Western Union Telegraph Co. v. Lieb

Citations

• 76 Ill. 172

Syllabus

<p>1. Taxation—-foreign corporations doing business in this State. The legislature has the power to impose taxation upon foreign corporations to whatever extent it may, in its discretion, choose, as the condition upon which they shall be allowed to exercise their franchises and privileges in this State. ■%</p> <p>2. Same—capital stock of foreign corporation not tamable undw act of 1872. Under the provisions of the “Act for the assessment of property and for the levy and collection of taxes,” in force July 1,1872, the State Board of Equalization have no authority of law to assess the .capital stock of foreign corporations doing business and exercising their franchise in this State, that act only giving power to make such assessments in respect to corporations created by or under the laws of this State.</p>