Adams v. Tombigbee Mills

Citations

• 78 Miss. 676

Syllabus

<p>1. Constitutional Law. Taxation. Exemption. Factories. Laws 1882, p. 84.</p> <p>The act of 1882 (laws 1882, p. 84), to encourage the establishment of factories and to exempt them from taxation, is constitutional and has never been repealed. Yazoo, etc.. B. B. Co. v. Adams, 77 Miss., 194, distinguished.</p> <p>'2. Same. Constitution 1890, sec. 181.</p> <p>The exemption from taxation granted by said act of 1882 was continued in force, subject to legislative repeal, by sec. 181, constitution of 1890.</p> <p>3. Same. Tenement houses of employes.</p> <p>The tenement houses and the land on which they stand, occupied by the employes of a factory, not located on the grounds of the factory, are not exempt from taxation under said act of 1882.</p> <p>4. Same. Capital stoclc.</p> <p>The capital stock of a factory is not exempt eo nomine by said act of 1882; the whole of it should be estimated for taxation at its market value, and if its market value exceeds the amount invested in property exempted by the act, the excess alone should be taxed.</p> <p>5. Same. Charter provisions.</p> <p>Nothing can he gained by a corporation claiming exemption nnder said act by the provisions of its charter granted under general laws. Srich a charter must square with the act.</p>