Albert L. Catlin v. Edson S. Hull

Summary

The court held that promissory notes and other debts owed by solvent in-state debtors constituted personal estate taxable under Vermont law, even though the owner lived outside Vermont. It further held that property permanently located and managed in Vermont by an agent for an out-of-state owner was property "held in trust" within the applicable statute and that Vermont had constitutional authority to tax it. The court therefore affirmed the county court's judgment for the defendant.