Court Opinion

ID: 9811100
Source: CourtListenerOpinion
Date Created: 2023-08-31 22:08:45.131547+00
Date Added: 2024-06-11T13:39:20.190003
License: Public Domain

Douglas, J.,
concurring in result.
I concur in the conclusion of the Court, and I am inclined to think that the method of taxation indicated in its opinion would be correct if imposed by the proper authority; but I can not concur, as now advised, in 'the statement founded upon the case of Commissioners v. Tobacco Co., 116 N. C., 441, that it is “within the legislative power, in respect to corporations, to levy any two or more of the (four) following taxes simultaneously." I think that a eoTpo'raition should be taxed once on all its tangible and intangible property. This would include not only what is generally known as property, but also its franchise, and, in fact, whatever goes to make up the actual or market *562value of its stocks and bonds. I also think that its shares of stock may properly be taxed in the hands of its shareholders, because it then assumes a new form as personal property following the domicile of its owner. If I have not fully paid for my house, I am still assessed on its full value, while my note is assessed as a solvent credit in the hands of him who holds it. This is in one sense double taxation, inasmuch as it is based upon the same piece of tangible property, but the same individual is not doubly taxed. I am referring mow'only to ad valorem taxation, and not to license taxes, which are entirely different in their nature. It seems to me that, as far as circumstances will permit, the same rule should be applied to the corporation and do the individual, both of whom should be made to bear* 'their just proportion of the burdens of government, without favoritism upon the one hand or oppression upon tire other. .So far ’as lies within my power, I shall hold corporations to the fullest measure of responsibility, but they must be given an equal measure of justice.
I have given much consideration to- 'the matter of corporate taxation, and shall continue to' do so, as it is a question which I fear will ultimately tax to the utmost the powers of the legislative, and perhaps of the judicial departments of the government; but I am not prepared, nor would it be proper to express any opinion as to the extent or limitation of those powers. All I wish tó do at present is to withhold my assent from a former opinion of this Court, in which I took no part, and which, I regret to say, as I am now advised, enunciates a proposition in which neither my judgment of the law n’or my sense of justice will permit me to concur.