Consolidated Coal Co. v. State

BOULDIN, Justice.

The franchise tax upon foreign corporations authorized by Section 232 of the Constitution of Alabama “based on the actual amount of capital employed in this state,” and levied by the General Revenue Law of 1935 (Acts of 1935, p. 387, Sec. 318) upon foreign corporations “doing business in this State,” is an excise tax for the privilege of exercising corporate functions in Alabama, measured by the actual amount of capital employed- in Alabama in the exercise of such corporate functions, capital employed in a business for which the corporation was created and has its existence…