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MICHIGAN NAT. BANK v. MICHIGAN

No. 155.

365 U.S. 467 (1961)

MICHIGAN NATIONAL BANK ET AL. v. MICHIGAN ET AL.

Supreme Court of United States.

Decided March 6, 1961.

Attorney(s) appearing for the Case

Victor W. Klein argued the cause for appellants. With him on the brief were Thomas G. Long, Philip T. Van Zile II and Harold A. Ruemenapp.

William D. Dexter, Assistant Attorney General of Michigan, argued the cause for appellees. With him on the brief were Paul L. Adams, Attorney General, Samuel J. Torina, Solicitor General, and T. Carl Holbrook, Assistant Attorney General.

MR. JUSTICE CLARK delivered the opinion of the Court.

The State of Michigan levies "on the privilege of ownership" a 5 1/2-mill tax per dollar on the value of each common share of stock in national banks1 located in the State. It requires federal and state savings and loan associations in the State to pay, in addition to other taxes not here involved, for its shareholders an intangibles tax of...

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