First National Bank of Louisville v. Louisville - 174 U.S. 438 (1899)
U.S. Supreme Court
First National Bank of Louisville v. Louisville, 174 U.S. 438 (1899)
First National Bank of Louisville v. Louisville
Argued February 28, March 2, 1899
Decided May 15, 1899
174 U.S. 438
The decision of the court below that taxes imposed upon the franchise or intangible property of a national bank may be regarded as the equivalent of a tax on the shares of stock in the names of the shareholders, and hence did not violate the act of Congress in that respect, was erroneous and is reversed.
The case is stated in the opinion.