Commonwealth v. Buffalo & Lake Erie Traction Co.

Citations

• 233 Pa. 79
• 81 A. 932
• 1911 Pa. LEXIS 467

Syllabus

<p>Taxation — Corporations—Tax on loans.</p> <p>A corporation formed by the merger of a Pennsylvania corporation and a New York corporation, which has its principal office in New York must deduct from the interest on its bonds the four mills tax and pay the same to the treasurer of the state of Pennsylvania, where it appears that the bonds in question are owned by residents of Pennsylvania, but are pledged and physically held in New York as collateral security for debts due by the Pennsylvania owners of the bonds.</p>