Commonwealth v. DuPont Land Co.

Citations

• 254 Pa. 446
• 98 A. 1047
• 1916 Pa. LEXIS 750

Syllabus

<p>Taxation — Corporate delis — Assessment and collection of tax— Acts of June SO, 1885, P. L. 19S, Sec, 4; June 1, 1889, P. L. 4%0, Proviso 2, Sec. 2; June 8,1891, P. L. 229.</p> <p>. 1. The tax which a corporation is required to assess and collect by the Acts of June 30, 1885, P. L. 193, Section 4; June 1, 1889, P. L. 420, Proviso 2, Section 2, and June 8, 1891, P. L. 229, is that which is due on certificates or evidences of indebtedness which the corporation has itself created and issued.</p> <p>2. A covenant in a deed conveying real estate to a corporation whereby the corporation agreed to pay a mortgage indebtedness, does not make the mortgages an indebtedness of the corporation within the contemplation of the Act of June 30, 1885, P. L. 193.</p>