MacAllen Co. v. Massachusetts

A statute of Massachusetts, G. L. c. 63, § 32, as amended by Stat. 1923, c. 424, § 1, provides:

“ Except as., otherwise provided in sections thirty-four and thirty-four A, every domestic business corporation shall pay annually, with respect to the carrying on or doing of business by it, an excise equal to the sum of the following, provided that every such corporation shall pay annually a total excise not less in amount than one twentieth of one per cent of the fair cash value of all the shares constituting its capital stock dn the first day of April when the return called for by section…