Title & Trust Co. v. Wharton

The question here for consideration is whether the Title and Trust Company, plaintiff, is required to pay a corporation excise tax for the year 1936 on net income derived from its title insurance business during that year. From a decree holding that the net income from such business was not subject to that tax this appeal is taken.

The plaintiff is an Oregon corporation and, among other things, is engaged in the business of insuring titles to real property. For the calendar year 1936 its total net income was $62,478.04. Approximately $39,136.24 of this amount was income from its title…