New Orleans Cotton Exchange v. Board of Assessors
Supreme Court of Louisiana
APPEAL from the Civil District Court for the Parish of Orleans. r Houston, J. Ho tax can bo imposed on the shares of stock of a corporation, unless over and above the property of the corporation, all of which is directly titled; tbe shares have a taxable value.
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APPEAL from the Civil District Court for the Parish of Orleans. r Houston, J. Ho tax can bo imposed on the shares of stock of a corporation, unless over and above the property of the corporation, all of which is directly titled; tbe shares have a taxable value. This'taxable value is illustrated by shares of banks, insurance companies and corporations organized to make profits for shareholders; over and above the property of such corporations taxed direct, such shares have a money or property value, i. 6-, dividends or interest, on which the tax falls when such shares are taxed. The mode of…
1Opinion of the Court
The opinion of the Court was delivered by
Bbkmddez, C. J.
This is a proceeding to annul an assessment of stock, for tbe year 1882. Prom a judgment rejecting its demand, tbe plaintiff appeals.
Tbe assessors have assessed for the year stated the plaintiff’s real estate at §87,000, and its shareholders, five hundred shares, each of the value of §3,326, forming an aggregate of §1,663,000.
The questions presented are the following:
1. Are the shares property, in the sense that they are taxable1?
2. Can they, if such property, be taxed under the Act of 1880, No. 77, which provides how shares in…
2Cases cited2 opinions
- National Bank v. CommonwealthSupreme Court of the United States · 1870
- Minot v. Philadelphia, Wilmington & Baltimore RailroadSupreme Court of the United States · 1874
3Cited by3 opinions
- State ex rel. Louisiana Imp. Co. v. Board of AssessorsSupreme Court of Louisiana · 1902
- Chassaniol v. Board of AssessorsSupreme Court of Louisiana · 1908
- In re Feliciana Bank & Trust Co.Supreme Court of Louisiana · 1918