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Full-Text Articles in Law
Taxation - Delinquency Statute - Constitutionality Of Provision Remitting Back Taxes
Taxation - Delinquency Statute - Constitutionality Of Provision Remitting Back Taxes
Michigan Law Review
Mandamus proceedings were begun to compel a county auditor to accept four-fifths of the taxes as originally assessed on certain land in full payment and discharge of those taxes for the years 1929 and 1930, in accord with the tax remission provision of Minnesota Laws 1933, c. 414, sec.1. Held, that allowing discharge of past taxes during the redemption period by payment of a fraction of those originally assessed was contrary to the uniformity clause of the state constitution as an unreasonable and arbitrary classification, since it resulted in allowing a lower tax rate to delinquent taxpayers than was …
Eminent Domain --Valuation Of Leaseholds -- Apportionment Of Award Between Landlord And Tenant In Long-Term Lease
Michigan Law Review
The Michigan Supreme Court had before it last fall a very unusual case involving the apportionment of a condemnation award between landlord and tenant. Only a portion of the leasehold premises was condemned. The lease still had approximately eighty years to run; it had no market value due primarily to the depression; and it constituted the sole assets of the lessee. The lease contained a clause. providing for rent abatement in case part of the premises was condemned. The lessors insisted that the lessee must be content with this rent abatement and that they were entitled to the whole award. …
Taxation - Assessment For Property Taxes
Taxation - Assessment For Property Taxes
Michigan Law Review
In 1926 the plaintiff purchased a lot with the building thereon for $41,000 and expended $ 10,000 in the improvement of the premises. In the same year the property was leased for a period of fifteen years under an agreement that the rent was to be $6,000 for the first five years, $8,000 for the second five, and $10,000 for the third. Plaintiff objected to the tax assessment of $68,660 for the years 1929, 1930, 1931, and 1932 on the grounds that the court based its valuation on (1) actual earnings instead of earning capacity, and on (2) gross, as …
Corporations-State Privilege Taxes-Valuation Of Property To Determine Surplus
Corporations-State Privilege Taxes-Valuation Of Property To Determine Surplus
Michigan Law Review
Various bases have been evolved in this country for computing corporation privilege taxes. Of special interest is the fact that seven states have made corporate surplus together with capital the basis for such taxes - Louisiana, Michigan, Mississippi, Missouri, North Carolina, Ohio, and Texas. The statutes of these states adopt either the gross value or the net value of the assets of corporations as the foundation of the tax, depending upon whether or not liabilities may be deducted. In fixing the amount of such a tax, some valuation of corporate property to determine the corporation's surplus is necessary.