Source or prior law:

L. 1866, ch. 118, § 9; G.S. 1868, ch. 107, § 12.

CASE ANNOTATIONS

1. Excess valuation of stock over tangible property taxable. Ryan v. Comm'rs of Leavenworth Co., 30 Kan. 185, 187, 2 P. 156.

2. Taxation of corporate stock where principal office not within state. Hunt v. Allen County, 82 Kan. 824, 826, 109 P. 106; Weis v. Stubblefield, 85 Kan. 199, 200, 116 P. 209.

3. Amount of capital stock assessable to corporation as personal property. Gas Co. v. Spaeth, 83 Kan. 191, 194, 109 P. 785.

4. Foreign corporation having principal office within state; taxation of stock. Patterson v. Wilson County, 83 Kan. 224, 225, 109 P. 790.

5. Actual value of outstanding stock taxed; valuation specific property deducted. Building Co. v. Saline County, 98 Kan. 732, 733, 160 P. 971.

6. Property of insurance company; situs for taxation; power of legislature. Freedom Township v. Douglas, 99 Kan. 176, 177, 160 P. 1147.

7. Shares of stock assessable at true value; proper deductions therefrom. Bank v. Geary County, 102 Kan. 334, 346, 347, 354, 170 P. 33.

8. Trust company cannot deduct taxes paid for it as stockholder of state bank. Ranchmen's Trust Co. v. Duncan, 114 Kan. 308, 313, 219 P. 523. Criticized: Citizens Bank v. State Tax Comm., 132 Kan. 15, 18, 294 P. 940.

9. United States bonds proper deduction from total valuation of corporation. Life Insurance Co. v. Anderson, 117 Kan. 451, 232 P. 592; Hodgins v. Shawnee County Comm'rs, 123 Kan. 246, 255 P. 46.

10. Kansas corporation may deduct investment in Kansas mortgages subject to registration tax. Davis-Wellcome Mortgage Co. v. Haynes, 119 Kan. 1, 3, 237 P. 918. Overruled: Voran v. Wright, 129 Kan. 601, 607, 284 P. 807.

11. Life insurance company may also deduct assets otherwise taxable. State, ex rel., v. Haynes, 128 Kan. 343, 278 P. 39.

12. Investments in stock of other corporations deductible from capital stock. Crosby Bros. Merc. Co. v. Shawnee County Comm'rs, 128 Kan. 740, 741, 280 P. 786.

13. Cited in holding mortgage registration act constitutional. Citizens Bank v. State Tax Commission, 132 Kan. 5, 18, 294 P. 940.

14. Section discussed, construed and applied. Davis-Wellcome Mortgage Co. v. State Tax Comm., 140 Kan. 734, 737, 739, 741, 742, 38 P.2d 1100.

15. Discussed in holding K.S.A. 79-3108 taxing shares of stock at intangible rate valid. Hunt v. Eddy, 150 Kan. 1, 17, 90 P.2d 747.

16. Cited; Kansas laws taxing foreign insurance companies held valid; interstate commerce. In re Insurance Tax Cases, 160 Kan. 300, 311, 161 P.2d 726. Affirmed: Prudential Insurance Co. of America v. Hobbs, 328 U.S. 822, 66 S. Ct. 1360, 90 L.Ed. 1258; Aetna Insurance Co. v. Hobbs, 328 U.S. 822, 66 S. Ct. 1360, 90 L.Ed. 1258; American Indemnity Co. v. Hobbs, 328 U.S. 822, 66 S. Ct. 1361, 90 L.Ed. 1258; Pacific Mut. Life Insurance Co. v. Hobbs, 328 U.S. 822, 66 S. Ct. 1361, 90 L.Ed. 1258.

17. Terms "principal office" and "registered office" held not synonymous; section construed and applied. Runbeck v. Peterson, 177 Kan. 314, 316, 317, 319, 320, 321, 322, 324, 279 P.2d 233.

18. Capital stock return by corporation is not dependent on corporation's state of origin. Runbeck v. Peterson, 177 Kan. 314, 316, 317, 319, 320, 321, 322, 324, 279 P.2d 233.

19. Person claiming exemption has burden of proof to show location of corporation's principal office. Runbeck v. Peterson, 177 Kan. 314, 316, 317, 319, 320, 321, 322, 324, 279 P.2d 233.