Harvester Building Co. v. Hartley

Citations

• 98 Kan. 732
• 160 P. 971
• 1916 Kan. LEXIS 178

Syllabus

<p>SYLLABUS BY THE COURT.</p> <p>Taxation — Listing Capital Stock of Certain Corporations for Taxation — Statute Construed. The statute providing that no person shall be required to list for taxation any portion of the capital stock of certain corporations, but that their agents shall list “the full amount of stock paid in and remaining as capital stock,” which shall be taxed at its true value, as other personal property, a deduction being first made of the amount of stock invested in specific property which is given to the assessors for taxation, is interpreted to mean that taxes are to be paid upon the actual value of the shares of stock outstanding, less the amounts assessed against specific property, and that this rule applies even where the corporation is engaged in no other business than in renting real estate which it has procured by the expenditure of the whole amount paid in by stockholders, and the stock is appraised at a greater value than the realty.</p>