Franklin Branch Bank v. The State of Ohio was a case heard by the United States Supreme Court in 1861. At issue was whether or not the state of Ohio had the right to tax out-of-state banks operating within its borders, and if so, how much they could be taxed. The bank argued that it should only be subject to taxation on property located within Ohio's boundaries; however, the state argued that all branches were taxable regardless of location. Ultimately, the court sided with Franklin Branch Bank and held that states cannot impose taxes on foreign corporations beyond what is necessary for their protection and benefit as citizens of such states. This decision established an important precedent limiting a state’s ability to tax businesses from other jurisdictions without violating constitutional principles like due process and equal protection under law.

In Franklin Branch Bank v. The State of Ohio, the Supreme Court was asked to decide whether a state could tax a national bank located within its borders. The majority opinion held that states did not have the power to impose taxes on such banks because it would interfere with Congress’s exclusive authority over them under the Constitution. Justice Grier dissented from this ruling, arguing that while Congress had certain powers regarding national banks, they were limited and did not extend so far as to prevent states from taxing them in order to raise revenue for their own purposes. He argued further that if Congress intended for these institutions to be exempt from taxation by individual states then it should have explicitly stated so in legislation or other documents related thereto; since no such language existed at the time of this case, he concluded that there was nothing preventing Ohio from imposing taxes on Franklin Branch Bank as long as those taxes were reasonable and applied equally across all similar entities operating within its jurisdiction.