People ex rel. Manhattan Fire Insurance v. Board of Commissioners of Taxes & Assessments
New York Court of Appeals
Appeals from judgments of the General Term of the Supreme Court, in the first judicial department, affirming proceedings of defendant in assessing personal property of the relators. The facts appear sufficiently in the opinion. Unearned premiums of the relator were not taxable. (Gen’l Ins.
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Appeals from judgments of the General Term of the Supreme Court, in the first judicial department, affirming proceedings of defendant in assessing personal property of the relators. The facts appear sufficiently in the opinion. Unearned premiums of the relator were not taxable. (Gen’l Ins. Law, § 12; Laws 1853, chap. 466, § 12 as amended by Laws 1862, chap. 367, § 3; Laws 1864, chap. 563, § 2; Laws 1865, chap. 199, § 1; Laws 1867, chap. 91, § 7; Laws 1863, chap. 240, p. 434.) The Legislature has power to declare’ in respect to’ corporations what portion of their funds shall constitute…
1Opinion of the Court
Church, Ch. J.
Several questions have been presented and elaborately argued, but the most important of these upon the merits is whether the commissioners erred in estimating a portion of the premiums received upon unexpired policies, as surplus earnings.
The commissioners did estimate as personal property belonging to the company, as I infer from their return, fifty per cent of such premiums. The whole amount of such premiums was something over $500,000, and it was estimated that one-half thereof would discharge the liability of the company thereon, and in arriving at this result, the…
2Cases cited3 opinions
- National Bank v. CommonwealthSupreme Court of the United States · 1870
- People Ex Rel. Buffalo & State Line Railroad v. BarkerNew York Court of Appeals · 1871
- People Ex Rel. Glenn's Falls Insurance v. FergusonNew York Court of Appeals · 1868
3Cited by18 opinions
- People Ex Rel. Westchester Fire Insurance v. DavenportNew York Court of Appeals · 1883
- Cruse v. FischlMontana Supreme Court · 1918
- Van Dyke v. Tax CommissionWisconsin Supreme Court · 1935
- State National Bank v. City of MemphisTennessee Supreme Court · 1906
- Bowman v. Montcalm Circuit JudgeMichigan Supreme Court · 1902
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