Huntley v. Bank of Winona

Citations

• 69 Miss. 663

Syllabus

<p>1. Taxation. Municipalities. Solvent credits. School-tax. Acts of 1886, 1890.</p> <p>Since the revenue act of 1890 (Laws, p. 9) prohibits municipalities from levying or collecting a tax on banks, or solvent credits, greater than seventy-five per cent, of the state tax, a town, being a separate school-district, which has levied, for general purposes, the full limit of tax on such solvent credits, cannot levy an additional tax thereon for school-purposes, although, by the act of 1886 (Laws, p. 51), separate school-districts are required to levy a soliool-tax upon the taxable property therein.</p> <p>2, Same. Banks. Recovering tax illegally exacted.</p> <p>Accordingly, a bank which has, under protest, paid to the tax-collector of the town such illegal school-tax upon its assets and solvent credits, may recover the same in an action against the collector.</p>