Missouri, Kansas & Texas Railway Company of Texas v. O. K. Shannon

Summary

The Texas Supreme Court affirmed the lower courts, holding that the district court had jurisdiction to enjoin the State Tax Board’s future actions under the Intangible Assets Act, that the Act does not violate the Texas Constitution’s separation‑of‑powers or assessment provisions, and that its valuation method is not arbitrary under due‑process standards. The Court also explained that uniformity of taxation does not require a single assessment method and that quasi‑judicial functions of executive officers are permissible.