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LIBBY, MCNEILL & LIBBY v. DEPT. OF TAXATION

260 Wis. 551 (1952)

LIBBY, McNEILL & LIBBY, Appellant, vs. DEPARTMENT OF TAXATION, Respondent.

Supreme Court of Wisconsin.

February 5, 1952.

Attorney(s) appearing for the Case

For the appellant there was a brief by Ela, Christianson & Ela, G. Burgess Ela, and Walter P. Ela, all of Madison, attorneys, and Lyndle W. Hess and F. Postin White, both of Chicago, Illinois, of counsel, and oral argument by Walter P. Ela.

For the respondent there was a brief by the Attorney General and Harold H. Persons, assistant attorney general, and oral argument by Mr. Persons.

GEHL, J.

The applicable statutory provisions are contained in sec. 71.16, Stats. 1947:

"71.16. Privilege dividend tax. (1) For the privilege of declaring and receiving dividends, out of income derived from property located and business transacted in this state, there is hereby imposed a tax equal to three per cent of the amount of such dividends declared and paid by all corporations (foreign and local), except those specified in section 71.01 (3) (a...

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