Board of County Commissioners v. Citizens' National Bank
Supreme Court of Minnesota
In proceedings under the tax law of 1874, to enforce the payment of delinquent taxes in Bice county, the defendant interposed a defence to the tax assessed upon its banking-house in the city of Faribault, and returned as delinquent.
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In proceedings under the tax law of 1874, to enforce the payment of delinquent taxes in Bice county, the defendant interposed a defence to the tax assessed upon its banking-house in the city of Faribault, and returned as delinquent. In its answer the defendant averred that it was a national bank, organized under the act of congress; that tho real estate in question consisted of land which was purchased, and a building thereon which was erected, with money forming part of defendant’s capital stock, for its immediate accommodation in the transaction of its business ; that such land and building…
1Opinion of the CourtCornell, J.
Is real property, lawfully owned and used as a place for the transaction of its business by a bank created and -existing under the national banking law, taxable eo nomine against the bank, under Laws 1874, c. 1, it being conceded that the specific provisions of that statute require the assessment and taxation of all the shares comprising the entire capital stock of the association in the name of the respective shareholders, and at their actual cash value, without any deduction on account of the real property so held by the bank, and in which a portion of its capital is invested ? This is the…
2Cited by22 opinions
- State v. Royal Mineral Ass'nSupreme Court of Minnesota · 1916
- State ex rel. Marr v. StearnsSupreme Court of Minnesota · 1898
- Wingfield v. South Carolina Tax CommissionSupreme Court of South Carolina · 1928
- State v. St. Paul Union Depot Co.Supreme Court of Minnesota · 1889
- Stroh v. City of DetroitMichigan Supreme Court · 1902
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