City of Atlanta v. Bankers Financing Co.
This text of 61 S.E. 122 (City of Atlanta v. Bankers Financing Co.) is published on Counsel Stack Legal Research, covering Supreme Court of Georgia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Opinion
Under existing laws of Georgia, shares of stock in those-domestic corporations, such as banks, whose property is required by law to be returned for taxation by the president thereof, are not taxable in the hands of the shareholder. Georgia R. Co. v. Wright, 125 Ga. 589 (54 S. E. 52). It follows that a corporation whose principal office is in the City of Atlanta is not liable to the City of Atlanta for taxes on shares of capital stock which'it holds in other domestic banks.
Judgment affirmed,.
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Cite This Page — Counsel Stack
61 S.E. 122, 130 Ga. 534, 1908 Ga. LEXIS 337, Counsel Stack Legal Research, https://law.counselstack.com/opinion/city-of-atlanta-v-bankers-financing-co-ga-1908.