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Updated: May 17, 2025
"We oughta know it," Stoner said. "It saves paying a big corporation tax and lets you sell all the full-paid, nonassessable stock you want to issue, regardless of what the property is worth. Oh, we got wise to that, muy pronto! Why, these here Texas laws are the bunk! Them fellows at Austin, if they had their way, would make it impossible to promote a legitimate enterprise on a paying basis.
He paused expectantly, but Wiley did not speak, so he went on blandly, as before. "The stock, of course, is nonassessable and the taxes are very small. I intend from now on to keep them paid up, so there will be no further tax sales. The stock of Mrs.
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