WAY v. BOWERS

No. 38032.

175 Ohio St. 331 (1963)

WAY ET AL., APPELLANTS, v. BOWERS, TAX COMMR., APPELLEE.

Supreme Court of Ohio.

Decided December 11, 1963.


Attorney(s) appearing for the Case

Messrs. Mitchell, Mitchell & Reed, for appellants.

Mr. William B. Saxbe, attorney general, and Mr. Daronne R. Tate, for appellee.


GRIFFITH, J.

Two questions are raised in this case. First, where all the stock in a corporation is owned by a sole shareholder, does a preferred-stock dividend paid on such common stock constitute income yield within the meaning of Section 5701.10, Revised Code? Second, does a tax levy outside the ten-mill limitation on real and tangible personal property in a taxing district have the effect of increasing the tax on intangible personal property in such district beyond...

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