New York Ex Rel. Interborough Rapid Transit Co. v. Sohmer

Citations

• 237 U.S. 276
• 35 S. Ct. 549
• 59 L. Ed. 951
• 1915 U.S. LEXIS 1334

Syllabus

<p>An exemption from taxation of a person constructing and operating a railroad in respect to his or their interest therein under said contract and in respect to the rolling stock and other equipment of the railroad does not extend to a tax or the privilege to operate as a corporation in case the parties decide to operate the road in a corporate form.</p> <p>The Court of Appeals of New York having held that the right to be a corporation was not an interest under the New York subway contract involved in this case, and that the exemption from taxation contained in that contract did not extend to such privilege, this court accepts that construction although it is not conclusive upon it.</p>