In this event Corporation A is tax exempt. In our view such a difference is sufficient to warrant a different classification for purposes of taxation. We cannot say that it is unreasonable for the State to require the ordinary and normal support of government when a corporation as here principally benefits nonresidents, and to remit taxes when benefits accrue to our own residents. Exemption from tax places an equivalent burden on the remaining tax payers. Loss in tax revenue from exemption must be balanced by increased assessments on others.
Taxation is legislative.
What money shall be raised by taxation, what property shall be taxed, what exempted, rests exclusively with the Legislature to say, without any limitations except such as are imposed by express constitutional provisions. Y.M.C.A. Camp v. The Court pointed out that the Legislature had not 'singled out a particular class denoted 'nonresidents' for the purpose of imposing a tax. In other cases touching analogous situations, Courts have recognized the broad powers of the Legislature in creating different classifications for purposes of tax exemption. If such a restriction is desirable, it is a matter for action by the legislature.