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Tax Law

University of Michigan Law School

1949

Articles 1 - 9 of 9

Full-Text Articles in Law

Accrual Problems In Tax Accounting, Alfred E. Holland Dec 1949

Accrual Problems In Tax Accounting, Alfred E. Holland

Michigan Law Review

Quite frequently at the end of a taxable year some uncertainty qualifies the eventual payment or receipt of an obligation. An obligor may refuse to pay the debt for any number of reasons. There may be disagreement as to the amount which is due; the obligation may not appear collectible; or there may be some other contingency which makes eventual receipt or payment appear uncertain at the time. This uncertainty presents a problem to the taxpayer when he closes his books at the end of the year. Should such an uncertain item be entered on the books as income for …

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Taxation-Income Tax-Income From Discharge Of Indebtedness, R. V. Ehrick Jun 1949

Taxation-Income Tax-Income From Discharge Of Indebtedness, R. V. Ehrick

Michigan Law Review

In 1925 taxpayer obtained a loan of $90,000 from a bank, executing in return 200 bonds secured by a mortgage on certain of his property. The bank sold the bonds to the public. Until 1932 taxpayer was able to pay the interest and retire the bonds according to schedule, but in that year, compelled by a "straitened" (but solvent) financial condition, he obtained an extension of interest and principal payments. During 1938, 1939 and 1940 (prior to maturity) taxpayer repurchased a portion of the bonds at considerably less than face value, some of the purchases being made through a bondholders' …

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Taxation-Federal Estate Tax-Transfers Of Life Insurance In Contemplation Of Death, Ralph E. Hunt S. Ed. Apr 1949

Taxation-Federal Estate Tax-Transfers Of Life Insurance In Contemplation Of Death, Ralph E. Hunt S. Ed.

Michigan Law Review

Insurance policies on the life of a decedent are ordinarily included in his gross estate according to the provisions of section 811 (g) of the Internal Revenue Code. Where the policy is payable to a beneficiary other than the executor, it is taxable under section 811(g)(2): (1) if the decedent paid premiums on the policy, in proportion to the amount of premiums paid by him in relation to the total premiums paid, or (2) if the decedent possessed at his death any of the incidents of ownership. However, these provisions are not exclusive; even though section 811 (g) is inapplicable, …

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Trade Regulation-State Fair Trade Acts And Supplementary Federal Legislation, Earl R. Boonstra Apr 1949

Trade Regulation-State Fair Trade Acts And Supplementary Federal Legislation, Earl R. Boonstra

Michigan Law Review

The state Fair Trade Acts and the federal Miller-Tydings Act were enacted for the avowed purpose of exempting vertical price fixing contracts from the federal and state anti-trust laws. This legislation followed several court decisions which had declared resale price maintenance agreements unlawful trade restraints. The first Fair Trade Act was enacted by California in 1931, and by 1941 all but four jurisdictions had passed similar legislation. In 1936, the United States Supreme Court upheld the constitutionality of the California and Illinois acts on the broadest of grounds; and while the Miller-Tydings Act has not been passed upon, its constitutionality …

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Conflict Of Laws-Enforcing Tax Laws Of Sister States, Bernard L. Trott S. Ed. Apr 1949

Conflict Of Laws-Enforcing Tax Laws Of Sister States, Bernard L. Trott S. Ed.

Michigan Law Review

In the recent case City of Detroit v. Proctor, the defendant, a resident of Detroit, was owner of personal property located there in the year 1939. The city levied a tax on this property, which tax became a debt under the laws of Michigan on the first day of April, 1939, and became due and · payable on the 15th of July, 1939. During the month of June, 1939, the defendant removed both his person and his property from the state of Michigan and has since resided elsewhere. The treasurer of the city of Detroit, who is empowered by …

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Competitive Operation Of Municipally And Privately Owned Utilities, Charles M. Kneier Mar 1949

Competitive Operation Of Municipally And Privately Owned Utilities, Charles M. Kneier

Michigan Law Review

Public utility services for cities are usually provided on the principle of regulated monopoly. It has been found that by the very nature of the utility business, better service can be had and at cheaper rates by the use of one supplier rather than by the use of competing plants: This one plant having a monopoly of the business may be either privately or municipally owned. If the service is furnished by a privately owned utility, regulation is usually by a state commission, but in a few states regulation is still largely by the city in which the company operates. …

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Stanley And Kilcullen: The Federal Income Tax: A Guide To The Law., Michigan Law Review Mar 1949

Stanley And Kilcullen: The Federal Income Tax: A Guide To The Law., Michigan Law Review

Michigan Law Review

A Review of THE FEDERAL INCOME TAX: A GUIDE TO THE LAW. By Joyce Stanley and Richard Kilcullen.

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Tax Practitioners Forum, Michigan Law Review Mar 1949

Tax Practitioners Forum, Michigan Law Review

Michigan Law Review

A Review of TAX PRACTITIONERS FORUM

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Review Of Cases And Materials On Taxation, 2nd Ed., By P. W. Bruton, John W. Reed Jan 1949

Review Of Cases And Materials On Taxation, 2nd Ed., By P. W. Bruton, John W. Reed

Reviews

This is a better book than Professor Bruton's first edition. It is a different book, too; substantial and useful revision is apparent, not only in the selection of recent materials but also in the arrangement of those materials. As taxation casebooks go, one must agree that this is a well executed opus.

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