Court : US Supreme Court
..... limits, or that its statutes are intended to operate otherwise than upon persons and property within the state. it is not necessary that every section of a tax act should in terms declare the scope of its territorial operation. before any statute will be held to intend to reach outside property, the language expressing such intention ..... : "this court has expressly held in two cases, where the road of a corporation ran through different states, that a tax upon the income or franchise of the road was properly apportioned by taking the whole income or value of the franchise, and the length of the road within each state, as the basis of taxation. delaware railroad ..... tax case, 18 wall. 206; erie railway v. pennsylvania, 21 wall. 492." the mileage basis of apportionment was also sustained in western union .....
Tag this Judgment!Court : US Supreme Court
..... and should not be ignored. in cheatham v. united states, 92 u. s. 85 , 92 u. s. 89 , which involved the validity of an income tax levied under an act of congress prior to the one here in issue, this court, through mr. justice miller, said: "if there existed in the courts, state or national, ..... . the issues presented are as follows: complainant, as a stockholder in a corporation, avers that the latter will voluntarily pay the income tax levied under the recent act of congress; that such tax is unconstitutional, and that its voluntary payment will seriously affect his interest by defeating his right to test the validity of the exaction ..... upon many grounds and in many particulars specifically set forth. the bill further charged that the income tax provisions of the act were likewise unconstitutional in that they imposed a tax on incomes not taxable under the constitution and likewise income derived from the stocks and bonds of the states of the united states and counties and municipalities .....
Tag this Judgment!Court : US Supreme Court
..... 1435, and to many subsequent comparatively ancient statutes as income tax laws. 1 dowell, 121. i t is objected that the taxes imposed by these acts were not, scientifically speaking, income taxes at all, and that, although there was a partial income tax in 1758, there was no general income tax until pitt's of 1799. nevertheless, the income taxes levied by these modern acts, pitt's, addington's, petty's, peel's ..... invalid, let us see to what result such a rule may logically lead. there is no distinct, separate statute providing for a tax upon incomes. the income tax is prescribed by certain sections of a general statute known as the wilson tariff act. the judgment just rendered defeats the purpose of congress by taking out of the revenue not less than thirty millions, and possibly .....
Tag this Judgment!Court : US Supreme Court
..... the redemption payment is to consist not of the mortgage debt, interest, and costs, but of the amount paid by the purchaser, with interest, costs, and taxes. in other words, the act carves out for the mortgagor or the owner of the mortgaged property an estate of several months more than was obtainable by him under the former law, with ..... who shall hold said premises until such time as the purchaser is entitled to a deed, and shall be entitled to rent, control and manage the same, but the income during said time, except what is necessary to keep up repairs and prevent waste, shall go to the owner or defendant in execution, or the owner of its legal ..... defendant owner may redeem any real property sold under execution, special execution, or order of sale at the amount sold for, together with interest, costs, and taxes, as provided for in this act, at any time within eighteen months from the day of sale as herein provided, and shall in the meantime be entitled to the possession of the property, .....
Tag this Judgment!Court : US Supreme Court
..... the lessor as rental." "3. the cost of operating the entire (road), exclusive of sinking fund, expenses of land department, and money paid to the united states." "4. net income for such year and amount of dividend declared." "5. capital stock authorized." "6. capital stock paid in." "7. funded debt." "8. number of shares authorized." "9. ..... company will perform certain services for full compensation, independently of those grants, and will admit the government to a very limited and wholly contingent interest in remote net income. and because of these advances and these grants and this fully compensated employment, it is claimed that this state corporation, owing its being to state law and ..... right and interest of the united states therein, while of any value, should not be destroyed by the state in the exercise of its taxing power. for example, section 5 of the act of july 1, 1862, provides that the issue and delivery of bonds to the company, referring to bonds the issue and delivery of which .....
Tag this Judgment!Court : US Supreme Court
..... section declared that "the said canal or railway and the appurtenances of the same shall not be subjected to be taxed higher than an half percent upon its annual net income." on december 14, 1835, the general assembly passed an amendatory act, laws of 1835, p. 217, under which the road was constructed, changing the name to the central ..... contended that, as to its original line between savannah and macon, it could not be taxed either by the state or by its municipalities at a greater rate than one-half of one percent upon its net annual income. in section eighteen of the act of 1835, above cited, there is an express prohibition against the municipal taxation of ..... the "stock" of the company, and an express permission to tax any "property" of the company within the jurisdiction of the corporation. the .....
Tag this Judgment!Court : US Supreme Court
..... . she was liable to taxation there. that state alone had dominion over her for that purpose." in delaware railroad tax, 18 wall. 206, this court, in considering an objection interposed to a taxing act, that it imposed taxes upon property beyond the jurisdiction of the state, observed (p. 18 wall. 229229): "if such be the fact ..... engaged in carrying express packages, page 165 u. s. 203 many of them of great value, from one part of the country to another, and its income and the value of its shares are largely the result of their efforts, fidelity, and integrity, and of skillful management and supervision of the business. said company ..... states of new york, pennsylvania, and massachusetts to double taxation. unless those states voluntarily forego the inherent power of taxation vested in them to levy a tax upon all the property within their respective jurisdictions. certainly the states of new york, massachusetts, and pennsylvania would if they were independent sovereignties, removed from .....
Tag this Judgment!Court : US Supreme Court
..... a franchise that inhered in that portion of the structure that was within the state of indiana, the value of which was not included in the tax complained of. the acts of congress conferred no right or franchise on the company to erect the bridge or collect tolls for its use. they merely regulated the height of ..... under the laws of kentucky but conduct its business in kentucky as well as in other states, the statement is required to show the gross or net income or earnings received in the state and out of the state on business done in the state, and the entire gross receipts of the company in the ..... of the board declare that the sum of $2,900,000 was reached? i quote the testimony: page 166 u. s. 163 they say their gross earnings or income amounted to . . . . . . . . . . . . . $ 209,072.21 income from all other sources. . . . . . . . . 8,000.00 ------------ total . . . . . . . . . . . . . . . . $ 217,072.21 less interest on bonds . . . . . $120,000.00 less sinking fund. . . . . . . . 21 .....
Tag this Judgment!Court : US Supreme Court
..... for stores, that some of the rooms were rented for other like purposes, and that from these sources a large amount of corporate income had been realized, although that income was devoted to charitable purposes. if the act of 1855 be regarded as a contract within the case of dartmouth college v. woodward, 4 wheat. 518, then it is ..... to christ church hospital, in the city of philadelphia, so long as the same shall continue to belong to the said hospital, shall be and remain free from taxes." eighteen years thereafter, the legislature enacted that all property belonging to any association then exempt from taxation, other than that in actual use and occupation of such association, ..... orleans by the grand lodge of the f. & a. masons of the state of louisiana to enjoin the city of new orleans from proceeding to sell, for the taxes of 1888, 1889, and 1890, certain property owned by the petitioner and claimed to be exempt from taxation. the petition set forth that the grand lodge was incorporated .....
Tag this Judgment!Court : US Supreme Court
..... of its shares at a greater rate than is assessed upon other moneyed capital in the hands of citizens of the state. insurance stocks may be taxed on income instead of on value, and deposits in savings banks and moneys belonging to charitable institutions may be exempted without infringing the provisions of that section of the ..... 461 does not come into competition with the business of national banks, and is not therefore within the meaning of the act of congress; that such stocks as those in insurance companies may be legitimately taxed on income instead of on value, because such companies are not competitors for business with national banks, and that exemptions, however large, ..... the commercial sense of that word, and did not perform the function of banks in carrying on the exchanges of commerce, and that, taxed as they were, on their franchises based on income, it could not be said that there existed any discrimination against national banks. as to savings banks, it was held that, though it .....
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