Show DECLARE DIVIDENDS EXEMPT TAX supreme COURT SAYS THE GOV NT MUST REFUND MILLION AND A HALF the tahe power of a state to tax net receipts of life insurance companies in each county was upheld in cace from montana washington the court ten ion monday refused the governments request to review tile tho decision of tho the circuit court at philadelphia that tho the corpor corporation ailon tax was riot not collectible from dividends of mutual insurance companies consisting of premiums ra turned or otherwise invested nit at tile tho option of the policyholder As ae a result the government will le be required to refund already collected and to forego any such collections under the present income tax law the power of a state to tax net receipts of life insurance companies in each county was upheld by the court in a case whore tho the now new york life insurance ranco company resisted the collection of a tax by doer deer lodge hodg 0 county mont tho the company contended vainly that tho action of the state was an Inter interference forence with interstate ter state commerce justices hughes and Vandor venter dissented |