Board of Education of Wilson County v. Town of Wilson

The Board of Education of Wilson County instituted its action to recover the sum of $1,701.30 which had been allocated and paid to the Town of Wilson under the Intangible Personal Property Schedule of the Revenue Act of 1937.

Under the provisions of Schedule H, Art. VIII, of ch. 127, Public Laws 1937, the State levied and collected a tax on certain forms of intangible personal property, to-wit: bank deposits, money on hand, accounts receivable, certain deposits with insurance companies, evidences of debt, and shares of stock (secs. 700 to 716 inclusive). The act provided that fifty per centum…