Philadelphia Co. for Guaranteeing Mortgages v. Guaranty Realty Co.

Citations

• 275 Pa. 18
• 118 A. 543
• 1922 Pa. LEXIS 443

Syllabus

<p>Taxation — Corporations — Debt — Mortgage bonds — Return to State — Acts of June 17, 1918, P. L. 507, and July 15, 1919, P. D. 955.</p> <p>Under section 17 of the Act of June 17, 1913, P. L. 507, as amended by the Act of July 15,1919, P. L. 955, a domestic corporation must make return of and pay to the State, the four mills tax on its outstanding bonds, if they are held by residents of the Commonwealth, even though secured by mortgages on the .corporate property; the holders of such bonds are not required to make return of, and pay to the county, the tax on them.</p>