Metropolitan Life Ins. v. Board of Assessors

Citations

• 115 La. 698
• 39 So. 846
• 1905 La. LEXIS 722

Syllabus

<p>1. Taxation — Situs of Personalty.</p> <p>The rule “Mobilia sequuntur personam” is. a fiction of law, not resting of itself upon any constitutional foundation, and which gives way before express law destroying it in any given case, where constitutional requirements do not stand in the way.</p> <p>2. Same — Nonresident Corporations — Property Employed in State.</p> <p>The seventh section of Act No. 170 of' 1898 announced the policy of the state touching the taxation of credits and notes representing to the equivalent thereof an amount of' property of a foreign corporation which was utilized by it in the prosecution of its business in the state of Louisiana. The objp'-t of the statute was to do away with the discrimination theretofore existing in favor of nonresidents as. against residents and place them all on an equal footing. The statute was not arbitrary by a legitimate exercise of legislative power and discretion, and is constitutional.</p> <p>3. Same — Money Loaned in State.</p> <p>The particular manner or instrumentality by which the moneys used by the foreign corporation in Louisiana in the course of its. business are obtained is a matter of no significance in the consideration of the liability of the company to taxation for the use of' such money. The moneys loaned in Louisiana were the company’s moneys, and the notes evidencing the loan represented the moneys so used in Louisiana. The moment the moneys were received in Louisiana the taxing power attached as against the company, and the tax-created was not destroyed because thereafter-the company might remove the notes beyond the limits of the state.</p> <p>4. Same — Collection of Tax.</p> <p>The state is not required to go beyond its. limits for the purpose of enforcing the tax. Article 233 of the Constitution furnishes an, adequate remedy. The delinquent can be reached through process upon its resident local superintendent.</p> <p>5. Same — Loans—Removal oe Notes out oe</p> <p>State.</p> <p>There was no