Omaha National Bank v. Jensen

This is an action in equity to enjoin the collection of a tax on intangibles. The intangibles are stocks in domesticated foreign corporations, held by plaintiff as executor.

The action presents the question as to whether the stocks are to be valued for taxation under the provisions of section 77-706, R. R. S. 1943, relating to stocks “of corporations organized under the laws of this state” or under the provisions of section 77-722, R. R. S. 1943, relating to shares of stock of a “foreign corporation.” The trial court enjoined the collection of the tax and ordered cancellation. Defendant…