Sun Mutual Insurance v. Mayor of New York
1 Seld. Notes 94
Opinion
Mutual insurance companies are liable to taxation on their capital stock, under the statute “concerning the assessment of taxes on incorporated companies.”
The amount of capital on which they may be taxed, may vary according to the increase or diminution of their accumulated premiums, invested to produce income, or held to provide for losses, such accumulated premiums constituting capital liable to taxation.
(See 4 N. Y. 442; S. C., 8 N. Y. 743.)
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Sun Mutual Insurance v. Mayor of New York, 1 Seld. Notes 94 (N.Y. 1853).
1 Seld. Notes 94 (Sun Mutual Insurance v. Mayor of New York) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Related
Mutual Ins. Co. of Buffalo v. . Supervisors of Erie
4 N.Y. 442 (New York Court of Appeals, 1851)