Court : US Supreme Court
..... act of 1874 was that whereas, prior to its passage, the railroad company enjoyed immunity from all taxation, except at a limited rate upon its annual net income, or annual net proceeds of its investments, by that statute, each class or species of its property, without exception, was thenceforward liable, without deducting the indebtedness of the company, "to be taxed ..... , and advantage of said city," and that, "besides real and personal property, the said mayor and aldermen may tax capital invested in said city, stocks in money corporations, choses in action, income and commissions derived from the pursuit of any profession, faculty, trade or calling, dividends, bank, insurance, express, or ..... circumstances and in language almost identical, was held to have this meaning. that the statute of georgia only provides in that act for the means of collecting the taxes due to the state, affords no argument against taxation by counties and cities for local purposes, because the laws already in .....
Tag this Judgment!Court : US Supreme Court
..... all the real and personal property in the state should be levied and collected, and the income therefrom applied solely to the payment of the bonds and coupons; that the tax levied by the act and confirmed by the constitution should be a continuing annual tax until the bonds, principal and interest, were paid in full, that the appropriation of the ..... the funds. in the other, a mandamus is asked to compel the application of the funds to the payment of the interest and also the collection of the taxes authorized by the act of 1874, and the constitutional amendment of that year, to meet further interest as it shall become due. why should not both of these prayers be granted ..... s. 754 pay the coupons as they matured. and to that is added the obligation imposed by that constitution, which, in terms, declares that the proceeds of taxes collected under the act of that year "shall be paid by the treasurer of the state to the holders of said bonds, as the principal and interest of the same shall fall .....
Tag this Judgment!Court : US Supreme Court
..... , and divided, its road being at the time the dividends were earned in the military possession of the united states? 2d. whether it was liable for an income tax on income earned after the war and applied to construction and repair of the road with consent of the stockholders, who received mortgage bonds at a discount for their dividends, ..... its property and distributed to its stockholders bonds at a discount in lieu of money, with option, however, to take money, is held not liable to an income tax on the income so applied. 3. on the facts in this case, the court finds no error in the instruction to the jury respecting the exclusion of evidence in regard to ..... , the entire railroad of the company and its two principal offices were within the lines of the military forces of the united states. the act of 1862, c. 119, which provided for the tax, was not passed until after the united states had established their military possession of the territory traversed by the railroad, and within which the .....
Tag this Judgment!Court : US Supreme Court
..... paid in the ordinary way, and profits used for construction or carried to some fund. this was a classification of the income of the corporation for the purposes of taxation. in the present case, there has been no assessment of a tax, but the united states have sued to recover such sum as, upon an investigation of the accounts of the company ..... per centum on alleged profits of the company "carried to the account of any fund or used in construction," provided for by the act of june 30, 1864, c. 173, sec. 122, 13 st. 284, amended by the act of july 13, 1866, c. 184, 14 st. 139. a jury was waived and the trial had by the court. the case comes ..... .s. 277 i n error to the circuit court of the united states for the southern district of ohio syllabus the provisions in the act of june 30, 1884, 13 stat. 284, c. 173, 122, and in the act of june 13, 1868, 14 stat. 139, c. 184, 9, that the profits of a railroad company carried to the account of any .....
Tag this Judgment!Court : US Supreme Court
..... describing the disabilities which would stay the operation of the statutes -- described them more independently of the time when the cause of action accrued -- than the act of congress under consideration, and the courts, in giving it the construction they did, seemed to be largely influenced by the established interpretation given to similar ..... various limitations, the eleventh section provides for disabilities as follows: "no law of limitations, except in the cases provided for in the eighth section of this act, shall run against infants, married women, persons imprisoned, or persons of unsound mind, during the existence of their respective disabilities, and when the law of ..... not literally include disabilities arising afterwards. the courts, however, held that such was not only the literal but the true and sensible meaning of the act, and that to allow successive disabilities to protract the right to sue would in many cases defeat its salutary object and keep actions alive perhaps for .....
Tag this Judgment!Court : US Supreme Court
..... damages were laid at a greater sum. in an action upon his official bond, it was argued for the sureties that they were no more answerable than if he had acted without any writ. but chief justice shaw, in delivering the opinion of the supreme judicial court of massachusetts, overruling the objection and giving judgment for the plaintiff, said: " ..... as the officer of the court that issues the writ is, whether the goods are the property of the defendant in the writ or of any other person, an official act, and therefore, if wrongful, a breach of the bond given by the marshal for the faithful performance of the duties of his office. upon the analogous question whether the ..... person is wrongful; but each, being done by the marshal in executing the writ in his hands, is an attempt to perform his official duty, and is an official act. a person other than the defendant named in the writ whose property is wrongfully taken may indeed sue the marshal, like any other wrongdoer, in an action of trespass to .....
Tag this Judgment!Court : US Supreme Court
..... desire to proceed to value it and divide it into five equal shares upon the principles hereinbefore indicated. one-half of each share (which half i wish to be income-paying real estate) i desire to be set apart and conveyed to a trustee, to be held for the use and benefit of each child during his or her ..... heirs, without any power or authority of said charles u. shreve to encumber said estate or anticipate the rents thereof, but said trustee shall collect said rents, and after paying taxes, insurance, and keeping the property in repair, pay the rent to the said charles u. shreve in person quarterly, or as the same may be collected, according to ..... such exemptions. and in illinois, the subject is regulated by a special statutory provision. by 49, c. 22 (hurd's rev.stat.illinois 195), of the chancery practice act of that state, providing for creditors' bills of discovery, and to reach and apply equitable estates and interests to the satisfaction of debts, property held in trust is made subject .....
Tag this Judgment!Court : US Supreme Court
..... realized and reduced to possession, so as to have become part of the general capital and property of the taxpayer. but here it is not a tax on the profits and income after they have been realized from the business. it is a charge explicitly made as the price of the privilege of navigating the mississippi river between new ..... a license upon all persons pursuing any trade, profession, or calling, and to provide for its collection, and said license shall not be constituted to be a tax on property." the same act, 21, provides that "all licenses imposed by the city, not paid on the 31st day of july, shall be seizable, after thirty days' publication in ..... laws passed by that body in the regulation of navigation and trade, whether foreign or coastwise, is therefore but the exercise of an undisputed power. when, therefore, an act of the legislature of a state prescribes a regulation of the subject repugnant to and inconsistent with the regulation of congress, the state law must give way, and this .....
Tag this Judgment!Court : US Supreme Court
..... in this case shows that such ground was urged before that court and rejected. the view taken by the treasury officers was that the annual income tax of $1,145, for the year 1863, under the act of july 1, 1862, became, by the statute, due and payable may 1, 1864, before the assessment division which comprised rutherford county was ..... 6, 1865, the claimant paid the collector of this district $1,145, as annual income tax for the year 1863 under the requirements of the act of july 1, 1862, c. 119, 12 stat. 473, 474, and $1,145 as the special five percent war income tax for the year 1863, under the requirements of the joint resolution of july 4, 1864, ..... in the findings, which recommends the passage of an act to refund all taxes which, under the circular of june 21, 1865, "should not have been collected; such refunding to be made whether the tax in question was collected before or after the issue of the circular." the claimant's two income taxes were both of them paid before the circular was .....
Tag this Judgment!Court : US Supreme Court
..... bonds of a railroad corporation earned by the company during the year 1872, but payable by the terms of the coupon january 1, 1872, is not subject to the tax authorized by 15, act of july 14, 1870, 16 stat. 260, to be levied and collected for and during the year 1871. the facts are stated in the opinion of the court ..... paid on the first day of january, 1872. the united states acquiesces in the judgment in respect to the first of these claims, but contends that the act of july 14, 1870, imposed a tax upon interest coupons that were paid out of the corporation earnings for 1871, although such payment was not due nor made until january 1, 1872. this ..... 1871, a tax of two and one-half percent on the amount of all interest or coupons paid on bonds or other evidence of debt issued and payable in one or more years after date, by any of the corporations in this section hereinafter enumerated [railroad corporations being among the number], and on the amount of all dividends of earnings, income, or .....
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