New York State v. Roberts

Citations

• 171 U.S. 658
• 19 S. Ct. 58
• 43 L. Ed. 323
• 1898 U.S. LEXIS 1630

Syllabus

<p>The statutes of the State of New York, providing that “Every corporation, joint stock company or asspciation whatever, now or hereafter incorporated, organized or formed under, by'or pursuant to law in this State or in any other State or country.and doing business in this State, except only saving banks and institutions for savings, life insurance companies, banks, foreign insurance companies, manufacturing or mining corporations or companies wholly engaged in carrying on manufacture or mining ores within this State, and agricultural and horticultural societies or associations, which exceptions, however, shall not include gas companies, trust companies, electric or steam heating, lighting and power companies, shall be liable to and shall pay a tax as a tax upon its franchise or business into the state treasury annually, to be computed as follows: ” and that “ The amount of capital stock which shall be the basis for tax . . . in the case o,f every corporation, joint stock company and association liable to taxation thereunder shall be the amount of capital stock • employed within this State,” as construed by the highest court of that State, are not repugnant to the Constitution of the United States.</p> <p>It must be regarded as finally settled by frequent decisions of this court, that, subject to certain limitations as respects interstate and foreign commerce, a State may impose such conditions upon permitting a foreign corporation to do business within its limits as it may judge expedient; and that it may make the grant or privilege dependent upon the, payment of a specific license tax, or a sum proportioned to the amount of its capital used within the State.</p>