Commonwealth v. Jacob Reed's Sons, Inc.

Citations

• 275 Pa. 20
• 118 A. 543
• 1922 Pa. LEXIS 444

Syllabus

<p>Taxation — Corporations—Debts—Promissory notes — Return to State — Acts of June 17, 1918, P. L. 507, and July 15, 1919, P. L. 955.</p> <p>1. Under section 17 of the Act of June 17, 1913, P. t. 507, as amended by the Act of July 15, 1919, P. L. 955, a domestic corporation must make return of, and pay to the State, the four mills tax on its outstanding promissory notes, if they are held by residents of the Commonwealth; the holders of such notes are not required to make return of, and pay to the county, the tax on them.</p> <p>Practice, C. P. — Case-stated—Surplusage.</p> <p>2. In determining what judgment should be entered on an agreed statement of facts, only sueh facts can be considered as the parties have expressly agreed to, or are necessarily to be implied from them; for the purpose of the case all others must be treated as if not existing.</p>