Commonwealth v. Cary Improvement Co.
Massachusetts Supreme Judicial Court
Contract for the amount of a tax assessed by the Commonwealth under the St. of 1864, c. 208, against a land company chartered by the St. of 1852, c. 59. The case was reserved for determination by the full court on facts agreed as follows ; such judgment to be entered thereon as the law might require. The corporation owned certain lands in Chelsea; and also personal property valued at about eighty thousand dollars.
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Contract for the amount of a tax assessed by the Commonwealth under the St. of 1864, c. 208, against a land company chartered by the St. of 1852, c. 59. The case was reserved for determination by the full court on facts agreed as follows ; such judgment to be entered thereon as the law might require. The corporation owned certain lands in Chelsea; and also personal property valued at about eighty thousand dollars. Its capital stock was divided into sixty thousand shares of the par value of five dollars each, or three hundred thousand dollars in all. In determining the amount of tax, the tax…
1Opinion of the CourtWells, J.
This case stands upon the same ground as Commonwealth v. Boston Wharf Co. 12 Allen, 298. The defendants complain that the valuation, upon which the amount of the tax is computed, is excessive and unreasonable, and therefore that eithei the tax is entirely invalid, or the defendants are entitled to be relieved to the extent of the excess. The return made by the treasurer of the corporation stated the market value of the shares. This return, verified by information of actual sales of such shares, governed the tax commissioners in fixing the value of the aggregate capital stock upon which the…
2Cited by20 opinions
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- Gleason v. McKayMassachusetts Supreme Judicial Court · 1883
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