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Full-Text Articles in Tax Law
Taxation - Jurisdiction To Tax - Multiple Taxation Of Intangibles, Richard Brawerman
Taxation - Jurisdiction To Tax - Multiple Taxation Of Intangibles, Richard Brawerman
Michigan Law Review
In two recent decisions of the United States Supreme Court, Curry v. McCanless, and Graves v. Elliott, a majority of the justices refused to adhere to the doctrine that the Fourteenth Amendment prohibits taxation of intangibles by more than one state, and subscribed instead to the view that control and benefit are together the only test of jurisdiction of the states to tax. In Curry v. McCanless, the decedent, a resident of Tennessee, had created a trust of intangibles, reserving control over the income during her life and power to revoke the trust by will. The trust …
Taxation-Income Tax -Jurisdiction -Trusts - State Tax On Resident Beneficiary's Net Income From Trust Established And Administered By Non-Resident Trustee, Allan A. Rubin
Michigan Law Review
The state of Virginia imposed an income tax upon the income received by a resident of Virginia as beneficiary of a discretionary trust established and administered in New York by a resident of New York, which state had levied and collected an income tax on the entire income of the trust fund. Petitioner protested the payment of the Virginia tax, alleging the taking of property without due process of law and the denial of equal privileges in contravention of the Fourteenth Amendment of the Federal Constitution. Held, that the tax was valid, since it was ascertained by the beneficiary's …