Court : US Supreme Court
..... falling due. we are aware that at the present term we held, in railroad company v. collector, 100 u. s. 595 , that the tax levied under the act now in question was essentially a tax on the business of the corporation, and that in order to secure its payment it was laid on the subjects to which the earnings were to ..... during the year 1871 a tax of two and one half percentum on the amount of all interest or coupons paid on bonds or other evidences of debt issued and payable in one or more years after date, by any [railroad company], and on the amount of all dividends of page 101 u. s. 550 earnings, income, or gains hereafter declared, . ..... . . whenever and wherever the same shall be payable, . . . and on all undivided profits . . . which have accrued and been earned and added to any surplus, contingent, or other fund." the interest in this case was neither payable nor paid in 1871, and as the tax is not leviable or collectible until .....
Tag this Judgment!Court : US Supreme Court
..... our opinion, is essentially an excise on the business of the class of corporations mentioned in the statute. the section is a part of the system of taxing incomes, earnings, and profits adopted during the late war, and abandoned as soon after that war was ended as it could be done safely. the corporations mentioned in this section ..... be secured, this tax was laid on the subjects to which these earnings were applied in the ..... the united states for the district of massachusetts syllabus 1. the tax on interest paid by corporations under sec. 122 of the internal revenue law, as amended by the act of july 13, 1888, 14 stat. 138, is an excise tax on their business, to be paid by them out of their earnings, income, and profits. 2. in order that its payment might .....
Tag this Judgment!Court : US Supreme Court
..... of illinois syllabus 1. certain lands of a. were distrained and sold by reason of his refusal to pay the income tax assessed against him under the act of june 30, 1864, 13 stat. 218, as amended by the act of march 3, 1865, id., 469, he having no goods or chattels known to the proper officers out of ..... the central and controlling question in this case is whether the tax which was levied on the income, gains, and profits of the plaintiff in error, as set forth in the record, and by pretended virtue of the acts of congress and parts of acts therein mentioned, is a direct tax. it is fundamental with respect to the rights of the ..... process of law. 4. direct taxes, within the meaning of the constitution, are only capitation taxes as expressed in that instrument, and taxes on real estate. 5. the duty which the internal revenue acts provided should be assessed, collected, and paid upon gains, profits, and incomes was an excise or duty, and not a direct tax, within the meaning of the constitution .....
Tag this Judgment!Court : US Supreme Court
..... the obligations upon which the judgment of the relator was recovered, existing with her organization complete, having officers for the assessment and collection of taxes, there are parties upon whom the courts can act. the courts therefore, treating as invalid and void the legislation abrogating or restricting the power of taxation page 103 u. s. 369 delegated ..... it made no other provision for the ultimate payment of the principal, but provided that a special tax should be levied each year to pay the annual interest. it is contended that only to the stock thus pledged and the income from it were the bondholders to look for the payment of the principal. the same position was ..... urged in united states v. new orleans, on the application by the relator in that case for a mandamus to compel the city authorities to levy a tax to pay judgments recovered upon similar .....
Tag this Judgment!Court : US Supreme Court
..... the stock subscribed for in installments, and provides the means of payment, as they fall due, by a special tax. the bond of the officer who collects this tax requires him to pay it over to the railroad company. if the purpose of the act had been to authorize the payment of the stock in bonds, the county, after paying in bonds, would ..... not have been required to pay over to the railroad company the railroad tax collected to satisfy the bonds. in other words, the county would not have been required ..... to pay twice for its stock -- once in bonds and once in money. see wells v. supervisors, 102 u. s. 625 . but the act of dec. 16, 1867, to incorporate the lebanon and gallatin .....
Tag this Judgment!Court : US Supreme Court
..... the relation of the states to the general government involving the vital power of taxation reduced to an inquiry into the mere phraseology of the act levying the tax. let it be admitted that the tax is on the message and not on the company. are telegraph messages to be regarded as articles of commerce passing through the state? many ..... the company's quarterly business. in sustaining the tax in state tax on railway gross receipts, 15 wall. 284, the court said: "the tax is not levied until the expiration of each half-year, and until the money received for freights and other sources of income has actually page 105 u. s. 463 come into the company's hands. then it ..... has lost its distinctive character as freight by having become incorporated into the general mass of the company's property." if the tax in this case had been confined to messages between points .....
Tag this Judgment!Court : US Supreme Court
..... its value, to be ascertained as directed by law. no one species of property shall be taxed higher than another species of property of equal value on which taxes shall be levied; the legislature shall have power to levy an income tax, and to tax all persons pursuing any occupation, trade, or profession." this article has been frequently before the supreme ..... that its object is not sufficiently expressed in its title. page 105 u. s. 290 the second ground of objection to the validity of the act of 1852 is that the tax prescribed is to be levied upon real estate and slaves to the exclusion of personal property, and in each municipality in proportion to its indebtedness, which ..... first of which is that its object is not expressed in its title, as required by article 118 of the constitution of 1845. the title of the act is "an act to consolidate the city of new orleans, and to provide for the government and administration of its affairs." the article of the constitution declares that "every law .....
Tag this Judgment!Court : US Supreme Court
..... it is entirely consistent with the declaration itself to show in point of fact what was the amount of earnings accrued during the period while the income tax act was in force which had not been assessed for taxation as profits carried to construction or other account. the declaration in the certificates could not be conclusive of anything not ..... be applied to every case without a careful regard to its necessary limitations. it should be borne in mind in the first place that the tax provided for in this section of the act is an annual income tax, and its subject is the interest paid and profits earned by the company for each year, and year by year, and that both by the ..... dividends in scrip, within the meaning of sec. 122 of the act of june 30, 1864, c. 173, as amended by the act of july 13, 1866, c. 184, but further holds that the company could show what were its earnings from sept. 1, 1862, to dec. 19, 1868, when the income tax law was in force, as its earnings during any other period .....
Tag this Judgment!Court : US Supreme Court
..... . i am not able to agree with the majority of the court in the decision of this case. the tax which is sustained is, in my judgment, a tax upon the income of nonresident aliens and nothing else. the 122d section of the revenue act of 1864, as amended by that of 1866, subjects the interest on the bonds of the company to a ..... , by the one hundred and twenty-second section of the internal revenue act of 1864, was laid upon the interest payable on the bonds and upon the dividends declared on the stock, of railroad and other corporations, as a tax on the incomes pro tanto of the holders of such bonds and stock. stockdale v. insurance companies, 20 wall. 323, 87 u. s ..... tax of five percent, page 106 u. s. 331 and authorizes the company to deduct it from the amount payable to .....
Tag this Judgment!Court : US Supreme Court
..... to dismiss an appeal from the supreme court of the district of columbia syllabus a decree is not final within the meaning of the act conferring appellate jurisdiction unless upon its affirmance nothing remains but to execute it. the court therefore dismisses an appeal by the defendant in a ..... declares the complainant to be holder of the mortgage, and, in order to ascertain the amount due him and other lien creditors, and for taxes, refers the case to a master, and appoints a receiver to take charge of the property. this is an appeal from the following decree ..... order for the delivery of the property is only in aid of the foreclosure proceedings, and to subject the income, pending the suit, to the payment of any sum that may in the end be found to be due. if anything remains, either ..... of the income or of the proceeds of the sale after the mortgage or trust debts are satisfied, it will go to the appellant .....
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