Art. XVI, § 4
Certain corporations not to be discriminated against
Limit
Taxes, Money & Commerce
Art. XVI · Taxation
Official text rightpowerlimitif conditionlegal term
Where the state has power to tax corporations incorporated under the laws of the United States there shall be no discrimination in the rates and method of taxation between such corporations and other corporations exercising substantially similar functions and engaged in substantially similar business within the state.
Simplified explanation
Where the state has power to tax corporations incorporated under the laws of the United States, it shall not discriminate in tax rates and method between them and similar corporations doing similar business in the state.