State Taxation of National Banks
Summary (1 min read)
STATE TAXATION OF NATIONAL BANKS x57
- Indiana statute, from which bona fide debts may be deducted, all mean moneyed capital invested in that way.".
- New York and Kentucky have been among the States the most persistent and the most successful in the effort to whittle down section 5219 and to make it a bar to State taxation in name only.
- Note the reason-"it must further appear," says the court, "that the assessing officers made the erroneous valuation not accidentally or inadvertently, but systematically and intentionally with respect to one or more classes of property, with the intention of imposing upon that class an undue burden of taxation.".
- It does not help the validity of the law for us to declare that it is pro tanto void, and, in fact, make a new law for the State.
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Q1. What contributions have the authors mentioned in the paper "State taxation of national banks" ?
In this paper, it was shown that without the permission of Congress there could be no such tax without a special act giving the permission conditionally, so that the treatment of the subject resolves itself into an examination only of the condition and an ascertainment, as far as may be, of its scope and dimensions.