Judgment Search Results Home > Cases Phrase: agricultural income tax act 1957 section 17a powers of comissioner to transfer cases Sorted by: old Year: 1850

Nathan Vs. Louisiana

Court : US Supreme Court

..... repugnance to the constitutional power of congress to regulate commerce. foreign bills of exchange are instruments of commerce, it is true, but so also are the products of agriculture or manufactures, over which the taxing power of a state extends until they are separated from the general mass of property by becoming exports. a state has a right to ..... the power so granted, and forbid them to impose, without consent of congress, any duty on imposts or exports." "and so far as the said section and act imposes a tax on that part of the business of a money and exchange broker which consists in buying and selling money or foreign coin, or other currency, the same is contrary ..... now the individual who uses his money and credit in buying and selling bills of exchange, and who thereby realizes a profit, may be taxed by a state in proportion to his income, as other persons are taxed, or in the form of a license. he is not engaged in commerce, but in supplying an instrument of commerce. he is less .....