Scobee v. Bean
| Decision Date | 14 December 1900 |
| Citation | 109 Ky. 526,59 S.W. 860 |
| Parties | SCOBEE, Sheriff, v. BEAN et al. SAME v. SCOTT et al. |
| Court | Kentucky Court of Appeals |
Appeal from circuit court, Clark county.
"To be officially reported."
Actions by John E. Bean and others against R. S. Scobee, sheriff, to enjoin the collection of a tax. Judgment for plaintiffs, and defendant appeals. Reversed.
Beckner & Jouett, for appellant.
J. M Benton and D. L. Pendleton, for appellees.
In September, 1899, the appellees, Bean and others, were the owners of certain shares of stock in the Clark County National Bank. The assessor of that county, in virtue of the general revenue laws of the state, assessed these shares for taxation at their fair cash value, in the hands of the various owners. When the sheriff, in due course, was about to collect the tax, this suit was brought to prevent him, on the ground that shares of stock in national banking associations in Kentucky are not assessable or taxable, because the legislature has not determined and directed the manner and place of taxing such shares. The chancellor upheld the plaintiffs' contention, and the sheriff has appealed.
It is to be noted at the outset that this species of property cannot be taxed within the various states except as permitted by federal law, and the statute so permitting, and by which we are to be guided (Rev. St. U.S. § 5219), is as follows As, admittedly, the assessor has included the shares of stock in question in the valuation of the personal property of their owners, the question is narrowed down to this: Had the legislature in 1899 determined or directed the manner and place of taxing shares in national banking associations? And, if we answer this question in the affirmative, then a second question is presented, namely: Does the law thus provided by the legislature discriminate against national bank shares, by requiring them to be taxed at a greater rate than is assessed upon moneyed capital in the hands of individual citizens of the state?
Touching the first question, it is admitted by appellant that our revenue statutes do not designate this character or class of property, eo nomine, for taxation; but section 4020, Ky. St thus provides: "All real and personal estate within this state and all personal estate of persons residing in this state, and of all corporations organized under the laws of this state, whether the property be in or out of this state including intangible property, which shall be considered and estimated in fixing the value of corporate franchises as hereafter provided, shall be subject to taxation unless the same be exempt from taxation by the constitution, and shall be assessed at its fair cash value estimated at the price it would bring at a fair voluntary sale." Section 4022 further provides: "For the purposes of taxation, real estate shall include all lands within this state and improvements thereon; and personal estate shall include every other species and character of property --that which is tangible as well as that which is intangible." By sections 4047 and 4052 the taxpayer is required to list, under oath, all and every species of property belonging to him or in his possession, subject to taxation, on the 15th day of September of each year, and be bound for the tax. Section 4050 provides thus: "Personal property of every kind shall be separately stated and valued in the appropriate column of the tax-book herein provided, and if there be no appropriate column, it shall be valued and stated in the column headed 'Miscellany."' Item 10 of the schedule provided by section 4058 reads thus: "(10) Amount of stock in joint stock companies or associations of this state not paid on by the company or association." That this language is intended to make a distinction, not between national and state...
To continue reading
Request your trial
-
City of Covington v. First National Bank of Covington No 113 First National Bank of Covington v. City of Covington No 114
...statute books of Kentucky, prior to the passage of the act of March 21, 1900, the supreme court of Kentucky, in the case of Scobee v. Bean, 109 Ky. 526, 59 S. W. 860, has held that there was ample statute law in that state for the taxing of shares in national banks under the laws of that st......
-
Commonwealth v. Citizens' Nat. Bank
...assessments were barred after five years from the time the property should have been assessed. The shares in the bank, as held in Scobee v. Bean, might have been assessed every year in name of the shareholders. The act of 1900 created no new right; it simply gave a new remedy. The statute b......
-
Citizens National Bank v. Commonwealth of Kentucky, For the Use and Benefit of Boyle County
...domestic shareholders or the bank which did not exist before, under the prior law of the state, was settled by the case of Scobee v. Bean, 109 Ky. 526, 59 S. W. 860. In that case the shares of certain resident shareholders had been assessed for taxes laid for years prior to this act of 1900......
-
Commonwealth v. Union National Bank of Reading
... ... v. Davenport Board of Equalization, 123 U.S. 83, 31 ... L.Ed. 94; Citizens' & Southern National Bank v. City ... of Atlanta, 53 F.2d 557; Scobee v. Bean, etc., ... 109 Ky. 526, 59 S.W. 860 ... As we ... stated in our former opinion, the statutory formula for ... valuation of ... ...