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Full-Text Articles in Securities Law
The Present Status Of Multiple Taxation Of Intangible Property, Robert C. Brown
The Present Status Of Multiple Taxation Of Intangible Property, Robert C. Brown
Michigan Law Review
The decision by the Supreme Court in 1932 of the case of First National Bank of Boston v. Maine represented the culmination of a fairly brief but apparently decisive effort by that Court substantially to do away with the taxation of intangible property by more than one state. Successive decisions within the three years previous had sought to do away with such taxation of debts ( no matter how evidenced) by more than one state; and First National Bank v. Maine laid down the same rule for corporate stock.
Taxation - Income Tax - Inclusion Of Unpaid Dividends In Decedent's Income, Michigan Law Review
Taxation - Income Tax - Inclusion Of Unpaid Dividends In Decedent's Income, Michigan Law Review
Michigan Law Review
Decedent owned stock in a corporation whose board of directors declared a dividend on April 30, 1934, for the fiscal year ending January 31, 1935, payable to stockholders of record at such times and in such installments as the directors might determine. At the time of decedent's death, October 15, 1934, only one-half of the dividend had been paid to him, but the commissioner included in the gross income of the decedent for the taxable period prior to death the entire amount of the dividend declared. The Board of Tax Appeals reduced this amount to the portion of the dividend …
Taxation - Income Tax - Capital Gains - Cost Basis To Distributee, David N. Mills
Taxation - Income Tax - Capital Gains - Cost Basis To Distributee, David N. Mills
Michigan Law Review
Testator died in 1903, and the executors turned over the residue of his estate to themselves as testamentary trustees in 1905. In 1923, pursuant to the will, trustees delivered part of the original trust property, together with other property purchased with trust funds, to plaintiff, the equitable remainderman under the trust. In 1930 plaintiff sold some of the securities which had constituted the corpus of the trust. In determining the cost basis for the capital gains tax on this transaction, plaintiff claimed that the market value on the date when the trustees delivered the property to him in 1923 should …