Title Guarantee Loan & Trust Co. v. Hamilton

GARDNER, Justice.

Upon the merits, the question is whether or not the tangible personal property of appellant, such as office furniture, equipment and abstract books, is exempt from ad valorem taxation.

In Article XII, Chapter I (General Acts 1935, page 428), treating the matter of excise tax for financial institutions, is section 346.6 (page 433), exempting from ad valor-em taxation “all moneyed capital employed in the business the privilege of engaging in which is hereby taxed.”

Reduced to the last analysis, the argument is that the tangible personal property comes within the, meaning of the…