Court : US Supreme Court
..... united states were issued and put into the market. charters were subsequently granted by the state to savings and building associations, which are stock companies, and the tax act of 1857 was so modified as to include the stock of those corporations. [ footnote 16 ] savings and building associations, as they are called, are also included in ..... by its charter to receive such deposits in trust for the owner, and to loan, use, and improve the same, and to apply and divide the net income and profits thereof in just proportions among the persons making such deposits, subject to certain reasonable deductions as therein provided. like other corporations they may choose their own ..... of the opinion that there is no error in the record. judgment affirmed with costs. the chief justice, grier, j., and miller, j., dissented on the ground that the tax was a tax on the property, and not upon the franchises and privileges of the plaintiff in error. [ see the 73 u. s. ] [ footnote 1 ] 12 stat. at large .....
Tag this Judgment!Court : US Supreme Court
..... . s. 434 statement of the case. added to his return when made in coined money, and that he shall pay the tax or duty upon the amount thus increased. 2. the income tax or duties laid by 105 and 120 of the act of june 30, 1864, and the amendment thereto of july 13, 1866, upon the amounts insured, renewed, or continued by insurance ..... , or continued by insurance companies; upon the gross amount of premiums received and assessments by them; and a tax also upon dividends, undistributed sums, and income. a portion of the ninth section of the internal revenue act of july 13, 1866, [ footnote 3 ] and acts amendatory thereto, provide: "that it shall be the duty of all persons required to make returns or lists of .....
Tag this Judgment!Court : US Supreme Court
..... all which objects," the will proceeded, "the prosperity of the city, and the health and comfort of its inhabitants i devote the said fund as aforesaid, and direct the income thereof to be applied yearly and every year forever, after providing for the college as hereinbefore directed as my primary object. " in conclusion, he directed that if the city ..... buildings as the said square of ground shall be adequate to shall be taken from the final residuary fund hereinafter expressly referred to for the purpose, comprehending the income of my real estate in the city and county of philadelphia, and the dividends of my stock in the schuylkill navigation company, my design and desire being that ..... required so to lay them as to show how much was laid for each object supported respectively, and this exhibition was required by the act to be printed on the tax bills furnished to the taxpayers, as thus: "for the relief of the poor, 15 cents in the $100 of the assessed value of said property. " page 74 u. .....
Tag this Judgment!Court : US Supreme Court
..... or interest to the holder, to retain the amount of the tax. the united states, also, by certain acts, laid what is known as the income tax. the first tax of this kind was imposed by the act of congress passed august 5, 1861. [ footnote 2 ] the 49th section of that act directed that there should be levied and collected upon page 74 u ..... was regarded as simply a mode of collecting this part of the income tax. we concur in this view. it is not important, however, to pursue the argument, as congress has since, in express terms, by the acts of march 10 and july 13, 1866, imposed a tax on alien nonresident bondholders. the question hereafter will be not whether the ..... . s. 263 the annual income of every person residing in the united .....
Tag this Judgment!Court : US Supreme Court
..... , so that the laws of the united states could not be executed therein, it should be the duty of the president to collect both land tax and income tax, with six percent interest, according to the provisions of the act, as soon as the authority of the government should be reestablished. afterwards, however, the rebellion having now become widespread and assumed far greater magnitude ..... of the united states should be reestablished therein, to collect both the land tax and the income tax, with six percent interest. the income tax thus imposed has never been collected, but provision was made by the act of june 7, 1862, for the collection of the land tax in the insurgent states. this act or some similar provision was necessary to enable the president to perform the .....
Tag this Judgment!Court : US Supreme Court
..... and not to the collection of the cotton tax, as that is made a specific lien on the cotton, which ..... in the notice that the tax on the cotton is unpaid is a fraudulent and corrupt fabrication. 2. that the proceedings threatened by the collector are not authorized by the acts of congress providing for the collection of such taxes; that such proceedings are applicable only to the collection of taxes on incomes, licenses, and the like, ..... provision was in force, were authorized to enjoin the collection of internal revenue taxes, but it is not necessary to decide the point, as congress subsequently repealed the fiftieth section of the last-named act and expressly enacted that the original act should not be so construed as to apply to cases arising under the .....
Tag this Judgment!Court : US Supreme Court
..... 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 ..... suppress insurrection and invasion, and that by the legislation which supplied aid, required security, imposed duties, and finally exacted upon a certain contingency a percentage of income, the road was adopted as an instrument of the government, and as such was not subject to taxation by the state. page 76 u. s. 588 ..... , and jefferson counties in the state of kansas. the bill stated that the complainants were stockholders in the railway company; that under an act of the legislature of kansas, certain taxes had been imposed on the railroad and telegraph property of the company, which the treasurers of the counties named were proceeding to collect; that .....
Tag this Judgment!Court : US Supreme Court
..... and the number of shares held by each, and such list shall be open to the inspection of the officers authorized to collect taxes under state authority." " section 41. provided, that nothing in this act shall be construed to prevent all the shares in any of the said associations held by any person from being included in the ..... other moneyed capital, it did not intend to prescribe to the states the mode in which the tax should be collected. the mode under consideration is the one which congress itself has adopted in collecting its tax on dividends and on the income arising from bonds of corporations. it is the only mode which, certainly and without loss, ..... secures the payment of the tax on all the shares, resident or nonresident, and as we have already stated, it .....
Tag this Judgment!Court : US Supreme Court
..... and partly applied to the payment of debts incurred in previous years. the 117th section of the internal revenue act of june 30th, 1864, [ footnote 1 ] which laid what was known as the income tax, page 79 u. s. 2 after providing for the collection of an income tax from certain classes of companies specified, and enacting that "in estimating the annual gains, profits, or ..... the thirtieth of june, 1864, attention will be called chiefly to the provisions of that act. congress evidently intended by that act, as appears by the one hundred and sixteenth and the six following sections, to tax all the annual gains, profits, and income of every person residing here and of every citizen residing abroad, whether derived from any kind of property, rents, interests .....
Tag this Judgment!Court : US Supreme Court
..... interest on its mortgage as agreed on and in full until october, 1862. on the 1st of july in that year, [ footnote 1 ] congress passed an excise law levying an income tax of 3 percent on all sums of money due for interest by a railroad company on its bonds or other "evidences of indebtedness," and "authorized and required " such companies to ..... from their creditors. the railroad company, to save itself from being distrained upon, and giving notice to the city of all that was done, paid the tax under such protest as by the acts of congress would authorize a recovery of it by the city if it was illegally exacted held that the city did not, under the arrangement between it ..... made a demand on the railroad company for 3 percent on its mortgage to the city, insisting that the mortgage was an "evidence of indebtedness" within the meaning of the act of 1862. the company gave notice to the city of this demand, and that if it was enforced by the government, the page 77 u. s. 547 company would .....
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