Law Commons^™

Taxation, James H. Wilson Jr.

Mercer Law Review

The decisions of the Georgia appellate courts and the legislative enactments of the General Assembly of Georgia during the period from June 1, 1949, to June 1, 1950, in the field of taxation reflect in large part the pressing need for thorough revision of the state's tax structure.

Tax Problems Presented By The Tennessee Constitution, Eugene L. Parker Jr.

Vanderbilt Law Review

Although the North Carolina Constitution of 1776 had no specific tax provision, the draftsmen of Tennessee's Constitution of 1796 initiated a standard which reflected the creed of the frontier. These pioneers thought that every free man should contribute something to the support of the government and those with more ability should contribute more. The ability of the citizen was measured by the quantity of land and the number of slaves, which provided roughly a fair differentiation. Everyone had a similar log cabin; one lot in a settlement was worth about the same as another; one cleared acre was the equal …

The Taxable Income Of Cooperatives, Roswell Magill, Allen H. Merrill

Michigan Law Review

This article is a study of the exemption in section 101(12) of "farmers', fruit growers', or like associations organized and operated on a cooperative basis"; and, in particular, of the taxability of the income of such corporations. The basic question is, What is the taxable income of a cooperative, in the absence of statutory exemption or exemption by administrative ruling? Do such business corporations have an income from their businesses which in these days of revenue stringency should be taxed as other business income must be taxed?

Basic Criteria For Distinguishing Revenue Charges From Capital Expenditures In Income Tax Computations, Abe L. Shugerman

Michigan Law Review

In the sections that follow, every effort has been made to deduce the motivating philosophy behind the judicial decisions that have been rendered on this question. Courts, themselves, have never paused to prescribe any detailed criteria to be applied, but an examination of the opinions has revealed that consciously or unconsciously the courts have been moved by such basic criteria. Even though such criteria may not have been precisely designated, they have been present, they have been utilized, and interestingly enough, the courts have been amazingly consistent in their applications of these criteria.

Taxation--Constitutionality Of Tax-Refund Statute, F. R. T.

West Virginia Law Review

No abstract provided.

Real Property-Tax Sales-Title Of Purchaser Of Land Subject To Easement, John J. Gaskell S.Ed.

Michigan Law Review

In an action to enforce a lien for taxes on real property, the defendants counterclaimed, asking for a declaratory judgment as to whether a sale of real property for nonpayment of taxes extinguishes an easement with which the property is burdened. The easement was appurtenant to an adjoining parcel of land. Held, an easement appurtenant is not extinguished by sale of the servient tenement for nonpayment of taxes. District of Columbia v. Capital Mortgage & Title Co., Inc., (D.C. Cir. 1949) 84 F. Supp. 788.

Taxation-Income Tax-Deductions For Expenses Of Army Officer, Daniel A. Isaacson S.Ed.

Michigan Law Review

Respondent, having had experience as an executive of a large machine tool distributing company, went to Washington, D.C. in 1942 at the request of the Ordnance Department of the United States Army to assist in the efficient distribution of machine tools, serving in a civilian capacity without compensation. During the year, he was commissioned in the army, attaining the rank of Lieutenant Colonel, and was assigned to the Army & Navy Munitions Board as Ordnance Officer, in which capacity he had to keep in contact with manufacturers of production equipment as well as with various government agencies. In his income …

Taxation-Stock Dividends As Income, Joseph G. Egan S.Ed.

Michigan Law Review

X corporation had two classes of stock outstanding. The Class A stock was a preferred stock entitled to cumulative dividends and a liquidation preference. The Class B stock was a non-voting stock, entitled to an annual $2 dividend after payment of the dividend on the preferred. Both classes were entitled to participate equally (on a pro rata basis) in any dividends in excess of the two mentioned above. The corporation declared a stock dividend, entitling each Class A holder to one-half share of Class A stock for each share presently held, and each Class B holder to one-half share of …

Some Problems In Federal Question Jurisdiction, George B. Fraser, Jr.

Michigan Law Review

Congress has given the federal district courts original and removal jurisdiction of all civil actions arising under the Constitution or laws of the United States, but the power of these courts to hear such cases has been restricted by the Supreme Court of the United States. The Supreme Court holds that the district courts have jurisdiction of a case if a federal question is raised in the complaint, but jurisdiction cannot be based on a federal question in the answer. This means that the district courts are closed to many cases that involve a substantial federal issue, while many cases …

Jensen: Cooperative Corporate Association Law-1950, William S. Barnes

Michigan Law Review

A review of COOPERATIVE CORPORATE ASSOCIATION LAW-1950. By A. Ladru Jensen and others.

Federal Taxation Sale Of A Partnership Interest - A Capital Gain?

Indiana Law Journal

No abstract provided.

Books Received, Law Review Staff

Vanderbilt Law Review

BOOKS RECEIVED

BUSINESS ORGANIZATION By Alfred F. Conard Brooklyn: The Foundation Press, Inc., 1950. Pp. vii, 661. $7.00.

CASES ON FEDERAL COURTS By Charles T. McCormick and James H. Chadburn Brooklyn: The Foundation Press, Inc., 1950. Pp. 921. $8.00.

CASES AND MATERIALS ON WORLD LAW By Louis B. Sohn Brooklyn: The Foundation Press, Inc., 1950. Pp. 1363. $8.00.

FEDERAL ESTATE AND GIFT TAXATION: CASES AND MATERIALS By William C. Warren and Stanley S. Surrey Brooklyn: The Foundation Press, Inc.,1950. Pp. vii, 518. $7.00.

HATCH ACT DECISIONS By James W. Irwin Washington. United States Government Printing Office, 1949. Pp. v, 304. …

Taxation-Income Tax-Corporation Not Taxable On A Sale Of Property By Stockholders Following Genuine Liquidation Distribution, R. Lawrence Storms S.Ed.

Michigan Law Review

The stockholders of a closely held electric utility corporation offered to sell all the corporate stock to a cooperative competitor. The cooperative countered with an offer to buy a part of the corporation's physical assets. Hoping to avoid a heavy corporate capital gains tax, the stockholders caused the corporation to distribute to them in partial liquidation the property in question, and then executed the previously contemplated sale themselves. The commissioner assessed and collected a capital gains tax from the corporation which then sued and recovered the amount of the tax in the court of claims. On appeal, held, affirmed. …

Taxation--Income Tax-Effect Of Loss Carry--Back On Deficiency Assessment Interest Charges, William R. Worth S.Ed.

Michigan Law Review

In 1943 the Commissioner of Internal Revenue assessed deficiencies against respondent taxpayer in its 1941 income and excess profits taxes, adding interest from the date the tax was properly due to the assessment date. The taxpayer suffered a net operating loss in 1943 sufficient to abate completely all tax liability for 1941. When application for a refund of the amount paid and abatement of the deficiency was made, however, the commissioner deducted the interest assessed from the amount to be returned, claiming that the liability to pay interest on the deficiency was still outstanding. The district court held for the …

The Tax Consequences Of Family Parnerships, T. Baldwin Martin Jr.

Mercer Law Review

The elements of family intimacy and tax reduction, which present themselves conveniently in the common law concepts of gifts, assignments, and trusts, have proven to be danger signs which herald the scrutiny of the Bureau of Internal Revenue and forecast probable tax disaster for the taxpayer. Normally and unavoidably, family partnerships have come to be categorized with these concepts, and the Bureau, in its efforts to protect the revenue, would, with the assistance of the Tax Court, thwart the effectiveness of these business units in a manner similar to the treatment accorded to the aforementioned concepts.

Book Notes And Books Received, Law Review Staff

Vanderbilt Law Review

Book Notes

Labor Relations and Federal Law

By Donald H. Wollett

Seattle: University of Washington Press, 1949. Pp. xxv, 148, 30. $3.00

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Tennessee Personal Injury Fact Digest

Compiled by Eugene McSweeney

Nashville: The Fact Digest Co., 1949. Pp. 124. $5.50

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BOOKS RECEIVED

Cases on Federal Taxation

By Roswell Magill

Brooklyn: The Foundation Press, Inc., 1950. Pp. i, 546. $7.00

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Cases on Trusts

By George Gleason Bogert

Brooklyn: The Foundation Press, Inc., 1950. Pp. i, 1041. $7.50

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Differences in Income for Accounting and Federal Income Tax

By Clarence F. Reimer

Chicago: Commerce Clearing House, 1949. Pp. iii,184. …

The Effect Of Renunciations And Compromises On Death And Gift Taxes, Walter E. Black Jr.

Vanderbilt Law Review

When a man dies, it must be decided how his property shall be distributed. Ordinarily, the distribution will follow his express intention as evidenced in a will or the presumed intention of the state laws of intestacy. In these ordinary situations, the state death tax is applied to the various legacies and devises and to the property passing by descent in the manner provided by the state tax statutes. Thus, the majority of testamentary distributions are carried out without any state death tax problems.

However, in some cases, events occur after the death of the decedent which change the testator's …

Freedom From Uncertainty In Income Tax Exemptions, Maurice Finkelstein

Michigan Law Review

Exemptions from obligations to government are as old as Scripture. It is not strange, therefore, that the public interest in humane government should dictate numerous exemptions from the income tax levy, particularly when one considers that the income tax has long ceased to be simply a revenue producing vehicle. The regulation of inflation or deflation, the control of corporate financial structures, the distribution of wealth, all these and many other concern of government have entered into the formula of our income tax laws. The selection of those who are to be benefited by the tax exemption is, of course, made …

The Case Of The Forgotten Basis: An Admonition To Victims Of Internal Revenue Code Section 115(G), Richard Katcher

Michigan Law Review

It is the purpose of this article to explore the various means available to a victim of section 115(g) for recovering the basis of his cancelled stock and to examine the reasons that may be advanced in support of the conclusion that the victim should be allowed a capital loss deduction measured by the amount of the basis.

Impuestos, Mario Díaz Cruz

Index of Cuban Law and Jurisprudence / Indice a la Legislación y Jurisprudencia Cubana

Notebook. Handwritten annotations.

Review Of Successful Tax Practice, By H. C. Bickford, John W. Reed

Reviews

For some years now, those who came to the bar before federal taxes attained importance have been lamenting their unfamiliarity with the field and the consequent loss of clientele. Not a few clients have joined in the lament, often upon the stimulus of an unexpected and unnecessary tax bill. The bar is aware of the problem, and its attempts to meet it have ranged all the way from tax institutes for interested lawyers to cart-before-the-horse attempts to exclude non-lawyers from practice in the tax field. I suggest that Mr. Bickford's readable book is one of the most promising answers to …

The Function Of Constitutional Provisions Requiring Uniformity In Taxation, W. L. Matthews Jr.

Kentucky Law Journal

No abstract provided.

Carry-Over And Carry-Back Of Net Operating Loss, W. Lewis Roberts

Kentucky Law Journal

No abstract provided.

The Function Of Constitutional Provisions Requiring Uniformity In Taxation, W. L. Matthews Jr.

Kentucky Law Journal

No abstract provided.

Tax Problems Of Revocable Trusts, Byron E. Bronston

Articles by Maurer Faculty

No abstract provided.

Taxation Of Treasury Stock, W. Lewis Roberts

Kentucky Law Journal

No abstract provided.

Taxable Income--Cancellation Of Indebtedness, A. Singleton Cagle

Kentucky Law Journal

No abstract provided.