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Articles 421 - 450 of 500
Full-Text Articles in Tax Law
Bases Of Jurisdiction In State Taxation Of Inheritances And Property, Charles L.B. Lowndes
Bases Of Jurisdiction In State Taxation Of Inheritances And Property, Charles L.B. Lowndes
Michigan Law Review
Theoretically there is an accepted distinction between jurisdiction to exact an inheritance tax and a property tax. Is this distinction of practical significance? Does it influence a court in the concrete decision of a case?
Constitutional Law-Former Jeopardy-As Bar To Civil Suit For Penalty Tax
Constitutional Law-Former Jeopardy-As Bar To Civil Suit For Penalty Tax
Michigan Law Review
The respondent had been convicted and punished in a criminal prosecution for dealing in intoxicating liquors. In a civil action for the collection of taxes imposed as a penalty for non-payment of taxes due because of those particular sales, held, the prior conviction of the defendant constituted a bar to this civil suit for a penalty as double jeopardy even under sec. 5 of the Willis Campbell Act. United States v. LaFranca, U. S. Sup. Ct. Feb. 24, 1931; Adv. Op. No. 74.
Federal Practice--Unconstitionality Of A State Statutye-Requirement Of A Three-Judge Court
Federal Practice--Unconstitionality Of A State Statutye-Requirement Of A Three-Judge Court
Michigan Law Review
The plaintiff corporation applied for a preliminary injunction in a suit to restrain the collection of a state franchise tax on the ground that the tax law was unconstitutional under the federal Constitution. After the complaint had been filed and a temporary restraining order had been granted, the defendant moved to dismiss the bill for want of equity, and upon a hearing of the motion the bill was dismissed. The plaintiff then appealed to the circuit court of appeals where the law was held to be unconstitutional and the judgment was reversed. Held, the single judge had no jurisdiction …
Review: Saving Taxes In Drafting Wills And Trusts, E. B. Stason
Review: Saving Taxes In Drafting Wills And Trusts, E. B. Stason
Michigan Law Review
A Review of: SAVING TAXES IN DRAFTING WILLS AND TRUSTS By Joseph J. Robinson.
Taxation-Excise Measured By Income From Copyrights
Taxation-Excise Measured By Income From Copyrights
Michigan Law Review
Plaintiff, a New York corporation, brought a bill to enjoin the Attorney-General of New York and others from collecting under a New York statute a tax levied "for the privilege of exercising its franchise in this state in a corporate or organized capacity," and measured by "income from any source," which had been interpreted to include income derived from copyrights, on the ground that the statute, as applied, infringed the federal Constitution. Held, three judges dissenting, that the tax was an excise tax levied for the privilege of doing business in a corporate capacity and that a constitutionally permissible …
Landlord And Tenant-Liability For Taxes
Landlord And Tenant-Liability For Taxes
Michigan Law Review
Defendant, a lessee, covenanted to pay all taxes assessed against the property. After having been transferred to several parties successively, the lease was surrendered on April 7, 1928, to the original lessor, under an agreement providing that, "the original lessee, and its assigns, shall be released from all further obligations imposed upon lessee in said lease contract." Taxes which had become a. lien. on the property by assessment Jan. 1, 1928, were due in three equal installments payable the following April 15th, July 15th, and Oct. 15th, respectively, Upon the failure of the original lessee to pay the taxes, the …
Corporations-Subsidiary's Evasion Of Income Tax Law By Contract With Parent Company-Income Attributable To Business Transacted Within The State
Michigan Law Review
The Palmolive company sought to reduce to a minimum the amount of its income taxable in Wisconsin. Three companies were formed which, for convenience' sake, will be designated as: parent company, a Delaware corporation; plaintiff company, a Delaware corporation; and Wisconsin company, a Wisconsin corporation. The parent company acquired all the capital stock of the Wisconsin company, and then acquired all its assets outside the state of Wisconsin, surrendering therefor part of the stock of the Wisconsin company so acquired. The balance of the capital stock of the Wisconsin company the parent company transferred to plaintiff company in exchange for …
Corporations-Tax Upon Extension Or Renewal Of Corporate Term
Corporations-Tax Upon Extension Or Renewal Of Corporate Term
Michigan Law Review
Plaintiff, its period of corporate existence expiring in May, 1929, proceeded to extend its life, as provided by law, for another 30 years. The general corporation statute required a corporation, upon filing its annual report, to pay a privilege fee for exercising its franchises. It provided, however, that if the corporation was organized in the instant year between January 1 and August 31, it need pay only a filing fee and a privilege fee of ten dollars. By amendment in 1929, it was declared that a corporation seeking extension of corporate existence "should be regarded as a new corporation for …
Receivers-Penalties On Taxes
Michigan Law Review
The recent case of McCormick v. Puritan Coal Mining Co. presents the question whether penalties and interest continue to accrue on delinquent taxes after the date of the appointment of a receiver. The court determined the question in the negative, supporting its decision by authorities which hold that interest does not ordinarily accrue on the debts of an insolvent after the date of the appointment of a receiver. The decision is directly contrary to the established rule that tax penalties and interest continue to accrue, notwithstanding the property has passed into the hands of a receiver.
Constitutional Law-Due Process-Statutory Interpretation As Judicial Legislation
Constitutional Law-Due Process-Statutory Interpretation As Judicial Legislation
Michigan Law Review
Plaintiff brought suit in Missouri to enjoin collection of taxes alleged to be discriminatory, basing his claim for equitable relief on the absence of any other remedy. The supreme court of Missouri dismissed the bill, without hearing on the substantive question, on the ground that there existed, under a state statute, an adequate remedy in appeal to the state tax commission. Previously the court had denied, in several cases, that the statute gave such a right, and had allowed equitable relief in one case on that ground. When the decision in the principal case was rendered, it was too late …
Cooperative Associations And The Public, John Hanna
Cooperative Associations And The Public, John Hanna
Michigan Law Review
The American Institute of Cooperation at its first summer meeting in Philadelphia in 1925, devoted many hours to a consideration of the definition of agricultural cooperation. Even at that time cooperative associations had been described, if not defined, by federal legislation. The Bureau of Internal Revenue, the War Finance Corporation and the Intermediate Credit Banks, had also been compelled on numerous occasions to decide whether or not a particular association was entitled to the privileges accorded cooperatives. A determination of the nature of a cooperative was implied in the standard marketing acts adopted in nearly all of the American states. …
Effect Of Tax Exemption And Tax Refunding Provisions On The Negotiability Of Corporate Bonds
Effect Of Tax Exemption And Tax Refunding Provisions On The Negotiability Of Corporate Bonds
Michigan Law Review
The Connecticut court in a series of recent cases has cast considerable doubt on the negotiability of bonds containing provisions for payment without deduction for taxes and for refunding of personal property taxes paid by the holder on account of the instrument. In Mechanic's Bank v. Johnson it held a promissory note containing a promise to pay taxes assessed against the instrument non-negotiable on the ground that the amount was uncertain. In Mazurkiewicz v. Dowholonek it held unconstitutional an act, passed after the earlier decision, establishing the negotiability of such instruments already in circulation, on the ground that it impaired …
Taxation-Jurisdiction To Tax Intangibles
Taxation-Jurisdiction To Tax Intangibles
Michigan Law Review
Until recently the fact that one state had jurisdiction to tax intangibles was no basis for asserting that another state did not, there being apparently no constitutional impediment to double taxation. Nor did the fact that a state lacked jurisdiction to tax property in intangibles necessarily imply an absence of power to tax succession to that property. Both doctrines have been repudiated by the United States Supreme Court in Farmer's Loan & Trust Co. v. Minnesota and Baldwin v. Missouri, decided during the last term.
Taxation-Exemption Of Sovereign Instrumentality-Effect Of Imposing Tax
Taxation-Exemption Of Sovereign Instrumentality-Effect Of Imposing Tax
Michigan Law Review
Plaintiff corporation brought suit against the collector of internal revenue for federal income taxes paid under protest. The taxes were assessed upon the net income derived from the sale of oil and gas produced on lands which the plaintiff held under lease from the state of Texas. A legislative act provided for the leasing of the lands to further the development of their natural resources, the lessees paying a royalty on oil and gas. The statutory leases had been previously held to constitute a sale of the minerals. Theisen v. Robison, 117 Tex. 489, 8 S.W. (2d) 646. The statute …
Taxation Inheritance-Computation Of Gain On Property Acquired From Estate-Date Of Acquisition
Taxation Inheritance-Computation Of Gain On Property Acquired From Estate-Date Of Acquisition
Michigan Law Review
Plaintiff was residuary legatee under the will of his father who died in 1918. The estate was administered and closed in 1920 and certain stocks and bonds were then delivered to plaintiff. Subsequently he sold the securities and in making his federal income tax return he computed his gain on the basis of 1920 values which were higher than the 1918 values. The Revenue Act of 1921 sec. 202 (a) (3), 213 provides that for the purpose of determining profit or loss from sale of property acquired by bequest, devise or descent since Feb. 28, 1913, the basis "shall he …
Taxation-Transfer Tax On Death Of Settlor Of Trust Wherin Income Was Reserved
Taxation-Transfer Tax On Death Of Settlor Of Trust Wherin Income Was Reserved
Michigan Law Review
Section 401, Revenue Act of 1918 provided that in order to determine the transfer tax, there should be included in the gross estate "any interest therein of which the decedent has at any time made a transfer, or with respect to which he has at any time created a trust, in contemplation of or intended to take effect in possession or enjoyment at or after his death * * *." The decedent transferred to her husband and others, as trustees, securities in trust to collect the income and pay the balance after discharging expenses to the husband for life, after …
Review: Selected Cases On The Law Of Taxation
Review: Selected Cases On The Law Of Taxation
Michigan Law Review
A review of SELECTED CASES ON THE LAW OF TAXATION By Henry Rottschaefer.
Recent Important Decisions
Michigan Law Review
A collection of recent important court decisions.
Taxation-Constitutional Law-Classifcation Of Corporations
Taxation-Constitutional Law-Classifcation Of Corporations
Michigan Law Review
The equal protection clause does not detract from the right of the state justly to exert its taxing power or prevent it from adjusting its legislation to differences in situation or forbid classification in that connection, but it does require that the classification be not arbitrary, but based on a real and substantial difference having a reasonable relation to the subject of the particular legislation. Though this is the generally accepted rule as to classification, it has long been recognized by the Supreme Court that the very nature of taxation demands that the legislatures be given the widest sort of …
Recent Important Decisions
Michigan Law Review
A collection of recent important court decisions.
When The Importer Is A State University, May The Government Collect A Duty?, Sweinbjorn Johnson
When The Importer Is A State University, May The Government Collect A Duty?, Sweinbjorn Johnson
Michigan Law Review
The Tariff Act of 1922 has raised a question which may turn out to be one of great importance as well as one of unusual interest. It appears that in previous acts exemptions were granted, more or less general, in favor of schools, libraries and educational institutions with the result that on imports for their use no duties were levied or collected. In the law of 1922, however, no such exemptions appear, and the customs officers throughout the country have required state universities to pay a duty when the title passed abroad and the articles imported by them were intended …
The Status Of A Municipal Corporation Organized Under An Unconstitutional Statute, Oliver P. Field
The Status Of A Municipal Corporation Organized Under An Unconstitutional Statute, Oliver P. Field
Michigan Law Review
A municipal corporation has governmental as well as proprietary functions to perform. It differs from a private corporation in that its primary functions are governmental. Municipal corporations are usually spoken of as legal persons, or entities, in the same sense that private corporations are, but in studying them it must always be borne in mind that the main purpose for which most of them are created is that they may perform certain governmental functions.
Taxation-Situs Of Intangibles For Succession Tax
Taxation-Situs Of Intangibles For Succession Tax
Michigan Law Review
Decedent died domiciled in Connecticut, leaving as part of his estate, bonds and treasury certificates of the United States, which at the time of his death, and for a long time prior thereto had been physically placed and kept in safety deposit vaults in New York city, and had never been in Connecticut. The superior court of Fairfield county, on the advice of the supreme court of errors of Connecticut held that the bonds and certificates were not subject to a succession tax in Connecticut at the domicil of the decedent. The supreme court reached its decision by applying its …
Recent Important Decisions
Michigan Law Review
A collection of recent important court decisions.
Remedies For Wrongful Action In The Levy And Enforcement Of Taxes
Remedies For Wrongful Action In The Levy And Enforcement Of Taxes
Michigan Law Review
Although there is a distinct policy in favor of prompt and efficient procedure for the levy and collection of taxes, unhindered by judicial "red tape," yet the government cannot exercise its power so as to deprive the taxpayer of his property without due process of law. What are the taxpayer's remedies against wrongful action on the part of those in charge of tax administration? How may due process of law be secured to him in tax administration matters? The purpose of this note is to review some of the principal remedies, with especial reference to the equitable remedy of injunction, …
Taxation-May A Stats Levy A Tax On Acts Done Outside The State?
Taxation-May A Stats Levy A Tax On Acts Done Outside The State?
Michigan Law Review
Beginning with the great case of Union Transit Co. v. Kentucky, the Supreme Court has steadily advanced the principle that a state lacks power to tax property located out of the state. But the law, as to taxation of acts done out of the state, has not been so well worked out. It is believed that a recent decision of the court is of importance in this field. But first, a very brief review will be made of the more important cases marking steps in the working out of the problem.
Recent Important Decisions
Michigan Law Review
A collection of recent important court decisions.
When Revocable Trusts Are Subject To An Inheritance Tax, Edward M. Stimson
When Revocable Trusts Are Subject To An Inheritance Tax, Edward M. Stimson
Michigan Law Review
A settlor transferred property to trustees upon trust to pay the income to himself during life and after his death to his children and, ultimately, to divide the principal. The settlor reserved a power to revoke the trust and also to change its terms. Subsequently a law was passed taxing successions, i.e., all transfers by will or inter vivos, "made or intended to take effect in possession or enjoyment after the death of the grantor or donor."