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Full-Text Articles in Tax Law

Recent Developments And Tendencies In The Taxation Of Intangibles, Robert L. Howard Sep 1931

Recent Developments And Tendencies In The Taxation Of Intangibles, Robert L. Howard

University of Missouri Bulletin Law Series

In the decision of Union Refrigerator Transit Co. v. Kentucky, the Supreme Court of the United States in 1905 definitely set at rest the proposition that tangible personal property having acquired a permanent situs in another state is not subject to taxation in the state of the owner's domicile. Since that time comparatively little difficulty has been encountered in the taxation of tangibles, though it was not until 1925 that the full scope of this doctrine was applied to inheritance taxation as distinguished from property taxes in the case of Frick v. Pennsylvania. The maxim mobilia sequuntur personaim, having thus …

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The Validity Of A State Tax Upon The Coming Into Possession And Enjoyment Of A Vested Remainder, Robert C. Brown Jun 1931

The Validity Of A State Tax Upon The Coming Into Possession And Enjoyment Of A Vested Remainder, Robert C. Brown

Indiana Law Journal

No abstract provided.

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Constitutional Law-Taxation Jun 1931

Constitutional Law-Taxation

Indiana Law Journal

No abstract provided.

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The Liability For Taxes And Assessments Between Vendor And Purchaser Jun 1931

The Liability For Taxes And Assessments Between Vendor And Purchaser

Michigan Law Review

This note is concerned with the rights and duties, inter se, of vendor and purchaser with respect to the burden of taxation. The problem presents itself in the simplest form when it arises in a suit for specific performance, the question being whether the contract obligated vendor to remove the lien of certain taxes (or allow the purchaser a credit against the purchase price), or, on the other hand, obligated purchaser to pay the whole price for the encumbered land (or pay vendor, in addition to purchase price, the amount of tax previously paid by the latter). The question …

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Deeds-Delivery In Escrow-Effect On Income Tax Jun 1931

Deeds-Delivery In Escrow-Effect On Income Tax

Michigan Law Review

A taxpayer, by written contract, had agreed to sell a 99-year leasehold for $195,000. $50,000 was to be paid in 1920, and the balance in 1921. The first payment was made in October, 1920, and a deed put in escrow, to be handed to the grantee on payment of the balance. The transaction was fully carried out as per contract, and the taxpayer was assessed income tax on the entire $195,000 as of 1920. Held, the deed having been delivered in escrow, the title relates back to the original delivery on performance of the condition, showing a completed transaction …

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Taxation-Retrospective Succession Tax On Trust Remainder Jun 1931

Taxation-Retrospective Succession Tax On Trust Remainder

Michigan Law Review

The settlors voluntarily placed property in trust, the income from which was to be paid to them during their lives, the corpus to be divided upon the surviving settlors' death, among their sons, or if any son predeceased the survivor, among those persons entitled to take his intestate property. Subsequently the settlors assigned their life interest to the sons; this conveyance, however, in the case of Coolidge v. Loring, 235 Mass. 220, 126 N.E. 276, was held ineffectual to eliminate the possible effect of the contingency of any son predeceasing the surviving settlor. Between the execution of the deed …

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Taxation-Situs Of Documents For Stamp Tax Jun 1931

Taxation-Situs Of Documents For Stamp Tax

Michigan Law Review

A South Carolina corporation had established credit with certain banks domiciled in other states, and, whenever a loan was desired, had executed a note payable to and at the out-of- state bank. The notes were mailed to the bank subject to withdrawal and revocation by the corporation, until actually received and accepted by the bank. When paid the notes were cancelled and returned to the corporation. A state tax collector ascertained that no stamp tax had been paid on these notes as required in South Carolina Acts of 1928, c. 574, sec. 1, and threatened to levy on the property …

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Bases Of Jurisdiction In State Taxation Of Inheritances And Property, Charles L.B. Lowndes May 1931

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?

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Constitutional Law-Former Jeopardy-As Bar To Civil Suit For Penalty Tax May 1931

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.

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Federal Practice--Unconstitionality Of A State Statutye-Requirement Of A Three-Judge Court May 1931

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 …

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Review: Saving Taxes In Drafting Wills And Trusts, E. B. Stason Apr 1931

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.

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New Decisions On Taxation In Inter-Governmental Relations, Robert C. Brown Apr 1931

New Decisions On Taxation In Inter-Governmental Relations, Robert C. Brown

Indiana Law Journal

No abstract provided.

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Taxation--Trusts--Interest Of One Entitled To Receive Income For Life From Trust Fund, John Hampton Hoge Apr 1931

Taxation--Trusts--Interest Of One Entitled To Receive Income For Life From Trust Fund, John Hampton Hoge

West Virginia Law Review

No abstract provided.

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Taxation-Excise Measured By Income From Copyrights Apr 1931

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 …

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Landlord And Tenant-Liability For Taxes Mar 1931

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 …

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Corporations-Subsidiary's Evasion Of Income Tax Law By Contract With Parent Company-Income Attributable To Business Transacted Within The State Mar 1931

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 …

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Corporations-Tax Upon Extension Or Renewal Of Corporate Term Mar 1931

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 …

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Taxation Of National Bank Shares, C. Severin Buschmann Feb 1931

Taxation Of National Bank Shares, C. Severin Buschmann

Indiana Law Journal

No abstract provided.

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Ley De Emergencia Económica Y De Tributación Fiscal, República De Cuba. Senado Jan 1931

Ley De Emergencia Económica Y De Tributación Fiscal, República De Cuba. Senado

Mario Diaz Cruz Pamphlets

Aprobada por el Congreso para la solución de la crisis económica de 1930-1931 y en el que se comprende todo el plan de exacción que rige para el estado con su vigencia. 26 de Enero de 1931.

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La Nueva Tributación Fiscal, República De Cuba. Senado Jan 1931

La Nueva Tributación Fiscal, República De Cuba. Senado

Mario Diaz Cruz Pamphlets

Ley de emergencia económica y los reglamentos para la administración y cobranza del impuesto general sobre utilidades a que se contrae el capítulo sexto de la Ley de 29 de enero de 1931.

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The Taxation Of Indian Property, Robert C. Brown Jan 1931

The Taxation Of Indian Property, Robert C. Brown

Articles by Maurer Faculty

No abstract provided.

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Receivers-Penalties On Taxes Dec 1930

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.

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Constitutional Law-Due Process-Statutory Interpretation As Judicial Legislation Dec 1930

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 …

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Cooperative Associations And The Public, John Hanna Dec 1930

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. …

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Effect Of Tax Exemption And Tax Refunding Provisions On The Negotiability Of Corporate Bonds Nov 1930

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 …

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The Indiana Tax Survey Committee It's Purpose And Program, J. Clyde Hoffman Nov 1930

The Indiana Tax Survey Committee It's Purpose And Program, J. Clyde Hoffman

Indiana Law Journal

No abstract provided.

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Taxation-Jurisdiction To Tax Intangibles Nov 1930

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.

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Taxation-Exemption Of Sovereign Instrumentality-Effect Of Imposing Tax Nov 1930

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 …

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Taxation Inheritance-Computation Of Gain On Property Acquired From Estate-Date Of Acquisition Nov 1930

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 …

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Taxation-Transfer Tax On Death Of Settlor Of Trust Wherin Income Was Reserved Nov 1930

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 …

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