MR. JUSTICE SHIRAS, after stating the case, delivered the opinion of the court.
In this case we are called upon to consider the question whether, under the inheritance tax laws of a State, a tax may be validly imposed on a legacy consisting of United States bonds issued under a statute declaring them to be exempt from state taxation in any form.
It is not open to question that a State cannot, in the exercise of the power of taxation, tax obligations of the...
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