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What is Kentucky Taxation of National Bank Shares about?
This document summarizes a Supreme Court case regarding a Kentucky law that retroactively imposed tax liability on national banks for shares of stock held by resident shareholders that had not been previously assessed for certain years. The Court upheld the law, finding that it did not impose new tax liabilities, but rather provided a new mechanism for assessing shares that escaped taxation under prior state law. The bank was made responsible as the agent for its shareholders in the tax proceedings.
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- Scribd Government Docs
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- EN