Harrison v. Vines

Citations

• 46 Tex. 15

Syllabus

<p>1. Taxation by State of stock in United States Banks.—It is well settled that shares of banking associations authorized by the act of Congress of June 3,1864, “To provide a national currency, in the hands of the shareholders, are liable to taxation by the States, within the limitations set forth in said act, although the capital of such bank is invested in national securities declared by said act as “ exempt from taxation by or under State authority.”</p> <p>2. Same.—The act of June 3, 1873, (13 Leg., 204, 205,) requires the assessment for taxation of “any shares or stock in any banking company or corporation.” The word “share” and “stock” are used as synonymous, and each corporator is required to give in for taxation the part or portion of the capital or capital stock of the corporation, or association, he owns.</p> <p>3. Same.—It is not necessary that it be embodied in the State law imposing such a tax, that it is not greater than that levied upon capital in the hands of individual citizens, or upon the shares of banks organized by the State laws. It is sufficient that such law in fact does not violate those provisions of the national currency act.</p> <p>4. Injunction—Assessment.—It is not a sufficient ground for an injunction restraining the collection of a tax upon an assessment actually made, that it has not been correct^ described on the assessment rolls, prepared from the assessments actually made. Prima facie tiie tax is due upon the assessment, and equity will not aid one who is himself in default.</p> <p>5. Statute construed.—Act of June 12, 1873, 13 Leg., 204, 205.</p>