court of Arkansas · 1905
- State v. Chicago, Rock Island & Pacific Railway Co.Supreme Court of Arkansas · 1910
- Union Compress Co. v. StateSupreme Court of Arkansas · 1897
3Cited by5 opinions
- Missouri Pac. Rd., Thompson, Trustee v. StrohackerSupreme Court of Arkansas · 1941
- Darling v. BuddySupreme Court of Missouri · 1927
- Betts v. HackathornSupreme Court of Arkansas · 1923
- Cherokee Public Service Co. v. HelenaSupreme Court of Arkansas · 1931
- Page v. HarrSupreme Court of Arkansas · 1955