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Articles 7171 - 7200 of 7506

Full-Text Articles in Tax Law

Taxation Of Stock Transfers Apr 1941

Taxation Of Stock Transfers

Indiana Law Journal

Notes and Comments: Taxation

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Any More Light On Haddock V. Haddock? The Problem Of Domicil In Divorce, Harold Wright Holt Mar 1941

Any More Light On Haddock V. Haddock? The Problem Of Domicil In Divorce, Harold Wright Holt

Michigan Law Review

AT first glance it seems a work of foolhardiness or of supererogation to embark upon a rediscussion of any problems arising from Haddock v. Haddock. True, the decision of the majority of the Supreme Court in that case has not won wholehearted support from the bench or legal profession. True it is, also, that collusive divorces still flourish. These considerations alone might, perhaps, lead the reader to concede that it would not be unfruitful to speculate upon an eventual modification of some of the principles which the Court in that case approved. If, however, further justification is demanded of …

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Rents And Rental Values Taxable As Income, James Morfit Mullen Jan 1941

Rents And Rental Values Taxable As Income, James Morfit Mullen

Maryland Law Review

No abstract provided.

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Información Económica Ante Las Comisiones De Hacienda Y Presupuestos Y De Aranceles E Impuestos De La Cámara De Representantes, Joaquín Martínez Sáenz Jan 1941

Información Económica Ante Las Comisiones De Hacienda Y Presupuestos Y De Aranceles E Impuestos De La Cámara De Representantes, Joaquín Martínez Sáenz

Mario Diaz Cruz Pamphlets

Ante las Comisiones de Hacienda y Presupuestos y Aranceles e Impuestos de la Cámara de Representantes.

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Taxation - Commerce Clause - Tax By Seller State On Contract To Sell Interstate, Walter B. Connolly Jan 1941

Taxation - Commerce Clause - Tax By Seller State On Contract To Sell Interstate, Walter B. Connolly

Michigan Law Review

Appellants were partners in the securities business with offices in New York City. In the course of their business they agreed to sell shares of stock to two firms, one engaged in business in Philadelphia, the other in Washington, D. C. The securities were mailed to banks in Philadelphia and Washington for delivery upon payment of sight drafts attached. Under the tax law of the state of New York, a tax was levied on the sale of this stock. Appellants sought a refund of the tax on the ground that the statute imposed an unconstitutional burden on interstate commerce. Held …

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Taxation - Federal Income Tax - Exemption Of Life Insurance Proceeds When Paid In The Form Of Annuity, Spencer E. Irons Jan 1941

Taxation - Federal Income Tax - Exemption Of Life Insurance Proceeds When Paid In The Form Of Annuity, Spencer E. Irons

Michigan Law Review

A taxpayer was the beneficiary of life insurance policies which required the insurance company to make fifty annual payments of $2,000 each. At the death of the insured in 1917, the commuted value of this obligation was $53,000. Prior to 1934, the taxpayer had received seventeen payments, aggregating $45,473.40, no part of which had been reported as income. For the year 1934, the taxpayer received $2,581.40, of which $2,000 was the annual payment, and $581.40 was an "excess interest" dividend. He again failed to include any of the amount in his gross income. The commissioner determined that under the Revenue …

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Taxation - Income Tax - Insurance - Amounts Received By Stockholders Under Life Insurance Contract, C. V. Beck Jr. Jan 1941

Taxation - Income Tax - Insurance - Amounts Received By Stockholders Under Life Insurance Contract, C. V. Beck Jr.

Michigan Law Review

A corporation took out several policies of insurance on the life of its president, naming itself as beneficiary. Later, reserving the right to hypothecate the policies, it assigned them to a trustee who agreed to distribute the proceeds of the policies to the stockholders of record at the time of the president's death. At the death of the president the proceeds were paid by the insurance companies to the trustee who then paid them pro rata to the stockholders. At this time the corporation had on hand earnings equivalent to the amount of distribution, and there was no showing that …

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Taxation - Federal Income Tax - Intangible Satisfaction From Gift As Income To The Donor, Walter B. Connolly Jan 1941

Taxation - Federal Income Tax - Intangible Satisfaction From Gift As Income To The Donor, Walter B. Connolly

Michigan Law Review

Respondent, the owner of negotiable bonds, detached from them negotiable interest coupons shortly before their due date and delivered them as a gift to his son, who in the same year collected them at maturity. The commissioner of internal revenue ruled that the interest payments were taxable to the respondent donor. The circuit court of appeals reversed the order of the board of tax appeals sustaining the tax. Held, the commissioner was correct in including such interest payments in the taxable income of the donor. Helvering v. Horst, (U.S. 1940) 61 S. Ct. 144.

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Rights Of Purchaser Against Processor--A.A.A. Tax Refunds, J. Granville Clark Jan 1941

Rights Of Purchaser Against Processor--A.A.A. Tax Refunds, J. Granville Clark

Kentucky Law Journal

No abstract provided.

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Income Tax--Assignment Of Right To Renewal Commissions On Certain Life Insurance Policies--To Whom Taxable And When, Clarence Cornelius Jan 1941

Income Tax--Assignment Of Right To Renewal Commissions On Certain Life Insurance Policies--To Whom Taxable And When, Clarence Cornelius

Kentucky Law Journal

No abstract provided.

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Federal Income Tax In Relation To Consumer Cooperatives, Joseph O'Meara Jan 1941

Federal Income Tax In Relation To Consumer Cooperatives, Joseph O'Meara

Journal Articles

The taxation of consumer cooperative associations has proceeded on an erroneous assumption deriving from Eisner v. Macomber. Contrary to that assumption, so long as these non-profit, mutual-benefit undertakings confine themselves to their proper functions they have no income under the Sixteenth Amendment and cannot validly be required to pay an income tax.

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The Use Tax Dec 1940

The Use Tax

Indiana Law Journal

No abstract provided.

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Trusts - Apportionment Of Annual Taxes Between Life Tenant And Remainderman, Charles F. Dugan Nov 1940

Trusts - Apportionment Of Annual Taxes Between Life Tenant And Remainderman, Charles F. Dugan

Michigan Law Review

Annual taxes on real estate in Massachusetts were assessed on January 1 of each year, and were payable on July and October l, The will set up a trust to pay income to the tenant for life, and to pay the principal to the remainderman. The trustees sought to retain sufficient funds out of income to meet the next year's taxes, fearing that the tenant might not live long enough after January 1 to accumulate sufficient income to meet the taxes, and they brought this bill for instructions. The probate court entered a decree sustaining the trustees' contentions. On appeal, …

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Taxation - Income Tax - Interest On Condemnation Award As Capital Gain, John L. Rubsam Nov 1940

Taxation - Income Tax - Interest On Condemnation Award As Capital Gain, John L. Rubsam

Michigan Law Review

Petitioner's land was condemned by the city of New York and as compensation he was awarded a certain sum representing the value of the land and, in addition, a sum classified as "interest" to indemnify the petitioner for delay in payment of the award. The award so classified as "interest" was taxed as "ordinary income" by the commissioner of internal revenue. It was petitioner's contention that such sum denominated as "interest" should have been classed as a "capital gain" and not as "ordinary income." From an order of the board of tax appeals holding this sum "ordinary income," petitioner appealed. …

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Definition And Classification Of Securities Under The Revenue Act, Charles C. Parlin Aug 1940

Definition And Classification Of Securities Under The Revenue Act, Charles C. Parlin

Indiana Law Journal

No abstract provided.

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Must We Carry Our Stocks And Bonds In Our Pockets, Floyd E. Dix Jun 1940

Must We Carry Our Stocks And Bonds In Our Pockets, Floyd E. Dix

Indiana Law Journal

(Being an attempt to follow the reasoning of the Supreme Court of the United States during the past forty years, by which it has for a second time arrived at multiple taxation of intangibles)

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Taxation - Income Tax - Taxability Of Income Of Alimony Trust To Husband-Settlor-Rule Of Douglas V. Willcuts, Benjamin W. Franklin Jun 1940

Taxation - Income Tax - Taxability Of Income Of Alimony Trust To Husband-Settlor-Rule Of Douglas V. Willcuts, Benjamin W. Franklin

Michigan Law Review

Three recent decisions of the Supreme Court of the United States, Helvering v. Fitch, Helvering v. Leonard, and Helvering v. Fuller, all involving an application of the rule of Douglas v. Willcuts, raise the question of what that rule means in its practical application. Stated briefly, that rule is that the income from a so-called alimony trust is taxable to the husband-settlor whenever it discharges a continuing obligation for him.

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Taxation - Income Tax - Improvements Made By Lessee As Income To Lessor, Benjamin W. Franklin Jun 1940

Taxation - Income Tax - Improvements Made By Lessee As Income To Lessor, Benjamin W. Franklin

Michigan Law Review

In 1915, defendant leased a tract of land to X for ninety-nine years. The lease provided that the lessee could remove the old building and replace it; and that on termination, the lessee should surrender the land, buildings and improvements. In 1929, the lessee razed the old structure and erected a new one. On default by the lessee in 1933, the lease was cancelled and defendant repossessed the premises. The commissioner of internal revenue determined that the difference between the fair market value of the new building in 1933 and the unamortized cost of the building razed in 1929 was …

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Trends In Federal Tax Procedure, Frederick L. Pearce May 1940

Trends In Federal Tax Procedure, Frederick L. Pearce

Taxation & Traynor

No abstract provided.

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Taxation - Corporations -Treatment Of Treasury Stock Under The Michigan Privilege Tax Statute, James A. Lee May 1940

Taxation - Corporations -Treatment Of Treasury Stock Under The Michigan Privilege Tax Statute, James A. Lee

Michigan Law Review

The recent Louisiana case of State v. Stewart Brothers Cotton Co., lnc. raises the question of the treatment of treasury stock 2 for franchise or privilege tax purposes. In that case the state statute provided that the base for the franchise tax was the corporation's issued and outstanding capital stock, surplus and undivided profits. Stewart Bros. Cotton Co., Inc., had an authorized capital stock of 10,000 shares; in 1930 it purchased 3,333 1/3 shares of this stock, and did not cancel the shares until 1935. The surplus, which was more than sufficient to allow the corporation to purchase the stock …

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Taxation - Income Tax - Credits - Orphans Maintained In An Orphanage Are Not Dependents Of The Taxpayer Under The Revenue Act Of 1932, Jerome J. Dick May 1940

Taxation - Income Tax - Credits - Orphans Maintained In An Orphanage Are Not Dependents Of The Taxpayer Under The Revenue Act Of 1932, Jerome J. Dick

Michigan Law Review

The petitioner for a number of years had been paying the annual deficit of the St. Francis Industrial School for Orphans. In 1933 she entered into and performed a contract with the orphanage whereby she agreed to pay the maintenance expense of sixty-four named orphans. Petitioner claimed she was entitled to a $400 credit on her income tax return for each of these orphans. Under the Revenue Act of 1932 the credit was allowed for each person dependent upon and receiving his chief support from the taxpayer. Petitioner appealed the decision of the United States Board of Tax Appeals, which …

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Taxation - Jurisdiction - Classification Of Property As Tangible Or Intangible, John L. Rubsam May 1940

Taxation - Jurisdiction - Classification Of Property As Tangible Or Intangible, John L. Rubsam

Michigan Law Review

Respondent's decedent died testate in 1936 and was at the time of his death a resident of and domiciled in Oregon. In earlier years when he resided in Wisconsin he placed various stocks, bonds and other intangibles in the possession of an Illinois trust company, which acted as his agent in collecting and investing the principal and income on these securities. These securities were always physically present in Illinois, never in Oregon. About six months before his death respondent's decedent directed the trust company to sell some of his bonds and purchase $450,000 worth of federal irrevocable trust for the …

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Taxation - Privilege Tax On Foreign Corporations - Due Process And Commerce Clauses - Validity Of Formula, James W. Deer May 1940

Taxation - Privilege Tax On Foreign Corporations - Due Process And Commerce Clauses - Validity Of Formula, James W. Deer

Michigan Law Review

The state of Texas levied an annual franchise tax on all corporations, both foreign and domestic, authorized to do business within the state. The tax was assessed on the basis of the amount of the total capital stock which was allocable to Texas, the allocation being based on the proportion that Texas gross receipts bore to total gross receipts. This formula, as applied to the Ford Motor Company, gave the statutory base of $23,000,000 on which Ford paid the tax under protest. The evidence showed that the Ford Motor Company had only an assembly plant in Texas worth $3,000,000, that …

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Taxation - Income Tax - Liability Of Settlors Of Irrevocable Short Term Trusts, Robert M. Warren Apr 1940

Taxation - Income Tax - Liability Of Settlors Of Irrevocable Short Term Trusts, Robert M. Warren

Michigan Law Review

In a recent significant decision the Supreme Court of the United States has declared that, under certain circumstances, income from irrevocable short-term trusts may be taxed to the settlor. This conclusion is contrary to the previously accepted notion that there was no authority for such a tax under existing provisions of the Revenue Act. In the light of this and other recent decisions the matter of taxation of income from short-term trusts assumes renewed significance.

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Taxation - Federal Income Tax - Distinction Between Sale And Tax Exempt Reorganization Under Section 112, Henry J. Merry Mar 1940

Taxation - Federal Income Tax - Distinction Between Sale And Tax Exempt Reorganization Under Section 112, Henry J. Merry

Michigan Law Review

The recent Supreme Court decision in Le Tulle v. Scofield, disapproving the views of four out of five circuit courts of appeals, appears to add a new and more specific requirement to the already complex law on the subject of statutory reorganization under the Revenue Act of 1928 -- that the consideration received by the transferor corporation include some stock of the transferee corporation. In the subject case, the Gulf Coast Irrigation Company transferred substantially all its assets to the Gulf Coast Water Company in exchange for $50,000 in cash and $750,000 in mortgage bonds, four-fifths of which matured …

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Constitutional Law - Original Jurisdiction Of United States Supreme Court - Availability As A Procedural Remedy To Avoid Multiple Taxation, Benjamin W. Franklin Mar 1940

Constitutional Law - Original Jurisdiction Of United States Supreme Court - Availability As A Procedural Remedy To Avoid Multiple Taxation, Benjamin W. Franklin

Michigan Law Review

The state of Massachusetts instituted an original proceeding against the state of Missouri and individual citizens of Missouri for leave to file a bill of complaint, alleging that M. B. Blake died domiciled in Massachusetts; that she had created three trusts of securities, reserving a power of revocation over two; that the securities were held in Missouri where the trustees resided; that both states had statutes subjecting to taxation property passing by deed, grant or gift, made or intended to take effect in possession or enjoyment after the donor's death; that the Massachusetts statute taxed intangible property only when owned …

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Consumer Sales Tax--What Service Taxable, J. L. G. Jr. Feb 1940

Consumer Sales Tax--What Service Taxable, J. L. G. Jr.

West Virginia Law Review

No abstract provided.

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Criminal Law And Procedure - Statute Of Limitations - Income Tax Prosecution, Michigan Law Review Feb 1940

Criminal Law And Procedure - Statute Of Limitations - Income Tax Prosecution, Michigan Law Review

Michigan Law Review

Defendant was indicted for wilfully attempting to evade and defeat payment of part of his income tax for the taxable year 1930 by filing a false return in violation of the Revenue Act of 1928. A motion to quash was entered because the indictment had not been found and returned within six years of the alleged commission of the offense. The indictment had been actually found and filed six years and one hundred sixty-six days from the day upon which the return was filed. Defendant was absent from the district on various business and pleasure trips for more than the …

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Intergovernmental Tax Immunity: Do We Need A Constitutional Amendment?, Robert C. Brown Jan 1940

Intergovernmental Tax Immunity: Do We Need A Constitutional Amendment?, Robert C. Brown

Articles by Maurer Faculty

No abstract provided.

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Administrative Law - Taxation - Power Of Board To Adopt Rules And Regulations - Inflexibility Of Prior Ruling By Reenactment Of Statute Without Change, William F. Anderson Jan 1940

Administrative Law - Taxation - Power Of Board To Adopt Rules And Regulations - Inflexibility Of Prior Ruling By Reenactment Of Statute Without Change, William F. Anderson

Michigan Law Review

The respondent oil company in computing its net income for the years 1929-1930 for the purpose of applying the depletion deduction provisions of the Revenue Act of 1928 refused to deduct certain development expenditures, although it had deducted those development expenditures in computing its taxable net income for these years. Under the rule-making power of section 23 (1) of that act, the commissioner defined "net income of the taxpayer" as used in section 114 (b)(3) as meaning gross income from the sale of gas and oil less certain deductions, including development expenses (if the taxpayer had elected to deduct development …

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