Taxation-Federal Commons^™

Ley Numero 7 Sobre Ampliación Tributaria De 5 De Abril De 1943, República De Cuba. Senado

Mario Diaz Cruz Pamphlets

Publicada en la Gaceta Numero 192, Primera Edicion de Abril 6 de 1943.

Estableciendo y modificando Impuestos con destino al pago de las gratificaciones y otras erogaciones constitucionales.

Ley Núm. 7 Sobre Ampliación Tributaria De 5 De Abril De 1943, República De Cuba. Senado.

Mario Diaz Cruz Pamphlets

Publicada en la Gaceta Número 192, Primera Edición de Abril 6 de 1943.

Taxation - Federal Gift Tax - Integration With Income Tax, Katherine Kempfer

Michigan Law Review

Beck in 1935 created an irrevocable funded insurance trust of $172,000 in securities together with seven policies of insurance on his life. The income from the securities was to be applied to pay the premiums on the policies and any surplus was to be distributed to his wife and daughter. At grantor's death the proceeds of the policies were to be added to the corpus of the trust and all income was to go to the same beneficiaries for life with remainders over. There was no possibility of reverter in the grantor and no right to alter, modify or revoke …

Taxation Of Annuity Contracts Under Federal Income Tax, Robert Meisenholder

Michigan Law Review

A number of questions dealing with the taxability of commercial annuity policies under death tax statutes have received judicial consideration. By contrast, only a few questions dealing with the taxability of these contracts under income tax laws have been raised before the courts. But the income tax problems are equally important in terms of tax liability. Moreover, they will in the future assume an even larger significance in view of the large number of annuity contracts of various types which have been issued and are now being offered by insurance companies. Accordingly some explanation of these problems is warranted.

Taxation - Federal Income Tax - Constructive Receipt Of Income By Lessor Corporation When Rents Paid Directly To Lessor's Stockholders, William H. Shipley

Michigan Law Review

In 1864 the Joliet and Chicago Railroad Company made a perpetual lease without a defeasance clause of all of its property to another railroad company. Under the state law, the lease was a conveyance in fee. The lessee agreed to pay as rental an annual dividend of seven dollars a share on the then outstanding stock of the lessor, these payments to be made directly to the shareholders. The dividends paid by the lessee for the years 1931 to 1934 were taxed as income to the lessor, who now sues to recover the tax. Held, payments to the lessor's …

Book Review. Federal Taxation For The Lawyer By Houstin Shockey, Ritchie Gilruth Davis

Articles by Maurer Faculty

No abstract provided.

The Present Status Of Multiple Taxation Of Intangible Property, Robert C. Brown

Articles by Maurer Faculty

No abstract provided.

Book Review. Federal Estate And Gift Taxation By Randolph E. Paul, Robert C. Brown

Articles by Maurer Faculty

No abstract provided.

Federal Taxation Of Insurance Trusts, Allan F. Smith

Michigan Law Review

The life insurance trust may take many forms and serve a variety of purposes, but for present purposes it may be defined as a trust, at least part of the corpus of which is a policy of life insurance, in which the duty of the trustee is to receive the proceeds of such policy and administer such proceeds as a trust. Such a trust, like any other, may be revocable or irrevocable, and may be funded or unfunded. These various types will be considered separately only where the tax results vary with the type. The present objective is to survey …

Deductions From Gross Income: Payments And Accruals -Deductible As "Taxes", Robert Hanes Gray

Washington and Lee Law Review

No abstract provided.

Income Tax Deductions As A Means Of Effectuating Governmental Policies, Robert H. Gray

Washington and Lee Law Review

No abstract provided.

Paul's Studies In Federal Taxation, Third Series -A Review, Josiah Willard

Michigan Law Review

This Third Series of Mr. Paul's Studies in Federal Taxation is a welcome addition to the literature on the subject. Too few members of the tax bar reduce their views on the subject to writing, and many of those who do apparently feel that they must never concede any merit to a contention of the treasury on any doubtful point, for fear that such a concession will be used against them by some treasury attorney in the future. On the other hand, many academic writers on the subject tend to assume that every decision in favor of the taxpayer represents …

Regulations, Reenactment, And The Revenue Acts, Robert C. Brown

Articles by Maurer Faculty

No abstract provided.

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 …

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.

Taxation - Federal Income Tax - Deductions - Loss Upon Sale To Corporation Wholly Owned By Taxpayer, G. Randall Price

Michigan Law Review

In 1932 the taxpayer sold to the X corporation, which he wholly owned and controlled, certain shares of stock in partial payment of a debt which he owed to X corporation. The selling price, which was the market value of the stock, was less than the stock had cost the taxpayer. It was found that the sale was entered into with the intent of creating a deductible loss and thus reducing the taxpayer's taxable income. In computing his taxable income for 1932, the taxpayer deducted the amount of the loss on the sale of this particular stock to his wholly …

Taxation - Federal Income Tax - Evasion Through Use Of The Corporate Entity, G. Randall Price

Michigan Law Review

The taxpayer purchased A Company stock from X for $100,000 and later sold it for $7,500, deducting the loss in his tax return for that year. Following the discovery of fraud on the part of X he reacquired the stock for $8,000 and then negotiated a settlement with X providing for a resale to X for $100,000. To avoid high taxes on the resulting profit, the taxpayer organized B corporation and purchased all its stock. He then sold to it the A Company stock and all his claims against X in return for its promise to pay back the $100,000 …

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

Articles by Maurer Faculty

No abstract provided.

Taxation-Intergovernmental Immunity-Taxation Of The Income Of Federal Employees By A State

Indiana Law Journal

No abstract provided.

Some Indicia Of Capital Transfers Under The Federal Income Tax Laws, Paul Harvey

Michigan Law Review

The fundamental difference between capital and income is recognized throughout the entire structure of the income tax law, and many decisions have distinguished between the two for the purpose of determining whether a given transaction comes within the meaning of the term "income" as used in the Sixteenth Amendment. But while recognizing the fundamental differences between capital and income, apparently the courts have been somewhat doubtful about advancing any broad, general statements by which specific transactions might be classified. While they have sometimes hesitated to call a specific item a capital transfer, they have, nevertheless, held numerous transactions involving the …

Book Review. Selected Studies In Federal Taxation, 2nd Ed. By Randolph E. Paul, Robert C. Brown

Articles by Maurer Faculty

No abstract provided.

Constitutional Law - Validity Of State Occupation Tax On Contractors With The Federal Government, James H. Kilbourne

Michigan Law Review

The increasing burden of both federal and state taxation during the past decade has multiplied the attempts by some of those affected to establish, in the courts, immunity from certain taxes. The limitations of the power of the governments to tax have, then, special significance for one who seeks, in that fashion, to challenge the imposition of a tax on himself. Two cases recently decided by the Supreme Court involved one of those limitations-that which denies to the states the power to enforce a tax which impedes the exercise of the powers of the federal government.

Constitutional Law - Taxation - The Gerhardt Decision And Intergovernmental Tax Immunity, Allan A. Rubin

Michigan Law Review

Recent decisions handed down by the United States Supreme Court this last term have to a large extent fulfilled the anticipations aroused by James v. Dravo Contracting Co. of an enlargement of the governmental powers to impose non-discriminatory taxes. Allen v. Regents of the University System of Georgia held valid the application of a general federal admissions tax to admissions to athletic contests conducted under the auspices of the regents of the University of Georgia, a state university. Helvering v. Mountain Producers Corp. decided that a lessee under an oil and gas lease of state school lands was not …

Taxation - Federal Income Tax - Payment To Employees As Compensation Or Gift, Ralph Winkler

Michigan Law Review

The Universal Oil Products Company had been "extraordinarily successful," and its interests were very large and valuable. The stockholders transferred their stock to another corporation and the cash assets to the Unopco Corporation, an organization formed for the express purpose of managing this fund, whose stockholders were the same as of the former Universal Oil Products Company. At a stockholders' meeting, a resolution was adopted which in effect provided that a sum of money be allocated for payment to those employees who had loyally supported the former company. At the time this resolution was adopted the president of the new …

Taxation - Federal Income Tax - Non-Exemption Of Compensation Of State Employees Derived From Funds Of Liquidated Corporations, Gerald L. Stoetzer

Michigan Law Review

The Commissioner of Internal Revenue assessed employees of a state or an instrumentality thereof for federal income tax, their compensation having been paid from funds of banks and insurance companies in the liquidation of which they were engaged. Held, that the tax was properly assessed against the taxpayers so engaged because (1) the compensation was paid out of assets of private corporations and (2) the business in which they were employed for the state was not in the discharge of essential governmental duties. Helvering v. Therrell, (U.S. 1938) 58 S. Ct. 539.

Taxation - Constitutionality Of Federal Admissions Tax As Applied To State Universities, Ralph W. Aigler

Michigan Law Review

In declaring invalid the federal tax so far as it applied to admissions to athletic contests conducted under the auspices of the Regents of the University System of Georgia, the United States District Court has added another very interesting case to the many involving immunity from taxation growing out of our dual system of government. The question arose early, and scores of cases have since been decided.

Constitutional Law - Retroactivity - Federal Stamp Tax On Profits Accruing From The Sale Of Silver Bullion, William J. Isaacson

Michigan Law Review

Respondent purchased silver bullion on May 3, 1934, subsequently selling it on May 23 and 24. On the profits of this transaction he was required to pay a tax which he unsuccessfully attempted to have refunded. The Silver Purchase Act of June 19, 1934, imposed a fifty per cent tax consisting of stamps attached to the memorandum of sale on all profits arising from such transfers. The act further provided that the tax was to be applicable on all sales made on or after May 15, 1934. The court of claims upheld the respondent's contention that the act was unconstitutional …

Taxation - Exemption Of State Instrumentality From Federal Tax, Francis T. Goheen

Michigan Law Review

A federal statute provided that "Upon all tobacco and snuff manufactured or imported into the United States, and hereafter sold by the manufacturer or importer, or removed for consumption or sale, there shall be levied, collected, and paid . . . a tax of 18 cents per pound, to be paid by the manufacturer or importer thereof." The company received an order to deliver a quantity of tobacco to a hospital owned by the State of Massachusetts; the company complied by shipping tobacco which had been previously stamped in accordance with the regulations under the above statute. The state paid …

Taxation -Federal Estate Tax-Interpretation Of Loss From "Other Casualty", Virginia M. Renz

Michigan Law Review

The Federal Revenue Act provides that losses incurred during settlement of an estate should be deducted when they arise from "fires, storms, shipwreck, or other casualty." Losses to the estate of the testator of the petitioner were caused by Great Britain's going off the gold standard. The petitioners contend this was a casualty within the meaning of the Revenue Act. Held, the language is to be construed according to the rule of ejusdem generis. This casualty is not of the same general kind or class as those specifically mentioned and therefore not within the act. Lyman v. Commissioner of …

Constitutional Limitations On Progressive Taxation Of Gross Income, Robert C. Brown

Articles by Maurer Faculty

No abstract provided.