Macomb v. Lake County

Citations

• 9 S.D. 466
• 70 N.W. 652
• 1897 S.D. LEXIS 100

Syllabus

<p>Where the entire capital stock of a bank is taken as a basis of valuation of a stockholder’s shares, for purposes of taxation, without deducting the amount legally invested in real estate, as provided by Laws 1891, Chap. 14, Sec. 24, the stockholder, after paying all that could be lawfully assessed against his shares, may sue in equity to restrain collection of the tax, which, being regular on its face, creates an apparent lien on his land.</p>