Court : US Supreme Court
..... form of a dividend." "my conclusion is that the tax was erroneously assessed, and the defendant must pay the amount ..... declared by a railroad as part of their earnings, profits, income, or gains is the proper subject of taxation by virtue of the internal revenue act is scarcely necessary, as the express words of the act are that such a dividend "shall be subject to and pay a tax of five percentum whenever and wherever and to whatsoever party ..... legal remedy?" "if the certificates did not represent income received by the stockholders, they were not of the character which the law intended to reach, because the dividends subjected to the tax were only those from which, by the act, the corporation could deduct the 5 percent imposed on the income of a stockholder, derived by him in the .....
Tag this Judgment!Court : US Supreme Court
..... in respect of the same by virtue of the act passed to levy such taxes, as it applies to every past or future disposition of real estate by will, deed, or laws of descent, by reason whereof any person shall become beneficially entitled in possession or expectancy to any real estate, or the income thereof, upon the death of any person dying ..... after the passage of that act. apply the rule to ..... be deduced from that enactment to the facts found by the court, and it must follow that the argument of the united states is well founded, unless someone or more of the special objections to the tax set up by .....
Tag this Judgment!Court : US Supreme Court
..... such share of profits is "dividend" within the meaning of the internal revenue act of 1864, as amended by the act of 1866, and not interest. an act of congress passed in 1864, as amended in 1866, enacted that there should be levied and collected a tax of five percentum on all dividends thereafter declared due, wherever and whenever the ..... same should be payable to depositors as part of the earnings, income, or gains of any savings ..... congress to which it referred, and passed since the two acts above quoted, the dividends were not taxable. it accordingly gave judgment for the company, and the collector brought the case here. the ruling of the court below as to the validity of the tax had, lately and since the judgment, been declared by this court a .....
Tag this Judgment!Court : US Supreme Court
..... treasurers, and the burlington & missouri river railroad company to obtain an injunction on the said treasurers to prevent their collecting state and county taxes which had been levied on certain lands granted to the said company by an act of congress. he alleged himself and the others to be stockholders in the company; that the lands on which the ..... fall. but from this time until the state board of equalization on the fourth monday in may acts finally upon it, the assessment of property both real and personal is in progress and is incomplete, and the final levy of the tax does not take place until july. in the absence of any day or time fixed decisively by ..... days after the time when the complainant, on his construction of the act of the state above mentioned, assumed was the last day on which taxes could be laid, and when all those claims of the federal government were satisfied before half the current year for which the taxes were levied had expired, and patents for the lands had issued, .....
Tag this Judgment!Court : US Supreme Court
..... ," were its voters; in massachusetts, "every male inhabitant of twenty-one years of age and upwards having a freehold estate within the commonwealth of the annual income of three pounds or any estate of the value of sixty pounds;" in rhode island, "such as are admitted free of the company and society" of the ..... fourteenth), "representatives shall be apportioned among the several states according to their respective numbers, counting the whole number of persons in each state, excluding indians not taxed. but when the right to vote at any election for the choice of electors for president and vice-president of the united states, representatives in congress, the ..... florida, georgia, indiana, kansas, minnesota, and texas. certainly if the courts can consider any question settled, this is one. for nearly ninety years, the people have acted upon the idea that the constitution, when it conferred citizenship, did not necessarily confer the right of suffrage. if page 88 u. s. 178 uniform practice long .....
Tag this Judgment!Court : US Supreme Court
..... issued by the state, so as to exonerate the state from advances for that purpose. to secure this undertaking on the part of the company, the act provided that the net tolls and income of the road should be pledged for the payment of interest, and that the acceptance of the bonds by the company "should become and be, to ..... be at public auction. the first, second, and third sections impose upon each of three railroad companies, of which the pacific railroad company is one, an annual tax of ten percentum of the gross receipts for two years and fifteen percentum thereafter until the principal and interest of the bonds for which the companies were liable should be ..... issued to the aforesaid railroad companies." by the fourth section of the ordinance, it was provided that, "should either of said companies refuse or neglect to pay said tax as herein required, and the interest or principal of any of said bonds, or any part thereof remain due and unpaid, the general assembly shall provide by law for .....
Tag this Judgment!Court : US Supreme Court
..... charter which is subject to repeal or modification at the will of the legislature, and therefore that the act of 1874, which imposes a more onerous tax than one-half of one percent on the net income is a violation of no contract, but that it is a legitimate exercise of legislative authority. if it could be admitted, as ..... inasmuch as m. possessed no such immunity under its charter, the power of the legislature to tax its franchises, property, and income, remained unimpaired after its consolidation with c. page 92 u. s. 666 4. the purpose and effect of the consolidating act were to provide for a merger of m. into c., and to vest in the latter ..... half of one percentum upon its annual net income, and no municipal or other corporation shall have the power to tax said company, but may tax any property, real or personal, of the said company, within the jurisdiction of said corporation, in the ratio of taxation of like property." under this latter act the company was organized in 1836, and .....
Tag this Judgment!Court : US Supreme Court
..... .s. 85 error to the circuit court of the united states for the middle district of tennessee syllabus a party against whom an assessment was made in 1865 for an income tax, appealed therefrom to the commissioner of internal revenue, who, oct. 7, 1867, set it aside and ordered a new one, which was made march 15, 1868. the sum ..... was commenced to the circuit court of the united states for the middle district of tennessee, that court, on the trial, instructed the jury that the nineteenth section of the act of july 13, 1866, imposed a condition, without which the plaintiffs could not recover, and was not merely a statute of limitation; and as plaintiffs had not brought this ..... of said commissioner shall be had thereon unless such suit shall be brought within six months from the time of said decision or within six months from the time this act takes effect. provided that if said decision shall be delayed more than six months from the date of such appeal, then said suit may be brought at any time .....
Tag this Judgment!Court : US Supreme Court
..... proper officers of the state. these officers, and the manner in which they shall exercise their functions, are wholly beyond the power of the court when so acting. the levy of taxes is not a judicial function. its exercise, by the constitutions of all the states and by the theory of our english origin, is exclusively legislative. heine v ..... other property. 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. 208; erie r. co. v. pennsylvania, 21 wall. 492. as to sec. 1, we need not inquire very closely whether the .....
Tag this Judgment!Court : US Supreme Court
..... , chartered in 1845, with an exemption from taxation beyond one-half of one per cent of its annual net income, was united with the muscogee railroad company, a company entitled by its charter to a similar exemption. the union was effected under an act of the legislature, approved march 4, 1856, the effect of which was to extinguish the muscogee company by ..... of the south-western. the exemption from taxation, which both the companies enjoyed under their original charters, cannot, therefore, be withdrawn by the legislature, and it is unaffected by the tax-laws of 1874. the judgment of the supreme court is reversed, and the record is remitted, with instructions to reverse the order of the superior court.[ south-western railroad & banking .....
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