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Articles 1 - 21 of 21
Full-Text Articles in Law
The Non-General Power Of Appointment -- A Creature Of The Powers Of Appointment Act Of 1951, Allan Mccoid
The Non-General Power Of Appointment -- A Creature Of The Powers Of Appointment Act Of 1951, Allan Mccoid
Vanderbilt Law Review
In the course of the past fifty years, during which estate planning has become a specialty rather than one of many jobs handled by the general practitioner, the power of appointment has become an increasingly popular form of gift. The two great advantages which have been claimed for the power are the introduction of great flexibility into the estate plan and the reduction of the tax burden on the property as it passes from one generation to another. It was presumably with both of these objectives in mind that Professor William J. Bowe made a suggestion last year as to …
Taxation - Federal Income Tax - Deductibility By An Employee Of Sum Paid In Settlement Of Claim Arising From His Operation Of Automobile Used In Company's Business, Richard B. Barnett S.Ed.
Taxation - Federal Income Tax - Deductibility By An Employee Of Sum Paid In Settlement Of Claim Arising From His Operation Of Automobile Used In Company's Business, Richard B. Barnett S.Ed.
Michigan Law Review
Petitioner and one Elkins were employed by a corporation which they had organized to engage in the electrical contracting business. They furnished their own automobiles to transport men and material from job to job, and were reimbursed by the corporation for operating expenses. The corporation also paid for insurance and repairs of the automobiles. While Elkins was using petitioner's car to drive two employees to a job in progress, a collision occurred causing personal injuries to the two employees, who recovered a judgment against petitioner which he finally settled by payment of $4,000 in excess of the amount of the …
Constitutional Law - Congressional Powers - Validity Of The 1951 Gamblers' Occupation Tax Act, James W. Callison S.Ed.
Constitutional Law - Congressional Powers - Validity Of The 1951 Gamblers' Occupation Tax Act, James W. Callison S.Ed.
Michigan Law Review
The Revenue Act of 1951 levied a tax on persons engaged in the business of accepting wagers, requiring such persons to register their names and places of business and residence with the Collector of Internal Revenue. The act also required the disclosure of the name and address of each person receiving wagers for the registrant, or, if the registrant himself received wagers for another, the name of that person. Violations of the act were punishable by fine and imprisonment. Defendant was indicted for willful failure to register and pay the tax. The district court granted defendant's motion to dismiss on …
Taxation - Federal Income Tax - Exemplary Damages As Taxable Income To Recipient, Eliot Gerber S.Ed.
Taxation - Federal Income Tax - Exemplary Damages As Taxable Income To Recipient, Eliot Gerber S.Ed.
Michigan Law Review
Petitioner, a motion picture exhibitor, sued certain motion picture distributors under the private remedy provisions of the federal antitrust acts. Judgment was had against the distributors for treble damages. Upon failure of petitioner to report as income the amount recovered above its actual loss of profits, the Commissioner determined deficiencies in petitioner's income tax. Held, the amount recovered above actual loss of profits was exemplary damages and not taxable income. William Goldman Theatres, Inc., 19 T.C. 637 (1953).
Notes, Michigan Law Review
Notes, Michigan Law Review
Michigan Law Review
The information given in the notes is derived from inspection of the books, publishers' literature, and the ordinary library sources.
Taxation - Federal Income Tax - Consequences To Seller And Buyer Of Covenant Not To Compete, Richard B. Barnett S.Ed.
Taxation - Federal Income Tax - Consequences To Seller And Buyer Of Covenant Not To Compete, Richard B. Barnett S.Ed.
Michigan Law Review
The owners of the entire capital stock of a newspaper business received an offer of $1,000,000 for their stock and a covenant not to compete with buyers for ten years. After the offer was accepted and the contract of sale drawn up, buyer asked for a clause in the contract evaluating the covenant not to compete at $50 a share and the stock at $150 a share in order to help him taxwise. The clause was accepted with little discussion. The sellers reported the entire proceeds of the sale on their income tax returns as long term capital gain, but …
The Sale Of Mortgaged Real Estate Under The Indiana Gross Income Tax: A Judicial Lesson In Semantics
The Sale Of Mortgaged Real Estate Under The Indiana Gross Income Tax: A Judicial Lesson In Semantics
Indiana Law Journal
No abstract provided.
A Critique Of Some Federal, State, And Local Tax Coordination Techniques, Burton W. Kanter
A Critique Of Some Federal, State, And Local Tax Coordination Techniques, Burton W. Kanter
Indiana Law Journal
No abstract provided.
Constitutional Law, Paul H. Sanders
Constitutional Law, Paul H. Sanders
Vanderbilt Law Review
The Supreme Court of Tennessee has been faced with few major Constitutional Law problems during the period under consideration. Statistically, the action of the Court in invalidating one law out of almost a score that were attacked before it on the basis of constitutional defect suggests an attitude of judicial restraint toward the product of a coordinate branch of government. The relatively small number of constitutional questions raised-- and many of them were obviously make-weight rather than points of principal reliance-- suggests a general awareness of the Court's stability and the unlikelihood of its departing from established precedent. Similarly, regard …
Taxation - Federal Income Tax-What Constitutes Accident Or Health Insurance Under Section 22(B)(5)-, Marvin O. Young
Taxation - Federal Income Tax-What Constitutes Accident Or Health Insurance Under Section 22(B)(5)-, Marvin O. Young
Michigan Law Review
Plaintiff brought this action to recover federal income tax paid by him for the year 1945 on a sum of $1800 which plaintiff received from his employer pursuant to a "free" sickness benefits plan which plaintiff's employer had in effect, claiming that this amount was excludable from gross income under section 22(b)(5) as "amounts received through accident or health insurance." Plaintiff's employer was an insurance company with authority to write health and accident insurance, and "free" protection was given to all full-time salaried home and branch office employees who could pass a satisfactory medical examination. Many ordinary features of a …
Taxation - Clifford Regulations Ten Year Period Unconstitutional, Robert Scott Batchelder
Taxation - Clifford Regulations Ten Year Period Unconstitutional, Robert Scott Batchelder
William and Mary Review of Virginia Law
No abstract provided.
Judicial Techniques In Combating Tax Avoidance, Ralph S. Rice
Judicial Techniques In Combating Tax Avoidance, Ralph S. Rice
Michigan Law Review
There is no problem today more fundamental in federal tax law than the rationale (or lack of it) that underlies the conduct of the courts in striking down tax avoidance devices and refusing to recognize business arrangements which meet statutory requirements for tax saving but exude an odor piscatorial.
Taxation-Federal Income Tax-Constitutionality Of The Clifford Regulations, Robert G. Russell S.Ed.
Taxation-Federal Income Tax-Constitutionality Of The Clifford Regulations, Robert G. Russell S.Ed.
Michigan Law Review
Taxpayer created a five year irrevocable trust on December 1, 1941 for the benefit of a charitable foundation. She retained a reversion in the corpus but disclaimed any right to income. She did not retain, directly or indirectly, any interim control over the corpus or income. On December 1, 1942 the term of the trust was extended to December 1, 1951. Taxpayer did not report the income of the trust in her return. The Commissioner assessed deficiencies for 1946 claiming that the trust was for a term of nine years and that under the new ten year rule, the income …
Taxation-Federal Income Tax-Payment To Lessee For Surrender Of Lease Taxable As Capital Gain, Theodore J. St. Antoine
Taxation-Federal Income Tax-Payment To Lessee For Surrender Of Lease Taxable As Capital Gain, Theodore J. St. Antoine
Michigan Law Review
Taxpayer, a tenant in possession of premises under a lease, received a payment from the lessor to vacate and surrender the premises before the lease expired. The Tax Court decided that the payment was taxable only as a capital gain. On appeal, held, affirmed. Since the leasehold interest constituted property, its transfer by the lessee to the lessor was a sale of a capital asset under I.R.C., §117. Commissioner v. Golonsky, (3d Cir. 1952) 200 F. (2d) 72.
United States Taxation Of Non-Resident Aliens And Foreign Corporations, By Neil F. Phillips, Burton W. Kanter
United States Taxation Of Non-Resident Aliens And Foreign Corporations, By Neil F. Phillips, Burton W. Kanter
Indiana Law Journal
No abstract provided.
Constitutional Law-Relation Between State And Federal Governments, J. David Voss
Constitutional Law-Relation Between State And Federal Governments, J. David Voss
Michigan Law Review
Plaintiffs, employees of a United States Naval Ordnance Plant located in an area of exclusive federal jurisdiction within the State of Kentucky, sued in a state court for a declaratory judgment that a license tax on the privilege of working in the City of Louisville, measured by a percentage of all salaries, wages and commissions earned within the city, was not applicable to them. Defendants' demurrer was overruled, and the collection of the tax enjoined. The Kentucky Court of Appeals reversed, and judgment was entered for the defendants. The court of appeals affirmed. On appeal to the United States Supreme …
Taxation-Federal Income Tax-Status Of Payment Of Corporate Liability By Stockholder Subsequent To Liquidation, George V. Burbach S.Ed.
Taxation-Federal Income Tax-Status Of Payment Of Corporate Liability By Stockholder Subsequent To Liquidation, George V. Burbach S.Ed.
Michigan Law Review
Petitioners, from 1937 to 1940, received distributions from the liquidation of a corporation of which they were stockholders and reported the profits thus obtained, classifying them as capital gains pursuant to I.R.C., §115. In 1944, a judgment was rendered against the corporation. Petitioners, as transferees, paid the judgment and took a deduction of 100 per cent, classifying the amount paid as an ordinary business loss. The Commissioner took a contrary position, and held the payment a capital loss. The Tax Court upheld the petitioners' contention but the court of appeals reversed. On appeal, held, affirmed, three Justices dissenting. The …
Municipal Corporations--Charter Amendment-Submission Of Three Propositions In The Form Of One Question, Joseph M. Kortenhof S.Ed.
Municipal Corporations--Charter Amendment-Submission Of Three Propositions In The Form Of One Question, Joseph M. Kortenhof S.Ed.
Michigan Law Review
The council of defendant city adopted a resolution whereby the city charter was to be amended to authorize a limitation of I% per annum on property taxes, an excise tax of 1% per annum on salaries, commisions and profits of both nonresidents and residents, and disposition of the monies received by the income tax. The proposed charter revision was approved by the qualified electors by a margin slightly less than two to one. The plaintiffs, electors and residents of the city, obtained an injunction against enforcement of the charter amendment. On appeal, held, affirmed. The charter revision was ineffectual …
State Taxation Of Vehicles Moving Interstate: The Intervention Of The Supreme Court
State Taxation Of Vehicles Moving Interstate: The Intervention Of The Supreme Court
Indiana Law Journal
No abstract provided.
Medical Deduction: Scope And Purpose
The Burden Of Proof In The Tax Court, Wm. Schwerdtfeger
The Burden Of Proof In The Tax Court, Wm. Schwerdtfeger
Kentucky Law Journal
No abstract provided.