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 .....
Tag this Judgment!Court : US Supreme Court
..... rendered for the plaintiff. the defendant brought the case here for review, the question being, of course, whether the united states can lawfully impose a tax upon the income of an individual derived from a salary paid him by a state as a judicial officer of that state. page 78 u. s. 122 mr. ..... given, or given by necessary implication. the general government and the states, although both exist within the same territorial limits, are separate and distinct sovereignties, acting separately and independently of each other within their respective spheres. the former in its appropriate sphere is supreme, but the states within the limits of their powers ..... by necessary implication; otherwise, the states might impose taxation to an extent that would impair, if not wholly defeat, the operations of the federal authorities when acting in their appropriate sphere. these views, we think, abundantly establish the soundness of the decision of the case of dobbins v. commissioners of erie, which determined .....
Tag this Judgment!Court : US Supreme Court
..... been compelled to suspend specie payments. taxation was inadequate to pay even the interest on the debt already incurred, and it was impossible to await the income of additional taxes. the necessity was immediate and pressing. the army was unpaid. there was then due to the soldiers in the field nearly a score of millions of ..... action, indirectly impair the obligation of contracts, if by the expression be meant rendering contracts fruitless, or partially fruitless. directly it may, confessedly, by passing a bankrupt act, embracing past as well as future transactions. page 79 u. s. 550 this is obliterating contracts entirely. so it may relieve parties from their apparent obligations indirectly ..... suppress insurrection, to raise and support armies, and to provide and maintain a navy, all of which were called into exercise and severely taxed at the time the legal tender act was passed. but it is evident that the notes have no relation to these powers or to any other powers of congress except as .....
Tag this Judgment!Court : US Supreme Court
..... concurred the chief justice and justices davis and field), dissenting. i am unable to concur in the construction which a majority of my brethren have given to the acts of congress relative to the income tax, and consequently i dissent from the judgments which have been directed in these cases. the reasons for this dissent i propose now to give, as briefly as ..... return of which is required to be made by the taxpayer to the assessor, but its language is "taxes on incomes herein imposed." as the 119th section imposed no tax, the reference must be to the income tax imposed by all parts of the act -- to all of them, as well those upon railroad dividends &c.;, as well as those imposed upon dividends of telegraph, manufacturing .....
Tag this Judgment!Court : US Supreme Court
..... , 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 will be hereafter not ..... court, and in remarking upon the decision of those courts, "that the deduction from the prescribed income of the interest on these railroad bonds, when paid by companies, was regarded as simply a mode of collecting this part of the income tax," says: "we concur in this view. it is not important, however, to pursue this argument ..... national bank is not liable under the internal revenue laws to the tax upon dividends due a state on stock owned by the state." again: [ footnote 7 ] "the term corporation as used in the acts of congress touching internal revenue does not include a state, consequently the income of the state of georgia from the western & atlantic railroad, .....
Tag this Judgment!Court : US Supreme Court
..... to demand a portion of the rents of land which she had sold. she may tax by virtue of her sovereignty and measure the tax by income, but the income itself is beyond her reach. all this, however, is abstract and apart from the case before us. that the act of 1864 was not intended to assert a claim for the use of the public ..... works or a claim for a part of the tolls is too apparent to escape observation. the tax was imposed upon ..... out or received by the company in another state for the sole purpose of being brought within it, and actually so brought. the question now was whether that act, so far as it taxed such freight, was constitutional. the supreme court of pennsylvania had held that it was. the case, being brought here, was elaborately and ably argued by messrs. w. w .....
Tag this Judgment!Court : US Supreme Court
..... "an act to amend the revenue laws of the commonwealth," a tax was imposed upon the gross receipts of certain companies. the second section was as follows: "in addition to the taxes now provided by law, every railroad, canal, and transportation company incorporated under the laws of this commonwealth and not liable to the tax upon income under existing ..... on imports or exports, except what may be absolutely necessary for executing their inspection laws." it was claimed in the state courts that the act is unconstitutional so far as it taxes that portion of the gross receipts of companies which are derived from transportation from the state to another state, or into the state from ..... both cases, the necessity of higher charges to meet the exaction is the same. influenced by these considerations, we hold that the act of the legislature of the state imposing a tax upon the plaintiffs in error equal to three-quarters of one percent of their gross receipts is not invalid because in conflict with the .....
Tag this Judgment!Court : US Supreme Court
..... act of congress of march 2, 1867, [ footnote 1 ] provides that "there shall be levied, collected, and paid annually upon the gains, profits, and income of every person, . . . whether derived from any kind of property, rents, interest, dividends, or salaries, or from any profession, trade, employment, or vocation, . . . or from any other source whatever, . . . a tax ..... amount the assistant assessor of the united states for the collection district in pennsylvania within which the plaintiff resided, assessed a tax of five percent, alleging it to be gains, profits, and income of the plaintiff for that year; that on appeal to the assessor of the district, and to the commissioner of internal ..... united states for the collection district in pennsylvania, page 82 u. s. 65 within which the plaintiff resided, assessed a tax of five percent, alleging it to be gains, profits, and income of the plaintiff for that year. on appeal to the assessor of the district, and to the commissioner of internal revenue, .....
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