State v. Stonewall Insurance
Supreme Court of Alabama
Appeal from the Circuit Court of Mobile. Heard before the Hon. Wm. E. Clarke. In the matter of the assessment of escaped taxes against the Stonewall Insurance Company, for the years 1885-89, both inclusive; the question being the liability of the company for taxes on the amount of its capital stock invested in non-taxable Alabama bonds, as follows:' for the year 1885, $68,045; 1886, $67,815; 1887, $112,885; 1888, $109,915; and 1889, $125,085. The transcript of the record was…
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Appeal from the Circuit Court of Mobile. Heard before the Hon. Wm. E. Clarke. In the matter of the assessment of escaped taxes against the Stonewall Insurance Company, for the years 1885-89, both inclusive; the question being the liability of the company for taxes on the amount of its capital stock invested in non-taxable Alabama bonds, as follows:' for the year 1885, $68,045; 1886, $67,815; 1887, $112,885; 1888, $109,915; and 1889, $125,085. The transcript of the record was abridged, under rule No. 27 (Code, p. 804), and sets out only the agreed facts, and the judgment of the court making a…
1Opinion of the CourtClopton, J.
The record presents the single issue, whether a private corporation is entitled to deduct from the value of its capital stock, when assessed for taxation, such portion thereof as is invested in bonds of the State, under subdivisión 9 of section 453 of the Code, which levies a tax upon “the capital stock of all corporations, companies or associations, created or existing under any law in force in this State, except such portions of the capital stock as may be invested in property which is otherwise taxed as property, the same to be paid by the corporation, company or association; but, when…
2Cases cited4 opinions
- New York Ex Rel. Bank of Commerce v. Commissioners of TaxesSupreme Court of the United States · 1863
- Hamilton Co. v. MassachusettsSupreme Court of the United States · 1868
- Bank Tax CaseSupreme Court of the United States · 1865
- Maguire v. Board of Revenue & Road Commissioners of Mobile CountySupreme Court of Alabama · 1882
3Cited by12 opinions
- Phœnix Carpet Co. v. StateSupreme Court of Alabama · 1897
- Union Central Life Ins. v. State Ex Rel. WhetstoneSupreme Court of Alabama · 1933
- American Smelting & Refining Co. v. People ex rel. LindsleySupreme Court of Colorado · 1905
- Southern Railway Co. v. GreeneSupreme Court of Alabama · 1909
- Oak Ridge Cemetery Corp. v. Tax CommissionIllinois Supreme Court · 1921
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