CHANROBLES VIRTUAL LAW LIBRARY
US LAWS, STATUTES and CODES : Chan Robles Virtual Law Library USA Supreme Court Decisions | Resolutions : Chan Robles Virtual Law Library

ChanRobles™ Virtual Law Library™ | chanrobles.com™   
Main Index Repository of Laws, Statutes and Codes Latest Philippine Supreme Court Decisions Chan Robles Virtual Law Library Latest Legal Updates Philippine Legal Resources Significant Philippine Legal Resources Worldwide Legal Resources Philippine Supreme Court Decisions United States Legal Resources United States Supreme Court Jurisprudence ChanRobles LawTube - Social Network

ChanRobles Internet Bar Review : www.chanroblesbar.com DebtKollect Company, Inc. - Debt Collection Firm Intellectual Property Division - Chan Robles Law Firm

Philippine Supreme Court DecisionsChanRobles On-Line Bar Review

google search for chanrobles.comSearch for www.chanrobles.com


FIRST BANK STOCK CORP. V. MINNESOTA, 301 U. S. 234 (1937)

Subscribe to Cases that cite 301 U. S. 234 RSS feed for this section

U.S. Supreme Court

First Bank Stock Corp. v. Minnesota, 301 U.S. 234 (1937)

First Bank Stock Corp. v. Minnesota

No. 647

Argued March 31, 1937

Decided April 26, 1937

301 U.S. 234

Syllabus

A Delaware corporation transacted its corporate and fiscal business in Minnesota, maintaining in that State a business office and holding there its meetings of stockholders, directors, and executive committee. It owned a controlling interest in the stock of a number of banks of several States. Stock certificates of the subsidiaries were kept in Minnesota, and there it received the dividends thereon, and declared and disbursed the dividends upon its own shares. Through a wholly owned subsidiary corporation, organized and doing business in Minnesota, it maintained a compensated service for the banks which it controlled, offering advice as to their accounting practices, making recommendations concerning loans, commercial paper, and interest rates, and making suggestions regarding their purchase and sale of securities. It planned for them advertising campaigns, and supplied advertising material. Thus, it maintained within the State an integrated business of protecting its investments in bank shares, and enhancing their value, by the active exercise of its power of control through stock ownership of its subsidiary banks.

Held that the corporation's commercial domicile was in Minnesota, and that its shares of stock in North Dakota and Montana banking corporations were taxable by Minnesota. P. 301 U. S. 237.

Whether the same shares could, consistently with the Fourteenth Amendment, be taxed also in North Dakota and Montana is a question not decided.

197 Minn. 544, 267 N.W. 519, affirmed.

Appeal from a judgment in favor of the State of Minnesota in proceedings to enforce collections of delinquent taxes. chanroblesvirtualawlibrary

Page 301 U. S. 236





Back
ChanRobles™ LawTube

google search for chanrobles.com Search for www.chanrobles.com


Supreme Court Decisions Philippine Supreme Court DecisionsUS Supreme Court Decisions



www.chanrobles.us




QUICK SEARCH

cralaw

Browse By ->> Volume


cralaw

Browse By ->> Year


cralaw

  Copyright © ChanRobles Publishing Company | Disclaimer | E-mail Restrictions
ChanRobles™ Virtual Law Library | chanrobles.com™
 
RED